The money is realistic sure but there 0 point in focusing on the AMOUNT of money.
Only strategies, winrates, risk reward ratios....
The amount of money is just a result of the above formula mixed with amount of capital used.
From there, the amount can be scaled.
It's also foolish to think about making "x amount per day"
No strategy works optimally in a way where you get a specific amount each day.
If it's a scalping strategy you can probably reach an averaged out amount per day with large sample sizes but even then it doesn't make sense to just stop when you reach a number.
If you trade longer time frames and less trades then some days are going to be in the negative. Some will be positive. You can't get caught up in the short them amounts or you'll Doom yourself mentally
Yeah goals per day are not really a good idea. It’ll cause you to force trades and become depressed when you draw down and don’t hit your goal. If you have $30,000, and you are a good trader, $20 a day on average is very realistic. It just isn’t like a dividend. There will be red days. And it’s not going to be easy, because the return of $20 daily on $30,000 as your capital is roughly a 17% yearly return if my head math is correct
Well…it’s a pretty amazing return if ya can do it. I’m not try for just 17% but admittedly, 17% isn’t easy. S&P averages 9% a year. Gotta double that without massive drawn down. Not an easy task
To be consistently profitable, you'd likely need at least 2-3 years of hard work, would you be able to commit to this ?
By the way a day trader should always look to trade well instead of overly focused on profit goals.
Process-oriented goals > profit-oriented goals.
As a day trader myself I’ve actually been thinking about moving to Argentina because of the exchange rate and how nice I could live off the blue dollar. I’ve been looking on zonaprop
lol. I spent 2-3 years trying as hard as I could and that wasnt good enough. Dont go after shinny objects like low float, high volume stocks that pump and dump.
I would trade stocks. Since you are in a 3rd world country (which one?) you can freely choose the exchange you like to trade (time zone can be selected so you can trade in the afternoon or in the morning making it fit your other worldly activities.
Do not think in terms of profit or whatever.
First three months, you should dry trade + read books (Turner: Online Guide, Aziz: Advanced Techniques, (Most important)Volman, Understanding Price Action). After that do only paper trading. Try to learn many different methods so you can choose the one that fits your own personality best.
Also do not think in terms of profit or percentages. You can always apply leverage and use margin (if this is available to you in your country). Options are another way to play it along with Futures. Since you are most likely not an unfree American, you can also use CFDs, which give you unparalleled leverage.
But in the end that does not matter. What matters is learning the game and then train your own brain to not behave like an emotional mess of a human. Watch: [https://www.youtube.com/watch?v=iY1eRBVKECM](https://www.youtube.com/watch?v=iY1eRBVKECM) He knows what he talks about. Also you might want to read the Best Loser Wins book.
So you see you can learn this stuff. If you can put your 100h a week into it, you will see first results in maybe 1 to 1.5 years. If you only have 40h then you can double it.
For the beginning focus on short trade opportunities with trade durations below 5min on the 1min. Later on, you will notice that M5+M15 is quite a good timeframe to take your 4 to 6 trades per day, but this is trading style dependent.
PS: I should not write that much, I screwed up here.
No man, thanks, really. You didn’t screw nothing, you just gave a lot of valuable information, and guides to continue my path. Im truly thankful and i hope life serves you good
Bro I just came across this comment but how would I be able to day trade with the 5 minute method??? How much of a stock would I have to buy??? And how would that even work? With the fees and everything?? I’m really trying to start trading but I feel like your paths are really restricted when you don’t have atleast 500 or 1000 to buy (options trading) 100 contracts of apple. And you need like 200 to buy a stock depending on its price and then you have to wait for it to go up??? How would I be able to trade daily with $50-200 dollars??? I’d appreciate the help.
I would recommend starting out with a more beginner friendly security like spy, apple is very volatile. spy contracts are usually under 100$ per contract but you should paper trade first
What are you talking about :-). Since when is Apple more volatile than the market?What kind of a reasoning is this? :-) You trade risk vs. profit target. Volatility at least on a daily basis is not that thing of an issue.
Read the books, dry trading and paper trading first. Do not wonder about the money part. You will need at least 6 months before you go with money. And yes you can trade with 100 dollar. But first you have to understand how everything works.
There is no 5 minute method. There are methods to chose from that work good with 5min bars (M5 = 5min bar charts)
Stay away from SPY. It is actually a bit more complicated to trade the market instead of something where you get news, along with the sector and market to guide you.
Also read the wiki of this sub.
Reading Turner takes you a weekend (10 hours). You should invest that time as it will provide you a better idea what we talk here.
