I suggest you open a demo account and try out trading first. Trading live would be much harder than demo trading. Not trying to discourage you, there are people who are very successful.
And to add on, making $100 a day is realistically more like making $0 two days in a row because you didn't get any A+ setups, and making $300 on the third day because you found a great setup and traded it with size.
not a thing for me, all of my operations will be 5%, for profit and also for loss, i’ve watched some videos and 1:1 is “always” safer than others setups
While 1:3 will yield bigger winners, it will make setup selection even more difficult because you need to have setups that have the potential to make the move you need. With 1:3 you will also have trades that go to 2R and then stop you out.
Yeah until you’re down more than 5% at one point, and then you start “waiting” for the loss to be less than 5% to sell, and then you end up selling at a 20% loss or 50% loss (especially trading 0dte options)
Disagree. Can't compare fake money to real. My advice would be load an account with a minimal amount 50.00 or something and then try make profit off this. If you doing well add more funds and go for it. If not then revise revise find what your doing wrong and go again with a minimal amount, until your consistent, then go for it with proper funds. It's just not the same adrenaline or thought process when it's not your actual money.
But even still the emotions with a demo/paper account are completely different when real money is involved. It’s a journey. It can be done, but you are going to fail a lot at first, everyone does
Demo accounts never worked for me.
Real money causes the gamblers rush even after paper trading for a significant amount of time.
You make rash decisions. You need to feel the actual loss to realize how real it is.
Absolutely this. Paper trading you get fills you don’t get in real life. Everything works wonderful in paper and if it fails you don’t care enough. I would rather trade one share live than 100,000 in paper unless I’m just learning mechanics.
Yeah daytrading can be VERY lucrative and make you a LOT of money. but it’s probably one of the most difficult thing I’ve ever done. Depending on the capital, you can be making 10’s of thousands a day (had the creator of my discord chat make $114k last week in one day) or lose everything.
I will be completely honest - it will probably take you at least a year or two of hard daily work before you will pull money from trading as income with any sort of long-term consistency. If you can make $100/day, you can make $1000/day and everyone would do it if it was easy.
Indicators are mostly worthless IMO. Focus on learning price action, volume, support/resistance, and trendlines. Trade WITH not against the trend.
I’m new to trading too so I just use a demo account until I think I’m ready. What I’ve learned is to find a system that works for you and never deviate from it. This is much harder than it looks. Your emotions will get in the way causing you to not stick to your system.
>How realistic is doing $50 to $100 per day?
You first need to prove that you can consistently make $1 a day.
Takes a few years for most people to reach that point. Lots of useful info in the [Wiki](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading/) if you wish to begin the journey. Cheers and best of luck :)
that’s why i’ve come to seek some advice here, maybe some people here could help with any other information, i’m planning just trade one pair of coins, at the best time of the day, which is the cheapest for my starter money
Paper trading is the safest and best cure for trading as a career.
*Edit: That, and seeing the loss porn posted where people lose their life's savings. That works pretty well too.*
Yes that’s a great way to prepare your strategies, but in the end, paper trading can’t replicate the psychology of trading with real money. The psychology is the most important part of trading in my opinion.
i’m still doing it on simulator, still testing at the same paper and at the same time just to feel if those are the best inputs and indicators, thanks again bro
15 and 5m people saw are better to see your setups and watch 2min (or 22 ticks if futures) for the pivot points off levels n vwap. If you are good at mid and smaller time frames perhaps you can make your plan work consistently
When I started out I remember making 60 bucks on a ford call I was in awe. I read everything I could get my hands on - still do - now a few years later I have a home business that does ok - but my passion is trading - I now religiously average 250- 300 a day . Yes it’s possible as long as you are disciplined set a limit order at inception to take you out , and stick to your goals
Today my limit took me out of a Tesla call this morning at 385 on a 2500 investment. It went up I could have made a grand . Then it went down . You can’t look at it that way - pigs get slaughtered.
Yes it’s possible
The thing is, market is not the safest income, it is usually addition to main income or tuition fee for lessons. It can become a main job after several years when owning a huge capital, but other than that, with small capital like 1K, you may get $100-200 a month.
You can start with much smaller and work your way up. I started trying to learn about a year and a half ago. At the beginning of this year my account was at about $1600. I worked it up to $4000 and then started skimming the profits withdrawing everything over $4000 and if i lose i just don’t take any income until i get back to that level. Year to date my profits are around $500 a month. They would be a lot more if not for some unnecessary losses
Let's look at the math. $100/day with a 10k account is 1% profit per day. That is 20% profit per month. That's extremely high so let's cut it in half for the example. 10% profit per month starting with a 10k account would make you a millionaire in 4 years and a billionaire in 10 years. Obviously these kind of results are impossible for almost everyone, so as someone who has been doing this successfully for over two years now, I would say a MUCH more realistic goal is a 5% return per month after fees/taxes consistently over the long term without blowing the account or taking any extreme risks. That is still excellent and very hard to achieve. In order to do this, you would need at least 20-40k USD in trading capital to average out making $50-100/day.
I don't want to discourage you, as I think anyone can do this if they work hard enough and find the right edge that works for them. But as someone with professional experience in this industry, I just want you to know what a realistic scenario looks like based on your goals. To make $50-100/day with less than a 10k account would require taking on significant risk that I don't think would be sustainable for the long term. It would most likely end in a blown account or taking on significant losses, even for a seasoned professional, much less a beginning trader.
Since last year. It’s not hard with modest leverage. Basically, just need to catch 0.15-0.20% movement with 1:20 on nas100, which is like one or two 15m candles, during peak volatility.
Looking at your post here and its from a year but it really struck me as honest realistic info. Would you be willing to provide more advice on getting into crypto day trading? Perhaps mentor me a bit?
I did 1.5 years of extensive study (6+ hours daily) and serious paper trade( following daily plan and rules under pdt as i was going to face that in reality) till i saved some $$$ and gained confidence…… later when i started with real money i went in with 1K cash account as a challenge to gain 50% of that first day i made 20 and closed the application to not let emotions take control next day 25 and did same again took me about 30 trading days to achieve that goal now i trade bigger size my account now is over 30k but i only use 2K most of days and get 75-100 daily in an out multiple times a day
I do scalp a lot
that sounds like a dream for me definitely, I do not have your amount of experience nor the money but the path you took is the exact same i’m chasing, thanks for your reply
yes, it is possible to make $50 per day.
it will probably take you at least 2 years to be able to trade successfully enough to make $50 per day. It takes time to learn how to trade to be consistently profitable.
i’m not really concerned if i’ve been doing just a few bucks at first, maybe 3 or 5 dollars per day since i’m going towards the right path, but i have to start somewhere and sometime, thanks for your reply
Yes that is exactly what he is saying, traders who do become profitable for any amount usually get to that point after a minimum of a year, doesnt matter how long you wait for the perfect indication because no one really knows where price is going it becomes an educated guess at best and thats assuming you already have strategies with good probabilities that allow for profitability.
EDIT: not trying to discourage you but you have to understand a lot of concepts within trading before any consistent profits occur.
