Is it possible to make $5,000 a month day trading? - page 8.

Silberman

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Quote from: Emitdama on August 22, 2021, 04:16:12 PM

Quote from: Silberman on August 22, 2021, 02:44:01 PM

The fourth condition is what is really going to limit you and if you really try to make this a reality it is going to make you take unacceptable risks that will eventually make you lose money, in my opinion you need a minimum of 100k and if possible 200k to make it more realistic, now I know that a lot of people may think these numbers are too high but that is precisely the thing, when the market is going up making money will be easy and when it is not moving at all you will have a lot of problems making money, so the high capital is to act as an insurance policy that generates a lot of profits in the good months and it covers your losses you during the bad months.

Honestly if one has to spend $200,000 to earn a bare minimum of $5000 each month, I would advise them to just hold for a year and almost guaranteed that you will at least double your money if not more. I am not saying it theoretically either, you can compare the data already available about price and surely it has more than doubled each year, with an exception of a few.

Crypto trading is all about quick profits and if you are taking too long to earn bits, then better just to hold the amount and wait for the bull run to cash in. There is no point in trading all day if you can't make money worth your efforts and time alone.

I probably gave numbers that were higher than what was needed but I still think my idea is correct as the OP wanted to generate monthly profits of 5k with just 15k, that is 33% in profit every single month and while that can happen once in a while it is not something that can be sustainable, this is why I recommended such a high figure, however this is just a theoretical discussion as it is unlikely that someone that wants to trade with 15k the markets has 100k or 200k on their bank account.

xwshamim

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If you have good amount of investment then why not. You can earn more than that by only playing with btc and eth to keep your investment same. As you know both of them are the kings. They will pump even if any other coin Doesn't

Taskford

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Quote from: 9thsky on August 22, 2021, 05:55:33 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 5,000 USD from 15,000 USD is very ambitious, this meas making 33% profit per months, or 400% per year. This not realistic in my opinion. As a good trader we might be able to pull it off in a good month, but making such kind of profits consistently is very hard. I think we should be more realistic. If you really want to make 5,000 USD per month you need more starting money. Aiming for 5-10% profit per month would mean you need at least 50 - 100k starting capital.

Its ambitious target for a people who only have thousands dollars in their pockets since reaching that figures is totally a hard road to take, Maybe for huge whale who can spend millions of dollars in trading then its possible for them to reach that amount but low cap gamblers should not lose hope regarding on profit earnings since we can still earn decent money our trades and the thing we need to do is settle each trades then learn how to exit or shall we say take our profits since this could help us not to become a loser on our trades.

SquallLeonhart

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Quote from: 9thsky on August 22, 2021, 05:55:33 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).

The thing is, you could always find other ways to make 5k+ per month on bitcoin, you do not have to do trading. Which means that there is a specific "need" for trading to be the main reason, which I do not quite frankly understand. Think about it, if you are a regular normal person, why would you want to spend hours upon hours trading everyday to make this kind of money when you could find other ways?

For example, buy ethereum with as much money as you possibly can and stake that? Or do that with UNI or Cake and eventually you will realize that there is still a risk involved, but you are also growing your money as well while making a profit. None of this can be done with 15k, that's way too little, but if you have something like 250k, then you could literally live your life with crypto.

I have a friend with 1.5 million dollars and he invested that into many different crypto currencies and tokens, and he hasn't worked a day in the last 2 years, plus he grew his money to even higher highs while still spending it.

DarkDays

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Quote from: mk4 on August 22, 2021, 06:20:06 AM

$15,000? Sure, very very possible. You can even make $5000 a month starting with $100 using leverage.

I think the question here is not about what the correct amount is to start with in order to be able to get 5K a month from trading but more like what analysis and trading techniques you employ, as well as which markets you follow.

Generally, when markets are green in the right market you can make 5k in a day or a week not a month, but that depends on having access to early info or else understand the market to know where to position yourself.

Even in a bear market with the right skills you can still get your monthly salary from trading. There are options like leverage and features trading one can use so it is not so much a question of the starting amount but more about skills and markets, if that makes sense.

bamb

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There nothing impossible, however, trading Cryptocurrency is not a structure for daily or monthly earnings, To earn a living, you must get a job, start a business or provide service that guarantees daily, weekly or monthly income! The volatility of Cryptocurrency market is not a good condition for stable income!

Questat

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Quote from: 9thsky on August 22, 2021, 05:55:33 AM

* 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).

No doubt and that was enough to make a good market spread. Having the advantage of that huge amount will certainly give you a bigger chance to reach your target but just be sure that you are fully prepared, have knowledge, strategies, trading plan, and you were able to make market analyzes otherwise this $15k capital might be out of your hands and lose them all.

Unless if you are good already in trading, then surely you can make $5k a month or even to double it. Just like what I said, it totally depends on how you manage your trade.

conected

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Quote from: kram31 on August 23, 2021, 03:54:59 PM

Yes! it is absolutely possible especially if you are full of knowledge here in crypto trading concept dude.
And my only advise to you only is that you must have a goal target daily in your routine life here in crypto
space, then you must also know what coin your gonna trade in the market too and you should know how
to risk your assets here, good luck.

- Daily goals are goals where you can use your efforts to determine the results, very few factors can be detrimental unless you become lazy and do not accept the goal but daily goals are not a good habit for trading, especially with day trading because there are so many factors that can make you passive. More precisely, your one effort cannot replace the perspective of the market, set daily goals with it, you are just exhausting your labor, the candles here are very unusual, knowledge can only be used for the long term

ophyrim

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Yea of course it is possible there are tons of people who earn their living with trade. But trade is not easy. 95-98 % of the traders are losing money. Trade is a serious business. You have to work very hard. And of course, education is very important.

