Day Trading $30,000

[bradberkobien]

Thanks for the responses everyone!

 

[imjohn]

From my past years of experience I believe that I can make a living off of starting with $30,000 in my account for day trading. The problem is how do I get there? Are there any professional day traders out there to give advice? I know this is possible.

The answer depends on how much the person actually needs to make a living. The basic math of "how do you get there?" is something a serious trader should know before attempting to rely on trading as their sole income.

Can a trader just be "profitable" trading a $30,000 account. That's a clear yes.

 

[schizo]

$30K is a nice start, but not enough for full time trading stocks, $100K minimum + emergency funds + other savings.

What you guys conveniently forget or willfully neglect to admit is that having $30K as a seed money is not itself a guarantee for success. It doesn't matter how much you start with. You can start with $100K for all I care.

The question is does he have the trading skills to stay afloat month after month. Otherwise, discussing how much money he has is meaningless.

 

[MACD]

If you trade options on futures you will be able to achieve your goal with minimal daily screen time or effort. You have correct sized account. Options provides leverage, lowered risk, and reduced margin requirements.

 

[ironchef]

If you trade options on futures you will be able to achieve your goal with minimal daily screen time or effort. You have correct sized account. Options provides leverage, lowered risk, and reduced margin requirements.

So easy anyone can do it. Except me!

 

[MACD]

So easy anyone can do it. Except me!

I take it that this is not a question, but a comment that you have experienced trading this way and it did not work well for you, of course it would be unfair to question the difficulty, ease, or viability of trading options on futures -- guess you are doubting the ability of anyone familiar with options/futures basics and learning how to do this with a 30K account?

 

[MACD]

I take it that this is not a question, but a comment that you have experienced trading this way and it did not work well for you, of course it would be unfair to question the difficulty, ease, or viability of trading options on futures -- guess you are doubting the ability of anyone familiar with options/futures basics and learning how to do this with a 30K account?

 

[oraclewizard77]

I would suggest either using a prop firm if trading stocks or trade futures. You have more than enough money to enroll in a prop firm which gives more leverage.

 

[KINGOFSHORTS]

From my past years of experience I believe that I can make a living off of starting with $30,000 in my account for day trading. The problem is how do I get there? Are there any professional day traders out there to give advice? I know this is possible.

P.S. I'm located in the Capital of Michigan, Lansing

No. Why do you think you can earn a living trading 30K.

 

[KINGOFSHORTS]

$30K is PLENTY of capital to start with provided that you don't withdraw funds from your trading account for any expenses other than trading execution costs. In other words - get a software job to pay for your living expenses and to pay for your ancillary trading modeling software and ECN.

You should be hyper-focused on growing your account equity in a slow, methodical fashion. Your goal is simple: CONSISTENCY.

With consistency comes the ability to lever. Your approach is the same when you are trading one MES as it is when you are trading 100 ES.

And that's how you go from making $100 per day to making $10,000 per day.

But the only thing you concern yourself with is taking a little something away from the market every single day. You hit for average. When you are able to string together fifteen winning days versus three losing days in any given month - that's how it's done. When your losing days are somewhat rare and are no bigger than any winning day - that's how it's done.

I must be doing something wrong I have a well capitalized 7 digit Portfolio Margin account and I don't make 10K trading daily. (I trade SPY options)