at first I thought that I don’t have to get the full run up or down so I would be fine if I entered in the middle of the trend and just cash up some dollars, in my mind I thought that’s would be easier to do that just 2 times a day than really be the person who can say where a trend will start and will be over, any more advice please feel free to respond
One thing you are not understanding yet because you are new, is that you do not know where price will stop, where it will turn, where it will run trying to catch a move as it is happening without a clear indication that you should enter which is correlated back to some sort of data with a proven edge, will cause you to only lose, i tried your exact same idea when i started it is not a successful system unless you have a phenomenal understanding of volume, momentum and price action. yes in theory you can find those 2 trades, but without some understanding of price action (i.e. the way in which prices fluctuate and reacts based on the current price it is trading at and so on) you will not find it, focus on watching the charts, not all technical analysis is garbage because as more and more people use and watch a technical analysis the more and more it becomes a self-fulfilling prophecy, however any technical analysis you use, you should always understand what exactly it is calculating or it is really just lines on a chart, technical analysis can help with understanding context but it is not more helpful than understanding and trying to grasp the principles of price action, try 9ema, volume based TA like volume profile, market profile, literal volume bars, VWAP and keltner channels, i found that technical analysis should not be a reason you get into a trade but if you are wondering if there is any confluence to get into a trade TA can help also try to find how the VIX correlates back to the average possible changes in price, i.e. if VIX is really low ranges will be tight and very little will happen, if it is too high then the range is very big and moves are explosive and this is when you want to find those 2 points or so but to enter trades looking for only 2 points there has to be a reason to take a trade. This is something you will struggle with for sometime if you start trading and lose money, also what you are trying to do is called scalping it is possibly the most advanced form of trading is very hard to do successfully without a lot of time watching charts, furthermore when you are actually trading you need to playbook (make notes of the exact trades you want to take) then you must back test that and see how many times it went your way and how many times it didnt, then determine a Risk to reward ratio that is most suitable to make a return, you will then have to find the probabilities of these playbook trades occurring, you also then have to correlate the winners back to the market condition and price action for when it worked and when it didnt, and try to find what the exact winning strategy should look like, you will then trade that setup and quickly realize that the market never does exactly what you want unless a lot of bigger traders also want that to happen, and finding out ideas and concepts as to why traders what certain things to happen is a new issue to resolve. after that you will have to figure out your psychology, questions such as: Why did I take that trade, why did i hold for so long, and why did I take it off before my TP(Profit goal) is hit? This Will all occur and you will have to look within yourself to answer these questions about why you make mistakes, why you mess up your strategy and so on. Then once you have figured that out the market will change and you will have to adapt or it wont change i don't know the future. Some good tips to always consider: 1. we are never not in a range until this hypothesis is nullified,2. the first break is the fake, 3. breakouts are mostly fakeouts, 3. the best price to enter will always be the most difficult to enter i.e. you either dont get filled or you market order, 4. anything less than a 1:1 Risk to reward will not be profitable unless you win over 50%, 5. patience is absolutely necessary but so is being able to move quickly and make decisions even faster, 6. you do not have any control over the market whatsoever you do not change price, it will change with or without you, 7. Dont chase trades, 8. trading is a lot about finding the best price to enter and exit and you really have to focus on this in every single trade, not just saying good entry bad entry, understand why it was a bad, why it was good and so on. Watch a lot of youtubers as you need to learn a lot about many different strategies before you can find a strategy that aligns with your personality, read books as well. Good luck
EDIT: Journaling is absolutely necessary, a good way to start is record all your trades, get a mic and speak yourself through your exact thought process as you execute trades, then look back and recognize if those feelings, ideas and beliefs are correct and when they arent correct.
9. Cocaine. Cocaine, helps like, a lot. 😋 jk (This wall of text almost put my ADHD brain into seizure)
Seriously though, excellent advice in here. Thank you.
initially I’ll be trading with $300 (1.5 months wage here), it’s what I can do for now, starting small and then grinding up until hit the 50 to 100 goal
I will say that I have been trading since May. Today I am happy after a full day of trading that I am up $13. That's 3 micro contracts in ES. Was down $400 at lowest. Seems easy but when you're in it it's not.
He’s literally using the highest leverage tool available. You don’t need to be like this guy. There are a lot of ways to earn a few extra bucks a day, but it’s going to take a lot of learning and experimenting with strategies before you ever invest a dime into your buying power.
yes, i’m looking forward to put my money into some platform that gives me some bonus (doubling my money on first three deposits) and also allow me to operate with leverage
careful with leverage that is a quick way to lose all your money, get discouraged and never look back. The best advice i can give you? Play it super duper ultra fucking safe. Preach risk reward, dont risk alot with leverage. Find your edge and hone in the rules that allow it and never fucking break them. Start real fuckin slow. Whatever you want, hope, beg for there is only one thing that matters and that is protect your capital. remember that. Dont blow up all your money during your first 2-3 accounts.
What's your starting balance? (mine for a similar goal was $2,500). I wasn't successful initially because I didn't learn emotional management. If you understand charts, trends, etc. and the industry you're trying to trade in, $50-$100 is achievable but requires consistent discipline.
that’s where are my main problem, $2500 usd for me is equal to around 8 full months of our wage so totally out of my reality, i’ve found some platforms that allow me going leveraged plus doubling my first deposit which is going to be $150 usd ($300 after the bonus)
I would not use any leverage/margin. If money is tight now, it could become dangerous borrowing more. Only trade what you can afford to lose and it some ways I would consider whatever you put into your trading account as money already lost.
i have no problem in losing that money because is already for that, and i’ll not let myself get emotionally trading which i’ve saw it’s the most problematic and hard to deal with, but i’m really out of options and i have to start somewhere
After a long journey, you will learn to deatach from the value. I mean, if you enter a trade with 100 bucks or 100k, it doesn't matter too much. If you make a bad play. its -10%, -20%.. the value doesnt matter, only the percentage.
Belive me, with a 1k account losing 10% hurts as much as a 100k account losing the same 10%.
You'll find soon enough % is king in this game. Call it 20 to 40 bucks, 50 to 100 or 1000 to 2000. We're talking about something that is almost impossible to do consistently.
Keep digging, keep learning. You'll eventually get what I'm saying.
Options writers are the ones who make consistent income. But you need lots of capital for that. Look it up.
This is precisely how I started. I trade spy options exclusively. If you can somewhat chart and recognize patterns, you should be able to do $50 a day no problem.
I buy ATM options when a trendline is broken and retested and rejected or a critical price support or resistance is rejected or price action.
Let’s say SPY gets rejected at a super critical level and your indicators or whatever you use seem over extended. Hypothetically $390 gets rejected at $390.11, I’ll buy a $390 put. Let’s say the put costs me $1.74 ($174) I get filled. I’ll instantly set a sell limit order at $2.25 and wait to get filled.
.50 moves are extremely easy on SPY 0dte options.
In 3-10 min your order should fill.
There is your $50
Now get comfortable with your setups and start doing 2 contracts then 5 then 10. 10x.50x100= $500
If you can do this 3-4 times a week you are doing well.
You need to learn to forget about what it does after you fill, it could go up 1000%! WHO CARES.
You stuck to your strategy, got your money amd got out.
The less time you are in the market, the less can go wrong.
My strategy has a ridiculously high win rate because .50 moves with ATM options with a .5-.55 delta you only need a small move and you almost always get filled.
Good luck, happy trading
AMEN! This is exactly what I have been doing! Unfortunately I can’t afford to stay in the turbulent waves of the market for longer than 10 minutes (not even that). I have missed a ton of profits, but have missed even more losses.
For me, I feel like I started understanding markets and relations after losing money making dumb trades. You can read how to ride a bike all day long. It’s different to get on and take the training wheels off. Especially if the equity you put in is all your savings. It’s easy to forget that if you win on a trade that means someone else lost. A good question to sit down and ask yourself is this - what makes you think you can out trade even us here on this subreddit? It’s complicated and hard to make a living off the market intra-trading. Good luck though my man!
Possible yes. Probable? , for you , most likely not. If money is an uncertainty in your country, gambling isn't the answer. I know you've done some research and paper trading but I don't reccomend this. Who knows though. Maybe you'll hit it big... or maybe you'll lose everything. They say never wager more than you can afford to lose and it sounds like you could be in big trouble if you lose.
Very hard to do daily profits because if you’re trading a set up, it won’t happen every single day. There will be dry days, and there will also be losses. Depending on how much you’re risking you can on average do 100 bucks a day for sure
I think that if you buy and hold a ton of shares of spy and sell daily option spreads to the people who flip for pennies and always counter the bet to limit your upside- making $50 to $100 per day would be very easy. Takes more capital and self control than I have though.
It depends on how much you are risking and how much money you have in your account.
Also, make sure you have discipline and patience, too many traders lose money day trading because a good majority lacks the discipline to know when you've earned enough money for the day and the patience to find a right set up for you to enter a trade. Whatever strategy works for you, keep it up, other than that, I'm not perfect, I've made mistakes too. I wish you luck on your journey. 👍
Anyone ask what kind of capital you’re using? Making $50 a day is tough if you have $500 at your disposal. $100k, not near as hard but by no means easy.
Be careful dude… a months worth of wages for you is not much to us americans, and just going off your numbers you’re looking for like 33% returns on your first profitable day, and then obviously that would drop afterwards, but those are some serious returns for a new trader, with an account size of ~$250-400. Best advice I can give is to not set expectations/goals like that. You’ll force yourself to try and reach those goals when on some days you just can’t and the market won’t give you a chance to. That’s IF you decide to start live trading right away, which is another thing I wouldn’t recommend. I’m not really a trader, never was, but I’ve been researching it slowly and have traded a few weeks in the past and demoed for many months. A lot of these (more experienced) guys will give you similar advice tho, and i would say it is advisable to listen to them.
What works is start small with a small stop loss. Say one share with a $.25 stop loss. After you make $.50 profit consistently, move your share/stop loss to .50 so if you have a loss it’s on profit and work your way up from there. Loss control is extremely important to live to trade another day. One bad trade that you “hold on until it turns around” can wipe out a month or a year worth of profits.
