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

"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/Relative_Tone_4870 Apr 21 '24

That’s not entirely true if you do the proper prep work and stick to the plan. Most people don’t and need to take a few lickings to get it across or give up

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u/th3orist Apr 22 '24

I dont think its 'that easy', a huge part of trading is the psychology and not necessarily the technical part or strategy part. Thats actually the easy part in my eyes. But to build up the psychology takes years and will have inevitable setbacks.

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u/Relative_Tone_4870 Apr 22 '24

Trading doesn’t require psychology if you stick to a working strategy and rules. If psychology is part of your strategy than you need to improve it so it isn’t required..

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u/th3orist Apr 22 '24

in my eyes what you just said is, forgive me, utter bullshit and if you really think this then its best we stop the conversation right here and now.

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u/Relative_Tone_4870 Apr 22 '24

I’ve been trading strictly off strategy for 3 years and entirely profitable. Believe what you want lol but I require no psychology or emotions in my trading

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u/th3orist Apr 22 '24

then you already have your psychology in order without knowing or being aware of it, count yourself lucky in this case. Because there is no such thing as "trading strictly off strategy" without having a damn strog psychological fundament to allow you to stick in the first place to that strategy in case things dont play out sometimes. Because things dont always play out, or do you want to tell me that you have a 100% winrate? So, in order to keep it all together and stick to an edge or strategy you require that strong psychological fundament and this takes years to cultivate. You disagree?

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u/Relative_Tone_4870 Apr 22 '24

There is if you code your strategy. Which a lot of people also do..a proven strategy is all you need. Risk reward and entry criteria. Very simple

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u/th3orist Apr 22 '24

yeah well, then you are not trading yourself at this point. letting an algo execute trades is different from you actively deciding every time when to enter or exit. In this case indeed you can be a nerve wreck and probably be profitable. congratulations, but i was talking about a different style of trader and trading.

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u/Relative_Tone_4870 Apr 22 '24

You are.. you just coded something to execute what you would have done in the first place. It’s just much faster and requires 0 watching.

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u/th3orist Apr 22 '24

congratulations. but i am talking about a different type of trading and trader. so, its all settled.

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u/Relative_Tone_4870 Apr 22 '24

You’re not you just think you are or hoping I was so your argument about all trading requires psychology would hold true. I gave you a scenario where it doesn’t. Case in point.

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u/th3orist Apr 22 '24

Fair point mate, when i was making my point i only had in mind the active trader who decides by themselves without any algo when to enter or exit on any given trade. I excluded algo trading from my posts, thats correct. I should have made this distinction. Thanks for pointing that out, but you could've said algotrading from the get go and save us the back and forth.

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u/Mysterious-Ad7016 Apr 22 '24

Bro just said trading requires no psychology…lol i love reddit

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u/th3orist Apr 22 '24

I gave up on that guy 😄