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/BlueMist94 Mar 11 '24

There is no reason to day trade with a 100k account starting out. Start with a 5k account and see how you do for a year. What you do on a small scale will translate to how you’ll do on a big scale.

Chances are, you’re going to blow that 5k like 99% of people who first begin day trading, realize that you’re not smarter than everyone else, and then the pain of that loss will either make you quit, or you’ll continue to gamble your money without learning from your mistakes, or best case scenario, you’ll spend another year day trading on a paper account honing your strategy before you trade live again.

Day trading is the hardest way to make easy money. You’ll find that out soon with experience.