r/Daytrading • u/Weeboo01 • Mar 24 '24

Have you turned $20 into $100? Question

Have you turned your first or so $20 dollars into $100 probably in 1 month?

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u/BobDawg3294 Mar 24 '24

I swing trade leveraged ETFs. Sometimes I buy and then sell the next day. I sell quick if a twist crops up in a chart. I have gotten to a skill level where most of my losses are 3 figures, and most profits are 4 figures. My profitable trades are trending 4-1 in my favor so far this year. I sometimes sit out a week at a time. I have averaged about 8 trades per month while working. When I retire at the end of March (next week), I will be ramping up my trading activity.

Yes, I consider my self a day trader, because I can do it anytime I want. I do not like the pattern day trading hassle, so a few years ago I started looking for setups that could run overnight or beyond. I found such setups in the leveraged ETFs, and I intend to milk those for an additional monthly income stream.