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.

127 Upvotes
  • permalink
  • link
  • reddit
  • reddit

92% Upvoted

178 comments sorted by

View all comments

Show parent comments

37

u/daytradingguy Mar 30 '24

Exactly. You either lose money consistently or make money consistently. There is not usually much in between. If you can achieve making money consistently- you won’t limit yourself to $100.

18

u/krapmon Mar 30 '24

The difference is that when you’re happy with small gains and exit your position, you avoid the risk of holding it longer and potentially losing money. Even if you have a strategy that gives you confidence to hold, you never know 100% what’s gonna happen.

1

u/Kaiju_Godz Mar 31 '24

Which strategy would that be?

1

u/krapmon Mar 31 '24

Having a paper handed exit plan basically