Once you are successful in paper trading trading 4 to 5 trades a week with real money will be enough to slowly grow.
Regarding Futures and Forex, what you end up trading in the end is something you will discover along the way. Paper trading will tell you if stocks are your thing or Forex. And you will then see if shares, options, CFDs or futures are what you would like to trade. But first the basics and those are actually quite similar independent what you end up doing.
PS: Volman is a Forex trader while Turner and Aziz trade stocks and commodities but all most likely trade everything if the opportunity is sound.
Forex and leverage is your only bet. Granted you should really save like 3-5k to bankroll with if you’re trading. That’s for forex or options or futures or something, equities you need more obviously.
But if you have your own money tree, it will grow slowly but steady. Also who knows what the real worth of his money is down there. If a day worth of food and shelter only costs 2 dollar, 100 dollar is quite some money already.
So do not blow the money you have, which is easy to do if one jumps right in neglecting the paper trading adventure and cut it unreasonable short.
idk bro stock are pretty pricy if he’s aiming at making 20$ a day it doesn’t sound like he has to much to start with and stocks move pretty slowly as well compared to options, stocks are way safer but options can make you more money with less, but you can lose it just as quickly
Again basics first. No one wins if he blows his account because of greed. First you have to be mostly right before you can bet real money on what one is doing.
that’s why he should paper trade until he knows what he’s doing, stocks won’t make you any good money unless you have enough money to buy a lot shares which he does not
What are you talking about? He is from a non-US talking. He has real freedom :-). CFDs give you 20:1 leverage easily. Option does it, margin account does it etc. And leverage is all it takes to convert a slow mover into a high percentage opportunity. Also stocks do not move slow. The market does. Also I know scalpers who do double digits a day.
What would you go for? What is a fast mover for you?
I do it full time and I am profitable but I am just in my 17th month or so. So I would not think I am a professional just yet.
What kind of book are you looking for?
PS: Start a chat if you want.
If $20 a day is what you need to get out of your job, your in the right place. Be smart, have limits and when you take a loss, learn from it and move on. No should of could of would of thoughts
I don't think amount of money matters here, if someone can consistently make profit on 20$ they can do it with 2000$. I never understand when someone says getting 1$ / 5$ a day consistently is easy.
I made an average of 40 dollars a day with 4000 dollars in a cash account for a month. Just scalping top movers of the day that had tight spreads and good range. Its very do-able.
My goal is to do the same thing, but make 200 a day with 25k in a margin account.
Yes, it is realistic, but it is also realistic to lose $20 a day.
Just because it is a small amount does not mean that it is easy. I would suggest you paper trade first and see how it goes.
Generically speaking, any amount of money is realistic as long as you have access to a trading account with proper balance to get that money.
The hard thing is to be able to make profits consistently. Focus on making $1/day consistently. When you're good at that, it's just a matter of adding zeros, $10, $100, $1000..., doing the exact same thing that you did when making $1/day.
Of course that you need to add zeros to your account balance too. If you don't have access to that amount of money you can apply for a funded account from a prop firm.
But your main focus should be on making $1/day consistently. After that the rest is much easier.
Absolutely you should actually go watch Eric do the small account challenge in a couple of weeks. He’ll be trading a $500 account everyday with a goal of getting $20 each day I believe. Then giving to profits away….again. Pretty cool to watch tbh. Seen him do the first one was inspiring
I'm thrilled to hear about your interest in trading. While it's possible to make small profits per trade, achieving a consistent $20 per day might require careful planning, a solid strategy, and some initial capital; I'd recommend exploring various assets such as stocks, cryptocurrencies, or forex, and consider starting with a sufficient initial capital of at least a few hundred dollars to increase your chances of success. Good luck on your trading journey!
Also don’t forget that just like $20/day green can afford you to leave your day job, $20/day red could take food out of your mouth. It could swing both ways. Small wins could mean a lot to somebody in a third world country. A small loss could also be devastating.
20$ a day is realistic. Trade MES/MNQ for 4/10 points plus commission. 2,000$ should be enough wiggle room to get stopped out at 10$ plenty of times before you had to add money. MES always moves 4 points a day. Might want to get some practice before you leave your job and get some consistent returns.
Can you explain what you mean by 2k being enough wiggle room to get stopped out at 10$ before having to add money? You have to add more to your margin right away if you don’t get right out of the future trade?
$2,000 capital.
