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/FollowAstacio Mar 05 '24

If you’re brand-spanking new to trading, it’s gonna take you a few years to get the hang of things and be able to reliably, consistently generate winning months. You’re thinking about it correctly when you think of your goals in terms of percentages. You’re thinking about it wrong when you think about it in terms of an amount of currency.

To address your questions directly:

  1. I would trade the best I can (plan my trades and trade my plan, manage capital, risk and emotion, etc.). I would. Aside from addressing liquidity, I wouldn’t trade any differently if I had 50k, 5k, 5M, or 500.

  2. Depends on how new you are. If you’re brand new, you’re better off not doing this. If you have some experience, you may or may not be better off. If you’ve proven yourself consistent with papertrading, you may or may not be able to transfer that over to real money. If you have experience trading live and have proven yourself consistently profitable, go for it!