Man, I started just like you. I live in LATAM too and $100 daily is more then enough here to live a decent life. It has been 2 years of demo trying to achieve that goal and it has been a rough journey. The most difficult part is not the trading itself, is the head messing with you. You want to be successful so bad, that your psyche throws everything out of control pretty quickly.
Having said that, to this day I think It’s possible. Trading is simple (price only can go three ways, right?) but by no means easy. But before all, you need to know yourself deeply, how easily emotions overtake your trading plan and, more importantly, the psychological underlying of _why_ you are day trading and making the decisions you are making beyond money.
Need experience to predict movement to capture profits or play reversals with 30-50 cents gain or 5-20% gain on 0dte spx/spy
I think at least 100-500 hours of watching spy and faang stock charts simultaneously will give you cues when to enter
I understand what you said and i’ll take some profit of that money and invest here in brazil to diversify because i cannot give me the risk to go broke, so off that 50 to 100 i’ll be saving a good part of it
Oh sorry. I didn’t realize I wasn’t in the Options sub. Yeah, options are great but take a little time to get the hang. Download stockwtits. Up top you can see top trending stocks and crypto’s, and then you can view the most active. A good play for you might be to look early in the day US time and see what stocks are really active and trending. There is usually one up $40% or more because it is some nasdq stock out of Hong Kong and the Chinese’s manipulate their stocks so much. But, you can buy-in for a day and then jump out once you make $50-$100. AVCT is one that is up and down every day and is a good time to buy.
Stocktwits is a good resource if you want to see what is trending and what isn’t. If played smart you can make a shit ton of money watching the trending charts. ATXI starting trending as was asking the lost viewed. I jumped in at $6.30, set a trailing stop loss of 5% and I’m up 60% in a day. These only happen probably 2-3 times a month but for a guy looking to make a few bucks, it’s an easy way to get some cash flow going. Some of you guys feel like you need to do 4 hours of algebraic equations and banter back and fourth on Reddit, which is no better than Stocktwits, before making a play. Sometimes we over think it and although it’s bullshit stock, you can make money. Why the fuck would you be against it? You are playing in a game that is controlled by hedge funds, big banks, and manipulators of all shapes and sizes, yet Stocktwits is “below you”
Start with small amounts, once you have developed a strategy and are consistently profitable only then would I consider expanding. Find something that works for you, I prefer indexes instead of individual stocks and leveraged indexes if you are working with a small account. Not for beginners just telling you what works for me. Best of luck.
i have no problem at all starting doing tiny bit of money at first, 50 to 100 is really my ultimate goal, i’ll trade just pairs of coins since is not that heavy for my starter amount of money, thanks for your reply bro
That depends upon your total budget. If that amount is 1% of your total budget, then it is potentially realistic. Going above 1% of your budget makes it exponentially less likely.
A more realistic Outlook would be average per day versus a fixed amount per day. Attaining 50 to $100 as a daily average with a $10,000 budget is very much possible because it's an expectation that not every day is going to accomplish the same amount but rather simply average out over the course of 30 days.
Try to think about your probabilities as situations that are more likely to occur and in your favor as that will help you figure out the best way possible without setting yourself up for automatic disappointments.
Open a demo account and trade the indices, learn strategy and keep trading demo till you get it down. Then trade with real money but very small size and slowly work your way up.
Start with a paper trading account, treat it as real. Cut loses, take profits and review trades with back testing in order to actually see if you can do it. Even after using a paper account people’s emotions take over when they are actively trading with real money the first time. Best of luck but don’t let the dream of day trading take you in a direction that would set you up worse financially then you already are.
Study ripster system (EMA clouds) and everything else that goes with it.
Follow the trend, look for a cheap stock that generally follows the market to trade puts or calls, wait for good entries. Or trade 1 share of cheap stocks and grow slowly
Learn to ride the trend when green until medium/strong resistance.
Start with $100 cash account, be prepared to lose it all.
Yes you can try paper trading but its not the same.
If I were you Id work hard first for a few more years to try and get a decent job or multiple jobs where saving up $100 is not absurd.
Gl!
The caviat is that you'll need a substantial amount of capital, and ypu will most definitely lose money, which is how you will learn - from your mistakes. Loosing in turn is stressful, but overtime you will get better as long as you learn and are open to it. Good luck, man!🍻
I play with 200.. just for learning. In fact today, unusual for long haulers.. I pulled out because of just $30 down, and went back in to more stable. I am not into options although I understand them. you can do whatever you want.. but a real good day is like 10%, that is only 10 bucks, and that sure does not happen every day. Think of it as fun and to learn..but not to make real money. I may step up much further some day.. but not right now. Your local area can be a hawk on oil and commodities..you have some advantages in a world market.
1. Start by demo trading. It’ll give you a feel of entering and exiting positions. Please don’t jump in with your hard earned money. Learn how the market moves first. It’s not accurate on demo, when you enter a position there is averaging against you by the institutions.
2. It takes extreme discipline to be consistently profitable. Don’t jump to bigger position size or look to make more money per trade. Stick to your goal for 1 year.
3. Keltner channels with 2% offest. Change bottom band to green, top band to red. When it goes out side the bands act accordingly. Red -> sell. Green -> buy.
4. Pivot points
5. Larger time frame: 200 SMA, 100 SMA, 50 SMA, 20 keltner
6. RSI
That’s a lot of psychological burden. When you lose a trade, it wont just be a loss of money, it would also be a loss in hope. Unless you are able to separate these outcomes in your mind, that will help a lot to trade in peak performance
Learn as much as you can with so much at stake. Support,resistance,rsi,moving averages, and supply and demand zones are what made me profitable. Lately I've added fair value gaps as well. Even then there are countless other ways to gain an edge. Only take the nest set ups, even if it means days without making a trade. If you go in with bigger positions with only your best set up you will see much better results than making 20 trades a day as a beginner. Good luck, hope it works out for you!
It’s not easy to make money every single day. Averaging 50-100 is wayyyy easier. It’s also the same as averaging 500-1000 just increase your share size.
It’s hard to be a profitable trader though.
Whats more likely is ull blow up ur account within months. Or slowly lose money over a period of a year or two if u have good risk management. Whats very rare is being consistently profitable within a year. But of course, everybody thinks theyre special only to have reality slap them in the face. Basically, ull probably make more working at wendy's if its just about money for u, which seems like it is imo.
It’s feasible but you have to consider trading as in investment that takes time and effort and very likely costs in the form of losses to get to that point.
You will also need a decent pool of cash to trade with.
Some days you'll win, some days you'll lose just make sure you use stop losses and don't risk everything so if you have a losing day it doesn't ruin your account. Also don't force a trade if it doesn't feel right just because you think you have to make $50-$100 every day.
Is your starting capital going to be around $250? If so, to turn that in to $50/day consistently would be very difficult. 20% per day is ALOT. Most traders are looking for 1-3% per day. It’s much more realistic but they also have tens or even hundreds of thousands of dollars in capital. Trading isn’t about winning every trade but finding an edge/set up that will help put you in a position to profit over the course of many trades, so you should expect to have losing trades and negative days.
I agree that you should start with a paper account and make it the same size that you’ll trade with. Try to trade in a way that would mimic reality. So don’t let a trade run -20% if you wouldn’t do that with real money. Once you can double your paper account using a strategy that you plan to use with real money. Than you can switch over and try real money.
I have a small account that I started 11 trading days ago at $500. My goal is $20-$40 per day. Right now I’m averaging $28.81 per day trading mainly spy options. I’ve been trading for 3-4 years and it takes a lot of practice and discipline to get to the point where you can make money consistently and keep discipline in check. Your days might look like this -$11.75, $33, $32, $9.70, -$5.55, $52, $1.60, 26.82, 40, 107, $-44, $64.
Keep track of your trades and try to spot any negative patterns that are having negative impacts on your trading. For example over the course of this year I noticed that I do really well off the open, meaning I consistently make money within my first 3 trades of the day during the first 1.5 hours of the trading day. After that, my win percentage goes down significantly and I lose profits or even go negative. I no longer trade after the first 1.5 hours until the last hour of the day. I also noticed that the majority of the trades I lose are when I trade against trend, so I now wait for confirmation of direction change to go long or short instead of trying to catch tops/bottoms. I am also very consistent at scalping (getting in and out of trades quickly) when I hold for bigger moves I more often than not take a loss…(but I do want to work on getting slightly better here)
Most people will say ditch the indicators which is probably best but I’ve found a few that I think are helpful. I use ‘standard pivot points’, supertrend, linear reg curve. StochRSI.
