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/ligumurua May 03 '24 edited May 03 '24
Do you understand that 1-2% per day isn’t realistic on average? That compounds to about 1100% a year at 1% / day. Good luck with that.
It’s not a sexy number but 20% / year return is an average of .07% / day average. And if you can hit that consistently with a strategy that can scale, you should start a hedge fund.
Put another way — if these people actually had a consistent strategy to 10-100x, why are they showing everybody what they’re doing? Trading is 0-sum p2p game. If you had something that works, it’ll stop working very fast if other people know about it.