Realistic Income As a Crypto Trader

[rainbow_jeremy]

Hey guys,

I'm curious what a rough amount of income someone can generate from trading cryptocurrency is (monthly or annually is fine). I know there is a wide range depending on skills and also on capital used to trade, but I'm just looking for a rough answer.

For example is it basically impossible to make $1M a year just due to lack of liquidity? Or do only the absolutely best of the best make that kind of money? Thanks in advance for your help!

A little background about me:

I'm new to the cryptocurrency trading world but not new to trading.

I worked as a quant trader for a big name for a few years, but decided to leave recently and don't particularly want to go back to that lifestyle. It paid extremely well but I much prefer working from home. I currently have about a 50k bankroll I could start with.

My current full time work since leaving my vanilla job is as a political prediction trader here in the United States. I'm able to generate about $12.5k a month there (150k a year) with about 20hr/week of work but because of size limits on trading (for regulatory reasons) it seems hard to advance must past the $250k range, and that's only when markets get busier during election season. Wouldn't matter that much if I spent 40 hours or even 60 hours, just the liquidity is limited and the sizing of trades is limited.

So I do have trading experience but obviously every market is different. I understand fully that I would have to spend a while before I could consistently generate profit trading cryptocurrencies. My first year on PredictIt.org I made $1000. This year I expect $150,000 on a starting amount of $5,000.

EDIT: I plan on doing everything above board while trading, especially taxes. My trading style is usually short term day/swing trading currently. I don't plan to speculate what the next coin to make a 5000% jump is.

Thanks.

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[Serpens66]

what answer are you looking for ?!
I guess there are only very few traders that make decent money with real daytrading strategy. And I doubt these will share any info on how much they gain.

I think the answer on how much money you can make is:
It ranges from a loss of everything what you have .. to a profit of +100000% .
I think everything is possible, depending on your skills.

[rainbow_jeremy]

I'm sorry I don't understand why this would be super secretive information?

I'm not expecting someone to say "Hey, using XYZ specific strategy I can make $xxx per month"

Just something much more general like "good traders can turn 10% or so per month trading coin, although once you have more than a million invested it's hard to get out". Something like that.

[chickenado]

what answer are you looking for ?!
I guess there are only very few traders that make decent money with real daytrading strategy. And I doubt these will share any info on how much they gain.

I think the answer on how much money you can make is:
It ranges from a loss of everything what you have .. to a profit of +100000% .
I think everything is possible, depending on your skills.

Exactly, the income depends really on how you decide and enough knowledge is better in order for you to stay focus and informative on which coin to invest in crypto marketplace. Certainly 100% guaranteed realistic money will come in your hands personally and that's proven myself because I am a crypto trader.

[avikz]

The income from trading purely depends on your initial investment and also on your patience. If you are investing a good amount of money at the initial stage, then it is not hard to make a living through trading. I earn a good amount of money from trading every weekend which can take care of my monthly grocery bills and also can cover my outing expenses.

However, if you are eager to make quick profit then, please refrain from investing in trading, because trading requires a lot of speculation and patience. without patience, you will be doomed very soon.

[klf]

I'm sorry I don't understand why this would be super secretive information?

I'm not expecting someone to say "Hey, using XYZ specific strategy I can make $xxx per month"

Just something much more general like "good traders can turn 10% or so per month trading coin, although once you have more than a million invested it's hard to get out". Something like that.

I never really go for day trading but buy some good coins and wait for prices to go high to sell. I enter into Bitcoin investment quite long back but started investing in altcoin only from last one year. In my last one year, I made more than 100% profit from my altcoin investments.

I choose only a few good coins to buy when prices go down and sell when I reach my target profit range. I'm not sure whether I have answered your question or not but if you buy good coins and can wait for prices to go up then you will make a good profit.

[U2]

What is realistic? 5% some days, break even or close to it other days. Unless you are right most of the time, it's a crap chute. There's no way to say in btc or fiat because if you invest $1000 vs $1,000,000 it's going to be a lot easier to make money with the $1,000,000.

[michellee]

I'm sorry I don't understand why this would be super secretive information?

I'm not expecting someone to say "Hey, using XYZ specific strategy I can make $xxx per month"

Just something much more general like "good traders can turn 10% or so per month trading coin, although once you have more than a million invested it's hard to get out". Something like that.

I never really go for day trading but buy some good coins and wait for prices to go high to sell. I enter into Bitcoin investment quite long back but started investing in altcoin only from last one year. In my last one year, I made more than 100% profit from my altcoin investments.

