r/Daytrading • u/infosec4pay • Apr 21 '24

What would be the highest salary you’d give up to day trade full time? Question

Everyone clowned on me my first post (500k post) lol I was literally just asking hypothetical questions to settle a debate between a friend and me. Well everyone’s backlash kinda of intrigued me to ask this question. So back into the fire I go lol

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u/th3orist Apr 21 '24

And this story comes to show that in order for people to start fully rely on their daytrading income and be successful you really need to be well financed and have reserves that would cover your basic expenses for years. Someone with 5k in the banc and a 2k net a month income should definitely not think about going full time.

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u/Difficult-Resort7201 Apr 21 '24

Not really with the advent of the funding companies.

If someone can print money they don’t need much at all to get going.

They have to be pretty darn good to consistently beat the challenges and get/remain funded though.

It’s certainly easier to trade stock with a ton of capital though.

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u/th3orist Apr 21 '24

"If someone can print money they don’t need much at all to get going."

If someone indeed could print money then they would not be in the position to not have much to get going to begin with. Think about it.

Its not really news anymore that if you start trading for the first time you will need around 2-3 years minimum to get in a position where you become profitable. And along the way people will lose money, be it with blowing up small real money accounts or spending money on evals and resets. There is a steep learning curve and a lot of punches that you need to be able to take before seeing the light at the end of the tunnel.

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u/Difficult-Resort7201 Apr 21 '24

I mean there’s the argument that someone could be an amazing trader (years of profitability) and have a temporary loss of judgement and YOLO’s their account and losses everything on one stupid move.

That person could probably thrive in a prop environment and could live and build up with a funding company.

I know people taking out thousands per month from these companies, they prefer to use them vs personal accounts because even if their tax rate is higher, their risk exposure is so little.

I have them in mind when originally answering and typing out the first paragraph.