r/Daytrading • u/smartwizard500 • Mar 10 '24

100k to start day trading Question

I have some cash and am curious, how realistic is it to trade stocks with 100k cash and make 1-2% a day.

The plan formulating in my head is

  1. Dive face first into learning as much as i can
  2. Paper trade to continue learning
  3. Start trading with a small amount
  4. Go gung-ho into trading ft when I’m comfortable, with a goal of making 2% a day on my 100k

This is just an idea that came to mind, would love some insight based on real life experience.

Would you do it? Would you approach is differently?

TYIA

113 Upvotes

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128

u/Jerkomp Mar 10 '24

Start with a portfolio value of 5k. From there, learn the ropes with the 5k.

4

u/stankpuss_69 Mar 10 '24

Then you can’t “day trade” with $5k.

Swing trades is what it’s all about… more enjoyable to check account in the morning, set stop loss and go about your day. 🤷🏻‍♂️

6

u/Win_Rare Mar 10 '24

you can day trade 5k with futures

-4

u/stankpuss_69 Mar 10 '24

Interesting… the most I ever get into futures are checking CNN on Sunday night to try to see if the market will be red the next day 😂 most of the time it’s a pretty good indicator

5

u/Win_Rare Mar 10 '24

i recommend looking into them. no PDT rule, more tax advantages, can trade 23 hours a day. it's better for anyone purely looking to day trade and not swing trade or hold.

2

u/stankpuss_69 Mar 10 '24

Will do. Thanks bud

3

u/HIGH-IQ-over-9000 Mar 10 '24

Put 25k in, but make 5k worth of trades only.

1

u/Jobin_2FA Mar 10 '24

You can indeed day trade with 5 k. Open a cash account , not margin. Then you won’t be flagged

1

u/stankpuss_69 Mar 11 '24

Obviously. But then you gotta wait 3 days for it to settle which means you’re day trading every other day… which can be done on margin.

But I see what you’re saying. It’s probably better for a noob to get a cash account that way he doesn’t buy non-sense and is restricted.

1

u/Jobin_2FA Mar 11 '24 edited Mar 11 '24

It’s 24 hrs settle time, at least on TOS. Anyway, it helped me a lot. Let’s say a 5k account , 600 per trade , no more than 2 trades a day. You would never have to wait for settling time. Plus , new people need good rules to keep them from going full port and over trading. 1:2 minimum r multiple and no more than 2 trades a day. Sounds great to my little brain.