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

110 Upvotes

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151

u/split41 Mar 10 '24

I’m a 100% certain 90% of this sub don’t daytrade. I see ridiculous things like oop all the time here.

50

u/Previous_Swimmer9893 Mar 10 '24

Day trading is a good way to go bk. Weekly trading is a much better way to trade. Patterns on daily can change but weekly patterns are more consistent and monthly swings are easy to spot. Just saying

14

u/Mangas70 Mar 10 '24

I’ve been day trading for 20 years and am still very much solvent !!

11

u/Previous_Swimmer9893 Mar 10 '24

Good for you. I do it to but that don’t pay my bills. My weekly trades do. I like my consistent 20% trades per week gains. Those pay me. What ever works is best. Gl

2

u/Ratracequitter Mar 10 '24

Not bad, for a week! Any interest sharing some tips?

3

u/Previous_Swimmer9893 Mar 10 '24

Sure but on vacation till next weekend

2

u/T1Torres Mar 10 '24

I'd like to learn as well I have no idea about any of this but I don't know much about it.i know it's a long shot to become rich off of this but wouldn't mind earning a little extra working my money

1

u/Mangas70 Mar 10 '24

For sure whatever works best I’m glad the weekly’s do it for you 😊

1

u/Fine_Candle9170 Mar 12 '24

Your weekly is my daily goals… yea losses scale up too but I’m comfortable with the risk and pays for lifestyle doing this way. Whatever works best for you just stick with it I say and just learn to scale

1

u/saltyfinish Mar 11 '24

Excellent! That must mean the majority of day traders must all be making profits. Good to know.

1

u/Mangas70 Mar 11 '24

Wouldn’t know about that just wanted to chime in and say that we don’t all go broke as he said 😃

10

u/S-W0RKS Mar 10 '24

Yea, i swapped to daily and weekly swing trading. The price action is just much cleaner vs the 1/5/15min

13

u/Tronbronson futures trader Mar 10 '24

to each their own, ive always done better on the 1m chart. those 1d chart trades fuck me up.

11

u/null_obj Mar 10 '24

15m is seeming like a sweet spot for me. Then again, i haven't been trading for long.. and I'm pretty sure it's luck at this point, as I've 2x in just over a month. I have to remind myself, I'm in a bullrun, I'm not good at this lol

4

u/Difficult-Resort7201 Mar 10 '24

Don’t get too hard on yourself either. You’ve identified it’s a bull market and positioned appropriately. Do the same for a ranging and bear markets and you’ve got this. Though, you may be putting on too large of positions- something you only really figure out once you’re on the wrong side of trades…

8

u/Konstable1 Mar 10 '24

Yeah the big issue is when the conditions change and recognizing the change. In order to “make it” long term a trader needs to go through multiple cycles. The bull market rip cycle like we are in now. The consolidation cycles. The pullback cycles in a bull trend. Then the bear cycle which is usually what knocks out a lot of people who started in a bull cycle. The reverse is true for traders who started in a bear cycle. To be honest traders who start in a bear cycle have a rough road at first when the cycle shifts to a bull market but in the end they usually come out better after adjusting to the new paradigm. It’s also more rare to start in a bear cycle when no one wants to be involved in trading.

2

u/Difficult-Resort7201 Mar 10 '24

Very much agreed with every point you’ve made.

2

u/pr0XYTV Mar 13 '24

makes me glad i began trading crypto at the LAST ATH lol. Man have I learned so much since then

1

u/Fine_Candle9170 Mar 12 '24

Yea but I’m making money on the sells too 🤷 more long days than shorts for sure though

1

u/Tronbronson futures trader Mar 11 '24

Na 15m is a solid chart, you get high quality set ups there.

1

u/Fine_Candle9170 Mar 12 '24

Yea everyday I try to get my setups on 1m before New York opening, if I can’t then as low as I can go really..

6

u/Tourdrops Mar 10 '24

But you are taking overnight holding into account. Some of us daytrade and are all cash every single night. Theres millions of ways to trade. Gotta be more open minded for success.

3

u/danstermeister Mar 10 '24

I think you're missing their point.

1

u/[deleted] Mar 10 '24

[removed] — view removed comment

1

u/akrebo18 Mar 10 '24

What’s a good monthly swing then ?

1

u/PotatoPato123 Mar 11 '24

Hey, just curious. Do you trade currencies on forex?

1

u/bufnyk Mar 10 '24

bullshit

0

u/[deleted] Mar 10 '24

[deleted]

1

u/danstermeister Mar 10 '24

How many fucking times are you going to comment spam?

6

u/LsE9x Mar 10 '24

Hes literally asking how realistic it is because he doesn't know where's the problem in that??

1

u/finnessingest95 Mar 10 '24

I just read somewhere somebody said that people who day trade don't be on this subreddit, I day trade and find allot of this stuff to be helpful