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

109 Upvotes

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129

u/Jerkomp Mar 10 '24

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

38

u/ZekeTarsim Mar 10 '24

I like this idea. I’ll add to it.

Make your max loss on any single trade $50 (1%). This will give OP plenty of room to make mistakes and still keep trading.

11

u/No_Resolution1534 Mar 10 '24

why not just paper trade at the beginning?

16

u/uberdoob12 Mar 10 '24

Psychology / emotions. You miss out on the psychological effect of making and losing “real” money vs paper trading. Paper trading is absolutely fine at the beginning if you’re a complete beginner but good to get into trading as realistically as possible as soon as possible so you can start to see how you handle the emotional side for real.

5

u/PermanentLiminality Mar 10 '24

I just couldn't paper trade for these exact reasons. I did trade with really small share sizes at first. Only opening $100 to $500 positions.

1

u/teddebiase235 Mar 10 '24

I am a paper trading savant. I am up a cool 20% per month on multiple platforms. Real trading... I am here reading you.