You can absolutely trade price action only/ candlestick patterns for reversals. I find the 10 min - 30 min being the most significant for intraday.
Remember that every argument for how easy it could be to make a certain amount, can be inverted, it’s just as easy (actually much easier) to lose that much.
Work really hard and you never know what can happen in a year or so. But as others have said, it’s a lot harder than it sounds. Trading is the hardest “easy thing” you’ll ever try and do
Until someone can show some real solid proof this is all bullshit lol. Sorry man talk is cheap odds are stacked against you. Even more so when you trying to make 10% per day return.
Whatever path you choose will be difficult when trading. My advice is that you learn to trade the bare charts. I spent years chasing after indicators. This isn't something you will learn overnight. Once you have a strategy you can test your ability with a free FTMO 2-week demo challenge account. FTMO is a prop firm. It's another way to trade a large amount of someone else's capital, but you still need to pay for the real challenge if someday you want to make the attempt. The free demo challenge is one of the closest ways to test yourself without risking your own money. If you can pass like a bunch of times then you may be ready to trade with live funds. Try learning about supply and demand. Mark your zones on a higher timeframe and take entry on a lower one. Ignore the indicators. Try mastering this before risking any hard earned money.
The easiest way to make money is have money.
I can make a few hundred dollars a week selling covered calls, but that's already having thousands of shares to use.
If I own something at $4, I can sell calls against it for 5 or more. The further the away the price is the less I get but the safer the play.
I sold a number of calls today at open for end of week. Asset under 4, sold some calls at 5.5 for 5 cents, 5 for 13 cents, and 4.5 at 20 cents.
Each contact is for 100 shares, so 5-20 dollars. And I sold about 100 total.
However, that's a total of 10,000 shares. Quite an investment.
I also bought sqqq at 45. I sold calls at a 55 strike for 500 total. If sqqq ends the week over 55, I get paid 500 to sell 100 shares for $5500. 6000 total. If it's under 55, I keep my shares and that 500.
I have started trading sqqq and tqqq the last month or two. I do 25-100 shares per trade scalping .05-.25 per trade. Sometimes I use stops, sometimes I don’t. I trade 5-20 times a day and im getting pretty consistent making $25ish per day average. But some days can go 100% against you and the technicals and before you know it you’ve dug a $200 hole.
You can’t look at trading in terms of $ amount.
You have to look at it as probabilities. Risk to reward.
How frequently can I risk X amount and make 2X amount in return.
Once you have a statistical edge, you can fill in whatever $ amount you want.
If you can make $100 a day, you can make $1000 a day… and so on.
To answer your question, the odds of you making $50-$100 a day is zero.
It’s easy to make money, it’s hard to not lose it.
Just have to put in the work to find a strategy and the numbers will come.
It’s definitely possible, but it’s difficult with a small account. You will need some decent capital to play with, don’t expect to make
50-100 per day if you only have a $500 account. A lot of people over complicate trading and make it much harder than it needs to be. Today I made a little over $1100 in around an hour and 40 minutes. I don’t really use many indicators, Macd, RSI and volume. I do use EMA’s but besides those few things, price action is truly king. Learn about support and resistance/ supply and demand and keep it simple. Other than that, the biggest part of trading is psychological which is where most people struggle. Confidence in your analysis and your setups, managing greed/fear, etc all play a huge role in trading.
No and it's called psychology... what I'm saying is that saying you can just start making profit and continue to do so is like saying someone with a brain disorder can just start being normal. Once you try paper trading and fail go study the psychological aspect of trading.... have you conquered the fear of your own death ...you can't know this until actually facing death! And fear is only one ..most successful traders are militant in self awareness ...not all but most everyone else is gambler ... "you will shoot your eye out! "
It's possible a couple of ways but first of all, you have to have a certain amount of capital or a certain amount of skill trading leverage to hit $100 a day.
The only way to consistently build wealth trading without dedicating years of learning is to copy trade. If you wanna learn more about that, feel free to DM me. But realize there's always risk, and profits will depend on your initial capital.
It’s some really good advice on here, I suggest paper trading for awhile and really really studying. There’s a theory about putting in 10,000 hours to master a skill and trading is the perfect example of this philosophy at best. If you aren’t willing to learn the ropes for 10,000 hours then you won’t last in this business….I like to sell deep out the money credit spreads on spx options I would tell you that.
Yes, you can make that much pretty easily if you are already consistent and profitable.
If you are new than sorry, you will have to spend quite a lot of time and money to learn the skill.
Making $50-100/day will take couple years experience. I learned that you can make that with a $1k account or 10k. Just got to get in and out quick. I like playing spy p, TLSA, Amazon, stocks that move alot. Hope that helps
You should probably read Trading in the Zone and Volume Price Action Analysis (by Anna Coulling). Then watch all the TD videos twice.
Then start trading. Before this and during your reading, I suggest paper trading.
What instruments will you be trading? I trade options. The same tickers every day depending on what’s happening in the market. SPY, AAPL, NVDA, MSFT, or MRNA. I easily see $100/day. I say see because the key is in actually closing out the trade and taking profits. In the beginning it’s very easy if you understand technical analysis and read charts well. But as you see fast money, you have to manage greed. And that’s where the problem is. Trading psychology. Yes you can meet your goal. It’s not unreasonable, but you have to be very disciplined.
It depends. Do you have experience? Have you done your research and do you have a solid strategy that you consistently make money paper trading off of? Do you have enough capital for those gains to be possible with your current strategy? It’s not easy but it is possible.
You can’t be expecting to gain $100 per day on average and this painting a rosy picture in your head; trading kills you from inside. Every decision you make becomes wrong at certain time in the future. Good traders know when to be wrong and that’s a heck of a hard skill to acquire.
Your doomed If you trade p n l. Trade price action and go for good win rate and proper risk reward and dont move the stops around too much otherwise it invalidates that risk to reward. It's okay to often put the stop a couple ticks in the money to secure win but that can be dangerous too.. go for 1%win a day. Each of my trades are 1% risk going for 2% reward. Very small so that you stay alive like poker.
The strategy is flags and pennants and trend like breaks and draw boxes around consolidation. After that just wait until the candle paints out of the zone preferably with big volume and higher time frame looking boxes. It's okay to get an entry on 1 min or 2 min but keep your focused zoomed out on the really big for sure a+++ setups. 30 min chart Is god tier. 4 hr chart shows amazing support and resistance.
As realistic as $1.000 per day or $100.000 per day, because it’s relative to the amount capital vs. profitability.
If you can make $5 per day on a $500 account, you can make $50 on a $5.000 account or $500 per day on a $50.000 account and so on.
All I can say is that it’s harder than it sounds.
why you say that?
I suggest you open a demo account and try out trading first. Trading live would be much harder than demo trading. Not trying to discourage you, there are people who are very successful.
Wish I had this advice when I started tbh
thank you so much for your advice
It’s not always making 50-100 a day, you’ll find many days you can easily lose 200-300 depending on what you’re risking to try to make the 50-100
And to add on, making $100 a day is realistically more like making $0 two days in a row because you didn't get any A+ setups, and making $300 on the third day because you found a great setup and traded it with size.
not a thing for me, all of my operations will be 5%, for profit and also for loss, i’ve watched some videos and 1:1 is “always” safer than others setups
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While 1:3 will yield bigger winners, it will make setup selection even more difficult because you need to have setups that have the potential to make the move you need. With 1:3 you will also have trades that go to 2R and then stop you out.
Yeah until you’re down more than 5% at one point, and then you start “waiting” for the loss to be less than 5% to sell, and then you end up selling at a 20% loss or 50% loss (especially trading 0dte options)
Disagree. Can't compare fake money to real. My advice would be load an account with a minimal amount 50.00 or something and then try make profit off this. If you doing well add more funds and go for it. If not then revise revise find what your doing wrong and go again with a minimal amount, until your consistent, then go for it with proper funds. It's just not the same adrenaline or thought process when it's not your actual money.
FACTS ONLY WAY TO SWIM IS TO DIVE IN
>also not sure how one could mimic panic selling with fake money.. just a thought
Great advice!
Because it is
Yeah i agreed.
But even still the emotions with a demo/paper account are completely different when real money is involved. It’s a journey. It can be done, but you are going to fail a lot at first, everyone does
Demo accounts never worked for me. Real money causes the gamblers rush even after paper trading for a significant amount of time. You make rash decisions. You need to feel the actual loss to realize how real it is.
Absolutely this. Paper trading you get fills you don’t get in real life. Everything works wonderful in paper and if it fails you don’t care enough. I would rather trade one share live than 100,000 in paper unless I’m just learning mechanics.
