Profits of $1 and $2.5 dollars are small profit with such capital, how do you settle the trading fees? Is it after the fees you get that PNL? I think there are other pairs in the exchanges you can trade to make an average of 5% in a single trade. With such a candle move, 5% of your margin is enough to give you a $25 profit, give or take you should be able to make more than $15 a day at an average condition of the market.
The profit is what I am talking about, the fee is not calculated with it. Trading fee of $500 is very small. For taker with 3% trading fee, that is just $0.15 for opening and another $0.15 for closing position. If I use take profit, the order will be of maker fee and the fee can go lower.
A 5x should increase your margin total capital to $1500, if the risk-to-profit ratio of any trade you have in mind is low, it will do you no good, I think that original capital is good enough for sweet profit unless now that the market is not stable to open trades.
5x would increased the trading fund to $2500, not $1500. Probably you mean 3x. People have different strategies, I use up to 3x to make the entry price get closer to the mark price to be able to earn better while losing already, but as you know, the closer the liquidation. I am planning not to go further than 3x. I hardly leverage though.
No trade is perfect and we choose what is good for us likewise you have chosen to go the way you are going. But I think when a strategy is producing result like us and it is steady then how do you want to change a winning strategy? You don't need to start worrying yourself if you are making steady $1 or $2, that means you have a working strategy. However, your profit margin is very low and it will amount to nothing at the end of the day, your cost and expenses plus time. If you want more, do a little of risk appetite.
If we can make $1 - $2 per day, there is a possibility that we can make $5-$10 a day. Yes, it is all about finding the most effective strategy and huge capital as well. Though earning $1 a day is not really satisfying but at least it was better than doing nothing. Well, as it keeps going, we can learn more things that can help improve our way of trading as we can't expect it instantly but as scalpers, there is a huge chance of getting higher especially if we already have long trade experience. We don't need to rush but have to keep timing together with hard work and perseverance.
Not only that, earning $1 to $2 dollar a day is better than losing to trading. That makes it satisfying for me. There may also the good days, like yesterday I went short and I earned up to $38 because I knew the market might went down. Although I used $630 for the trading to open 1x short position.