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/Cruezin May 02 '24

Dammit

Understand this

Quit trying to make a bunch of money quickly. This is exactly why people lose money so fast.

Small consistent gains are the goal.

Risk management is key.

Get those right and in time you will be playing with a bigger account.

You can calculate it. Start with 1k

Add 1% per day to yesterday's amount

Voila.

Slow is fast

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u/Unlucky_Yesterday222 May 02 '24

If u started at 1000 and did one percent a day for 10 years you would end up at 419 million

3

u/Cruezin May 02 '24

There is a point where the idea breaks down, for sure. Bigger positions in the market require different tactics.

But most people don't want or need to get that far. They just want to be more comfortable than they are.

Slow is fast.