Cryptocurrency trading can be an incredibly lucrative venture for those who have the necessary skills and knowledge. However, many people are hesitant to start due to the perceived complexity of the process. In this article, we will outline a simple method for making $100 a day trading cryptocurrency, even for beginners.

– Strictly manage your risk
– Seek out opportunities for short-term gains
– Utilize technical analysis to inform trading decisions

In this video i’m going to show you how i trade cryptocurrency and how i have traded for more than a decade in both the crypto and stock markets i was actually a professional stock broker when trading in the stock market so i’m going to show you very simply the steps

That real traders will go through when setting up their charts and how they can think about news and events that shape their trading i’ve boiled it down to 10 simple steps that are easy and repeatable that can be followed each time you come to trade or are looking to

Do more research in crypto find the timestamps for each section in the video description and if you want to use the same training systems as me then check out the links below because you can get deposit bonuses when you sign up so it’s going to give you you know a deposit

Bonus when you start trading so first thing you need to do is use candlestick charts this is absolutely vital i’m going to come to my buy bit to show you this if you don’t have a buybit account yet you can get deposit bonuses um when you sign up which is like a

Buffer so when you deposit some cash on account to trade they will give you some extra um it’s a nice buffer and it’s a bonus so you can check that out by the link below but first thing we have to use candlestick charts it is the only way that traders

Will look at the markets so what exactly is a candlestick chart uh very simply i’m going to show you so a candlestick chart gives us a lot more information so firstly if we had a line chart which plotted uh prices so that was a hundred what you’d have is you know monday tuesday

Wednesday like this and you just have a a line chart that tells you absolutely nothing about the trade or anything that’s happened you need a candlestick chart a candlestick is going to give you an open price it’s going to give you a close price and it’s going to give you a

High and a low that is done by the wicks like this now if the close is above the open then what will happen is that you will color this in green to denote a rising price but it tells us so much more for example if the candlestick looks like this

And it’s green what that’s telling us is that during a time period because the candlestick is a time period sellers came in and forced the price all the way down here but during that same time period buyers came in and pushed the price all the way back here and it

Actually ended because remember this is the close which is above the open which is why it’s green the candlestick during that time period finished much higher this tells me that during that time period buyers came in sellers ran out of gas buyers are pushing the price up why this is important

Is because each candlestick closes and trade doesn’t stop but the candlestick does if trade continues in the same way that it did right here then in the next candlestick i could suggest that that candlestick may also be green that means the price will go up during that

Candlestick if i can predict this then that means i can enter at the new candlestick and ride that price movement up you can see that right here what happened the price was forced down buyers came in and forced the price up and what happened in the next two candlesticks

So you absolutely need candlesticks you can come to a charting software like in buybit come over here uh area absolutely no information whatsoever candles yes hollow candles are fine bars are the same thing just a little bit of a different design candles give you lots of information so you can learn more

About them in some of my other videos but candlesticks is absolutely vital and it’s the number one thing you should use the next thing we can do is use moving averages very simply to find different areas of value and it’s going to tell us a lot about where the trade is and where

The price is in comparison to before the way i like to do things is using three moving averages a 20 a 50 and a hundred what this means is it’s going to take a moving average of the price over a certain range of dates a certain amount of periods a 20 period

Moving average is obviously fairly short-term 50 kind of medium and 100 is going to give me a longer term um kind of price level as to what is what’s happening now versus in the past each moving average gives a moving average over a certain number of periods

So if you’re using d which is day each candlestick represents a day and so that is a 20 50 and 100 day moving average if you change the chart to 15 minutes then this will be 20 15 minute periods um so it does change depending on the chart

That you’re using but i can now see by these uh by these three moving averages exactly what the trade is now compared to the longer term trend so what you can see here the shorter term period moving average the 20 day moving down through the longer period

Moving averages and what this tells me is that there’s a short-term sell-off this is kind of a bearish sign for sure when the shorter term price movement comes down so you’ve got the candlestick physically moving through so that’s one uh kind of flag and then the actual

Moving average is moving down that’s the second flag that means that that move has basically been confirmed so this tells me everything i need to know where is the short-term trade versus the longer-term trade now what a lot of people do a lot of traders do is use the

