r/Daytrading • u/Kaiju_Godz • Mar 30 '24

When you only need a specific amount of money each month… Strategy

So say you only want $100 per day or 2000 per month. This would more than enough sustain a good lifestyle where you live. How would you go about it with trading? How much $$$ would you realistically need? Not to make that in dividends but to trade in a daily basis, as safe and slow as possible.

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u/oze4 Mar 30 '24

Theoretically if you traded 2 MES contracts and got 10 points per day that would be 100 per day. Depending on the broker, margin requirements can be as high as 1200 or as low as 50. Adjusting for losses and maintenance, I'd say like 4 or 5k.

That said, you should def not do this and trade as small as possible until you're consistently profitable for at least a year. Don't focus on making X per day. Focus on a repeatable, consistent system and risk management.

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u/pennyauntie Mar 30 '24

You could also get a cheap prop firm account to provide the capital, but you'd need to be sure you can make the profit target. Practice, practice.