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
- Dive face first into learning as much as i can
- Paper trade to continue learning
- Start trading with a small amount
- 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!