How much money do you need before you can day trade full time? I'm 27years old and I have 88k saved up so far. At the end of this year I'll have 100k.
Is 50k enough to day trade with and make 30-40k per year? Or is that way too high of a return?
>>1130959
bump
>>1130976
bumpin'
>>1130959
Bump
>>1130959
There is a japanese guy made 250 millions with just 13k.
>>1130959
buy ethereum and you will be a millionaire next week easily.
>>1130959
50k is enough. You can get that leveraged a few times by your broker and have a couple hundred thousand to move every day. You could even join a shady prop shop like T3 and get leveraged like 10x or something for a profit split
>>1131008
>pumpain
Is day trading really a good way of making money? Seems like a good way to go broke fast. What kind of accounting/finance knowledge do you really need to succeed? I'm an Acct Major.
Do you faggots actually think you can escape your wagecuckery with this little league shit?
>>1131032
It's been done before, chance may be slim but its better to die on your feet than live on your knees.
>>1131029
It's a good way to make money, but anyone worth their salt who isn't trying to sell you something will tell you daytrading is a 12-18 month commitment to basically making no money and potentially losing your bank. It takes a long time to develop the discipline necessary to deal with the P&L swings...hence the popularity of pro poker players in good prop shops.
There isn't really one background that's best. Having finance/accounting knowledge is good, but daytrading is mostly about having some kind of system for finding quantitative opportunities...math/CS is therefore also useful. Athletes are popular for a similar reason poker players are: the ability to perform under intense pressure. Some kind of mix of these qualities is probably optimal
>>1131033
I suppose you are not joking? But if you dont know what's leverage you are pretty fucking far from making money thru trading. do not mess with your 88k atm lol
For you probably better start just getting familiar with the markets overall
>>1131050
This anon is right. Paper trade first, and if you can't do that, maybe this isn't for you.
Btw Warren Buffet is a billionaire and doesn't daytrade
>>1131060
warren buffet bought a ton of fucking textiles when they'd do 15% regularly
>>1131044
what about pattern recognition skills? i'm the kind of guy that can figure out a given system fairly quickly. i learn new stuff very fast.
this matter at all?
>>1131050
What is an effective way of becoming more familiar with the market?
why is anyone telling him to leverage his 88k?
at max a beginner shouldnt be playing with all their money, thats russian roulette.
maybe play with 10k max to get the hang of things.... buy some stocks
>>1131174
It sure can help. The markets are simply a complex system that takes a company's revenue, costs, competition, world events at a micro and macro level, and tries to turn it into one fair price.
Cutting through the noise to see real signals that indicate a price change is what is all about.
The problem is that you competing with quants who are smarter than you and have the ability to dictate the market. You are simply trying to surf the waves as they move through.
Also, don't listen to these fuck telling you to gamble it all. Put half in a diverse ETF like VTI and don't touch it until you retire. Trade with what you are willing to lose.
>>1130959
Do you know what Kelly criterion means?
If not, look it up. You're welcome.
stop worrying about the potential lack of funds and start worrying about the difinite lack of trading knowledge that you have. by ehat you have said in here, you dont even havr basic knowledge of basic terms. if you knew about each market, youd know how much wouldbe required for each.
>>1131366
Edge X Odds = max risk % of "bankroll per bet".
This fucking formula made me a shitload of money over the years as well as keeping me out of losing a shitload of money.
>>1131042
chances are you will just lose your shit and be back on your knees
>>1131042
>its better to die on your feet than live on your knees.
Ask Aubrey McClendon about that sir.
>>1132995
But how do you know your edge?
>>1133014
You will know after a few hundred trades.
