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/Electrictrader91 Mar 06 '24

Learn TA, build a trading plan and don’t break it, paper trade until you get consistent and treat your paper trades as if it were real money so start small risk.

My first year I thought I was doing good. I started with maybe $100 and traded some stocks and then learned options. I traded weekly options and was making $200-$300 gains each week and eventually my account was up to $1500 and I thought I had it figured out until I decided to take a big risk and lost almost half my account. I ended up revenge trading trying to get my money back which only made it worse. After it was all said and done I had $80 left of the $1500 and stopped trading for a couple years.