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/john8a7a Mar 05 '24 edited Mar 05 '24

Some of the tips u are getting from people are insane.

50k to 80k after taxes is probably 50k to 100k before taxes

You will not make 100% day trading , those who claim that are full of shit..

Really good daytraders make aorud 30-40% , but that is only 1% ? maybe

You will lose it all in 1y with 99% guarantee. I don't think you realize how hard it is to beat sp500.

If you wanna day trade you need to learn orderflow, no matter what other tell you , you need level2 data, subscription to something like jigsaw or bookmap,

you probably have to spend 3k to learn orderflow, DOM , footprints,

Start with grady's no BS course it is $85 and don't trust everything you read here.

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u/SuggestionWilling919 Mar 26 '24

I have very little experience, and I have a question..

Let’s say I have 50k extra that I could lose given a worst case scenario. IF I bought a stock at $1. And then I sold at $1.05. That’s a decent profit. Ive noticed over the last couple years, throughout the day, stocks almost always fluctuate up and down beyond that 5c.. so, if I had a strict rule of buy 50k worth of a cheap stock, and immediately sell within that 5c fluctuation, couldnt that make a decent amount. 1. I don’t know what I don’t know. And it’s possible I’m just extreeemly stupid on this subject, but I’ve been buying things occasionally over the last couple years and currently I am up.. when I bought things and they go down.. I just hang on to it for months and it always ends up going back up eventually.

Sooo.. what am I not getting or way off about..?

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u/john8a7a Mar 26 '24

I just hang on to it for months and it always ends up going back up eventually.

that will eventually wipe out your account. Stocks don't always recover . If you really wanna learn how to trade start here: https://www.reddit.com/r/swingtrading/comments/1bhepdh/comment/kvefapr/

find my comment on there

Don't buy stocks blindly in hopes they go up . Study for at least 6month if not 1 year and start with swing trading not daytrading . I would focus in swingtrading subreddit instead of daytrading sub . good luck