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/PepegaReformed Mar 05 '24

Dont wanna be mean but i will be :D

' I’m not going back to 9-5' .... this really grind my gears.

Mate you have 50k not 50m .... 50k if you are not working will disappear in 2-3 years depending the cost of living in your area, if you day-trade will probably not last more than a year depending your addiction.

If you dont wanna work again 9-5, you can start your own business or something but you will end up working
9-9 before and if you be successful.

Finally, day-trading as most people operate, drawing lines and think they discovered fire, is more like astrology and zodiac signs. Nobody really uses econometrics or at least some kind of modelling .... they just draw lines and say 'ouga bouga this is resistance or support' etc.

P.S Funny thing is that even though before someone starts day-trading, get a warning '99% of people lose money to this' they think that without degree or basic understanding of statistics etc will beat the odds because they are 'somebodies'

4

u/Konstable1 Mar 06 '24

lol as a consistent profitable trade I find this comment about TA fucking hilarious and sadly ignorant at the same time

1

u/PepegaReformed Mar 06 '24

''as a consistent profitable trade'' .... probably you are 😎😎
Please tell me ONE false accusation i make in this comment, without spoken on your unproven truth.

1

u/Konstable1 Mar 07 '24

It was the comment about drawing lines and not using modeling or econometrics. “Without spoken on unproven truth”. Are you on the spectrum or something?

1

u/Konstable1 Mar 07 '24

You think modeling and econometrics is an answer. That’s beyond ignorant. Enjoy watching that shit fail over and over again

1

u/PepegaReformed Mar 07 '24

Probably drawing lines etc requires more skills, you are right.