Is it possible to make $5,000 a month day trading?

With the following criteria...

1) Make spendable (can't use it to trade) $5,000 usd net a month.

2) Daytrading full time.

3) No other means of income (can't sell my service).

*4) Starting with $15,000.

5) Trading all crypto (not just btc).

* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).

$15,000? Sure, very very possible. You can even make $5000 a month starting with $100 using leverage.

But the question is, how good are you actually with trading? Because the results will mostly depend on your skills/knowledge rather than your bankroll, and how much risk you're willing to take. You can even start with $1 million but you'd lose it all if you don't know what you're doing.

Crypto trading earnings will be quite irratic I think. There's going to be no % accuracy you can bet on earning repeatedly.

I'd say, trading forex or stocks at the moment you might be able to make ~1.5% a week without much risk but there's the problem of that becoming less volatile too after the pandemic and not doing so well - and finding a strategy that can reach that. You'd need a lot more additional capital for both strategies though too... (you're probably better off just holding stocks).

Yes it's possible but make sure you're good at anything when it comes day trading wherein in order to have a good win rate everyday.. Indeed you have a big capital so you can obtain good profits as well afterwards.. Remember full time isn't a easy thing, i mean you need to keep monitoring the market growth rate so that you know what's happening and lastly don't forget to keep updated with news as well because it always influence the market performance.. Just focus what you doing to don't miss all the opportunity to ride the trend, forget your emotions when trading to avoid doing mistakes..

The amount you mentioned in the post will be quite nice and achievable for your target of $5,000 a month. As it is a possible amount and even i can say you can get a profit more than the amount you mentioned for a month. I'm also a day trader and since i have small capital but i also earn a lot from that small capital too.

Quote from: checkmatesir on August 22, 2021, 10:44:39 AM

What's your strategy, if you don't mind me asking?

With that capital yes.

You can even make less than 30 days with that capital but I don't know how good you have to be with that. But for sure, you really have to be good.

The balance of $15,000 can give you more than you are estimating for the month. The profit of $5,000 is easy to achieve even before the month ends and how it can be easier is to trade in highly volatile coins like bitcoin. Bitcoin was around $29,000 the past one month and now above $49,000. The calculation of the difference of $49,000 - $29,000 is $20,000 , this is really big as you can see for a month.

The above analysis is if you just bought and hodl, you would have made like $20,000 without trading at all, just with your investment resting on your wallet or exchange. Therefore, if you do trading and you understand how to enter in the right time and exit time too you can keep smiling all the time with profit above $5,000.

The issue is to do the right kind of trade decision. Hodling and trading at the right time is a good way to good profit.

Quote from: 9thsky on August 22, 2021, 09:55:33 AM

...

You are a beginners, there is a chance of 95% or more that you may lose the $15000 than gain, you are a beginners, you will need to first learn how to trade, no other ways after you have known analyses than to use very small amount of money, you can start with $100 or less and see how it goes. I will advice you to wait for the market to dump and invest $15000 instead of trading it, day traders can lose all their trading capital in just a week even in just a day, try to start patiently and be carefully, have good money management.

Possible, but there's no guarantee that you will easily make money in trading, you might face different consequences and remember always how to handle risk or manage risk in trading that usually newcomers don't have.

I don't know how good you are in trading because you didn't tell us above, this also varies on your skills and knowledge in trading. Because there are too many ways or strategies of making a profit (or losing profit) in trading. But before you will start, please consider this advice as to your first step in trading, or either you've your own research in the first place.

Pick a good exchange trading platform that suits you as a newbie or expert.
Find a good source of information regarding trading and start your Fundamental and Technical analysis.
Look pattern and create your own forecast upon predicting the market.
Use advance tools that can help you in trading.
Risk Management.
Portfolio Management.
Set a trading plan and stick to it.
Target profit, avoid being greedy.

Quote from: mk4 on August 22, 2021, 10:20:06 AM

I think the sky is the limit when it comes to trading but like what you mentioned, it all boils down to your experience and skill in speculating the market.

Even with a minimum invested capital as low as $1,000, any amount of profit is achievable but you have to consider the opportunity and luck playing a big role on this aspect. An experienced trader may earn as much as anything on a given month but they can still earn and lose at the same time depending on the market.

Bottomline is, trade in order to gain experience. After attaining such skill, then you can start putting large amounts of sum in your trades.

Quote from: qwertyup23 on August 22, 2021, 01:52:36 PM

I think the sky is the limit when it comes to trading but like what you mentioned, it all boils down to your experience and skill in speculating the market.

That's pretty much it. The height of the ceiling only depends on how much risk you're willing to take. But of course, at the same time it could just as easily go the opposite way and end you up with zero in no time.

Like mk4 said you only have to be good at it especially in margin trading if you do it on the spot market, it may be very different and you can only earn $5000 if you can wait in holding. Hard to try futures if you are unsure of what you are doing.

If I have to gamble my I would try the VET or Siacoin, and keep busy trading in the 4 hour chart. This suggestion is just a gamble because I've tried this before with Doge and it worked well because a tiny increment of price is a big profit.

Quote from: mk4 on August 22, 2021, 10:20:06 AM

Using leverage is very risky specially when you have only 15000$ for trading and you can't afford to lose money. You can try spot trading but remember you need to be a professional trader in order to make money in day trading, else in most of the time you will be stuck in the coins.

It is super possible it depends on how much money you will risk and it depends on the leverage you will set if you have a good catch up with an uptrend coin and you set with the higher leverage there's a chance that you will get the monthly quota you want but of course the higher the leverage the higher the risk it is most It is better to have a stop loss and take profit again trader is the battle of the mental and emotional state if you already losing or taking profit to handle the risk don't get too much greedy or hopeful.

nothing is impossible in crypto to score anything. Most importantly you are good at planning , managing finances and a good strategy . If you can do that, I don't think anything is impossible. Maybe we can't get 100 percent profit but we can score 10% many times.

It was hard to measure how much we were able to make in a month due to the market volatility but if you are guided with your effective plan that seems to be achieving ($5k is quite small). And not just a plan could help but also the capital we invest in trading as I know and as I what to believe that huge capital gives you a bigger chance to make a big profit, may losing it is possible but if we talk about profit gain, that will consist advantage as we can spread more coins to trade.

Quote from: 9thsky on August 22, 2021, 09:55:33 AM

Nothing is impossible, everything is possible.
But yes you need to learn some experience.
If you have good experience and knowledge and 15k USD to trade then it’s possible to make 5k usd per month.
Yes it would be more easier, if you can follow paid calls or follow good free calls and choose right coin to invest.
Hope you make good income from this and hope my suggestions help you.

As said before, it's possible with leverage with even less initial capital.
But, when you analyze the price of cryptos since the beginning, the less risky way is to buy and never short! Buy the bottom but don't try to short the (potential) top, moreover if you use leverage, it's the best way for losing all your capital Wink

Quote from: MFahad on August 22, 2021, 02:40:15 PM

Yep. If you use leverage willy-nilly then of course it's really really risky. But then again, maybe don't even trade at all if you can't afford to lose money in the first place. Trading is never guaranteed profit.