If you are looking to earn money from ethereum, then you are landed on a right article. In this article, I am going to share my experience of ethereum trading for profit.
Earn Money from Ethereum
Today, i am not going into much technical details, as for beginners it is sufficient to know how we can make money through trading. First of all, let’s discuss about ethereum and when it was introduced in the market for trading. According to blockgeeks, “ Ethereum is an open software based platform that is built on blockchain technology. It is the latest technology that caters the developers to build and deploy decentralized applications.”
This is just an introduction of ethereum, and if we go deeper, than we will come to know about its unlimited functions and its importance in the 21st century. One of the main features is that, it is a cryptocurrency or a digital currency. I hope that now you are little bit familiar with the topic. Let’s move forward. Now the question is how we can do etheruem trading for profit and how we can earn money from ethereum?
Ethereum trading for profit
I am going to list down a few legitimate sites where you can trade ethereum. But I always recommend you to open a demo account first, if you are a beginner.
How I am earning $1000 per month by trading ethereum
Let, me share my story with you. There is not a hard and fast rule to make money from ethereum. All you have to do is to make a strategy of your own and implement it correctly. The points that you have to include in your strategy are as follows
- Again little bit more Patience
- Yes don’t let it go, you know I am talking about patience
Hence whatever your strategy is for ethereum trading for profit, just keep in mind that it should be based on patience. If you are a risk lover, then it is a fact that you lack patience, but if you are risk averse, it means you can develop patience in your personality. Now you must be thinking that I am just talking about the strategies and am not giving you the secret that how to earn money from ethereum trading. Well, let’s start that how it all works to make money online with trading.
First of all, i am listing down the pairs in which you can trade ethereum
- ETHBTC (Ethereum <> Bitcoin)
- ETHHKD (Ethereum <> Hong Kong Dollar)
- ETHUSD (Ethereum <> United States Dollar)
- ETHEUR (Ethereum <> Euro)
Now let’s start with my own story with this pair- ETH/USD. The platform that i am using for forex trading and commodities trading Whaleclub, introduced ethereum trading for profit a few months back. I was curious about this new entry; hence i started my research on it.
I came to know that it is a similar trading option as bitcoin, and it has a potential to grow a lot in coming weeks.I planned to invest $200 initially, just to check the results and how much potential it has to earn money from ethereum. My trade was with $200 investment and the leverage which i used was x1. It means, i selected the minimum trade leverage.
When placed a buy order at $40, it means when the value of ethereum was at 40. I was observing it closely and concluded that the pair was in a resistance level of 50. It means it goes up to 50 and then comes down again at the level of $40. In the first go it made me $20 and I sold it out on 50 level. Then at the 50 level, I placed a sell order with the investment of $220. Again at the level of 41 I purchased it back and earned almost $20.
This is how I made $100 in 2 days. Now I had $300 with me for ethereum trading for profit, so i invested again. Now, let me tell you what I decided to do after investing $300. I Left the account and didn’t log in again. As I knew that if I will login again, then i will definitely do make changes in my opened positions.
It is always safe to leave the account unattended when you have opened a position with minimum leverage. You are always in safe hands with minimum leverage. So after a week, when i opened my account, I was amazed to see that my profits were doubled. Like I made a profit of $700 in week duration and that is too with no risk.
The pair was trading at $90 almost. So i really enjoyed my experiment with ethereum pair. Now what I did again, I reinvested the principal amount and the profit again with a leverage x1. The total amount that I invested was $1000. I opened a buy position, just to clear the things.
Now I was playing a big game with minimum risk. I was so excited to see the results as experts were talking that ethereum will soon touch the skies.
I was soooper doooper excited.
Again, all things moved in the direction that was predicted for etherum. The prices were climbing 15 to 20% on a daily basis. And my account was going green by showing profits. Ethereum trading for profit was a good experience for me. Just think that within a month ethereum climbed up to $400 almost. And now just think about how much i earn money from ethereum in a month.
Let me tell you roughly, I made around $4000 with my investment that month. I closed the trade and withdrew my amount. After that there was a decline in the prices of ethereum. Always remember that in forex trading and commodities trading there is a risk of losing money.
So you need a well planned strategy that can help you to make profits.
Now let’s talk about the strategy that I am going to share with you. By following this strategy, I suggest you to open an account and start ethereum trading for profit. First of all, you need to have an account with reliable companies. I recommend these companies to open an account with.
Then open a demo account first, if you are a beginner. After that what you need to do is, fund your account with minimum of $1000 if you want to earn money from ethereum trading i.e. $1000 or more within a month.Remember, that you can make $1000 or may be more in a month depending on fluctuation in the trading pair.Open you buy position, if you think that ethereum is at its minimum point, check 3 days minimum or a week minimum chart.
Then open a buy position with x1 leverage. These days the price of ethereum is fluctuating within a range of$190 to $250, so I would suggest you to buy it at a level of $200. It means open a buy order with your investment and the leverage should not be more than x1.
Now leave the account as it is, and you are allowed to open it once daily. The reason is that, when we check our account every hour, we are compelled to make changes in the position. If we are in loss, then we get panic that the position should be closed as we are in a loss. Please don’t do this, as I can assure you that it will recover. I mean your losses get recovered sooner or later with ethereum trading for profit.
It will give you profit and you will be happy to see the results with this pair. Now, what you need to do is. When you see that it made you $100 at whichever point. Just close the trade and wait for it to drop again.
When it comes at its lowest price again, then you can again open a buy position and repeat similar process again. So, you will see that you earn money from ethereum and met your targets within 2 weeks or so. I hope that you liked the article and i want to see your comments. Please share your experience from ethereum trading for profit.
If you are interested to make money online, i have suggested a few other ways as well. You can check these links to read more about other ways to earn money online.