I choose only a few good coins to buy when prices go down and sell when I reach my target profit range. I'm not sure whether I have answered your question or not but if you buy good coins and can wait for prices to go up then you will make a good profit.

agree with you because for now, it seems every altcoin will make adjustment because of bitcoin is increase too high and I think soon altcoin will be rise too and the price will be increase drastically. I think the OP need to learn basic trading for cryptocurrency because in cryptocurrency, its different than forex or other trading so its wise if he can read or learn something before he doing trading.

[pawanjain]

Crpto currency is very volatile in nature and so it has its ups and downs then and there. There will be times when we can make huge profits and huge losses. We have to be ready and patient for it to happen. The income we make by crypto trading may differ according to the capital we invest in it. Lets say we can earn an average of 20% in a month but thats not fixed. We may earn more or less depending on the trend going on in the market.

[mk4]

There is no like a certain amount you can earn with cryptocurrency trading. It's almost like asking how much you can win via playing poker or whatever gambling game people play these days. Because it's also somewhat a gamble. There is no way for you to like predict with 100% certainty what the prices will be throughout the day/week/month/year. Since you said you're a trader, you probably already know this but there are also chances of you losing money. There are simply just a lot of factors that decides if you make a profit or loss, or how much that profit/loss will be for you to know how much you're gonna earn/lose per month. Your possible monthly/annual income is just simply -$9,999,999 to $9,999,999 per month depending on your budget. Not to mention crypto's volatility. High profits and high losses are to be expected.

[Fatunad]

Hey guys,

I'm curious what a rough amount of income someone can generate from trading cryptocurrency is (monthly or annually is fine). I know there is a wide range depending on skills and also on capital used to trade, but I'm just looking for a rough answer.

For example is it basically impossible to make $1M a year just due to lack of liquidity? Or do only the absolutely best of the best make that kind of money? Thanks in advance for your help!

A little background about me:

I'm new to the cryptocurrency trading world but not new to trading.

I worked as a quant trader for a big name for a few years, but decided to leave recently and don't particularly want to go back to that lifestyle. It paid extremely well but I much prefer working from home. I currently have about a 50k bankroll I could start with.

My current full time work since leaving my vanilla job is as a political prediction trader here in the United States. I'm able to generate about $12.5k a month there (150k a year) with about 20hr/week of work but because of size limits on trading (for regulatory reasons) it seems hard to advance must past the $250k range, and that's only when markets get busier during election season. Wouldn't matter that much if I spent 40 hours or even 60 hours, just the liquidity is limited and the sizing of trades is limited.

So I do have trading experience but obviously every market is different. I understand fully that I would have to spend a while before I could consistently generate profit trading cryptocurrencies. My first year on PredictIt.org I made $1000. This year I expect $150,000 on a starting amount of $5,000.

EDIT: I plan on doing everything above board while trading, especially taxes. My trading style is usually short term day/swing trading currently. I don't plan to speculate what the next coin to make a 5000% jump is.

Thanks.

If you ask me the possible realistic income as a crypto trade would really be unlimited and range-less because we do know crypto market is so vast and prices would go in higher ranges which could really possible give us 1000% percent return in an instant but depending on the coin which means its still not guaranteed on how many percentage we do make since not all coins would pump just like that.

[Goldmanfuckhs]

It is possible but the risk is high.
It may be possible now if you have a certain amount of asset

Crypto is growing, dont be surprised if next year it is ways bigger, so it is possible to trade it for main income

[slaman29]

You say you have a lot of trading experience so this should not be the question to ask... how much is dependent on your skill and luck. Yes luck. But you know this, correct?

But let me try to give you a good answer. If you are a short term trader, you want to spend like 5 hours? You can maybe get I don't know, $50 profit per day realistically if you are safe. I mean, I have sat down for 5 hours looking at it and not many markets are so active in volume.

[romani245]

The major question you have to ask yourself: Will you use regulated exchanges and pay your taxes to the penny (short term capital gains taxes in the US, for example, are brutal)? Or will you use unregulated exchanges and risk getting exit scammed or FBI'd? If you go the wild west unregulated route, you really need to factor in the risk of losing everything held on the exchange.

[buwaytress]

Actually, I'm really curious about why someone with your significant experience would ask such an open question. As you already say, the range is wide. The most successful day traders I read about claim a consistent profit of around 1% per day, working out to about 20% a month nett. Many of them use trading bots (not to make trading decisions for them but to automate trades for them), but I couldn't say if these claims were true.

My feeling is that most traders who lose are unlikely to announce it, while those who profit tend to share. So expectations are skewed based on visible evidence.

Don't think your experience means you're prepared for crypto! It helps, but you'll take time to adjust.