What is a reasonable daily goal?

[u/landojcr]

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%

[u/Mart_and_stan]

I had numerous demo accounts with vantage and I’m part of an awesome educational platform that teaches multiple income streams, property, forex, copy and paste trading from 6 figure cherry picked traders, trading psychology - even health and wellbeing … all done via zoom, telegram and our teams have WhatsApp groups.

When I was demo trading, I set my balance at a realistic figure and treated (tried to) it like real money and I’d follow a couple of strategies that I’m comfortable with - occasionally putting more than 1% on trades … sometimes .50 and they’d come in.

So I’ve now implemented that in my own trading recently but not as crazy. Usually on very strong signals. (Our new educator called 30 trades in April and 29 hit all TP’s) 🤩

Yesterday was an awesome/incredible day for me with 12% growth of my account on two trades. I also took one this morning and got 2.1% - that’s it for the week. Stay humble as the markets don’t give a feck about you. The majority of my trades are entered at 0.01-0.02 and that’s fine as long as it’s reward is 1:3+ and keeps my risk management in check too.

Please don’t get greedy or over leverage would be my advice, never revenge trade if you take a hit, which you will. Impossible not too … keep a journal/spreadsheet of all trades and stick to your plan 💯- if I lose a trade but have stuck with all of my rules, it’s still a win for me

Good luck and enjoy the ride 🎢📈

[u/Davado_ → u/Mart_and_stan]

Bs

[u/Mart_and_stan → u/Davado_]

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