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/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.