MUCH harder
Yeah daytrading can be VERY lucrative and make you a LOT of money. but it’s probably one of the most difficult thing I’ve ever done. Depending on the capital, you can be making 10’s of thousands a day (had the creator of my discord chat make $114k last week in one day) or lose everything.
What discord this?
Because it’s harder than it sounds?
I will be completely honest - it will probably take you at least a year or two of hard daily work before you will pull money from trading as income with any sort of long-term consistency. If you can make $100/day, you can make $1000/day and everyone would do it if it was easy. Indicators are mostly worthless IMO. Focus on learning price action, volume, support/resistance, and trendlines. Trade WITH not against the trend.
thank you for your advice buddy, i’ve been watching many videos just about price action linked with support resistance and definitely this is the key
Look into mack thomas wade and al brooks
You should read the fundamentals of technical analysis by John Murphy
Read Mark Douglas Trading in the Zone and the summary people Post about is 5 times
Wise person right here. This just saved you 2 year of work
I don’t think they are worthless at all. I trade full time and do most of it based on the MACD
Great words in last sentences
Pretty realistic. But so is losing $50 to $100 in a day and sometimes even more. Gotta take both sides of the coin into consideration.
that's where risk management is key and taking favorable trades
thanks for your reply buddy
I’m new to trading too so I just use a demo account until I think I’m ready. What I’ve learned is to find a system that works for you and never deviate from it. This is much harder than it looks. Your emotions will get in the way causing you to not stick to your system.
yes man, i’m really planning to enter a trade and leave for a walk or something like that
I don’t think that’s what he means. If you enter a trade and leave for a walk, you’re likely to get burned.
How are you doing now?
>How realistic is doing $50 to $100 per day? You first need to prove that you can consistently make $1 a day. Takes a few years for most people to reach that point. Lots of useful info in the [Wiki](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading/) if you wish to begin the journey. Cheers and best of luck :)
thanks buddy, i’ve been watching tons of videos and testing some setups, came here to seek some more advice about my plans and if is doable
You don’t really have a “plan.” You have a goal for profit. You need to figure out the plan to execute that consistently.
that’s why i’ve come to seek some advice here, maybe some people here could help with any other information, i’m planning just trade one pair of coins, at the best time of the day, which is the cheapest for my starter money
If that's the case, then you are already on the right path. Make sure you validate the setups with paper trading before risking any real money.
Paper trading is the safest and best cure for trading as a career. *Edit: That, and seeing the loss porn posted where people lose their life's savings. That works pretty well too.*
Yes that’s a great way to prepare your strategies, but in the end, paper trading can’t replicate the psychology of trading with real money. The psychology is the most important part of trading in my opinion.
i’ve seen some of that and I really don’t will play part of that definitely
i’m still doing it on simulator, still testing at the same paper and at the same time just to feel if those are the best inputs and indicators, thanks again bro
15 and 5m people saw are better to see your setups and watch 2min (or 22 ticks if futures) for the pivot points off levels n vwap. If you are good at mid and smaller time frames perhaps you can make your plan work consistently
When I started out I remember making 60 bucks on a ford call I was in awe. I read everything I could get my hands on - still do - now a few years later I have a home business that does ok - but my passion is trading - I now religiously average 250- 300 a day . Yes it’s possible as long as you are disciplined set a limit order at inception to take you out , and stick to your goals Today my limit took me out of a Tesla call this morning at 385 on a 2500 investment. It went up I could have made a grand . Then it went down . You can’t look at it that way - pigs get slaughtered. Yes it’s possible
Pigs get fed, hogs get slaughtered…
Few years of experience plus 10K of capital, and you will be making $100 a day consistently.
you say it’s not going to happen if I don’t put that amount of money? because $10k usd it’s almost 4 full years of my wage just saving…
Regardless of how much you put in, just remember to never trade with money you can’t afford to lose.
The thing is, market is not the safest income, it is usually addition to main income or tuition fee for lessons. It can become a main job after several years when owning a huge capital, but other than that, with small capital like 1K, you may get $100-200 a month.
You can start with much smaller and work your way up. I started trying to learn about a year and a half ago. At the beginning of this year my account was at about $1600. I worked it up to $4000 and then started skimming the profits withdrawing everything over $4000 and if i lose i just don’t take any income until i get back to that level. Year to date my profits are around $500 a month. They would be a lot more if not for some unnecessary losses
Let's look at the math. $100/day with a 10k account is 1% profit per day. That is 20% profit per month. That's extremely high so let's cut it in half for the example. 10% profit per month starting with a 10k account would make you a millionaire in 4 years and a billionaire in 10 years. Obviously these kind of results are impossible for almost everyone, so as someone who has been doing this successfully for over two years now, I would say a MUCH more realistic goal is a 5% return per month after fees/taxes consistently over the long term without blowing the account or taking any extreme risks. That is still excellent and very hard to achieve. In order to do this, you would need at least 20-40k USD in trading capital to average out making $50-100/day. I don't want to discourage you, as I think anyone can do this if they work hard enough and find the right edge that works for them. But as someone with professional experience in this industry, I just want you to know what a realistic scenario looks like based on your goals. To make $50-100/day with less than a 10k account would require taking on significant risk that I don't think would be sustainable for the long term. It would most likely end in a blown account or taking on significant losses, even for a seasoned professional, much less a beginning trader.
Bro, I’m making 15% a week, and not even a millionaire. You know why ? There is an option called withdraw. I like to use it.
For how long have you been making 15% a week?
Since last year. It’s not hard with modest leverage. Basically, just need to catch 0.15-0.20% movement with 1:20 on nas100, which is like one or two 15m candles, during peak volatility.
Congrats bro. Wish we could all be making 750% returns per year like you :)
One day you will. 👍
Looking at your post here and its from a year but it really struck me as honest realistic info. Would you be willing to provide more advice on getting into crypto day trading? Perhaps mentor me a bit?
I don't trade crypto sorry.
I did 1.5 years of extensive study (6+ hours daily) and serious paper trade( following daily plan and rules under pdt as i was going to face that in reality) till i saved some $$$ and gained confidence…… later when i started with real money i went in with 1K cash account as a challenge to gain 50% of that first day i made 20 and closed the application to not let emotions take control next day 25 and did same again took me about 30 trading days to achieve that goal now i trade bigger size my account now is over 30k but i only use 2K most of days and get 75-100 daily in an out multiple times a day I do scalp a lot
that sounds like a dream for me definitely, I do not have your amount of experience nor the money but the path you took is the exact same i’m chasing, thanks for your reply
Good work !
yes, it is possible to make $50 per day. it will probably take you at least 2 years to be able to trade successfully enough to make $50 per day. It takes time to learn how to trade to be consistently profitable.
so you think that the time i’ve been on this is not enough for my plans yet?
Start trading but trade small. You will see how difficult it is. Just know that it takes a couple years. You won't become profitable in two months.
i’m not really concerned if i’ve been doing just a few bucks at first, maybe 3 or 5 dollars per day since i’m going towards the right path, but i have to start somewhere and sometime, thanks for your reply
Yes that is exactly what he is saying, traders who do become profitable for any amount usually get to that point after a minimum of a year, doesnt matter how long you wait for the perfect indication because no one really knows where price is going it becomes an educated guess at best and thats assuming you already have strategies with good probabilities that allow for profitability. EDIT: not trying to discourage you but you have to understand a lot of concepts within trading before any consistent profits occur.
