Today I’m going to be telling you exactly how you can potentially make a $100 a day trading cryptocurrency on Binance.
Now, a lot of people ask how can I make a hundred dollars a day? So I’m going to be breaking it down all the truths, you need to know how much you need to be trading with and some of the tools that you should be used to in fact go ahead and try and make this hundred dollars a day.
So a quick look at the markets. We are seeing a correction in the market cap is low 300 billion which is not too great big cone we see in 24 hours has taken a bit of a hit.
Theory and a bigger hit and we’ve got some double-digit hits as well, which aren’t too great. But slowly they are coming down and I think we will see, a little bounce back as we have in the past few weeks with this kind of up and down cycle, that we’ve been having with the markets.
So, Binance, a hundred dollars a day let’s do it. Is it going to be some truths? The numbers and also the methods. So, first of all, I want to let you guys know that even pro traders make losses when they trade.
This is something you have to pretty much except learn to accept and overcome before you get started. A lot of people message me maybe that in my trade calls or they followed some at some videos on the bitcoin blueprint, and they said Jack I’ve followed all your steps and my first trade I made a 2 percent loss.
Guys, it happens even people who trade professionally with hundreds of thousands of dollars each trade they still make losses. You cannot simply make a profit. Every single trade every single time. It’s just not possible. It really isn’t.
So once you learn to accept, some trades will be winners. some traders will be losers, as long as they have more winners and losers as long as you learn to accept that then you can move on and pretty much get accustomed with trading.
So, some of the truths I want to tell you about. Trading can be really stressful. Never trade with money you need to pay rent or you need to live with it. This is just complete stupidity.
Only trade with money you can afford to lose in a worst-case scenario. Whatever you have on your Binance account make sure you can afford to lose that because you don’t know what’s around the corner in your life.
And also in the market, your call might break down the market might take a tank or something like that. You never know. So I’ll never trade with money you can’t afford to lose. Now not every trade you make will be profitable.
As I said before, even now when I trade not all my trades are profitable but I’m more than happy.
I’m more than happy to close my trade at around a 3 percent profit but with the right tools and indicators, mainly the right tools, you can make that 3 percent safely become a 5 percent profit without really risking too much more.
How trading Cryptocurrency on Binance works?
As I said before around a 3 % trade 3 % profit trade is doable, if people are telling you like 10 to 15 % a day trading or yes you can. But it really depends on the market. 3 % a day profit is attainable not too far not too, it’s not too far out of reach should I say, it is more than doable.
So a 3 % trade if you’re trading with 3000 U.S. dollars. So around 0.5 something like that Bitcoin maybe 0.4 bitcoin, something like that sort of roughly around 90 dollars.
Now there is a 3 % trade. Yes, you can make 5 % trades profit, but when you first start trading a lot of people messaged me saying I’ve got nine hundred dollars, Jacko got six hundred and thirty-two dollars 32 cents on point five.
Two bonus tokens on my account. How much can I make? Well, when you’re first starting trading do not focus on the dollar amount of profit you make. Only focus on the percentage.
If you’re trading with six dollars, if you’re trading with a million dollars, well maybe not a million but when your first trip starting out trading around you only really recommend using one hundred dollars or less to trade with, that’s simply because you want to get the principles right.
You want to be making profitable trades percentage-wise. Forget about the dollar amount. I don’t care if you make a dollar 60 on your first trade.
If the percentage is good, that’s what you need to think about. So focus on making those percentage profits and not the dollar profits.
The more you trade with, the easier it is to make a profit. Yes, but on the other side of the knife, it’s also a lot easier to lose money.
And you definitely need the right tools to trade with. If you’re trading and you’re not setting a stop loss, then I’m sorry but you unless it’s a swing trade or even a short term hold for six months, you’re pretty stupid because you really need to be using a stop loss.
So trading isn’t easy. If there are tools to educate yourself and to help better yourself, when it comes to trading you better be.
Also, the trade calls which are also there, we can see here trade calls, Forty-nine bucks a month. The last two trades one with one was eczema to like a 5 percent profit.
The last one a few days ago, was Tron T-Rex which was around a 7 to 8 percent profit. As I said before in the previous slides, not every trade is possible. You have to understand this.
Next 3commas, if you’re not using three commas guys 3commas is pretty much a god send down from the clouds.
They help us to help you and I am trading the things that these guys are doing and the tools that they offer can absolutely Excel your trades to the next level.
I’ll take a look at this a little bit later. So stay with me.
Also another tool, it’s not really toolbox, its an advice. Try the small amounts as I said earlier. You shouldn’t be trading with anything more than a hundred dollars if you’re just starting and that is for sure.
Trailing take profit vs a Trailing stop loss
So these are two little gems I want to introduce you to. I’m sure I’ve told you about them before but it’s a trailing take profit and a trailing stop loss. Now, these two tools are available over on my favorite site: 3commas.
If you’re not using this to trade you should be because you can get a lot more profit squeezed out of every single trade. Now, first of all going to go over the trailing take profit, so basically what this is? if I just refresh the page and this I started playing already got them so we can see here.
We have our buy level here which we bought in at. We have a profit level here so we can see it goes up. It passes the take profit level and now we can see the trailing take profit increases.
So, we increase, we wanted 5 percent but instead of 5 percent we actually got a 9 percent profit. This is the trailing take profit which is over on 3commas.
So you can see what we bought here or our profit. All we want is here 5 percent. So when it hits below 1 percent, the trailing take profit is activated, it then goes all the way up it follows the price up to and then is you said to us on this instance is 1 percent, I believe it will go all the way up.
And then when the market falls 1 percent, it will then make a profit there. So instead of making a 5 percent profit, you made a 9 percent profit from doing no extra work whatsoever.
So as a trailing take profit, they also have a trailing stop loss, which works as well to pretty much protect your forms a lot better. So we can see here the buy-in level is here. That’s where we bought in our stop losses here.
As the market rises the price increases, because we’re using a trailing stop loss rather than that stop-loss, staying down the stop loss in fact increases as the market price increases.
Now, why is this better? Well rather than in fact going ahead and having a stop loss down here which it was you stop loss moves up with the market.
So, you’re making a lot more money and protecting yourself, as you can see here the market rose all the way up here to like 14000 Satoshi is but your stop-loss is down here around 11000.
So, if you don’t have a trailing stop loss, the market would have gone up and it could have potentially come all the way back down.
And your stop loss could have hit and you could have woke up and been like oh it wasn’t a great trade, but with a trailing stop loss you can, in fact, take your stop loss and make you increase as the market increases.
So this is really valuable guys. And I’m going to be getting into an example of this in just a second.
The final piece of advice for again the example starts today. Go ahead and go out there making an account on Binance. Put some money in 50 hundred dollars whatever you’re comfortable with and just start making trades, just to start doing it.
If you make a loss, that’s fine. If you make a profit, that’s great. But the only way you can truly improve is by actually doing it.
So, that’s one thing I recommend to you guys. So I’m going to talk to you about how you can actually make 100 dollars a day. It’s not that easy guys. It is doable.
That’s for sure but it’s not easy. Don’t think just because you go make your first trade you’re going to make 100 dollars profit. No, it doesn’t always work like that but it is easily attainable with a little bit of effort and persistence.
So looking at the markets here, we can go ahead and use the price change 24 hours. We can see some coins are coming back in. But I want to focus on the ones I’ve taken a bit of a loss.
So, looking here at some of these coins we can see loom here. This is taking a pretty big hit at 10 percent in the last 24 hours. We’re going to see it swiftly gone down. So, if we were to go over to Binance and take a look at it, we can see on Binance it did take a huge hit.