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?
Since you have been around crypto for a long time, from what I know, you have a good understanding of one. So you hold some coins for better benefits. And you need good experience if you want to earn in spot trading. And I think that what you want to do will be very risky.
That's why my suggestion is that you just invest and sell as soon as the price rises by 12-20%. And I think it is better to stay away from spot trading.
That would definitely be something that you could do if you really want to do but that doesn't mean that you should and that is the only thing you have to do. That is definitely not the right method to me for example, I try to hold as long as you possible and that would be profitable if you hold it long term.
There are a lot of people who made a killing by just holding and doing nothing at all. This should be just the way to go, and if you really want to sell that is also the possibility and you could go with that as well, but in that case you shouldn't really put any type of limit to it, you should try to make it as much wider as possible as long as possible for the long term as well. This means that the results will be depending on the market movements for the personal preference.