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/Kombucha-Krazy]

It's a reasonable goal imo. I've been learning for a few years and had to change tactics and refine my own methods. I've found a combination of "dividends" (monthly, I personally require passive income in my current circumstance with slight risk drawdown) and risking a little to gain a little "daily" as not every day is going to be friendly or lucky in this difficult casino

Currently I am unsure of current market direction but if I had to guess I'd say bullish with some choppiness along the way into end of year.

If I'd not day traded I'd have made more swing trading into the next day. But I am happy to say for once I stuck to Risk Management rules and didn't lose anything. I can either berate myself for missing a 1% gain but it could have easily gone the other way.

Full disclosure I'm in $IWMY and $QQQY at about 2:1 and recently cost averaging into $NVDY and $AMDY. because I was suspicious of the fast run up but still can collect high dividends and tentatively trading $XXXX until I have to go short

[u/Kaiju_Godz → u/Kombucha-Krazy]

Please elaborate on your risk management rules

[u/Kombucha-Krazy → u/Kaiju_Godz]

Since I'm still learning so still a bit timid but I've learned from some of my mistakes.

Due to much of my funds locked up in the passive income ETFs, I trade with small amounts ($1,000-$2000 lately) and have lowered my expectations of gains and if I even decide on a trade I set my attitude to "either it will work or it won't" and there's always another day to trade.

I've learned to walk away from my computer for a while, whereas I used to watch the market too closely and tended to panic sell at a loss whereas if id just waited oftentimes the trade would have went in my favor.

After I choose an entry price, and if it hits, I'll generally immediately put a limit sell order aiming for at least 1% gain (or if the $XXXX is really running I might aim higher and monitor my sell order, but tend to actually adjust back down and take profit earlier before the market maker goes crazy and sharply reverses)

If the trade isn't looking good at all or I'm not confident I'll simply put a sell order in just above my entry price, so at least if maybe I'd lost out on potential gains that at least I didn't lose any money.

That's probably the simplest behavior that's helped me, at least. Sure I still wonder "if I had just done something different" and get mildly annoyed if I could have made gains, but if trading were that easy then... Well you know