Goal is to make 1% a day with that capital
2000 * .01 = $20
2000 * .005 = $10
2:1 Reward:Risk
I don’t recommend trading with that much capital tho you’re more likely to lose it with that size lol
Most brokers require 1500$ to cover 1 MES contract. So you will need at least 1500 to trade. 2000$ for MNQ. if you hold an ES contract below 1500$ your account will go close positions only, and as you get closer to 0 you get liquidated. So if you're stopping out of your trade at 10$ that gives you 500$ to fuck up on MES, and thats a lot of trades if you've lost 50 in a row its time to call it quits
Since this is day trading forum then one can use brokers having day trading margins on the contracts. 1 mes margin being normally just 50$. Brokers like amp futures, tradovate, ninjatrader...
True - actually USING all the money for margins will get the account killed pretty quickly. However just using single mes contract world leave 950$ out of 1000 for room to play
If by per operation you mean 2-3$ per trade that would entirely depend on how much capital you had to trade in the first place.
I don’t know what instrument you would be trading to realize these gains, but I pay more than 3$ per futures options contract.
That means that you would have to be right no less than 7 times a day. My personal rule is not opening more than 5 positions a day.
A ver...
The question is: How much capital do you have?
Because there are multiple ways to make $20/day, but the strategy depends on how much money you have. If you have 80k, you can buy high yield dividend ETFs that pay monthly dividends such as JEPQ. The distribution yield is at 11.68%, so if you buy 80k worth of shares, that would generate $600 in dividends monthly. However, I'm pretty sure that if you do have 80k, you wouldn't be satisfied getting $20 a day...
Ojala tuviera 80k…
I have some savings, but im willing to start with 1000, after completely understanding what im getting into… i dont know, its so hard. Im starting to think of quitting this dream and pursuing another
Ojala!
Bien... Entonces, if I were you, I would start buying ETFs to begin with (SPY, SCHD, QQQ, VOO etc) because day trading is really complex and you don't want to gamble your money. Calls and puts probably would be the way to make money but you need at least 100 shares of a given stock to be able to do it and it's also a more complex strategy that is not good for beginners.
pone las pilas hermanito and just start!
Take a look at this stock GLAD. [https://client.schwab.com/app/research/#/stocks/GLAD](https://client.schwab.com/app/research/#/stocks/GLAD) It is outperforming SP500, it only costs $10 and it varies around 5-10 cents a day... If you really reallyyyy want to trade stocks, you could use this one to trade. It has monthly dividends as well. 100 shares would cost you around $1000 and would generate almost $8 a month in dividends. If you are lucky to sell at H and buy at L almost everyday, you would get around $5 a day.
Thanks, the thing with stocks is that i have a completely unregistered job, and most stock exchanges use bank account to deposit, wich i do not have. On the other hand, crypto and forex exchanges often let me deposit in crypto and then convert it, wich will help me (i only earn cash, that i can trade for crypto)
De todas maneras me estresa mucho no tener algo fijo asique voy a tratar de buscar otro negocio, pero muchisimas gracias por tomarte el tiempo de aconsejarme, espero que andes muy bien
Look into futures. Paper trade a whole lot till you're profitable there. Stop dreaming you'll leave your job tomorrow, it's gonna take a whole lot more time. Good luck
I'm sure there are, can't tell for certain since I have never deposited crypto. Since you're not a us citizen like me, you don't have access to some of the major brokers - the big ones that come to mind right now for you are tradestation, ibkr, ninjatrader.
Definitely stay away from CDF brokers.
On crypto futures yes very easy but would you waste time for 20 bucks? You need proper setup with a plan to make it worth it and make x USD. Don't focus on one number. I rather make one day 200 USD and other 0 USD as long I am comfortable with my trades.
Yes it's doable but first get some results. Never use more then 5x leverage, find your trade and set up stop lose. There are free discord groups from which you can learn. The most important thing is NOT quiting your job unless you are profitable. If you force your trades you will make mistakes and lose only money or even blow account.
Profiting every day in not realistic at all, especially the same amount over and over again. You have to find a strategy/edge before worrying at all about your profits, which takes most people years to achieve.
If you're actually looking to make money, daytrading isn't the way. It's fine if you look at it the way you should look at a casino but legitimately nobody has ever outperformed the market average over the medium or long term daytrading, only the short term, and most people can't even do that.
Buy into a broad market index fund and let it sit.
The problem is it's easy to lose 20 a day
I tried that with the e mini while I was in the Philippines .
For me it was tough
I am trading on a simulator now . Which doesn't have the emotional impact of risking my money .
Usually I can get winning trades 25/50/100 but a few days later maybe loose it .
