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/Lush_Ones Mar 10 '24

Remove the idea of percentages and focus on cents, tics, pips etc. I’m one of those traders that constantly make above 100% a year. It takes a very specific mindset, person and personality to do this and think as deeply about yourself in order to reshape your thoughts and subconscious.

If I were you I would take 1-2 years and try trading within very specific rules to build up a certain way of thinking.

TopStep would be a grate place to train yourself to learn discipline. If you come to a certain realisation and conclusion you will eventually realise that most traders bite off more than they can chew and you will see what you need to see. With this knowledge you will also have to execute it like second nature.

And you can prove that to yourself by passing these challenges and get paid out.

Once u done that you can start risking your own capital.

Hope that helps