100-peering 100-period moving average as a guide if the price is below the 100 or 200 period moving average as a longer term trend that would uh be considered a kind of bearish market many people don’t go long when this happens or you know they just monitor the situation

Also when the actual price itself but dictated by candlesticks moves across these then they may start trading again so what you can see here is a big sell-off you know you would you would have been good not to buy when this was happening when the chart was moving

Through these but as you can see we’ve met some support right here the price is starting to move through the short term moving average again this is a potentially bullish sign because um the moving average is the the candlestick is moving above the moving average telling us that maybe the

Short term trend downtrend is starting to reverse and moving up so you can uh glean a lot of information from three moving averages where the short term trend and trade is versus longer term trends the next thing i like to do with ta is find what i call areas of value you can

Call these trend lines if you like i prefer areas because it gives me a real life box and an area where the trade might go trend lines are great but they’re very specific and the real world isn’t like that what i’m going to do is

Come and draw these on so i’m going to draw a rectangle right here and what i mean by areas of value is a price level where the trade has consolidated at these areas where the trade consolidates are considered very strong signals for the price so the first one i’m going to

Draw is right here that is certainly an area of value for me um so i’m going to click that right here and what you can do is change um the style of these if you want so you can come up to settings um just change maybe to green like this

Um make a bit thicker so that’s fine by me so is there any other area of value for sure there is i’m going to copy that box and then i’m going to put an error value probably around here this is an area of value copy paste again and then come and have

That same error value here why have i put the area value here you can see a lot of trade around here there were there were one two three four five six probably ten days of trade around this level so that’s obviously a key level now you have support and resistance

This up here was uh resistance because the price was moving up and then when the price was coming back down this is support right here and it happens to be around the same price that tells me that this price is a significant price to trade around

Now that the price is moving through the shorter period moving average potentially to the upside not confirmed yet i would therefore consider a move if i was going to go bullish to this level once again and it just so happens that the other moving averages seem to be converging converging around

This area of value as well so if i was confident the price was going to continue in this uptrend i would be entering a trade around this level with a take profit of around up here these are areas of value and another area of value for certain

Would be this level here because there’s a ton of consolidation around and that just so happens if you look previously to be an area of resistance twice up here and that has turned into support here these are areas of value i can see these very easily after more than a

Decade of trading but they really will help you out to find price levels when you’re trading to enter some take profit levels and some stop losses when you enter your trades when you are trading either short term or longer term if you just want to accumulate using limit orders is

Absolutely vital if you’re using a convert feature a simple feature to you know dollar cost average into crypto that’s great but you can get much better trades and deals when you use limit orders i’m going to come to actually trading right here you can see i’m in the buy bit spot market

And the order price right here the order the mark the price in the market right now is 48 500. so maybe i want to yeah put a limit order in at 48 456 and then i can just put in an amount let’s say i want to buy you

Know this much bitcoin i have a limit price of 48 456. press buy just confirm that now what you’ll see is that down here i’ve entered a limit order i am not going to trade unless the price comes down and meets uh my bid so what that means is that i’m

Going to try and get some cheaper bitcoin because the price is always fluctuating i don’t just want to go in and pay up for my bitcoin now where would that limit order come in we’ll come to the chart as you can see here and find some levels i would say within

A day in fact even just today the price has come down to 48 100 and it’s now around 48.5 that’s a big difference when you’re trading over the long term so look at the candlestick for your day see where it’s moving and put some limit

Orders in and see if you get hit it is going to save you maybe half a percent one or two percent over the long term which you know if you’re accumulating big bags is actually going to be a big difference so that limit order is down

There working for me i can just cancel this at any time if i don’t want to trade the next indicator that i want to show you is called atr it’s little used amongst a lot of people but i think it’s one of the best ways to

See how much risk you’re getting in when you trade either on a daily basis or just to put some some stop losses in to really mitigate your risk if you’re short-term trading so i’m gonna come to indicators uh and i’m gonna type in atr it’s known as average true range i’m gonna click

