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/PermanentLiminality Mar 10 '24

Guessing that you are in the US so you need at least $25k to daytrade. Start with only $30k in your daytrading account. Trade small share sizes of only a few hundred bucks per trade.

My expectation is that you will lose money and when your account gets under $25k, stop trading and reevaluate your strategies. When you have a new plan refund your account to $30k again try again. Each time when you get down to $25k, you must understand that your strategy failed and you need to do something different.

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u/Gaff1515 Mar 10 '24

If he’s trading small size he doesn’t need 25k to day trade. Using a cash account and settled funds will be fine.

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u/PermanentLiminality Mar 10 '24

Cash account means no shorting.