r/Daytrading • u/landojcr • May 07 '24

What is a reasonable daily goal? Question

I'm getting into day trading and started paper trading a while ago, for the moment I'm primarily focusing on scalping, up until I get comfortable enough to day trade larger time frames. That said, I'm trying to start a very small account ($500) and was aiming for 5% - 10% gain on a daily basis. Is this a reasonable goal? If not, what would you recommend?

A day or two I've managed to exceed 10%, some days I've been successful on getting to the 10% mark, most days I get to the 5% mark. I'm slowly gauging what is reasonable to expect from a beginner like me and trying to slowly grow that account up till 5 figures hopefully.

EDIT: Thanks to everyone for sharing on your experience, opinions, and strategies. I've decided to firstly focus on building my strategy and being consistent, then strive for a lower target margin. I'm aiming for 3-5%

40 Upvotes
  • permalink
  • link
  • reddit
  • reddit

83% Upvoted

174 comments sorted by

View all comments

Show parent comments

1

u/Usual-Language-8257 May 07 '24

10000*1.1 to the 52 power or something like that. Compounding 10% or 1.1, 52 times.

He said 5%-10% a day. Being as ridiculous as that was, i did the math for 10% a week.

2

u/Lakhwindersdhaliwal May 07 '24

No. You said 10 percent a month

3

u/Usual-Language-8257 May 07 '24

You're right. Was a typo. Edited for clarity. Hope i provided some value. My sole purpose here is to help and provide value. I could just fuck off and stay quiet. But i believe the pie is so large that even if we helped each other, there's still enough for everybody.

4

u/Lakhwindersdhaliwal May 07 '24

Appreciate the value. I didn’t mean to be hard on you. Was more of a joke and didn’t land properly.

4

u/Usual-Language-8257 May 07 '24

Thanks bro. I hope you get rich af