That on you can see that’s on the chart now average true range is a great indicator it gives us a flat amount in dollars that the price can move so average true range tells me the one period so i’m on a day chart right here so it’s going to give me the

One day maximum move possible for the asset that i’m trading i’m trading bitcoin and it is telling me that today based on previous moves and we can see that there’s been a ton of consolidation here so the volatility of bitcoin is coming down and being compressed and you

Can see the atr is also coming down and being and being compressed when you have this big sell-off here high volatility big move the atr spikes the atr is telling me what is the largest probable one day move because i’m on the day chart for bitcoin and it’s telling me that the largest

Probable one day move because of the recent price action is around 2567 so when you’re entering a trade let’s say you want a short-term trade you want to go in and you want to set your stop loss um you can set this price this stop loss anywhere you want but the biggest amount

You may probably lose is around two and a half thousand dollars so if you’re in you know around forty eight thousand set your stop loss just underneath with the atr the atar is going to help you if the atr is telling you that um it may

Move five or six thousand in a day factor that into your trading as well it’s a really great indicator to show you um actually how much risk you’re taking because of the probable move of the asset that you’re trading so next i want to talk about getting

Your news sources in place and your feed set up because if you are day trading you require a news feed it is absolutely vital so we’re going to get into that before that i do want to plug my crypto course right here if you’re getting value out of this video then this type

Of value is really given to you a hundred times over in my crypto course um so when you get into the crypto course it is a one-time purchase and then you get lifetime access to all future content for free so um content is added over time for existing members we

Have private discord groups with many different uh groups for technical analysis for investing for doing research so if you you know you want to get value out of crypto you want to know how to trade how to research how to look at tokenomics how to um day trade and

Everything like that is all in here there’s over 100 videos already more are added over time for free for existing users you can go to moneycg.academy or i will link that in the description as well so you can have a look um there’s a ton of value in there

So really i want to talk about getting your news in place and your feed in place twitter is without a doubt the best for this so you can follow who you want um you know you might want to follow me or you might want to vote other people but i would suggest looking

At the people that i follow so you know go to my twitter and see who i’m following um because i’m following some people that i get value from as well there is no way that you are going to know everything about the market it’s impossible but following the right

People is going to give you not just information but also analysis as well that you can use compare contrast and make your own decisions one of the easy ones is looking at the bitcoin fear and greed index um it’s a little bit silly yes i mean like

This is you know um qualitative really but it gives you a an idea and you can actually feel fear and greed on twitter on crypto twitter you can feel it it’s palpable i like to trade and buy when everyone is like selling and capitulating that’s where i go to work

So you can have a look at this this is a very rough guide follow if someone like will on twitter this is a group of people that post um tons of info about on-chain analysis really good analysis of that on-chain data so you don’t have to go and look at the data

Yourself you can just follow someone like this and get a lot of great analysis of that data all in one go so for sure following people on twitter getting your news in the right place so i’ve recently been trading polygon um so what you have to do you know just go and follow

Go follow polygon polygon daily as you can see polygon the official site there’s a lot of different people that are going to be posting tons of very specific information that you can trade from and the market in general you just cannot get this information from a price

You know why is the price going up you actually need to know why you need to follow these people because then you will get kind of early information about things that are happening is the project going to be launching somewhere is a ton of uh um total value

Locked going to be coming onto the system is you know the coin going to be listed on an exchange all of these things are catalysts for the price and you just won’t know them unless you’re following um specifically a lot of the best um accounts for that specific

Project so this is absolutely vital whatever you want to trade get your twitter in place it is the best place to get this if you want to trade all coins then go to these specific projects twitters and there are also a lot of other kind of independent people that post about

Different projects if you want to trade bitcoin then really this is more about macro news um and you know kind of interest rates and everything like that but whatever you’re trading you absolutely have to get your twitter and your news flow in place the next thing you’ll need to do is

Really understand where the trade is looking at the price isn’t enough we’ve looked at the price we’ve looked at areas of value but what we want to do now is get some fundamental data about what people are trading where and why one of the best ways to do this is to

Look at futures funding futures funding is going to tell you everything about where the market is right now you can feel it and this is very important when you trade because what you really want to do especially when day trading which is what this video is about is um

