Is it possible to make $5,000 a month day trading? - page 5.

MusaMohamed

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Quote from: LUCKMCFLY on September 10, 2021, 02:23:17 PM

Yes it can, but I do not know what style of trading it handles, in my case to handle that type of capital I would distribute it 75% only to BTC and the other 25% I would distribute it in the alts market and some NFTs . Above all, I would do a good study for the NFTs that are exploiting with great success.

Trading is risky and indicate a monthly profit target is riskier because it will cause pressure. If you get less than $5000 profit, you will try to get it that will make bad decisions.

And $5000 monthly profit bases on how much a capital is?

Quote

Of course, you have to be very careful to know how to choose the NFT projects to follow, some quickly become scams, as happened in 2017 with the ICOs, there was a lot of investment at that time and some failed projects that were not very relevant, and some that are still standing right now. It is also necessary to highlight what you want to achieve, whether to speculate in the market or simply go down the investment path, which is very different, and that other premises are taken into account.

I think NFT projects are risky and I don't support the idea to invest in NFT projects. Polkadot is better than NFT because it is a project that builds up a platform for other projects. It is like Ethereum, Binance Smart Chain, Solana.

Polkadot with the success of its Kusama blockchain, looks to be very promising when its main net is officially launched.

LUCKMCFLY

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Quote from: 9thsky on August 22, 2021, 04:55:33 AM

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).

Yes it can, but I do not know what style of trading it handles, in my case to handle that type of capital I would distribute it 75% only to BTC and the other 25% I would distribute it in the alts market and some NFTs . Above all, I would do a good study for the NFTs that are exploiting with great success.

Of course, you have to be very careful to know how to choose the NFT projects to follow, some quickly become scams, as happened in 2017 with the ICOs, there was a lot of investment at that time and some failed projects that were not very relevant, and some that are still standing right now. It is also necessary to highlight what you want to achieve, whether to speculate in the market or simply go down the investment path, which is very different, and that other premises are taken into account.

SirLancelot

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Quote from: 9thsky on August 22, 2021, 04:55:33 AM

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

Everyone talked about their feelings on the subject, everyone said basically the same thing, it is "possible" but it is improbable and there are better ways. I would like to add something a lot better; staking. If you are staking in cake, that means all you need is around 60k instead of 15k, and you could basically make 5k per month that way. I know that’s just one example and it may not yield the same APR forever, it could go up and down, but that type of thing could be the method that is the least risky method.

I would rather stake my cakes then start trading something and it would definitely be a lot more profitable in the long run. If you pick something useless and stake that, then you will end up losing a lot of money when the price goes down, but if you pick something like uni, or cake or anything like that then you will be getting less risk.

Benefactor

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Market development rate so you know what's going on and ultimately remember to keep refreshed with news also on the grounds that it generally impact the market execution. It is smarter to have a stop misfortune and take benefit again dealer is the clash of the psychological and enthusiastic state on the off chance that you previously losing or taking benefit to deal with the danger don't get an excessive amount of ravenous or confident.

Sweetbtc

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You can but sometimes it will be difficult in this volatile market that when it goes down then it will definitely be a problem for the day traders, because day traders didn't have that much time to stable again and wait for the coins too much. And i want to say one thing that it will be easy for you if you going with some strategic best rules for yourself.

MIner1448

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Quote from: 9thsky on August 22, 2021, 04:55:33 AM

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).

It is possible to earn $ 5,000 with such an amount on spot trading per month, if you devote at least 8 hours a day to trading and if you are lucky when the market is volatile enough, you can really earn such an amount on futures, for example, it is definitely possible there, but the risks of course great, lose your entire deposit ....

Hippocampus

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Quote from: checkmatesir on August 22, 2021, 05:44:39 AM

The amount you mentioned in the post will be quite nice and achievable for your target of $5,000 a month. As it is a possible amount and even i can say you can get a profit more than the amount you mentioned for a month. I'm also a day trader and since i have small capital but i also earn a lot from that small capital too.

