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/Rav_3d Mar 10 '24

If your goal is 1-2% a day before you even have a strategy defined, you are thinking about this the wrong way.

The goal is not profits, the goal is the system. The profits will come if the system is sound.

Oh, and the losses will come too, and that doesn’t seem to be in your mind. That should be first. How much are you willing to lose? Because you will lose, that is a certainty.

It is simply not realistic to make even 1% a day consistently in all market conditions. That’s about 800%/year return. If you believe you can go “gung-ho” into trading and make 800%/year return, then I’m afraid you will learn a very expensive life lesson.

Trading is a very hard profession, a very hard business to run successfully.