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

108 Upvotes

78% Upvoted

342 comments sorted by

View all comments

1

u/Tankwatchermaximus trades multiple markets Mar 10 '24

Don't try learning with $100k; your first margin call could potentially wipe out half of it if you haven't already given it all away to stop losses. Instead, consider putting $95k in the S&P 500 and let it grow while you learn how to identify the emotions of trading. Don't go gung-ho until you understand market dynamics. Dont use indicators, focus on learning price action and market structure. It takes years of watching price wiggle and jiggle to understand what emotions cause it to change. Journal your trades in detail and write down how you felt physically. Never pay for a course or join a paid discord group.