I personally think this is a very difficult thing, involving psychological, technical, and market conditions. Do you have any good investment strategies you can share?

binanceautotrader

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I make 20% of my initial investment per month. I Use a APP/BOT to do all my Trading inside Binance. I've be looking for this Bot for 3 years!!
It trades only in USDTether. Now Im trading ALL at the same time: ETH, BTC, BNB, SHIB, EOS, UNI, MATIC, XLM, ADA, XRP.

It woks really good. I use 1% profit margin, so it makes about 50-100 Trades in one day and never stops. Working 24/7. I don't mind if the coins are goin up or down anymore. All Pre setup to be automatic.

Good luck on your trades!!!

V-t.Ester

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Theoretically it’s possible to make 5000$ from 15000$. However it’s necessary to remember that on practice whatever can happen. Even experienced and skillful trader can suddenly bankrupt because of small error.

Quote from: 9thsky on August 22, 2021, 04:55:33 AM

5) Trading all crypto (not just btc).

It’s quit hard to monitor all crypto. My oppinion, that it's better to divide capital between the most profitable coins (like BTC, ETH, BNB) and pay the most attention to trading them. This will bring more profit then trading lots of shit coins together.

checkmatesir

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It will be quite easy for every trader if he has that much amount of worth that you had mention in your post. But it also depends upon the trader himself that how can he manage it and how much he knows about day trading, because their are two different strategies day trading and long term investment. Both should be taken differently.

Chrystora123

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Quote from: cryp24x on September 05, 2021, 12:21:12 PM

Quote from: 9thsky on August 22, 2021, 04:55:33 AM

snip..

Your earning target monthly is really quite good if you know how to get of course. And one more thing dude, being knowledgeable in cryptocurrency trading is certainly an advantage, especially if you timely buy or sell the coins your gonna buy or sell it. Perhaps, 5000$ in a month could possible more than it.

earning $5000/month from trading for those who have good trading skills is easy. I have a friend who is able to make that much money per month from trading. basically, you have to walk gradually to be able to make that much money from trading..
first, collect your experience and knowledge in trading then you are ready to make that much money..

taufik123

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Quote from: Rana590 on September 05, 2021, 11:53:54 AM

Actually it will depend on how good trader you are. It is very much possible to earn $5k with your desire capital. Even you can earn this amount with much lower capital by taking leverage. But leverage trading has high risk. I think you should focus on earning money. Don't focus on fulfill the target. It can be harmful for your capital. Try to select best pair in day trading.

Leveraged trading is not recommended for beginners, as it carries a greater risk of loss. but some beginners start to try it just by guessing the price.
If you only aim to get $ 5000 of course it will be very difficult, the most important thing is to know the mechanism and know the correct trading flow. Don't be a too greedy trader and too panicked trader. all require a process.

cryp24x

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Quote from: 9thsky on August 22, 2021, 04:55:33 AM

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).

Your earning target monthly is really quite good if you know how to get of course. And one more thing dude, being knowledgeable in cryptocurrency trading is certainly an advantage, especially if you timely buy or sell the coins your gonna buy or sell it. Perhaps, 5000$ in a month could possible more than it.

Rana590

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Actually it will depend on how good trader you are. It is very much possible to earn $5k with your desire capital. Even you can earn this amount with much lower capital by taking leverage. But leverage trading has high risk. I think you should focus on earning money. Don't focus on fulfill the target. It can be harmful for your capital. Try to select best pair in day trading.

arbifahrozy

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5000$ is not too hard to get. Keep buying the dip and keep holding...don't be a panic seller... also while you're holding give crypto mining a try it'll help you.. finally hit my 11k mark after 48hours of mining.. I'm holding and I'm mining for the future fam..

RealMalatesta

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Quote from: rhomelmabini on September 04, 2021, 08:02:55 AM

I guess the goal is somehow fine for me and it's attainable but for a beginner as I assume with the OP I think he should know the basics first of what's compounding even on trading. Others take compounding strategy lightly but most businesses and even with trading it comes to be the effective way to get more earning through time.

What I advice to OP is focus or start at low, the best things takes time and even it's slow at least you are getting some lessons along the way.

