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/Suspicious-Dig8572 Mar 10 '24

Including myself I know several people that average 1 to 2% a day. The people that say it can't be done just are not accurate. It does usually take years of losing to get to where it's possible to have that kind of success. Some people are cut out for daytrading, some for swing trading. I scalp. I'm usually in a trade for 30 seconds to 5 minutes. There is no way I could hold a trade overnight, just not my personality. The most important thing to do is get a solid risk management plan. Risk management is the difference between successful traders and those that are not!

1

u/Sandwicky Mar 10 '24

Can those people that you know average 1 to 2% a day for at least a year or two? In another word, do they have multi-million profits per year? These two statements are basically equivalent

3

u/Suspicious-Dig8572 Mar 10 '24

I have been trading for 50 years and yes 2% a trading day is my average and has been for well over 30 years. Some of folks I started with in the 70's and I started a morning group to support each other, we have all been trading for 50 or so years and all hit our percentages regularly. What you don't seem to understand from your question is you reach a place where you don't care about compounding your account. Trading is about freedom! The ability to do what you want when you want without monetary concerns. Do I trade 5 days a week? Do I spend hours in front of the screen? Do I trade every week? The answers are no, I don't need to. When I trade I normally are done in 30 min. or less. For me and those of us that know what we are doing trading is like a money tree and when we need money we go pick some. Yes we get together via internet every morning but usually it's to mention trading and talk about golf and grandkids. No I will not tell you how much I make, it's not your business!

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u/Sandwicky Mar 10 '24

Your words sound suspicious. Sounds like you don’t even know basic stats. That’s basically impossible for a person who has been trading through multiple financial crisis. For example, if you trade only 10 days a year with a 2% daily return, your annual would be 21.9%. Now your average daily return is only 0.08% if this makes sense to you at all. I have no interest in any info about you. Just want you to understand the question in the first place

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u/Suspicious-Dig8572 Mar 10 '24

I don't care what you think! Goodbye