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Making $60-100 a day trading
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Thread replies: 26
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I was wondering if anyone thinks this is plausible. I have some 20,000$ I am willing to invest at a certain high risk.

It might not seem as much, but I am not in the US or any other economic superpower for that matter. In my country, the minimum wage is <600 a month, so netting $60-100 a day would put me in a very interesting position, and obviously, I could then come to make more, once I got my shit straight.

Also, another question. Is investing on top gainers (ones which you believe are going to spike) at around 5% and just riding the monetary gains wave? UA's spike was pretty predictable. It had been endorsed by Cramer + it was earnings day.
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>>1067427
You don't need to bump so quickly, this isn't a fast board.
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>>1067421
don't know much about day trading, but take 1-2 grand of that and put it in VOO and hold it for like 5 years and let it happen m8.
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>>1067470
>VOO
wouldnt you lose a ton of that money if it doesnt keep moving up the whole time because etfs compound?
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>>1067421

are you from Romania?

programmers there make way better than average salary of 600, they make upwards of 1300 ER

tl;dr get into programming, software development and be part of the tech revolution in the country friend
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>>1067421

It's entirely plausible with active trading but You'd be better off doing traditional investing. Everything is dirt cheap right now, so just start buying up blue chips.
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>>1067421
learning how to trade takes many years and lots of money. because people do not make as much in your country, it will be harder for you to make your losses back than it would be elsewhere. and you will lose money. expect to lose all of your 20k followed by years of losing your paycheck.
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>>1067421
also to answer your other question: is following Cramer's picks and/or going long on earnings day a sustainable strategy that you can repeat every day/week for years on end? no. so it is bad.
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Buy Bitcoin whenever some big news outlets declare it dead
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I make $500 a day(average) off 20k a day. You only need a 2.5% movement which most stocks do daily anyway even if they close down.
Though you'll have to wait 3-4 days if that's all the capital you have for funds to settle.
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>>1068735
Can you go into detail more?

What about days the market is down?

I got about 10k I could play with
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>>1067874
I'm not from Romania. I am from Portugal. The way this country is working irks me immensrly right now. I am actually studying Software Engineering, but the job prospects are retarded or inexistent, at least here in this country. Our low wages are probably going to be making us the India of Europe. It also pains me to know that I'll be working my ass off 8 hours a day for what, in the end, is a tiny fraction of the gains to which I contributed tons. I'd much rather be earning $60-100 a day trading than $50ish working 8 hours a day, regardless of the risk.

Also, that $20,000 isn't the entirety of my capital. It's just what I am willing to put forth for this, initially. I'd have a $30,000 safety net and a STEM master's, so I shouldn't be completely fucked even if my entire account is zeroed. I also have a house and a car of my own. I also don't owe anyone anything.

I have been paper trading lately, but I can't really do it during the more opportune moments of the day, (at market open, etc) since I have a ton of work to take care of. I essentially dedicate the entirety of the weekend to learning about the stock market.

>>1068202
Well, as long as it is bringing in the money at a consistent rate, I'd do it. In the end, all I want is to not slave myself off to some rich fuck for pebbles.

Ideally, I'd BE said rich guy. I intend on, once a fair share of money lands in my pocket, opening a business in the IT sector, as it is still a fresh market here in Portugal.
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>>1068740
Well, it's more of an average. There have been days I've made 3k off 20k and days I've gotten out only making $16 total because it never moved. Even red days happen. The key is not holding for anything and not playing earnings reports. If it's a day trade you shouldn't have any shares at coffee close.
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>>1068754
surely if you make big profits short-term trading you get taxed loads as opposed to holding investments for a year or longer?
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>>1068754
I do the same thing but I only work with about half as much as you do. Looking to grow and diversify of course, but still the same. My parameters are tight though.

You guys have to understand that the stock market is mostly millions of Wall Street dollars being pushed through a formula. Focus on one, maybe two stocks and study their movements every day. That's what I've been doing for the past year and a half and I'm just now putting real money into it. Know your shit.
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>>1068758
Well, thing is you're trying to beat the market. Any tax losses are hopefully offset by making more than 10%. And in the end, you're only taxed on capital gains, so no taxes if you don't make profits to begin with.
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>>1068758

Nah.

Capital gains is a set tax, everyone pays it (unless you invest in bitcoin, then you never have to pay a tax on capital gains because there are never capital gains)

Other than capital gains tax, there is a tax on each trade you make- this tax is very small. It just goes towards paying for the SEC regulators to fuck hookers and do coke all day.
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>>1068762
I play a specific sector rather than specific stocks. Though there are only 20 stocks I watch regularly. And of those only 5-6 I buy into regularly
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>>1067421
Yeah it's possible.

But you sound like you worked pretty hard for that 20k and that's your life savings.

You know what.

Get a demo account and trade until your really good.

When your ready to go live, strip naked and walk through the streets, make sure many people see you. Come back sit down, deposit your 20k and start trading.

If after 3 months of demo trading your still too scared to get naked and walk out... then you're not ready for live trading yet.

This will stop you from just dumping the 20k in early because you had a week of profits in the demo, and then losing it all.
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>>1068825
best place for demo trading?
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>>1068829
>>1068825
OP Here.

I've been paper trading. I've used both Plus 500 and Interactive Brokers. I can't do live trading due to my shitty schedule, but I started doing it 6 days ago and have made 800 off of a 7k investment. Bought oil barrels on Plus 500 and sold after the price hiked 3~ dollars or so.
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I'm in a similar situation. I'm Brazilian and this country is fucked. Unemployment and inflation are both skyrocketing and our president decided to repeat the same mistakes and hope for different results.

Due to capital constraints, I'm trying to get inside a prop trading firm.

You should never risk more than 2% of your capital on any trade, so even with 200x+ leverage in futures trading, I don't have enough to make decent money. I also don't have any savings that could pay the bills for at least one year, so I cannot trade full time.

I've been studying and practicing for over 18 months. Now I'm having some consistent (though small) profits.

How long have you been studying for?
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>>1068850
I've only started studying a week ago or so. I've been reading up on Investopedia and watching/reading a miscellany of content on the internet. I'm not ready to dip my feet into actual real money investments, but I'll try to get it going sometime during this year. Until then, I'll just try to learn as much as I possibly can.

By the way, boa sorte!
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>>1068856
I see. I believe it takes years to truly master trading and make a living of it.
Join our group on Facebook. groups/1382038722106736/
We trade Brazilian markets mostly, but we cover all aspects of trading education, technical analysis, fundamental analysis, news and some of us trade foreign exchange and stocks.
It's pretty active through Monday to Friday.
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>>1068850
>Unemployment and inflation are both skyrocketing
B-b-but keynesian economics says unemployment and inflation don't happen at the same time r-right?
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>>1067421
It's possible but not very plausible.

Short term trading is a difficult game. And the trading expenses will eat you alive, unless you have a large amount of capital. $20,000 is considerably less than the ideal amount. And you don't seem to have any experience in the area. Which means there will be a learning curve.
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