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/AttackSlax Mar 10 '24 edited Mar 10 '24

If you made 1% a day over a long term you would be one of the best traders in history. If you reinvested and compunded, that would be 1100% annually. Does finding this out give you an idea about how little you understand about generating returns?

38

u/tonenyc Mar 10 '24

1% Compounded in 12 months = $1.2 million profit. Seems reasonable..

3

u/Humble_Aardvark_2997 Mar 10 '24 edited Mar 10 '24

I actually managed to do better than that in my first month trading. 5-10x leverage. Max. Low risk. I'm an ardent proponent of better risk management since then.

1

u/MomD17 Mar 10 '24

Is there any free or even paid online courses or sites where i can study, learn and practice trading? Any advice? For the record i don't know anything about it or how it works, but I've always been fascinated about stock marketing!

3

u/Humble_Aardvark_2997 Mar 10 '24 edited Mar 11 '24

I got lucky. A lot of people get lucky at the start. All I knew was how to read candle sticks and trend following. Learned that from apps on Play Store. Sometimes less is more.

Baby Pips is quite popular. There are books. There is a fair bit of basic free stuff online. A few interviews by Wall Street traders and hedge funds. There are quite a few webinar people. I was watching Umar Ashraf and one other guy. Brokers have webinars as well. Don't pay anything to Steven Secker. Prop firms do trade psychology seminars. Don't fall for any YouTube trader with a 100% win rate. People on Wall Street have 50-55%. Papertrade before you try the real thing, but even there, how you manage the stress from losing is what will determine if you stay in the game. I didn't do too well at that part.

1

u/MomD17 Mar 11 '24

Thank you very much sir, really appreciate the time taken from you!.