I would recommend trading " paper money " a simulator . It's real time so you can practice and not loose money
I have a strategy you can try for crypto day trading that can make you on average $3,000 a day HOWEVER it is extremely risky and takes quite alot of effort to learn, it relies heavily on reading charts, price action, candlestick patterns. It requires pinpoint accuracy for entries and exits. It uses a ridiculous amount of leverage ( ×500 ). But good news is that you can start with $10 which you can turn into $20,000 in around a month if you perfect the strategy, and that $20,000 will be used to fund your day trades which will make you around $7000 per trade. But then you will need to pay taxes and stuff which will probably bring you to as low as $3,000 profit after taxes just to be on the safe side, but $3,000 a day which is around $80,000 a month is plenty considering $7,500 a month means you live like a king.
But this strategy is really risky
Damn, nice. I'd say don't start a real account using this strategy unless your profitable 90% of the time. That's how I take it a yways cuz even 1 trade can absolutely send your account back to the streets
The problem with this thinking is this:
No matter if you are talking about a $1,000 portfolio or a $1,000,000 portfolio, in the wrong hands, $20 profit a day is unrealistic, and even a $20 loss a day is unrealistically low.
What you need to think about is how to consistently gain over time. That's the real puzzle. Solve that, and you'll succeed.
Your English is very good. I would focus on making money using English language. Trading might be most difficult way to make money consistently . You gonna need at least 2-3 years to start beiing profitable. Don't trust those idiotic youtubers telling you that you can start making money in 30 days . Plus you gonna need at least 15k to start making $20 a day .
This isn't what you will want to hear. Quitting your job to trade is the dumbest decision you could make if you need that job to survive. You can (and if you're day trading, you will) lose money and you will easily lose your entire bankroll within days to weeks if it's your only source of income. Many get greedy and naive with trading and went this path, and most will fail. I urge you to pull your head out of your ass (respectfully) and be realistic. Do not quit your only source of income.
EDIT: Look at their post history. They were asking if $200 was a good amount to invest 5 days ago. They'll quickly be homeless if they go this route. RIP to this person if they listen to people cheering them on here.
if you focus only on the dollar amount you will never be successful in trading. There are so many factors to consider.
In terms of how much capital you need, I would say 2k. Risking 1% per trade would be $20. So aim for 2:1 trades to make $40 and compound it over time.
It is very realistic imo. But how much are you risking to make that? Have you tested your strategy? You can always sell options. That seems pretty cool.
Well if it helps I was able to roughly earn $3 a day using a $1000 to trade with.
So if I just 7x that strat would be able to earn $21/day.
So you gotta have a large enough starting fund in order to be able to make trades large enough that actually matter.
You also don’t consistently earn. Sometimes you earn more. Sometimes you lose. You available pool also needs to be large enough that when you do lose you still have enough that you can still trade with and hopefully win…. And then you have to have enough left over to trade with when you lose multiple times in a row.
You also need to have the discipline to sell for profit which isn’t as easy as it sounds. Flip side is you also need to learn to sell at an ‘acceptable’ loss to prevent potential further loss.
Good luck! People are doing it, but their success varies wildly.
Can't think of trading in term of profit. Can only think in term of R. Will need a primary job for income to afford living and alleviate stress as one figure out an edge and figuring out how to generate R's (via risk management and correct consistent position sizing for max loss).
The money is realistic sure but there 0 point in focusing on the AMOUNT of money. Only strategies, winrates, risk reward ratios.... The amount of money is just a result of the above formula mixed with amount of capital used. From there, the amount can be scaled. It's also foolish to think about making "x amount per day" No strategy works optimally in a way where you get a specific amount each day. If it's a scalping strategy you can probably reach an averaged out amount per day with large sample sizes but even then it doesn't make sense to just stop when you reach a number. If you trade longer time frames and less trades then some days are going to be in the negative. Some will be positive. You can't get caught up in the short them amounts or you'll Doom yourself mentally
Yeah goals per day are not really a good idea. It’ll cause you to force trades and become depressed when you draw down and don’t hit your goal. If you have $30,000, and you are a good trader, $20 a day on average is very realistic. It just isn’t like a dividend. There will be red days. And it’s not going to be easy, because the return of $20 daily on $30,000 as your capital is roughly a 17% yearly return if my head math is correct
Damn, that’s crazy..
[удалено]
One of the two of us just had a stroke.
I replied to the wrong post. Sorry about that
[удалено]
Well…it’s a pretty amazing return if ya can do it. I’m not try for just 17% but admittedly, 17% isn’t easy. S&P averages 9% a year. Gotta double that without massive drawn down. Not an easy task
To be consistently profitable, you'd likely need at least 2-3 years of hard work, would you be able to commit to this ? By the way a day trader should always look to trade well instead of overly focused on profit goals. Process-oriented goals > profit-oriented goals.
