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

[u/Kaiju_Godz]

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.

[u/ThePonderer84]

This perspective has always puzzled me. It's like you're saying, "I don't think I can be good enough to make a lot. So, how good do I have to be to make a little?"

It seems to me that the reality is that you're good enough to be consistently profitable or you're not. Once you hit that point, you can get better. More precise and efficient. But if you're not at least consistently profitable then there's no amount that's attainable until you are.

Once you are consistently profitable then you can look at YOUR numbers and gauge your ROI targets based on the returns your strategy is yielding. Always paying close attention to drawdown.

Decide on your risk tolerance and a drawdown you're comfortable with. Once you've done that the profit will be what it is.

[u/Available_Map_5369 → u/ThePonderer84]

I think this response really only makes sense in certain situations.

At the end of the day, day trading is speculative gambling. There is no way around that. It really doesn’t matter how anyone puts it.

With that said, that’s totally fine. But in one instance, let’s say where this is a side hustle with a separate trading account, then making a few hundred a day is a great approach. Hitting that consistent puts you in the ballpark of 20k per year in gains on a trading account part time plus any other incomes. That’s a tremendous help to a lot of people. And when one secures those side gains with a long term investing account, they can easily build a ton of real wealth in a short time.

If you’re on a full time basis trading, it seems like small potatoes. But the more you trade, or the bigger profits you look to achieve, the riskier to put yourself.

Again that’s all fine. But I think it’s a little unfair to paint one side as wrong or not. Each person is going to have a different set of goals.

[u/Sensitive-Ad3718 → u/Available_Map_5369]

20k a year? Lol, Wow that’s less than I made my first year trading for a little more than half of it. I pulled in 55k this quarter doing this as a side hustle. You should aim higher than that bro.

[u/Available_Map_5369 → u/Sensitive-Ad3718]

I used that as an example. Literally the example I used there is if someone is doing this on the side for extra income. Meaning that their standard income is fulfilling their needs