You Only Need $5000 to Make a Living

[SicilianTM]

I wonder if we are talking about the same thing here.

When I hear "You Only Need $5000 to Make a Living", I take that to mean that any time your account is significantly over $5000 you withdraw the difference.

That's not the same thing as starting with $5000 and building it up to a point where you can then make a living.

Also, if you have other savings or income which you can use to replenish your account in the event of a drawdown, that's not the same as making a living off only $5000 either.

 

[AnonTrader08]

test

 

[chipmunk]

so in your opinions what do you need to mkae a living? 10, 20 contracts?

Ah.....why not buy this software and just sit on the beach?....something wrong here? Sounds too darned easy.


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[Darshan]

Quote from NY0BScalper:

I agree daytrading and making $500-1000+ per day without drawdowns greater than $5000 is possible. However, without a lot of these shady Tucoesque LLCs which provide us daytraders with our leverage, we will all need a lot more than $5,000 to make a living. Given that the future of the deposit taking leverage providing industry is in jeopardy, I would say that we equity traders may need more than $5,000 to make a living.

Actually at times where I'm struggling I tend to pull back the reigns.

Sometimes I'll set my max position size to $200 shares just to regain my confidence. You could easily make $500/day flipping 200 lots, which actually comes out to a pretty damn good living.

 

[chipmunk]

hi,

so you day trade equites? ^^^

Longer term trends or scalping?

One stock or one pattern on many stocks?

Thank you

 

[chipmunk]

Just to put you in the picture I have an $80,000 account and want to make some money each month from it. I was a good longer term investor but that market isn't there right now.

So rather than sit in cash I want to (not saying I will or can) make about 5% per month on my equity day trading. Possible or dream?

I have been paper trading for 3 months...some success. Some failure. I tried scalping and lsot about $500 in one week. Not quite what I had in mind.


Thank you

 

[Hombre]

Quote from chipmunk:

Just to put you in the picture I have an $80,000 account and want to make some money each month from it. I was a good longer term investor but that market isn't there right now.

So rather than sit in cash I want to (not saying I will or can) make about 5% per month on my equity day trading. Possible or dream?

I have been paper trading for 3 months...some success. Some failure. I tried scalping and lsot about $500 in one week. Not quite what I had in mind.


Thank you

it is a dream in recent trading environment.
I suggest that you get familliar with emini's .

 

[chipmunk]

day trading not buy and hold.......