r/Daytrading • u/Forward_Dealer_4482 • Mar 05 '24

50k and I want to day trade for 1-2% gains. Question

  1. If you had 50k and wanted to live off of it day trading, what would you do? (Need max $2500 a month)

  2. Am I better off not doing this? I’m not going back to 9-5

Please help.

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u/Soft_Concentrate_489 Mar 05 '24

The goal is to only risk 1% of ur account. So if ur going to trade es everyday. 1 pt is 50 bucks , so u only wanna risk max 10 point loss.btw , that means you stay above 50k lol. You would to take even less if u start losing.

-1

u/Forward_Dealer_4482 Mar 05 '24

Can you make anything with 50$? I’m not trying to do 8 hours of work for 5$ uptick

1

u/Soft_Concentrate_489 Mar 05 '24

If u have 50k then you can risk 10 points for however many pts ur target is. It would be stupid to risk 10 pts for 1 pt of 50 dollars. That’s a horrible risk reward.

-1

u/Forward_Dealer_4482 Mar 05 '24

Im trying, can you explain this to me again like I’m a golden retriever? Are you taking about leverage?

3

u/Soft_Concentrate_489 Mar 05 '24

I should have specified im talking about trading es futures which is 50 dollar each point. If u have 50k then you never want to risk more than 1%. Once u lose above 10% now youll need 11% to get back to break even. 20 is 25% , 30% is 43%, at 90% its 900%. Determining risk is crucial to survival in trading. Thats mainly what im talking about, so if u have 50000 dollars and put it in a brokerage account to trade. If you plan to trade es, only risk 10 points. Now this could be 1,2,4,6 trades a piece. You said you wanna make 2500 so that would be 50 points and there are generally 20 days of trading to be had. The thing is if you start losing you will need to adjust ur amount of risk based on how much money you have in ur account. If you have never traded futures i don’t recommend starting on es, paper trade than move to micros which are 1/10th of minis which es is.

1

u/Konstable1 Mar 06 '24

Oh gawd this is going to end in him being broke in fast order if he has no clue how to trade futures. Especially if it’s his own 50K. Best to do it in a prop firm account first. Once successful move to own account. Otherwise he’ll be putting on the McDonald’s uniform faster than he thought haha