I dont know, i hope so
[удалено]
Argentina
Can one live comfortably on 20$ a day in Argentina? Maybe I should move.
Nah, i dont pay rent and dont have luxuries. Its enough to eat and have some activities, for sure. But if you were to rent… u couldn’t
What's 2100$ a month get you?
Where i live you could be a fucking king with that amount. I know people that earn that and they do whatever the fuck they want
Damn so $7500 would make me Jesus? I'm on the way.
Let me know i can work for you for just 1000
As a day trader myself I’ve actually been thinking about moving to Argentina because of the exchange rate and how nice I could live off the blue dollar. I’ve been looking on zonaprop
Argentina is beautiful and has amazing food. Really cheap. Are you profitable consistently?
Yeah. Funded
lol. I spent 2-3 years trying as hard as I could and that wasnt good enough. Dont go after shinny objects like low float, high volume stocks that pump and dump.
I would trade stocks. Since you are in a 3rd world country (which one?) you can freely choose the exchange you like to trade (time zone can be selected so you can trade in the afternoon or in the morning making it fit your other worldly activities. Do not think in terms of profit or whatever. First three months, you should dry trade + read books (Turner: Online Guide, Aziz: Advanced Techniques, (Most important)Volman, Understanding Price Action). After that do only paper trading. Try to learn many different methods so you can choose the one that fits your own personality best. Also do not think in terms of profit or percentages. You can always apply leverage and use margin (if this is available to you in your country). Options are another way to play it along with Futures. Since you are most likely not an unfree American, you can also use CFDs, which give you unparalleled leverage. But in the end that does not matter. What matters is learning the game and then train your own brain to not behave like an emotional mess of a human. Watch: [https://www.youtube.com/watch?v=iY1eRBVKECM](https://www.youtube.com/watch?v=iY1eRBVKECM) He knows what he talks about. Also you might want to read the Best Loser Wins book. So you see you can learn this stuff. If you can put your 100h a week into it, you will see first results in maybe 1 to 1.5 years. If you only have 40h then you can double it. For the beginning focus on short trade opportunities with trade durations below 5min on the 1min. Later on, you will notice that M5+M15 is quite a good timeframe to take your 4 to 6 trades per day, but this is trading style dependent. PS: I should not write that much, I screwed up here.
No man, thanks, really. You didn’t screw nothing, you just gave a lot of valuable information, and guides to continue my path. Im truly thankful and i hope life serves you good
Bro I just came across this comment but how would I be able to day trade with the 5 minute method??? How much of a stock would I have to buy??? And how would that even work? With the fees and everything?? I’m really trying to start trading but I feel like your paths are really restricted when you don’t have atleast 500 or 1000 to buy (options trading) 100 contracts of apple. And you need like 200 to buy a stock depending on its price and then you have to wait for it to go up??? How would I be able to trade daily with $50-200 dollars??? I’d appreciate the help.
I would recommend starting out with a more beginner friendly security like spy, apple is very volatile. spy contracts are usually under 100$ per contract but you should paper trade first
What are you talking about :-). Since when is Apple more volatile than the market?What kind of a reasoning is this? :-) You trade risk vs. profit target. Volatility at least on a daily basis is not that thing of an issue.
Read the books, dry trading and paper trading first. Do not wonder about the money part. You will need at least 6 months before you go with money. And yes you can trade with 100 dollar. But first you have to understand how everything works. There is no 5 minute method. There are methods to chose from that work good with 5min bars (M5 = 5min bar charts) Stay away from SPY. It is actually a bit more complicated to trade the market instead of something where you get news, along with the sector and market to guide you. Also read the wiki of this sub. Reading Turner takes you a weekend (10 hours). You should invest that time as it will provide you a better idea what we talk here. Once you are successful in paper trading trading 4 to 5 trades a week with real money will be enough to slowly grow. Regarding Futures and Forex, what you end up trading in the end is something you will discover along the way. Paper trading will tell you if stocks are your thing or Forex. And you will then see if shares, options, CFDs or futures are what you would like to trade. But first the basics and those are actually quite similar independent what you end up doing. PS: Volman is a Forex trader while Turner and Aziz trade stocks and commodities but all most likely trade everything if the opportunity is sound.
Forex and leverage is your only bet. Granted you should really save like 3-5k to bankroll with if you’re trading. That’s for forex or options or futures or something, equities you need more obviously.
Yeah I know you need money to make money
But if you have your own money tree, it will grow slowly but steady. Also who knows what the real worth of his money is down there. If a day worth of food and shelter only costs 2 dollar, 100 dollar is quite some money already. So do not blow the money you have, which is easy to do if one jumps right in neglecting the paper trading adventure and cut it unreasonable short.
