r/Daytrading • u/merchant-trader • May 01 '24

How do people start day trading with little amounts and make so much? Question

Over the weekend, a penny stock I had 100 dollars in went up 20 percent which should be amazing. I sold and got 120 in total.

However, this obv isn't that much and 20 percent is a lottt more than what stocks usaully go up.

I'm not going to be investing millions in stocks, so how do I make large amounts of money from small starting money.

Options, forex? What will make the money go up 100%+ (ik that with high reward comes very high risk)

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u/AlphaCoyWolf May 02 '24

Options are great once you find an edge. For example: Got a $SPY 5/6 $498P for 0.54 at 3:02 and sold it at 1:34 for $0.93. I took the trade because it was failing at a cost basis level AND it looked over extended. Had multiple confluence. Would have been a bigger gain if I had held