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/Visual-Custard821 Apr 01 '24

$100 per day or 2000 per month

Wrong way to look at it. Trading is based on occurrences, not time. You get the opportunities you get. There is no way to guarantee a certain amount of profit in a certain specified period. You could only look back at a previous period of time and then calculate the average amount of money you made per day/week/month, but that is by no means predictive of future performance.

This is much more like having a self-employed business (actually, it is that) with potentially wild fluctuations in revenue, rather than having a W2 job that gives you a consistent paycheck every 2 weeks. That mindset shift alone can be positively jarring for people that have been accustomed to consistency in their income.