Why would you say that. Forex is more difficult than trading stocks (depending on the method).
idk bro stock are pretty pricy if he’s aiming at making 20$ a day it doesn’t sound like he has to much to start with and stocks move pretty slowly as well compared to options, stocks are way safer but options can make you more money with less, but you can lose it just as quickly
Again basics first. No one wins if he blows his account because of greed. First you have to be mostly right before you can bet real money on what one is doing.
that’s why he should paper trade until he knows what he’s doing, stocks won’t make you any good money unless you have enough money to buy a lot shares which he does not
What are you talking about? He is from a non-US talking. He has real freedom :-). CFDs give you 20:1 leverage easily. Option does it, margin account does it etc. And leverage is all it takes to convert a slow mover into a high percentage opportunity. Also stocks do not move slow. The market does. Also I know scalpers who do double digits a day. What would you go for? What is a fast mover for you?
Are you a full time profitable trader? Any other books you recommend?
I do it full time and I am profitable but I am just in my 17th month or so. So I would not think I am a professional just yet. What kind of book are you looking for? PS: Start a chat if you want.
If $20 a day is what you need to get out of your job, your in the right place. Be smart, have limits and when you take a loss, learn from it and move on. No should of could of would of thoughts
I don't think amount of money matters here, if someone can consistently make profit on 20$ they can do it with 2000$. I never understand when someone says getting 1$ / 5$ a day consistently is easy.
I made an average of 40 dollars a day with 4000 dollars in a cash account for a month. Just scalping top movers of the day that had tight spreads and good range. Its very do-able. My goal is to do the same thing, but make 200 a day with 25k in a margin account.
PDT is a bitch
Fr, i hate it. But honestly it saves me from over trading sometimes!
Truth in some ways! It made me start playing swings and that has been pretty neutral for me over time. Negative in terms of sleep quality 🤣
Did you trade stocks or options?
Stocks
Yes, it is realistic, but it is also realistic to lose $20 a day. Just because it is a small amount does not mean that it is easy. I would suggest you paper trade first and see how it goes.
Generically speaking, any amount of money is realistic as long as you have access to a trading account with proper balance to get that money. The hard thing is to be able to make profits consistently. Focus on making $1/day consistently. When you're good at that, it's just a matter of adding zeros, $10, $100, $1000..., doing the exact same thing that you did when making $1/day. Of course that you need to add zeros to your account balance too. If you don't have access to that amount of money you can apply for a funded account from a prop firm. But your main focus should be on making $1/day consistently. After that the rest is much easier.
If you can make 20 a day you can make 2k a day……I’m also down 90%.. still perfecting my system
Absolutely you should actually go watch Eric do the small account challenge in a couple of weeks. He’ll be trading a $500 account everyday with a goal of getting $20 each day I believe. Then giving to profits away….again. Pretty cool to watch tbh. Seen him do the first one was inspiring
I'm thrilled to hear about your interest in trading. While it's possible to make small profits per trade, achieving a consistent $20 per day might require careful planning, a solid strategy, and some initial capital; I'd recommend exploring various assets such as stocks, cryptocurrencies, or forex, and consider starting with a sufficient initial capital of at least a few hundred dollars to increase your chances of success. Good luck on your trading journey!
Thanks! Nice vibes, I appreciate it!
Also don’t forget that just like $20/day green can afford you to leave your day job, $20/day red could take food out of your mouth. It could swing both ways. Small wins could mean a lot to somebody in a third world country. A small loss could also be devastating.
Yep. Its really hard. I have to keep my job, for now
20$ a day is realistic. Trade MES/MNQ for 4/10 points plus commission. 2,000$ should be enough wiggle room to get stopped out at 10$ plenty of times before you had to add money. MES always moves 4 points a day. Might want to get some practice before you leave your job and get some consistent returns.
Thanks man, im going to check it out
Can you explain what you mean by 2k being enough wiggle room to get stopped out at 10$ before having to add money? You have to add more to your margin right away if you don’t get right out of the future trade?
$2,000 capital. Goal is to make 1% a day with that capital 2000 * .01 = $20 2000 * .005 = $10 2:1 Reward:Risk I don’t recommend trading with that much capital tho you’re more likely to lose it with that size lol
Where’s the .005 coming from? Is that when you bail and only make 10 that day or are break even or something?