Oceat

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Quote from: Sihab76 on August 23, 2021, 07:50:29 PM

It is not at all possible to earn $5000 a month because if you use a cryptic signal it is possible to earn five thousand dollars in a week. Otherwise if you enter in future trading then if any specific signal can give you opportunities then you can earn money$5000 within a single day.

Are you talking about the pump signal of a group? I don't think they will be profitable in the long run because we all know that the first one to know it were the ones that get the profit first and the rest is almost nothing. It's better to do some TA in that way you could predict the future price although I can't say it's profitable enough to meet the $5000 a month but if someone manage to make a profit for their small capital then it's already an achievement.

Just know that not everyone could make the X profit with their X capital it all depends on what level are their knowledge and experience about trading. But as long as they could make a profit that's enough as an experience.

Sihab76

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It is not at all possible to earn $5000 a month because if you use a cryptic signal it is possible to earn five thousand dollars in a week. Otherwise if you enter in future trading then if any specific signal can give you opportunities then you can earn money$5000 within a single day.

tygeade

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Quote from: lienfaye on August 23, 2021, 06:34:01 AM

Its possible but expect that it wont be easy. It takes knowledge, skills plan and strategy in order to achieve your target profit in a month.

And it needs a hell of lot of luck to make 5k bucks with a modest capital of 15k to start with. If I was in his shoes, I would have not set any targets and start trading because setting targets either make you greedy if you achieve them or weak if you fail to achieve them.

Quote from: lienfaye on August 23, 2021, 06:34:01 AM

Some experience trader were able to profit huge even with a small capital because they are knowledgeable on what they do, so the success will depend on you alone.

Those are analysts who can fundamentally analyze a project and determine whether it's worth investing or not.

Quote from: lienfaye on August 23, 2021, 06:34:01 AM

Currently the market is turning bullish, a chance to take advantage but careful on what coins you're going to trade especially on altcoins because its quite risky compared to bitcoin.

During a bull run, it's simply best to put money into bitcoins because no altcoins can match the same growth during the bull run. When not much is happening in the market, go for altcoins with potential.

crzy

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It’s possible but your profit in trading will depend on how much is your knowledge about trading, though you have a good capital to start with profit is still unpredictable. You might be able to hit that target but its too hard to tell that you will have the same result every month. We’re talking day trading here with that huge capital, I hope you know what to do because that money can easily be loss if you don’t know much about trading, this is risky but still profitable with your strategies and analysis.

nelson4lov

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Top Crypto Casino

Quote from: TheListener on August 23, 2021, 07:42:19 AM

Yes it's possible but is this not easy to make 5000$ in month because it's depend on knowledge skills how much you have knowledge about trading and you have a good invest to earn a big amount .

Hitting $5000 every month takes a lot of grit and determination not just the knowledge level and capital even if they're good factors that plays a key role but everything has to be in place to hit such target on a monthly basis. Aside from this, there needs to be a trading plan focused on the target and should be followed religiously and consistently ~ no exceptions.

But it would be wrong for a beginning trader to put up high targets like that. Best to start with a smaller, realistic target and move on from there.

kram31

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Yes! it is absolutely possible especially if you are full of knowledge here in crypto trading concept dude.
And my only advise to you only is that you must have a goal target daily in your routine life here in crypto
space, then you must also know what coin your gonna trade in the market too and you should know how
to risk your assets here, good luck.

isaac_clarke22

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Quote from: 9thsky on August 22, 2021, 05:55:33 AM

~

As what el_kaka22 mentioned above, it's all about how can you sustain.
15k is quite a lot to be honest. Considering that you don't have other means of income makes your decision to trade risky. Think of the what ifs, because losing that amount based on your condition is gonna be a nightmare. Trading, as what mk4 mentioned, isn't guaranteed profit. Take it from my experience as well when I day trade with just a small amount and I thought I was doing good with all these damn indicators, but it went all loss as the market condition itself is just not the "perfect time" for me to day trade.

el kaka22

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It is not about $5k, it is about sustainability and that is the big problem. You could make 100k with 15k in a month if it is a bull run month and you are lucky, but it is possible to lose 50%+ of all your capital as well if you are unlucky and in a bad month. In the same month that everything went up 2x, it was easy to make that kind of money, in the month that everything went down 50% it was impossible for anyone to make money, this is just the last 6 months we are talking about, so it is recent memory.

So yes, it is quite possible to make 5k out of 15k in a month, quite easy, incredibly easy, for the months that you are lucky and there is a bull run going on, but you can have maybe few months a year for that, but there will be few months when it is bear run and not only you will not make money but you will end up losing money as well. Which is why it is all about sustainability and how it is impossible to keep doing that every month.

Jilapikhamu

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If you have knowledge what you doing then you can earn more than this. If you Don't know what you doing than You lose all your money

Hendra gunawan

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Trading can't be profitable every day. So maybe this month can profit $ 5k or more but next month not necessarily profit. So the answer is difficult, especially since the crypto market is very unstable. When the market is in a downtrend, it is very difficult for us to make a profit.

Obito

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I don't think that anyone could do that,, unless they have a considerable amount of money to daytrade and they are most likely to profit from their trades rather than lose then probably there's a possibility that a 5k USD a month in daytrading could be made.

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