Simple Method To Make $100 A Day Trading Cryptocurrency As A Beginner | Binance Tutorial Guide

Summary

This video offers an updated guide on making $100 per day by trading cryptocurrencies like Bitcoin and altcoins. The presenter shares techniques for identifying profitable coins on platforms like CoinMarketCap and trading them on exchanges such as Binance, using tools like TradingView. The focus is on utilizing indicators like Bollinger Bands and RSI for safe and profitable day trading strategies, with tips on spotting buying opportunities and managing trades within a day for consistent earnings.

Takeaways

• 😀 The video aims to update viewers on techniques for making $100 per day by trading cryptocurrencies like Bitcoin and altcoins.
• 📈 The presenter suggests using platforms such as Binance, Buybit, and Femex for trading, and TradingView for charting.
• 💻 CoinMarketCap is the starting point for daily trading activities, offering a view of the market's health and price movements.
• 🔍 Filtering and sorting cryptocurrencies by 24-hour and 7-day performance can help identify potential trading opportunities.
• 📊 High-volume coins are preferable for trading to ensure liquidity and the ability to enter and exit trades smoothly.
• 📉 The script mentions looking for coins that have seen significant declines as potential buying opportunities.
• 📈 CryptoBubbles.net is another resource for visualizing market trends and identifying trading opportunities.
• 📝 The presenter offers a Bitcoin Blueprint for those seeking more in-depth knowledge on trading strategies and techniques.
• 💡 Bollinger Bands and the Relative Strength Index (RSI) are highlighted as key technical indicators for identifying trade entries and exits.
• 🤑 The goal is to make consistent profits, aiming for 2-5% daily, though acknowledging that profits and losses will vary.
• 🔗 The video includes links to exchanges offering bonuses, as well as a free strategy and assessment call for interested viewers.

Q & A

What is the main topic of the video?

The main topic of the video is about teaching viewers how to make $100 per day by trading cryptocurrencies like Bitcoin and various altcoins.

Why did the creator decide to update the previous video on this topic?

The creator decided to update the previous video because it has been a few years and there are now more altcoins in the market, along with better techniques for trading them.

What platforms are mentioned for trading cryptocurrencies?

The platforms mentioned for trading cryptocurrencies are Binance, Buybit, and F Mex.

What website does the creator recommend to start the day with when trading cryptocurrencies?

The creator recommends starting the day with CoinMarketCap to check the prices, portfolio, and the general health of the market.

How can one identify potential coins to trade on CoinMarketCap?

One can identify potential coins to trade by filtering and sorting the cryptocurrencies by their performance over the last 24 hours or seven days, looking for the highest gainers and losers.

What is the significance of checking the volume of a cryptocurrency?

Checking the volume is significant because it indicates the liquidity of the coin. A higher volume, ideally around 30 to 50 million, makes it easier to enter and exit trades without affecting the price significantly.

What is the role of Bollinger Bands in the trading strategy discussed in the video?

Bollinger Bands are used as an indicator to identify potential trading opportunities by showing the price movement between the bands. The price typically bounces from the lower to the higher band, indicating potential buy and sell points.

What is the second indicator used in conjunction with Bollinger Bands in the video?

The second indicator used is the Relative Strength Index (RSI), which helps identify overbought or oversold conditions, typically when the RSI is below 30, indicating a potential buying opportunity.

What is the recommended time frame for day trading in the video?

The recommended time frame for day trading in the video is the four-hour chart, as it provides enough information for making trades within a day.

What is the Bitcoin Blueprint mentioned in the video?

The Bitcoin Blueprint is described as an A to Z guide on how to make money and grow wealth with cryptocurrency, covering long-term investing, day trading, and swing trading strategies.

What bonuses are mentioned for using the exchanges featured in the video?

The video mentions bonuses for using the exchanges Binance, F Mex, and Buybit, with Buybit offering around $1,600 and F Mex around $200 in bonuses.