is it a joke that I want to trade full time to make a living with only $30,000?

S

stockcik

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
 
i had a bit more than that amount when i started almost 15 years ago, and i already had a couple years under my belt of trading from my day job.

i wouldn't recommend it, especially since i had favorable conditions at the time.
 
Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
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If you don't know whether or not it "really works" without trading it "for real", then you've got too many psychological issues to guarantee success. In fact, you'll most likely sabotage yourself before you're even out of the gate.
 
Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
More...

Set a max loss of let's say $5000. If you lose that....end it. Good luck.
 
Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
More...

Paper trade in real time for a while to test out your idea.
 
Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
More...

if you have to ask, that means you are not ready.

to answer you directly with no disrespect: yes, it is foolhardy to even dream about it. Trading looks easy, but it is difficult. It is not the amount of capital that matters, it is not a track record that matters, it is a state of mind that determines whether you will survive or not.
 
Sure, give it a shot. But dont go nuts (trade very small size for a couple months), and don't have any daily/monthly profit goals. Have a max drawdown per day and strictly adhere to it so that you can stay in the game and give yourself some time to develop your method.

Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
More...
 
Quote from stockcik:

I have a day trade idea I think it should works,but I am not sure if it really works before I trade it real. I just have $30,000 capital to trade and set a target of making $2,000 monthly. any suggestion or experience? thx
More...

Is is possible?

Sure, with a little leverage, low living expenses, and enough experience to make you trade in the top 1% of the talent pool......

Based on your post, it sounds like you're just starting out. It took me a few years of chasing my tail to eventually come out the other side with consistent profits. But it was a similar vision to your own that got me started on the journey.
 
Quote from shortskirt:

Paper trade in real time for a while to test out your idea.
More...

Paper trading has it's limitations. When there is no fear and greed, you have no idea what you would have done, unless the trading is automated.


1245
 
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