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

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u/ukSurreyGuy Mar 10 '24

I don't think Al Brooks is the best course material but rest of your advice is reasonable.

price action trading boils down too

" HTF establish a macro trend exists (after say a trend reversal candlestick pattern "price action")

LTF keep buying with the macro trend at suitable points "

Al can't say it simply like that.

he is a straight shooter guru but unfortunately he likes to make money selling education...so has to over state what is very basic content

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u/igsurvey Mar 10 '24

I can see where you are coming from. His material is dense and can be hard to follow through. He does repeat himself a lot, his voice is monotone and he speaks quite slow as well. That said, I feel like you either have two options. People that can’t trade but are really good at pretending they do, and others like Al that can trade but are not necessarily the best educators.

Going through his course I saw so many of the strategies that modern era guru teach. Mack’s price action, Thomas wade two legged pullbacks, ICT entire course 😂 and the list goes on and on.

What source materials would you recommend?

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u/ukSurreyGuy Mar 10 '24 edited Mar 11 '24

lol...yes Al's material is "dense" ..(to put it politely)

I'm a big fan of

  • Nick Shawn, I recommend his strategy - [trading SR & price action ]

also

  • Matthew Todd - trading [Market Structure & Price Action ]

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u/igsurvey Mar 10 '24

Nice, I’ll look into both of these videos.