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?
In my experience, when I do day trading, usually on the spot, the amount I use is around 30 to 50 dollars. During the whole day, my time frame is only 1 hour and is often extended because there are no changes in movement. , so overall in 1 day it is around 2-3$, but depending on wild volatility, it can be higher than that.
So, I think that if 50$-100$ profit a day is a large amount you need to use in day trading, it depends on your skills and understanding of trading. That means it's not easy to earn that in one day just for my assessment.