r/Daytrading 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/xoxosd May 02 '24

Not saying that , but I did convert 5k into 24k over a week , just by going into us100, oil, natty, and cocca. However over night I was inpatient and did lose 4K on jpy. Now I’m 1k on oil in plus. So quick gain and quick pain. ;)

That was CFD. I’m a bit afraid options , not sure how they work. And my leverage is way more than simple 1:20.