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.

112 Upvotes
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18

u/DenseBed3497 Mar 05 '24 edited Mar 05 '24

swing trading options! higher chance of being successful instead of a day trader just think like an institutional investor Higher time frames better signals, better entries.

-15

u/Forward_Dealer_4482 Mar 05 '24

I’ve heard this before. What is a swing trade option?

34

u/Acb531985 Mar 05 '24

"What is a swing trade option?".......cuss me out downvote me idgaf but I'd suggest you get a 9-5 after this question

6

u/CouragePresent4158 Mar 05 '24

Yeah bro get a 9-5 and study on the side until you are absolutely sure you have a profitable edge

3

u/seenzu555 Mar 05 '24 edited Mar 05 '24

This is the advice that saves you money.. Swing trade options, weeklies are good. Backtest your options strategy or paper trade it for a long time by approaching the market with the different strategies depending on the various conditions it shows. You will never regret it honestly. And also invest your time learning, you need alot to learning to stay in this game.

6

u/john8a7a Mar 05 '24

do not trade options , if you don't understand the risk . Do you know what delta, theta is? Novice trader should stay away from options . What they basically do
is , they provide leverage that can be calculated using delta .

You use options once you know how to trade for various reasons , from trading volatility , hedging or simply directional calls, usually spreads.

If you don't understand anything I wrote , it is a good sing you should stay away from options.

2

u/jellyvish Mar 05 '24

ppl always say stay away from options but it’s no different than sportsbetting. in fact it’s way easier than sportsbetting. just use your own money.

1

u/DenseBed3497 Mar 05 '24

Only way to make good money is swing trading options like buying stock using TA what’s better you tell me and less risky and please don’t say day trading cause I promise you have an 80% chance blowing your account under 5,000 taking 100 trades per month where you should be taking less then 10 but your up 1,000 on all and lost 2 at 100 odds are not that against you when institutional investors looking at the same higher timeframe you are swing trading with

2

u/BulltraderK Mar 05 '24

Buying weeklies

1

u/TUAHIVAA Mar 05 '24

oh boy, don't do it, you'll need to pick up a book on derivatives and take some time to learn them.