Keep your focus on how to make money.
Dont try to predict Market too much.
Stay away from btc If you are futures trader btc moving too slow.
Best is If you Open position everyday long or short keep the position Open few HOURS and cash Out the profit then forget about Market and btc go do your normal life things.
Biggest mistake traders do are this they Open positions like eth btc then those coins tend to move slow and while they waiting they might change their mind and making mistakes.
You should only focus on few HOURS how to cash out money from Market that's it.
I don't read any news i dont care much about btc and price but everyday i make money becouse i Open position for few HOURS and then whatever money i make i cash out this money.
I been making mistakes like i Open btc short when i know Market is up but still btc did not moved like few days so it means i did not make any money few days i was waiting like a fool instead of that If i was gona long and short other coins i would Made money everyday.
Most important in crypto is stable income everyday.
Just becouse btc are so slow i dont trade btc with futures much but If i do then i also trade others i dont keep my hopes on btc much.
But btc are great Market indicator so i use btc price as Market indicator to know when to long or short.
If you follow this plan you can get better results from trading like i said dont focus on too much market trend but try to find coin short or long it in few HOURS take the money and close the trade.
- In short, you are implying that if bitcoin is to be turned into a daily income trading it is not an effective method. In this regard, if the equivalent of your money is below 100$ and you do this day trading, you will get very little, it depends on your knowledge of graph or chart analysis. Future trading is not advisable or applicable to newbies, because you will only get confused. After all, it is the opposite of spot trading.
So it seems that what you are suggesting is a good thing to do now to earn money every day is the scalping method, right? If this is the case, remember that it's also a bit risky, you might forget dude. Even if you are not scalping if you have 200$ to trade in Bitcoin, you can earn from this amount 5-10$ per day, depending on the increase and decrease in the value of bitcoin, this is based on my experience, even Just check your trading activity twice a day.
In short i use 20x Lev sometimes Even higher.
I make sure STOP LOSS will last long few hours or at least i try to make sure.
So i Open trade and usually 30-50% nothing special daily profit usually i hold position 3hours to 12hours.
I Open 2 trades usually daily one trade with stop loss closer and the other position with stop loss further.
I use 100-200$ per trade and my stop loss will be like 20$ loss If hit stop loss when i use 100$
So Simple and effective way sometimes my pos will hit sl but usually 5 trades of 7 are good not hit stop loss.
I dont see any reason why cant earn few thousends $ monthly with this method.
I dont overthink about Market all i do i try to do right entry timing to get at least some profit