How much capital do you typically need as a trader to live on your own?

L

Lethn

Okay, here's a question I'm going to pose for you traders who are actually successful and living on your own? How much did you need before you actually left wherever you were based at and could comfortably live on your own? I'm currently calculating my costs and I think I'm looking at somewhere around £100,000 - £150,000 as a target for moving out.

However there's only one problem, how much can you typically earn daily? Or is that merely something you have to find out for yourself when you build up enough capital to trade more frequently?
 
Quote from sprinter:

About a million usd. Then prop shop leverage with arpund 25k usd for your trading biz

unless you don't mind poverty
More...

ehehhe funny how one man's normal living is another man's poverty

Assuming you know how to trade

50 k USD or CDN is all you need

you can make 5 k a month and live well

of course some people think 5 k a month is poverty :D

to which I say, Why do you have to live in NYC centre or Vancouver city centre.

Move to cheaper part of the city.

Now some ass will step in to say. UUUUUU cheaper part of city is more crime uuuuuuu I can't do that
 
Depends what your opportunity cost is.

Let's say you can make 25%/year while working and 75% while trading.

Ok that adds up to

$100,000 capital

$75k - $25k = $50,000 from trading

With a $50,000 job that evens out. You're making $75k with job and $75k trading.

That's one way of thinking about it.
 
Quote from Dataa:

ehehhe funny how one man's normal living is another man's poverty

Assuming you know how to trade

50 k USD or CDN is all you need

you can make 5 k a month and live well

of course some people think 5 k a month is poverty :D

to which I say, Why do you have to live in NYC centre or Vancouver city centre.

Move to cheaper part of the city.

Now some ass will step in to say. UUUUUU cheaper part of city is more crime uuuuuuu I can't do that
More...

try starting a family with 5K/month
 
Quote from sprinter:

No one makes consistent 26% year after year. You will have losing years also. It's better to face reality now than later
More...

no wrong

if you are a swinger, hap haphazardly looking for setups, yes you will have losing years

if you are a day trader or scalper. you will have losing months but not years

assuming you know how to be a day trader
 
Quote from shortie:

try starting a family with 5K/month
More...

you have a point there

which is why you save and trade with greater leverage in few years

then you make 10 k a month

and now you start a family

of course if you had sex without brain, and wife is pregnant already

well tough luck

life is a bitch
 
Quote from sprinter:

statistically you are wrong. Daytraders can and do make good money untill the market changes and their edge expires. Edges rarely last more than 3 years or so and they are a diminishing commodity.
More...

What you mean by making money until the market changes? If the market didn't change and was predictable everyone would make money. I think part of day trading is adjusting to what the market is doing and trading accordingly.
 
Quote from sprinter:

statistically you are wrong. Daytraders can and do make good money untill the market changes and their edge expires. Edges rarely last more than 3 years or so and they are a diminishing commodity.
More...

I disagree with that

My first system from 15 years ago still works today,only have to adjust to volatility

My 2 most recent systems have been profitable since 2005
 
#1 Extreme LOL at people thinking 50k is poverty. You don't know poverty.

#2 If you know how to trade, you need 3k-10k at a prop and voila.


IF you do not like/want/have weird prejudices against props, then I'm certain there are other valid ways, but they will require more capital.
 
You must log in or register to reply here.
Back
Top