This is basically what I did. The first ever investment I have ever made was $17, which grew over 100 in months, and that grew into thousands in years, and I started to earn from it, have an income from it. Right now, I have spent it all and have basically zero money anymore, but I have done big things with it, huge things that I would never imagine I would see myself in, and I am quite happy that I do not have any money left right now, because if I had my investment with me but didn't do those things then I would be very sad.

Long story short my story, started with 17 and took years to reach where I wanted, people want to be rich over night, make 5k from 15k each month, that is not going to be possible for each month I can guarantee you that 100%, impossible to do it every month. However if you start with 15k instead of $17? Then in years you would have maybe a million dollars, who knows? That is what people should focus on.

perfect999

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Quote from: 9thsky on August 22, 2021, 04:55:33 AM

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).

Making 5000 a month in crypto currency trading is very possible. All you need to do is trade daily with a reasonable amount. Then another thing you have to know is that you shouldn’t be in a hurry to make that much,You need to have patience, and study a lot about trading to develop your skills. with time you will be able to make up to $5000 a month. Why I said something about patience is because I’ve seen a lot of newbies Who quit cryptocurrency trading out of Frustration, that they can’t achieve much with it. If you can take your time with this You will be able to make more than that As time goes on.

conected

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Quote from: RokokGudangGaram on September 04, 2021, 05:00:44 AM

$15,000 is a big capital for me and I really think there's no problem earning $5,000/month I think with that kind of amount you will earn more than $5,000 but still depends on how good you are in trading I for once managed to earn more than $12,000 from my budget of $3000 in less than a day through leverage but I can really say it's risky I got -$1500 first before reaching $12,000.

- Your self is already a good proof of the impossibility of this quest, the decrease in wealth will be reduced to almost an absolute minus because your budget was a relative loss the first time, agree that you have a strategy in time to mix and make a profit but your budget can still break in the second and third, even more times. Leverage battleground has no tolerance for most users, one month may succeed but the next month may fail, never easy with a profit even though our capital is large

rhomelmabini

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Quote from: Hypnosis00 on September 04, 2021, 05:48:43 AM

Quote from: rhomelmabini on September 04, 2021, 04:48:45 AM

Quote from: ?? on ??

the most important thing is skill, you can have any target for trading but remember, trading is not as easy as we imagine. must have a lot of analysis, ability, capital and others. manage the management well and you can get a profit target of $ 5000 or more

Skill and your sanity towards it. I remember an author about trading that the most important aspect to learn if you want to trade full time was your psychology behind it. Making a $5000 monthly trading profit may vary and even if you say you can do it full time and have that starting capital, it doesn't necessarily mean you'll get it monthly like what you expect it to be.

The confidence doesn't give us 100% assurance that we are able to get $5k per month. Even we have $20k capital still the same as this volatility nature of the market had never changed. While aiming for a $5k profit will give some pressure on us but on the other hand, it forces us to work harder.

I guess the goal is somehow fine for me and it's attainable but for a beginner as I assume with the OP I think he should know the basics first of what's compounding even on trading. Others take compounding strategy lightly but most businesses and even with trading it comes to be the effective way to get more earning through time.

What I advice to OP is focus or start at low, the best things takes time and even it's slow at least you are getting some lessons along the way.

Hypnosis00

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Well, I don't think this was a good idea coz I saw some negative effects with this on you. I'm afraid if you will fail to reach your goal monthly you will lose your mind and having a bad trade. In that case, it was possible to lose them all rather than making some profit on it.

Quote from: rhomelmabini on September 04, 2021, 04:48:45 AM

Quote from: ?? on ??

the most important thing is skill, you can have any target for trading but remember, trading is not as easy as we imagine. must have a lot of analysis, ability, capital and others. manage the management well and you can get a profit target of $ 5000 or more

Skill and your sanity towards it. I remember an author about trading that the most important aspect to learn if you want to trade full time was your psychology behind it. Making a $5000 monthly trading profit may vary and even if you say you can do it full time and have that starting capital, it doesn't necessarily mean you'll get it monthly like what you expect it to be.

The confidence doesn't give us 100% assurance that we are able to get $5k per month. Even we have $20k capital still the same as this volatility nature of the market had never changed. While aiming for a $5k profit will give some pressure on us but on the other hand, it forces us to work harder.

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