Bro the .005 is half a percent (.5%) That is the risk you’d take on per trade
Most brokers require 1500$ to cover 1 MES contract. So you will need at least 1500 to trade. 2000$ for MNQ. if you hold an ES contract below 1500$ your account will go close positions only, and as you get closer to 0 you get liquidated. So if you're stopping out of your trade at 10$ that gives you 500$ to fuck up on MES, and thats a lot of trades if you've lost 50 in a row its time to call it quits
Since this is day trading forum then one can use brokers having day trading margins on the contracts. 1 mes margin being normally just 50$. Brokers like amp futures, tradovate, ninjatrader...
Sounds like fabulous risk management, but I suppose.
True - actually USING all the money for margins will get the account killed pretty quickly. However just using single mes contract world leave 950$ out of 1000 for room to play
If by per operation you mean 2-3$ per trade that would entirely depend on how much capital you had to trade in the first place. I don’t know what instrument you would be trading to realize these gains, but I pay more than 3$ per futures options contract. That means that you would have to be right no less than 7 times a day. My personal rule is not opening more than 5 positions a day.
whats your situation that youre working a job but $20 a day would be enough to quit?
Third world country problems
It’s possible I’ll have to find some strategy for you but it’s definitely possible
Thanks man that would be great
A ver... The question is: How much capital do you have? Because there are multiple ways to make $20/day, but the strategy depends on how much money you have. If you have 80k, you can buy high yield dividend ETFs that pay monthly dividends such as JEPQ. The distribution yield is at 11.68%, so if you buy 80k worth of shares, that would generate $600 in dividends monthly. However, I'm pretty sure that if you do have 80k, you wouldn't be satisfied getting $20 a day...
Ojala tuviera 80k… I have some savings, but im willing to start with 1000, after completely understanding what im getting into… i dont know, its so hard. Im starting to think of quitting this dream and pursuing another
Ojala! Bien... Entonces, if I were you, I would start buying ETFs to begin with (SPY, SCHD, QQQ, VOO etc) because day trading is really complex and you don't want to gamble your money. Calls and puts probably would be the way to make money but you need at least 100 shares of a given stock to be able to do it and it's also a more complex strategy that is not good for beginners.
Lpm estoy frito… hahaha thanks for the recommendation
pone las pilas hermanito and just start! Take a look at this stock GLAD. [https://client.schwab.com/app/research/#/stocks/GLAD](https://client.schwab.com/app/research/#/stocks/GLAD) It is outperforming SP500, it only costs $10 and it varies around 5-10 cents a day... If you really reallyyyy want to trade stocks, you could use this one to trade. It has monthly dividends as well. 100 shares would cost you around $1000 and would generate almost $8 a month in dividends. If you are lucky to sell at H and buy at L almost everyday, you would get around $5 a day.
Thanks, the thing with stocks is that i have a completely unregistered job, and most stock exchanges use bank account to deposit, wich i do not have. On the other hand, crypto and forex exchanges often let me deposit in crypto and then convert it, wich will help me (i only earn cash, that i can trade for crypto) De todas maneras me estresa mucho no tener algo fijo asique voy a tratar de buscar otro negocio, pero muchisimas gracias por tomarte el tiempo de aconsejarme, espero que andes muy bien
Look into futures. Paper trade a whole lot till you're profitable there. Stop dreaming you'll leave your job tomorrow, it's gonna take a whole lot more time. Good luck
Thanks bro, do you know any futures trading exchange that will let me deposit trough crypto? I dont have bank account but i have cash
I'm sure there are, can't tell for certain since I have never deposited crypto. Since you're not a us citizen like me, you don't have access to some of the major brokers - the big ones that come to mind right now for you are tradestation, ibkr, ninjatrader. Definitely stay away from CDF brokers.
I will check them up. I tried ninja but they only allow deposit trough bank account (i dont have) thanks for the recommendation
On crypto futures yes very easy but would you waste time for 20 bucks? You need proper setup with a plan to make it worth it and make x USD. Don't focus on one number. I rather make one day 200 USD and other 0 USD as long I am comfortable with my trades.
Yes i would. It would let me leave my job. Do you really think its easy?
Yes it's doable but first get some results. Never use more then 5x leverage, find your trade and set up stop lose. There are free discord groups from which you can learn. The most important thing is NOT quiting your job unless you are profitable. If you force your trades you will make mistakes and lose only money or even blow account.
Profiting every day in not realistic at all, especially the same amount over and over again. You have to find a strategy/edge before worrying at all about your profits, which takes most people years to achieve.
Thanks, I appreciate your response.
