Is 50,000$ Enough to set up a trading account to earn a full time living?

[yc47ib]

We all know this is ET, period.

For the people who read ET, we are not ordinary people who want to earn 10% each year. That is investment. We want 20%, 50%, 100% or more. Of course a lot people take over-sized risk and can't control the risk. That is blow-up.

With hindsight, MRNA has YTD return of 102%. Some others may have similar returns. I do not trade MRNA, but just a hint of what could be done or could have been done. If you day-trade, or use margins, then you could have had more than 100% return. There are other stocks that have YDT return more than 100%. You'll have to find those. Just do not say this is not possible if you do not know how and where to find. Or you blow-up for taking 10x leverage.

I do not know what the performance of the top 5% or top 1% of traders. But if you can't be the top trader, then the 100% or 200% may not be realistic.

I'd advise people read, read and learn. Before make huge statement that would cause problems.

For some traders eager to chase or BTFD, MRNA has a drop that halved the almost 500 tops, LOL.

 

[yc47ib]

No way.

It will create too much stress. As simple as that.

But if you're like me you will not listen to all this advice. And you will start with even 30k as an 28y old. Well, at least you will always have an interesting story at a party

It's just wiser to bet on 2 income streams. One fixed (job), one variable (trading/investing). Compounding is a key ingrediënt of future succes. Maybe 3mm will be sufficiënt to stop 'working'. At a minimum (from my view anyway).

I guess Elon Mask will not be Elon Mask if he was not the all in type and rely on two sources and to be safe, but most of us are not Elon Mask. Gambling in trading does not make us Elon Mask. Living on 50k trading is possible, but I guess whoever can do that will not be trading just 50k for long, based on my own experience, 50k is just a snapshot in your long journey, enjoy the ride and since the further away we are from the earth, the earth is more and more like a star, then a dot, then nothing, 50k is that earth, all depends on how fast you travel that journey.