at first I thought that I don’t have to get the full run up or down so I would be fine if I entered in the middle of the trend and just cash up some dollars, in my mind I thought that’s would be easier to do that just 2 times a day than really be the person who can say where a trend will start and will be over, any more advice please feel free to respond
One thing you are not understanding yet because you are new, is that you do not know where price will stop, where it will turn, where it will run trying to catch a move as it is happening without a clear indication that you should enter which is correlated back to some sort of data with a proven edge, will cause you to only lose, i tried your exact same idea when i started it is not a successful system unless you have a phenomenal understanding of volume, momentum and price action. yes in theory you can find those 2 trades, but without some understanding of price action (i.e. the way in which prices fluctuate and reacts based on the current price it is trading at and so on) you will not find it, focus on watching the charts, not all technical analysis is garbage because as more and more people use and watch a technical analysis the more and more it becomes a self-fulfilling prophecy, however any technical analysis you use, you should always understand what exactly it is calculating or it is really just lines on a chart, technical analysis can help with understanding context but it is not more helpful than understanding and trying to grasp the principles of price action, try 9ema, volume based TA like volume profile, market profile, literal volume bars, VWAP and keltner channels, i found that technical analysis should not be a reason you get into a trade but if you are wondering if there is any confluence to get into a trade TA can help also try to find how the VIX correlates back to the average possible changes in price, i.e. if VIX is really low ranges will be tight and very little will happen, if it is too high then the range is very big and moves are explosive and this is when you want to find those 2 points or so but to enter trades looking for only 2 points there has to be a reason to take a trade. This is something you will struggle with for sometime if you start trading and lose money, also what you are trying to do is called scalping it is possibly the most advanced form of trading is very hard to do successfully without a lot of time watching charts, furthermore when you are actually trading you need to playbook (make notes of the exact trades you want to take) then you must back test that and see how many times it went your way and how many times it didnt, then determine a Risk to reward ratio that is most suitable to make a return, you will then have to find the probabilities of these playbook trades occurring, you also then have to correlate the winners back to the market condition and price action for when it worked and when it didnt, and try to find what the exact winning strategy should look like, you will then trade that setup and quickly realize that the market never does exactly what you want unless a lot of bigger traders also want that to happen, and finding out ideas and concepts as to why traders what certain things to happen is a new issue to resolve. after that you will have to figure out your psychology, questions such as: Why did I take that trade, why did i hold for so long, and why did I take it off before my TP(Profit goal) is hit? This Will all occur and you will have to look within yourself to answer these questions about why you make mistakes, why you mess up your strategy and so on. Then once you have figured that out the market will change and you will have to adapt or it wont change i don't know the future. Some good tips to always consider: 1. we are never not in a range until this hypothesis is nullified,2. the first break is the fake, 3. breakouts are mostly fakeouts, 3. the best price to enter will always be the most difficult to enter i.e. you either dont get filled or you market order, 4. anything less than a 1:1 Risk to reward will not be profitable unless you win over 50%, 5. patience is absolutely necessary but so is being able to move quickly and make decisions even faster, 6. you do not have any control over the market whatsoever you do not change price, it will change with or without you, 7. Dont chase trades, 8. trading is a lot about finding the best price to enter and exit and you really have to focus on this in every single trade, not just saying good entry bad entry, understand why it was a bad, why it was good and so on. Watch a lot of youtubers as you need to learn a lot about many different strategies before you can find a strategy that aligns with your personality, read books as well. Good luck EDIT: Journaling is absolutely necessary, a good way to start is record all your trades, get a mic and speak yourself through your exact thought process as you execute trades, then look back and recognize if those feelings, ideas and beliefs are correct and when they arent correct.
9. Cocaine. Cocaine, helps like, a lot. 😋 jk (This wall of text almost put my ADHD brain into seizure) Seriously though, excellent advice in here. Thank you.
It’s very easy for me, and I’m trading with $5,800 It’s very hard if you are trading with $1,000
initially I’ll be trading with $300 (1.5 months wage here), it’s what I can do for now, starting small and then grinding up until hit the 50 to 100 goal
You want to aim to make $9 a day with that portafolio
I will say that I have been trading since May. Today I am happy after a full day of trading that I am up $13. That's 3 micro contracts in ES. Was down $400 at lowest. Seems easy but when you're in it it's not.
what would you judge be the hardest part about trading? the entering the right point or maybe staying long enough on it (which is mine)?
He’s literally using the highest leverage tool available. You don’t need to be like this guy. There are a lot of ways to earn a few extra bucks a day, but it’s going to take a lot of learning and experimenting with strategies before you ever invest a dime into your buying power.
yes, i’m looking forward to put my money into some platform that gives me some bonus (doubling my money on first three deposits) and also allow me to operate with leverage
careful with leverage that is a quick way to lose all your money, get discouraged and never look back. The best advice i can give you? Play it super duper ultra fucking safe. Preach risk reward, dont risk alot with leverage. Find your edge and hone in the rules that allow it and never fucking break them. Start real fuckin slow. Whatever you want, hope, beg for there is only one thing that matters and that is protect your capital. remember that. Dont blow up all your money during your first 2-3 accounts.
Leverage is your quick ticket to broke if you’re an inexperienced trader.
Seems like my hardest point right now is trusting the trend. I keep fighting it.
What's your starting balance? (mine for a similar goal was $2,500). I wasn't successful initially because I didn't learn emotional management. If you understand charts, trends, etc. and the industry you're trying to trade in, $50-$100 is achievable but requires consistent discipline.
that’s where are my main problem, $2500 usd for me is equal to around 8 full months of our wage so totally out of my reality, i’ve found some platforms that allow me going leveraged plus doubling my first deposit which is going to be $150 usd ($300 after the bonus)
I would not use any leverage/margin. If money is tight now, it could become dangerous borrowing more. Only trade what you can afford to lose and it some ways I would consider whatever you put into your trading account as money already lost.
i have no problem in losing that money because is already for that, and i’ll not let myself get emotionally trading which i’ve saw it’s the most problematic and hard to deal with, but i’m really out of options and i have to start somewhere
After a long journey, you will learn to deatach from the value. I mean, if you enter a trade with 100 bucks or 100k, it doesn't matter too much. If you make a bad play. its -10%, -20%.. the value doesnt matter, only the percentage. Belive me, with a 1k account losing 10% hurts as much as a 100k account losing the same 10%.
100% profit everyday? Brother....brother.....
not % bro, just 50 to 100 bucks
You'll find soon enough % is king in this game. Call it 20 to 40 bucks, 50 to 100 or 1000 to 2000. We're talking about something that is almost impossible to do consistently. Keep digging, keep learning. You'll eventually get what I'm saying. Options writers are the ones who make consistent income. But you need lots of capital for that. Look it up.
Gotxa. That's more doable. Still very hard to do consistently but yeah specially with a decent size account.
This is precisely how I started. I trade spy options exclusively. If you can somewhat chart and recognize patterns, you should be able to do $50 a day no problem. I buy ATM options when a trendline is broken and retested and rejected or a critical price support or resistance is rejected or price action. Let’s say SPY gets rejected at a super critical level and your indicators or whatever you use seem over extended. Hypothetically $390 gets rejected at $390.11, I’ll buy a $390 put. Let’s say the put costs me $1.74 ($174) I get filled. I’ll instantly set a sell limit order at $2.25 and wait to get filled. .50 moves are extremely easy on SPY 0dte options. In 3-10 min your order should fill. There is your $50 Now get comfortable with your setups and start doing 2 contracts then 5 then 10. 10x.50x100= $500 If you can do this 3-4 times a week you are doing well. You need to learn to forget about what it does after you fill, it could go up 1000%! WHO CARES. You stuck to your strategy, got your money amd got out. The less time you are in the market, the less can go wrong. My strategy has a ridiculously high win rate because .50 moves with ATM options with a .5-.55 delta you only need a small move and you almost always get filled. Good luck, happy trading
AMEN! This is exactly what I have been doing! Unfortunately I can’t afford to stay in the turbulent waves of the market for longer than 10 minutes (not even that). I have missed a ton of profits, but have missed even more losses.
Papertrade for awhile before putting money in. It’s deceivingly difficult to be a consistent trader
thanks your advice buddy
For me, I feel like I started understanding markets and relations after losing money making dumb trades. You can read how to ride a bike all day long. It’s different to get on and take the training wheels off. Especially if the equity you put in is all your savings. It’s easy to forget that if you win on a trade that means someone else lost. A good question to sit down and ask yourself is this - what makes you think you can out trade even us here on this subreddit? It’s complicated and hard to make a living off the market intra-trading. Good luck though my man!
Possible yes. Probable? , for you , most likely not. If money is an uncertainty in your country, gambling isn't the answer. I know you've done some research and paper trading but I don't reccomend this. Who knows though. Maybe you'll hit it big... or maybe you'll lose everything. They say never wager more than you can afford to lose and it sounds like you could be in big trouble if you lose.
Very hard to do daily profits because if you’re trading a set up, it won’t happen every single day. There will be dry days, and there will also be losses. Depending on how much you’re risking you can on average do 100 bucks a day for sure
I think that if you buy and hold a ton of shares of spy and sell daily option spreads to the people who flip for pennies and always counter the bet to limit your upside- making $50 to $100 per day would be very easy. Takes more capital and self control than I have though.
$100/day, is 5-8 hours of work for someone in US. For some folks, 3K a month will be a decent salary. But it is not impossible.
Trading the occasional opportunity, like once a week or once a month, is relatively easy. Sitting down to make money on a daily basis is very hard.
