I would imagine that in order to generate such amounts per day, you would need a decent amount to start with. Do you have that?
But assuming that you do, the market is very volatile. You can't simply use a grid bot, or follow a certain strategy and expect money to keep flowing. So if you don't know what you're doing, daytrading is probably something you should stay away from.
I have funds to start with and i saw there are people who are earning a good amount of money from spot trading. Forget about day trading, is that even possible to generate 100$ weekly from spot trading with minimal risk? I would like to know how many among us generating this type of figure from the crypto market and what methods they are using to do that. Also how they manage their risk and reward ratio.
I don't think that's a good idea. I believe in HOLDING. Long-term investments are the best because if you have enough knowledge about the market and how it works, you can surely gain a lot of profit. If you can analyze the history of a coin and how it has behaved for the last 5 or 10 years, you can surely predict whether it will go up or down. Not always, but most of the time.
On short-term trading, there are many things like bots, AI trading, and up-down signal groups. But I think they are all scams. I have tried several times. Failed miserably.
Most projects don't even survive that long and dude if you are not a holder you do not know how boring it is to hold a 3 long year with 2 years of continuous bear market and one year of sideway market. In this long period of time market gave us a lot of speculative chances to get some profits with short-term trades but i was not able to take it because of my lack of knowledge about the proper way to do that. I came here to learn from someone who might be generous enough to help me regarding that.
I am in crypto for a few years and i have good knowledge of the crypto markets and their behavior. For the past few years, I am mostly invested in some top crypto project and held it till I get decent profits. You can say i am a holder. Now i want to try something different. I want to try day trading methods to generate a daily income from the spot market.
Is that even possible to earn 50$-100$ every day with spot trading? If yes then what methods you are using and how do you manage your risk?
Yes, that's very likely to earn that much in trading if you've got a bigger capital. I'd just say that it's possible but making it in actuality is where the real challenge starts. I don't know how many mistakes you'll have to make for you to make that amount that you're targeting.
Here's a piece of tip, most of the people that are day trading are getting rekt. Now, that's the reality that has to be taken into consideration if you've got that plans of making that much daily in trading. It sounds easy but it isn't and once you're able to make that then you can consider yourself a legend.
90% of people do fail to make any profits from trading but there are still 10% who do make profits. I want to be in that 10% and I am not a newbie in this sector. I just need some guidance to find my way to do that. I just want to hear how other are doing it so that i can improve my own strategy.
