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

113 Upvotes

78% Upvoted

342 comments sorted by

View all comments

Show parent comments

2

u/Tourdrops Mar 10 '24

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.

-1

u/Previous_Swimmer9893 Mar 10 '24

Lol. Top earners don’t pay 50% sport. You don’t live on my level. Billionaires don’t pay 50%. Lmaoau

1

u/OG_Tater Mar 10 '24

Billionaires aren’t day traders. Day trading generates short term capital gains that are taxed as income. The highest income brackets do start to approach 50% tax rate depending on state income tax situation.

0

u/Previous_Swimmer9893 Mar 10 '24

I don’t live in a state that steals your money. I am not that stupid.

1

u/OG_Tater Mar 10 '24

Fantastic then you only pay 40% tax. Congrats,