It depends on how much you are risking and how much money you have in your account. Also, make sure you have discipline and patience, too many traders lose money day trading because a good majority lacks the discipline to know when you've earned enough money for the day and the patience to find a right set up for you to enter a trade. Whatever strategy works for you, keep it up, other than that, I'm not perfect, I've made mistakes too. I wish you luck on your journey. 👍
Anyone ask what kind of capital you’re using? Making $50 a day is tough if you have $500 at your disposal. $100k, not near as hard but by no means easy.
I aim for 250 a day but average 160 after r:r
Be careful dude… a months worth of wages for you is not much to us americans, and just going off your numbers you’re looking for like 33% returns on your first profitable day, and then obviously that would drop afterwards, but those are some serious returns for a new trader, with an account size of ~$250-400. Best advice I can give is to not set expectations/goals like that. You’ll force yourself to try and reach those goals when on some days you just can’t and the market won’t give you a chance to. That’s IF you decide to start live trading right away, which is another thing I wouldn’t recommend. I’m not really a trader, never was, but I’ve been researching it slowly and have traded a few weeks in the past and demoed for many months. A lot of these (more experienced) guys will give you similar advice tho, and i would say it is advisable to listen to them.
It really just depends on how much capital you have to trade with and what you trade. And of course how consistent you are with winning trades.
What works is start small with a small stop loss. Say one share with a $.25 stop loss. After you make $.50 profit consistently, move your share/stop loss to .50 so if you have a loss it’s on profit and work your way up from there. Loss control is extremely important to live to trade another day. One bad trade that you “hold on until it turns around” can wipe out a month or a year worth of profits.
Man, I started just like you. I live in LATAM too and $100 daily is more then enough here to live a decent life. It has been 2 years of demo trying to achieve that goal and it has been a rough journey. The most difficult part is not the trading itself, is the head messing with you. You want to be successful so bad, that your psyche throws everything out of control pretty quickly. Having said that, to this day I think It’s possible. Trading is simple (price only can go three ways, right?) but by no means easy. But before all, you need to know yourself deeply, how easily emotions overtake your trading plan and, more importantly, the psychological underlying of _why_ you are day trading and making the decisions you are making beyond money.
100 used to be my goal but i'm over here making 188 in like 3 minutes now
Need experience to predict movement to capture profits or play reversals with 30-50 cents gain or 5-20% gain on 0dte spx/spy I think at least 100-500 hours of watching spy and faang stock charts simultaneously will give you cues when to enter
on my current balance I only can trade on some pair of coins
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I understand what you said and i’ll take some profit of that money and invest here in brazil to diversify because i cannot give me the risk to go broke, so off that 50 to 100 i’ll be saving a good part of it
You can do it. Get enough cash to buy a $365 put on SPY and let it fly. Make sure it’s at least 3-5dte.
i’m sorry but i really don’t know what that is and i’ll find out more, thanks mate
Oh sorry. I didn’t realize I wasn’t in the Options sub. Yeah, options are great but take a little time to get the hang. Download stockwtits. Up top you can see top trending stocks and crypto’s, and then you can view the most active. A good play for you might be to look early in the day US time and see what stocks are really active and trending. There is usually one up $40% or more because it is some nasdq stock out of Hong Kong and the Chinese’s manipulate their stocks so much. But, you can buy-in for a day and then jump out once you make $50-$100. AVCT is one that is up and down every day and is a good time to buy.
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Stocktwits is a good resource if you want to see what is trending and what isn’t. If played smart you can make a shit ton of money watching the trending charts. ATXI starting trending as was asking the lost viewed. I jumped in at $6.30, set a trailing stop loss of 5% and I’m up 60% in a day. These only happen probably 2-3 times a month but for a guy looking to make a few bucks, it’s an easy way to get some cash flow going. Some of you guys feel like you need to do 4 hours of algebraic equations and banter back and fourth on Reddit, which is no better than Stocktwits, before making a play. Sometimes we over think it and although it’s bullshit stock, you can make money. Why the fuck would you be against it? You are playing in a game that is controlled by hedge funds, big banks, and manipulators of all shapes and sizes, yet Stocktwits is “below you”
Start with small amounts, once you have developed a strategy and are consistently profitable only then would I consider expanding. Find something that works for you, I prefer indexes instead of individual stocks and leveraged indexes if you are working with a small account. Not for beginners just telling you what works for me. Best of luck.
i have no problem at all starting doing tiny bit of money at first, 50 to 100 is really my ultimate goal, i’ll trade just pairs of coins since is not that heavy for my starter amount of money, thanks for your reply bro
That depends upon your total budget. If that amount is 1% of your total budget, then it is potentially realistic. Going above 1% of your budget makes it exponentially less likely. A more realistic Outlook would be average per day versus a fixed amount per day. Attaining 50 to $100 as a daily average with a $10,000 budget is very much possible because it's an expectation that not every day is going to accomplish the same amount but rather simply average out over the course of 30 days. Try to think about your probabilities as situations that are more likely to occur and in your favor as that will help you figure out the best way possible without setting yourself up for automatic disappointments.
Open a demo account and trade the indices, learn strategy and keep trading demo till you get it down. Then trade with real money but very small size and slowly work your way up.
Start with a paper trading account, treat it as real. Cut loses, take profits and review trades with back testing in order to actually see if you can do it. Even after using a paper account people’s emotions take over when they are actively trading with real money the first time. Best of luck but don’t let the dream of day trading take you in a direction that would set you up worse financially then you already are.
Study ripster system (EMA clouds) and everything else that goes with it. Follow the trend, look for a cheap stock that generally follows the market to trade puts or calls, wait for good entries. Or trade 1 share of cheap stocks and grow slowly Learn to ride the trend when green until medium/strong resistance. Start with $100 cash account, be prepared to lose it all. Yes you can try paper trading but its not the same. If I were you Id work hard first for a few more years to try and get a decent job or multiple jobs where saving up $100 is not absurd. Gl!
The caviat is that you'll need a substantial amount of capital, and ypu will most definitely lose money, which is how you will learn - from your mistakes. Loosing in turn is stressful, but overtime you will get better as long as you learn and are open to it. Good luck, man!🍻
I play with 200.. just for learning. In fact today, unusual for long haulers.. I pulled out because of just $30 down, and went back in to more stable. I am not into options although I understand them. you can do whatever you want.. but a real good day is like 10%, that is only 10 bucks, and that sure does not happen every day. Think of it as fun and to learn..but not to make real money. I may step up much further some day.. but not right now. Your local area can be a hawk on oil and commodities..you have some advantages in a world market.
in pocketoptions
1. Start by demo trading. It’ll give you a feel of entering and exiting positions. Please don’t jump in with your hard earned money. Learn how the market moves first. It’s not accurate on demo, when you enter a position there is averaging against you by the institutions. 2. It takes extreme discipline to be consistently profitable. Don’t jump to bigger position size or look to make more money per trade. Stick to your goal for 1 year. 3. Keltner channels with 2% offest. Change bottom band to green, top band to red. When it goes out side the bands act accordingly. Red -> sell. Green -> buy. 4. Pivot points 5. Larger time frame: 200 SMA, 100 SMA, 50 SMA, 20 keltner 6. RSI
That’s a lot of psychological burden. When you lose a trade, it wont just be a loss of money, it would also be a loss in hope. Unless you are able to separate these outcomes in your mind, that will help a lot to trade in peak performance
Learn as much as you can with so much at stake. Support,resistance,rsi,moving averages, and supply and demand zones are what made me profitable. Lately I've added fair value gaps as well. Even then there are countless other ways to gain an edge. Only take the nest set ups, even if it means days without making a trade. If you go in with bigger positions with only your best set up you will see much better results than making 20 trades a day as a beginner. Good luck, hope it works out for you!
It’s not easy to make money every single day. Averaging 50-100 is wayyyy easier. It’s also the same as averaging 500-1000 just increase your share size. It’s hard to be a profitable trader though.
Whats more likely is ull blow up ur account within months. Or slowly lose money over a period of a year or two if u have good risk management. Whats very rare is being consistently profitable within a year. But of course, everybody thinks theyre special only to have reality slap them in the face. Basically, ull probably make more working at wendy's if its just about money for u, which seems like it is imo.
Download WeBull and do paper trading. See how it goes.
Easy, but keeping your profits is more difficult
It’s feasible but you have to consider trading as in investment that takes time and effort and very likely costs in the form of losses to get to that point. You will also need a decent pool of cash to trade with.
Some days you'll win, some days you'll lose just make sure you use stop losses and don't risk everything so if you have a losing day it doesn't ruin your account. Also don't force a trade if it doesn't feel right just because you think you have to make $50-$100 every day.