Make sure you time your entries properly now what i can see here and this is called coin glass so you can come to this website it’s totally free and i’m looking at perpetual futures funding rates for bitcoin there’s also a ton of other altcoins here that you can use perpetual

Funding rates tell me where the market is i can really feel it right so what you can see here is that there are longs and there are shorts this is telling me now that there are more people with open interest to the short side you can see 51 than to the long side

So the market is kind of short and they’re betting short now for me what that’s what that tells me is well do i want to go long or do i want to go short here what you can do is come back to the chart and really see what’s happening with the

Price so i can see that actually the price is consolidating around here and i can also see that we’re just kind of moving up were people covering their shorts were they short and then they’re going long to kind of cover and exit out of their trades if the market

And you can use this along with um analysis from people like will um who do you know on chain analysis when the market starts to turn that’s when you want to kind of uh time your trade so when this market starts kind of not going short going

Long again that’s when you want to time your trade to get in because you’re going to be riding people’s short covering when the market flips it flips pretty quickly especially with cryptocurrencies so when the price is coming down okay leave off maybe you want to go short itself

But when the price starts consolidating and moving back up again that’s when you get when you can say okay i’m going to try and time my entry right here this tells me where the market is and usually what you want to do is um you know wait

For the market to start turning and then riding that move back up so futures funding is really good the other thing that you can look at is kucoin right here kucoin funding rates they are a great indicator to where the market is right now so essentially on kucoin you know they

Have a funding market for their futures exchange when the um when the funding rate is around about five percent for us dollars or usdt that means that there aren’t many traders going long right usually that means there’s been a sell-off and a pullback which is exactly what happened

That is when i come alive and i start buying um dca dollar cost averaging into bitcoin um that is when the market is soft and selling off and everyone’s selling that’s great for me i’m long-term i’m going to hold for 20 years so i’m happy to kind of buy during those

Periods but what you can see the market is starting to turn on kucoin right now the rate came down to about four and a half percent and now you can see it’s just ticking up again and that means people are starting not to go short they’re starting to

Go long again so use this when this starts ticking up and this starts ticking up that is a sign that the market may be starting to turn around and go long again you can come back to the chart look at your areas of value can see it

Starting to happen as well right so this is a potential long entry trade if we get another couple of good prints to start moving up and then you’ve got your take profits higher the next thing i want to touch on is the difference between spot trading and

Futures trading if you want to day trade futures are much more suited for day trading spot market really is for you know buy and hold maybe swing trading if you want to do that over a slightly longer period of day trading or you know if you want a position that’s open for a

Week or so futures really are more suited to this but a massive risk warning you know if you’re an uh a beginner maybe just stick to the the spot market um it is safer because there’s no leverage being used you’re not going to get kind of stopped out and you know if you

Get in the wrong side of a trade at least you can just hold the trade and kind of wait um with futures that’s not how it works so what i really want to do is go over to the futures market and this is definitely for more advanced

Traders that have been in for a while but i just want to really show you the difference right here so with futures you do not buy and own any of the asset that you’re trading you are just simply betting on the price difference between when you enter the trade and when you

Exit the trade so if you do want to use feature futures and many people do there’s an advantage of lower trading fees and also you have the ability to go long and short you can’t do that in the spot market you can sell bitcoin or ethereum

That you have but you can’t take a short position you can do that with futures so what you’re doing essentially is betting on prices up and down so that is the benefit of futures also with futures you can leverage up and i’ve got specific trading guides for

Buybit and other platforms so i’ll leave them linked in the description on how to trade futures you can do that but with futures you can leverage up so you can put a thousand dollars an account go 2x leverage and open a position that is worth two thousand dollars the reason

Why people do this is because you can take advantage of much smaller price movements so as long as you have your risk management in place you know you can take advantage of a two to five percent move you know and that obviously with two times leverage works out a lot

More um so that is really the benefit of futures they there are they are beneficial but there are also risks so what i’m going to do here is really quickly show you um let’s say you want to go long here so you are a buyer you