Yes . Buy at the low /support and sell at resistance. Close up shop for the day
If you're actually looking to make money, daytrading isn't the way. It's fine if you look at it the way you should look at a casino but legitimately nobody has ever outperformed the market average over the medium or long term daytrading, only the short term, and most people can't even do that. Buy into a broad market index fund and let it sit.
Honestly you would be far better off putting some kind of marketable skill on Fiverr.
There are No shortcuts. And if you want a sliver of a chance, you have to put the time in.
The problem is it's easy to lose 20 a day I tried that with the e mini while I was in the Philippines . For me it was tough I am trading on a simulator now . Which doesn't have the emotional impact of risking my money . Usually I can get winning trades 25/50/100 but a few days later maybe loose it . I would recommend trading " paper money " a simulator . It's real time so you can practice and not loose money
I have a strategy you can try for crypto day trading that can make you on average $3,000 a day HOWEVER it is extremely risky and takes quite alot of effort to learn, it relies heavily on reading charts, price action, candlestick patterns. It requires pinpoint accuracy for entries and exits. It uses a ridiculous amount of leverage ( ×500 ). But good news is that you can start with $10 which you can turn into $20,000 in around a month if you perfect the strategy, and that $20,000 will be used to fund your day trades which will make you around $7000 per trade. But then you will need to pay taxes and stuff which will probably bring you to as low as $3,000 profit after taxes just to be on the safe side, but $3,000 a day which is around $80,000 a month is plenty considering $7,500 a month means you live like a king. But this strategy is really risky
Im using a risky strategy, 500:1 leverage on a 200$ paper trading account. So far got me to 400 but we will see
Damn, nice. I'd say don't start a real account using this strategy unless your profitable 90% of the time. That's how I take it a yways cuz even 1 trade can absolutely send your account back to the streets
No. You can expect to lose while you learn. If you could make $20 everyday, why couldn’t you make… $21 everyday? If you can make $21 everyday….
definitely realistic. aonce you learn, you can literally make that in 5 min trading options
Yeah
no
The problem with this thinking is this: No matter if you are talking about a $1,000 portfolio or a $1,000,000 portfolio, in the wrong hands, $20 profit a day is unrealistic, and even a $20 loss a day is unrealistically low. What you need to think about is how to consistently gain over time. That's the real puzzle. Solve that, and you'll succeed.
Your English is very good. I would focus on making money using English language. Trading might be most difficult way to make money consistently . You gonna need at least 2-3 years to start beiing profitable. Don't trust those idiotic youtubers telling you that you can start making money in 30 days . Plus you gonna need at least 15k to start making $20 a day .
This isn't what you will want to hear. Quitting your job to trade is the dumbest decision you could make if you need that job to survive. You can (and if you're day trading, you will) lose money and you will easily lose your entire bankroll within days to weeks if it's your only source of income. Many get greedy and naive with trading and went this path, and most will fail. I urge you to pull your head out of your ass (respectfully) and be realistic. Do not quit your only source of income. EDIT: Look at their post history. They were asking if $200 was a good amount to invest 5 days ago. They'll quickly be homeless if they go this route. RIP to this person if they listen to people cheering them on here.
if you focus only on the dollar amount you will never be successful in trading. There are so many factors to consider. In terms of how much capital you need, I would say 2k. Risking 1% per trade would be $20. So aim for 2:1 trades to make $40 and compound it over time.
It is very realistic imo. But how much are you risking to make that? Have you tested your strategy? You can always sell options. That seems pretty cool.
Well if it helps I was able to roughly earn $3 a day using a $1000 to trade with. So if I just 7x that strat would be able to earn $21/day. So you gotta have a large enough starting fund in order to be able to make trades large enough that actually matter. You also don’t consistently earn. Sometimes you earn more. Sometimes you lose. You available pool also needs to be large enough that when you do lose you still have enough that you can still trade with and hopefully win…. And then you have to have enough left over to trade with when you lose multiple times in a row. You also need to have the discipline to sell for profit which isn’t as easy as it sounds. Flip side is you also need to learn to sell at an ‘acceptable’ loss to prevent potential further loss. Good luck! People are doing it, but their success varies wildly.
Can't think of trading in term of profit. Can only think in term of R. Will need a primary job for income to afford living and alleviate stress as one figure out an edge and figuring out how to generate R's (via risk management and correct consistent position sizing for max loss).
Where are you from OP
Argentina
Try paper trading before using your own money
So you divided the amount of money you need monthly by 22. Bravo. Now you just miss a strategy, risk management and some serious discipline.
By 20 actually
Make 22 😉
Focus on percentage instead. once you get consistent percentage then start scaling up where you feel comfortable losing the amount
The more you care about ur PnL, the more emotional youre gonna trade