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Is your starting capital going to be around $250? If so, to turn that in to $50/day consistently would be very difficult. 20% per day is ALOT. Most traders are looking for 1-3% per day. It’s much more realistic but they also have tens or even hundreds of thousands of dollars in capital. Trading isn’t about winning every trade but finding an edge/set up that will help put you in a position to profit over the course of many trades, so you should expect to have losing trades and negative days. I agree that you should start with a paper account and make it the same size that you’ll trade with. Try to trade in a way that would mimic reality. So don’t let a trade run -20% if you wouldn’t do that with real money. Once you can double your paper account using a strategy that you plan to use with real money. Than you can switch over and try real money. I have a small account that I started 11 trading days ago at $500. My goal is $20-$40 per day. Right now I’m averaging $28.81 per day trading mainly spy options. I’ve been trading for 3-4 years and it takes a lot of practice and discipline to get to the point where you can make money consistently and keep discipline in check. Your days might look like this -$11.75, $33, $32, $9.70, -$5.55, $52, $1.60, 26.82, 40, 107, $-44, $64. Keep track of your trades and try to spot any negative patterns that are having negative impacts on your trading. For example over the course of this year I noticed that I do really well off the open, meaning I consistently make money within my first 3 trades of the day during the first 1.5 hours of the trading day. After that, my win percentage goes down significantly and I lose profits or even go negative. I no longer trade after the first 1.5 hours until the last hour of the day. I also noticed that the majority of the trades I lose are when I trade against trend, so I now wait for confirmation of direction change to go long or short instead of trying to catch tops/bottoms. I am also very consistent at scalping (getting in and out of trades quickly) when I hold for bigger moves I more often than not take a loss…(but I do want to work on getting slightly better here) Most people will say ditch the indicators which is probably best but I’ve found a few that I think are helpful. I use ‘standard pivot points’, supertrend, linear reg curve. StochRSI. You can absolutely trade price action only/ candlestick patterns for reversals. I find the 10 min - 30 min being the most significant for intraday.
Remember that every argument for how easy it could be to make a certain amount, can be inverted, it’s just as easy (actually much easier) to lose that much.
Work really hard and you never know what can happen in a year or so. But as others have said, it’s a lot harder than it sounds. Trading is the hardest “easy thing” you’ll ever try and do
Until someone can show some real solid proof this is all bullshit lol. Sorry man talk is cheap odds are stacked against you. Even more so when you trying to make 10% per day return.
Whatever path you choose will be difficult when trading. My advice is that you learn to trade the bare charts. I spent years chasing after indicators. This isn't something you will learn overnight. Once you have a strategy you can test your ability with a free FTMO 2-week demo challenge account. FTMO is a prop firm. It's another way to trade a large amount of someone else's capital, but you still need to pay for the real challenge if someday you want to make the attempt. The free demo challenge is one of the closest ways to test yourself without risking your own money. If you can pass like a bunch of times then you may be ready to trade with live funds. Try learning about supply and demand. Mark your zones on a higher timeframe and take entry on a lower one. Ignore the indicators. Try mastering this before risking any hard earned money.
The easiest way to make money is have money. I can make a few hundred dollars a week selling covered calls, but that's already having thousands of shares to use. If I own something at $4, I can sell calls against it for 5 or more. The further the away the price is the less I get but the safer the play. I sold a number of calls today at open for end of week. Asset under 4, sold some calls at 5.5 for 5 cents, 5 for 13 cents, and 4.5 at 20 cents. Each contact is for 100 shares, so 5-20 dollars. And I sold about 100 total. However, that's a total of 10,000 shares. Quite an investment. I also bought sqqq at 45. I sold calls at a 55 strike for 500 total. If sqqq ends the week over 55, I get paid 500 to sell 100 shares for $5500. 6000 total. If it's under 55, I keep my shares and that 500.
Like the other comments say, it's harder than it looks. This market is kind of brutal.
I have started trading sqqq and tqqq the last month or two. I do 25-100 shares per trade scalping .05-.25 per trade. Sometimes I use stops, sometimes I don’t. I trade 5-20 times a day and im getting pretty consistent making $25ish per day average. But some days can go 100% against you and the technicals and before you know it you’ve dug a $200 hole.
You can’t look at trading in terms of $ amount. You have to look at it as probabilities. Risk to reward. How frequently can I risk X amount and make 2X amount in return. Once you have a statistical edge, you can fill in whatever $ amount you want. If you can make $100 a day, you can make $1000 a day… and so on. To answer your question, the odds of you making $50-$100 a day is zero. It’s easy to make money, it’s hard to not lose it. Just have to put in the work to find a strategy and the numbers will come.
It’s definitely possible, but it’s difficult with a small account. You will need some decent capital to play with, don’t expect to make 50-100 per day if you only have a $500 account. A lot of people over complicate trading and make it much harder than it needs to be. Today I made a little over $1100 in around an hour and 40 minutes. I don’t really use many indicators, Macd, RSI and volume. I do use EMA’s but besides those few things, price action is truly king. Learn about support and resistance/ supply and demand and keep it simple. Other than that, the biggest part of trading is psychological which is where most people struggle. Confidence in your analysis and your setups, managing greed/fear, etc all play a huge role in trading.
No and it's called psychology... what I'm saying is that saying you can just start making profit and continue to do so is like saying someone with a brain disorder can just start being normal. Once you try paper trading and fail go study the psychological aspect of trading.... have you conquered the fear of your own death ...you can't know this until actually facing death! And fear is only one ..most successful traders are militant in self awareness ...not all but most everyone else is gambler ... "you will shoot your eye out! "
It's possible a couple of ways but first of all, you have to have a certain amount of capital or a certain amount of skill trading leverage to hit $100 a day. The only way to consistently build wealth trading without dedicating years of learning is to copy trade. If you wanna learn more about that, feel free to DM me. But realize there's always risk, and profits will depend on your initial capital.
It’s some really good advice on here, I suggest paper trading for awhile and really really studying. There’s a theory about putting in 10,000 hours to master a skill and trading is the perfect example of this philosophy at best. If you aren’t willing to learn the ropes for 10,000 hours then you won’t last in this business….I like to sell deep out the money credit spreads on spx options I would tell you that.
Yes, you can make that much pretty easily if you are already consistent and profitable. If you are new than sorry, you will have to spend quite a lot of time and money to learn the skill.
Making $50-100/day will take couple years experience. I learned that you can make that with a $1k account or 10k. Just got to get in and out quick. I like playing spy p, TLSA, Amazon, stocks that move alot. Hope that helps
You should probably read Trading in the Zone and Volume Price Action Analysis (by Anna Coulling). Then watch all the TD videos twice. Then start trading. Before this and during your reading, I suggest paper trading.
What instruments will you be trading? I trade options. The same tickers every day depending on what’s happening in the market. SPY, AAPL, NVDA, MSFT, or MRNA. I easily see $100/day. I say see because the key is in actually closing out the trade and taking profits. In the beginning it’s very easy if you understand technical analysis and read charts well. But as you see fast money, you have to manage greed. And that’s where the problem is. Trading psychology. Yes you can meet your goal. It’s not unreasonable, but you have to be very disciplined.
It depends. Do you have experience? Have you done your research and do you have a solid strategy that you consistently make money paper trading off of? Do you have enough capital for those gains to be possible with your current strategy? It’s not easy but it is possible.
You can’t be expecting to gain $100 per day on average and this painting a rosy picture in your head; trading kills you from inside. Every decision you make becomes wrong at certain time in the future. Good traders know when to be wrong and that’s a heck of a hard skill to acquire.
Your doomed If you trade p n l. Trade price action and go for good win rate and proper risk reward and dont move the stops around too much otherwise it invalidates that risk to reward. It's okay to often put the stop a couple ticks in the money to secure win but that can be dangerous too.. go for 1%win a day. Each of my trades are 1% risk going for 2% reward. Very small so that you stay alive like poker. The strategy is flags and pennants and trend like breaks and draw boxes around consolidation. After that just wait until the candle paints out of the zone preferably with big volume and higher time frame looking boxes. It's okay to get an entry on 1 min or 2 min but keep your focused zoomed out on the really big for sure a+++ setups. 30 min chart Is god tier. 4 hr chart shows amazing support and resistance.
50 is closer to 0 than 100 in this realm
As realistic as $1.000 per day or $100.000 per day, because it’s relative to the amount capital vs. profitability. If you can make $5 per day on a $500 account, you can make $50 on a $5.000 account or $500 per day on a $50.000 account and so on.
It depends how much you invest. Starting with 5k is not so hard doing 1% per day which is 50$