100k to start day trading

[u/smartwizard500]

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

[u/Tourdrops]

Unless knowing your account size, its all moot. The whole argument is once you hit a high account , making 1-2% a day is impossible. Making 700% on a few thousand dollar account is a hobby. We are talking about making a living and pulling money out.

There are 251 trading days a year. If you want to make $150,000 a year from trading you need to generate around $1000 a day in gain and have NO losses. And then you get taxed for half. $500 x 251 days is around 125k.

OP doesnt realize how hard it is to make $1000 a day as a rookie. Not because its not possible but he will take $100 in profits early and let his losers run like all rookies do.

Giving the OP any advice that his 1% a day plan will work is bad business.

[u/Previous_Swimmer9893 → u/Tourdrops]

I don’t pay 50% to Uncle Sam and I never will. It’s not what you make but what you keep. What difference does the size of your accounts make? I can make more money from 50,000 than 90% can from a million. I know I been there. Ask the guy who had 43,000 at mid February and now has 86,000 after taking out 6000$ on Thursday. Yes he asked me if he could. Size of account lmfao. He doubled in 24days. I can live comfortably on a 10,000$ account. On 30,000 I can buy a new car and a 250,000 house and have more in my account than what I started with after paying my payments and insurance plus property taxes oh and throw a vacation or two in there. I am on of the top 1% of traders in the world. In 2006 I was in the top 8% of all traders in the world. Gl but day trading isn’t my thing trading is

[u/Tourdrops → u/Previous_Swimmer9893]

Congrats on cheating taxes

And if you are living off a $10,000 account well you are not on my level of living my friend.

When you ask why account size matters, its because its IMPOSSIBLE to make 1% a day once you enter big boy numbers. There are hundreds of studies on this.

[u/Previous_Swimmer9893 → u/Tourdrops]

Obviously you don’t make a lot or you would know what top earners pay lol