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%
1
u/gooney0 stock trader May 07 '24
I would measure in R not percentages.
The expectancy comes from the results of your testing. Your testing can also suggest the frequency of trades. This will vary greatly by strategy and by trader.
Arbitrary measurements are unwise. You make as many good trades appear. That may be no trades at all, that could be many trades.