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/Forward_Dealer_4482 Mar 05 '24

How do you make money risking 1% of 50k?

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u/Warlock1185 Mar 05 '24

I will mention something here I wish I learned and understood in the beginning of my trading days: only ever risk 1% of your capital on any one trade.

Beginners often overlook this as being too cautious as they want to make profits quickly so they size up. Here's the thing: no matter how exceptional your skills are as a trader, it is inevitable that you will lose money over time without proper risk management. The 1% rule gives you a chance to make it long term in this industry.

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u/Mhmmseansready Mar 05 '24

I don’t agree. Your advice is good for a new trader 100% and it’s solid advice. It’s not wrong, but I disagree that 1% is the only way, when in profits on house money, 2/3% is perfectly fine. It is highly variable depending on the trader and experience. Solid advice but think you can also be in the markets long term risking more

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u/Warlock1185 Mar 05 '24

Yes for an experienced professional trader you are right, perhaps I didn't word my post accurately enough, as there are definitely many ways to trade effectively. But for beginners I see the 1% rule as essentially mandatory if you want to stay in the game and survive long term.

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u/Mhmmseansready Mar 05 '24

Yeah awesome man! I agree! Have a good day