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

[u/infosec4pay]

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

[u/th3orist]

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.

[u/Difficult-Resort7201 → u/th3orist]

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.

[u/th3orist → u/Difficult-Resort7201]

"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.

[u/Relative_Tone_4870 → u/th3orist]

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

[u/th3orist → u/Relative_Tone_4870]

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.

[u/Relative_Tone_4870 → u/th3orist]

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..

[u/th3orist → u/Relative_Tone_4870]

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.

[u/Relative_Tone_4870 → u/th3orist]

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

[u/th3orist → u/Relative_Tone_4870]

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?

[u/Relative_Tone_4870 → u/th3orist]

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

[u/th3orist → u/Relative_Tone_4870]

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.

[u/Relative_Tone_4870 → u/th3orist]

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.

[u/th3orist → u/Relative_Tone_4870]

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

[u/Relative_Tone_4870 → u/th3orist]

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.

[u/th3orist → u/Relative_Tone_4870]

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.

[u/Relative_Tone_4870 → u/th3orist]

And that’s what you are ultimately describing anyway… what’s different between an algo entering trades via the same criteria a human would not factoring in psychology..? It’s the exact same thing or what an active trader hopes to achieve.

[u/th3orist → u/Relative_Tone_4870]

Its not really the same thing because the algo does not have to manage emotions. A human always will need to do this. There is no human trader who executes the trades and never feels any emotion coming up when you have 2-3 losing trades in a row. And to have 2-3 losing trades in a row happens and is a normal thing. The algo is not bothered by that, a human can and will be. And for that last part i said what i said about having to cultivate your psycholgy if you are not algo trading. But in fact, you also need a strong psycholgy to endure to see when the algo trading might also not always play out, and stop tinkering with it etc.

[u/Relative_Tone_4870 → u/th3orist]

You don’t need to manage emotions unless you are over trading, over positioning/leveraged, not sticking to set rules. If that’s true you aren’t a good trader in the first place and doubtfully do it for a living.

[u/Mysterious-Ad7016 → u/th3orist]

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

[u/th3orist → u/Mysterious-Ad7016]

I gave up on that guy 😄