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It appears, that earning $100 per day seems to an ideal popular income amount for many of us who are seeking a consistent minimum self employment income.
I’m talking about this because, I personally have been on a mission to generate a consistent, $100 per day income from a proven income method, other than a “job”.
Why other than a job? Simply because, its just a personal preference of the freedom and independence of working for myself and creating my own economy and one that fits around my lifestyle.
So coming back to the topic of $100 per day, I think, its not much and its not less, but its enough to live on and provide you with time and a financial lifeline to work on increasing you’re income to more higher levels.
Now, if you’ve been following my journey, I’m personally passionate about the Financial Markets.
Therefore, my income methods that I research and engage in, revolve around the Financial Markets.
I’ve planted my flag and laser focussed to succeed in this industry, so today I’ll be sharing an “idea” on a particular income method through trading the markets.
I’m saying “idea” because I created this strategy idea literally in the morning, and I’m writing this post, in the evening.
So I haven’t yet implemented this strategy in the live markets with my demo accounts first, but I think it looks promising.
I will also add that as a prerequisite, to implement this strategy, you must have some basic knowledge and experience of trading the Financial Markets.
This particular strategy is based on trading the Forex markets.
Earning a consistent $100 per day, should generate $2,000 per month, considering a 20 day trading month in the forex market.
And if you add Crypto trading assets,, then you’re looking at a potential 30 day month, which is $3,000 per month!
If you have no knowledge of trading the forex markets and you’re interested in educating yourself in the Forex Markets, here’s a trusted educational platform > https://www.saeed-khan.com/fs
This strategy requires a trading account of at least £10,000.
If you don’t have that amount, not to worry, because you can leverage a Forex Prop firm, where you can literally “buy” a $10K trading account, on the condition that you pass 2 trading tests to prove that you can trade profitably.
Here’s a recommended company, I personally use,, if you want to learn how to get funded from a Forex Prop firm
> https://www.saeed-khan.com/mff
Strategy benefits
- You only need just 1 profitable trade a day, or 1 win out of 2 trades, that’s it!
- If you lose your first trade, you just need the 2nd trade to be a profitable one.
- So out of 2 trades, you need 1 profitable trade.
- You need to make just 30 pips profit on each trade.
- The $100 per day scenario is based on making just 1 or 2 trades, with 1 being a loser and 1 winner.
- – This means, if your first trade is a winner, then you stand to make even more per day!
- This strategy follows the industry recommended risk management guidelines of risking up to 2% per trade (low risk according to industry recommended guidelines and practices)
- It utilises a risk reward ratio of 1:2 per trade. (Good risk reward ratio according to industry guidelines and practices)
- The strategy also abides by the trading rules of the many top Forex Prop firms, such as staying within daily drawdown limits of 5% of account balance.
Step 1 – Find or create a strategy that has at least a 70-80% success rate.
There are so many strategies online, google, youtube, for free. Just google “high win rate, forex trading strategies”
Make sure your strategy can accommodate at least a 30 pip take profit and 15 pip stop loss.
Make sure you backtest, and forward test the strategy on a demo account first properly to make sure its profitable.
If you need some strategy ideas, here’s 3 proven strategies that you can get started with and even tweak them to accommodate my $100 per day strategy requirement.
Strategy 1: Hull Suite, Boom Pro, Volatility Oscillator | Time frame: 1 Minute
Description: This strategy Hull Suite, Boom Hunter Pro, and Volatility Oscillator
Backtest summary: Tested 100 trades | 74% win rate
Instructions on how to apply: https://youtu.be/wtB4fHM-IxM
Strategy 2: Ai Engulfing, Fluid Trades | Time frame: 3 Minute
Description: This strategy utilizes smart money concept
Backtest summary: Tested 100 trades | 81% win rate
Instructions on how to apply: https://youtu.be/ITN88_zBHcg
Strategy 3: EMA Strategy | Time Frame: 15 Minutes
Description: This strategy uses emas to generate short term, potential daily profits, achieving a average win rate of 80%.
Backtest summary: Tested 100+ trades | 80% win rate
Instructions on how to apply: https://www.youtube.com/watch?v=I-pzgXp8GGc
Step 2 – Place your trades.
Once you have your proven trading strategy, place your first trade with the following setting:
- Take profit of 30 pips, and stop loss of 15 pips.
- Use lot size of 1.00
- With this lot size, you’re risking about $120 to make $240 (for CHF pairs, slightly more)
So fi you win your first trade, you’ve made about $240 in a single day, this means you’ve made double your required amount.
If you lose your first trade, then as a “plan b”, place your 2nd trade with exactly the same settings as step 2
If you win your 2nd trade, then you’ll make $240 profit.
From the profit you’ll minus your 1st losing trade of $120, that leaves you with $120 profit for the day.
Now, you can rest and relax for the day, as you’ve made your “$100” per day, in fact just over $100, even after losing 1 trade.
The worst case scenario: If you lose your 2nd trade, you’ll lose another $120 (for CHF pairs, slightly more)
Which means you’ve lost around $240 for the day:-(
Not good, but the important thing is you still risked up to 2% per trade, following recommended risk management.
Plus, if you’re trading under a forex prop firm, you’ll still be in compliance with their rules, as on a $10K account, the typical daily drawdown is $500, so you’ll only lose half of this amount of $240 ish.
By applying proper risk management, you get to survive longer in the trading, thus providing you more time and chances to increase your success rate.
Here’s another variation option that can reduce your risk on each trade.
If you want to potentially reduce your risk a little bit, or by half, then you can apply the halving method.
Here’s how it works…
Instead of trading 1.00 lot sizes, you can trade 0.50 lot per trade, which will give you a risk of about $60 per trade, in order to make $120 per trade. (Still 30 pip tp and 15 pip sl)
And if you win your first trade, that’s it, you’re done for the day of making $100 per day, hurray:-)
Now, if you lose this 1st trade, you’ve lost $60.
In this scenario, trading the same lot size of 0.50 lot size and tp, sl, we need to win the next 2 trades
Which if we win next 2 trades, it will result in $240 profit.
Next, we minus – $60 (1st trade loss) = $180 profit. Now stop trading for the day:-)
Or failing the above scenario, you need to win 2 out of your next 3 trades.
Overall, we need to win 2 trades out of 4 trades to accomplish our goal of earning $100 per day.
The profit in this case will be
2 wins = $240, 2 losses = $120
Losses minus wins – $240 – $120
Total profit = $120
As you can see, this method is still using the same trading ratios as the first method, but this way, you’re just risking half of your money per trade and of course, making more trades to get your same desired results.
So this is my idea for generating a consistent $100 per day, with just 1-2 trades, or 1-4 trades.
For this strategy to work, your trading strategy should be solid with a high win rate and of course accommodate the risk reward of 30 pips win, and 15 pip stop loss..
Although in theory, you can apply this method with a trading strategy of 50% win rate, ie. 1 winner and 1 loser trade, I like to add some additional “winning” probabilities buffer and seek strategies with at least 70-80% success rate.
I must say, I’m excited about this idea and I intend to develop on this method and apply this strategy and see if I can achieve the goal of generating $100 per day.
To sum it up, it does sound easy and simple in theory, but only after testing and trialling in the markets, I’ll know if it can truly deliver the goods of $100 per day consistently, as the markets can be very mean sometimes and can take some or all your monies:-(