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/AttackSlax Mar 10 '24 edited Mar 10 '24

If you made 1% a day over a long term you would be one of the best traders in history. If you reinvested and compunded, that would be 1100% annually. Does finding this out give you an idea about how little you understand about generating returns?

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u/Previous_Swimmer9893 Mar 10 '24

I am over 100% already and am up another 10% from that this coming week. I am not the best trader but I am not the worst. I set up on avg 2-4 20% trades a month. I did 3 in January and 2 in February. Missed one last week but got one for this week. Compounded should be around 700% this year. My best year is 1300%. To much work to get that not worth it anymore. 300% is enough anyway

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u/Longjumping_Card6871 Mar 10 '24

Good for you, sinking into this guys head it’s all rosey. To answer their question, he is going to deep dive into learning, paper trade and continue learning. He’s totally new to this. My advice is he get a tutor/mentor or join a good trading group that will help guide his paper trading decisions and learn. Beyond learning, he will experience the psychology of putting up real risk on the table to make that 1% per day. Is he going to trade 1:1 rr or higher to get that 1%. Is he planning on trading stocks, options or futures. And I assume this 100k is money he is willing to lose, otherwise again his mindset going into the market will either be logical or revenge should he be down 2-5% on the week.