Put in a limit order um at this price and you put in whatever you need to uh you know go with take profits and stop losses when trading futures you have to have a stop-loss loss in place because if something goes south you’re in big trouble you could lose you know

All of especially if you’re using five times or ten times leverage you know a 10 10 move is going to wreck your account so always when trading futures put in a stop loss at a certain level and we’ve seen that with areas of value earlier on in this video a stop loss

Would be for example five or ten percent away from your entry price and you can see that here that will when you enter the order that will enter a secondary order which is a sell order below your entry to stop any further losses if the trade moves against you futures have their

Advantages they’re also much more risky because you can leverage up you don’t have to leverage you can use one-time leverage but with futures there’s certain things to consider and a stop loss would always be recommended the next tip and this is the most important

One for sure is to have a plan and stick to that plan and don’t try and project something onto a chart and an asset that you just want to happen this is the most difficult thing being patient um understanding where the chart is what the asset is telling you

And then choosing whether or not to trade rather than saying i want to make a hundred dollars a day and so i’m gonna go in make a bad decision because you personally want to earn a hundred dollars a day rather than being objective and saying

Is this actually a good trade or not i’m going to give you an example of this right now as i’m making this video tara luna has been on an absolute tear it’s come into the top ten it’s up 42 percent um and a lot of people are kind of

Fomoing right they’re thinking ah this thing keeps going up and i can’t get in um it’s a great asset so what should we do here so if i want to go long and i want to make money from terror firstly that’s the wrong thing because whatever you want is not where you

Should start your trading journey so i’m going to come over to the buy bit chart right here and remember everything i’ve said in this video finding areas of value and everything like that so you can see on the chart we have a 20 and a

50. buy a bit i’ve only just added this so the 100 isn’t there what can you see from this chart where is the area of value do i want to go long here in anticipation of it going up to 100 what i can see is an incredibly bearish candlestick here so the price

Got up to 98 and then obviously some big sellers came in and just sold it off where is the area of value on this chart should i get in here to be honest no let’s look at the area of value so i’m just going to draw um a rectangle right

Here i can see the previous area of value is right up here around 70. let’s draw this on this is where i would be looking to get in you can see that the blue moving average is obviously converging and kind of coming up to this level as

Well this may be support is luna gonna get here is it going to consolidate up here i don’t know but right now would be a kind of a bad time to get in because we’re neither at support or breaking through resistance and so for me even

Though i like luna and want to add some more i’m gonna have to hold off for this trade i don’t want to be right in the middle where it could go either down to this level you know or potentially up i just don’t know you can’t predict the

Future you have to trade from levels so i can’t project my own wants and needs to earn money um against the chart that is telling me that it’s just not the right time to buy so you have to look at the chart on what what it’s telling you

I actually much prefer the bitcoin chart here if you’re looking at levels of support and resistance you can see we have a period of consolidation the price is attempting to move up through uh previous resistance moving averages and we have another area that potentially the price could move to that would be

A trade that actually has a better risk reward ratio for me than trading in luna which has been mooned and then is potentially coming back to support way lower so do not project what you want to happen onto a chart you have to objectively look at the chart and decide whether

The trade is actually a good risk reward or not so that is the very basics of setting up trading looking at news and flow and charts to try and make some better decisions on what you want to trade for sure if you want to know way

More in depth of this and you want to know specifically how to enter orders how to do technical analysis i have a whole section in my course on trading you can see it here there’s tons of videos more added over time do check that out if you are looking um just for

An all-in-one crypto trading and investing solution that will be added to for free over time a one-time payment discord groups and everything like that also if you want to trade on buy a bit um there are deposit bonuses on there as well um and you can

Look in the description for you know the platforms i use some extra helpful videos and everything like that i’m james with money’s ug cheers for watching and i’ll see you in the next one

This article proposes a simple method to make $100 a day trading cryptocurrency by identifying support and resistance levels and buying and selling accordingly. The author suggests using technical analysis tools and keeping an eye on market trends to improve success rates. It is important to set stop-loss orders to minimize losses and avoid emotional trading decisions. Overall, the article emphasizes the importance of discipline and patience in cryptocurrency trading.