How much money to day-trade?

Hi frens. I’m starting to daytrade and I want to know what capital do I need to make like 100$ per day consistently. 30k? 40k? 50k? Throw me some numbers and feel free to give me some tips on how to start thx

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Day trading is ass. Do swing/flipping.

I’ve been only buy and holding for now and I’m making good profits off crypto, but I want something more exciting. Would you say swing trading could fulfill all of my needs sir?

when will people realize they can't "just start day trading"
fren, day trading is not something you can just do, it's something where you need at least a decade of experience
everyone can buy and hold, but only a small percentage of the population can day trade

Depends your level of understanding and skills.
$100 a day isn't much, with $1,000 that's only a 2% move at 5x leverage which is reasonable. Coins like YFI move 10% a day so with some smarts its not hard

I have an high IQ and willpower and I can pratice for at least 1 year before starting

The problem is I don’t know if it is possible to do that every day in the long run

you sound determent, if you think you can do it then I support you, however realize it will take time to learn and you might lose money in the process
godspeed

If you have high iq, you wouldn't posting here

Don't chase something hoping it moons
Go after stuff that already dumped but you know can recover.

Its definitely possible, people do it but only 1 in 10 will succeed.
As long as you have a system and don't yet greedy its all good

I’m 18 and I’m used to work hard, in the past 2 months I’ve built a capital that I’ve never had before, but I won’t stop there. Every young guy in my country has no goals and doesn’t wanna risk anything. I am hungry and I will do everything it takes. I will try to build my capital and practice at the same time trough the year, so that I will be able to afford losing money. I am very happy that someone supports me, cheers brother

Delete this, it took me 1 month to understand that and I don’t want others to know this golden advice

i take back what I said, I'm 18 too, i don't day trade I just invest in projects with a future and am up 8000% since August
learn how to pick apart projects and invest, it's a easier skill to learn than learning how to day trade
especially if you're just an 18 yo retard who has no idea about how everything works

Conservatively if you want to day trade as a beginner your goal should be 1% a day in profit. If by some miracle you average 1% a day through compound growth you double your money in just over 2 months. You can play with leverage but since you're a beginner stick to the spot market while getting a feel for how things work. It's not easy but it's extremely interesting to learn if you're into numbers and economics. To earn $100 a day without leverage you'd need a $10,000 account with my conservative 1% daily goal. I won't hold your hand through the technicals of trading because there's so much to learn but this non-technical video non-shill video is extremely loaded with good advice. A lot of it might not mean anything to you now but 100% you will commit some of the mistakes he talks about if you just dive into day trading without fully studying first and even with study you will still make the mistakes because some people have to learn the hard way first. youtu.be/el10dgDa2Do

8000%? Wtf am I doing wrong

also want to add the first thing you should be googling is "what is risk management in trading?" and "what is position size in trading?

If you start doing live trades and you can't answer either of those you're fucked.

yeah, what you're doing wrong is not learning how to tell if a project will succeed or not
it's a skill, you can train it
I've been in this ecosystem for a little over 3 years now, i can practically tell just by looking at a project if it's a good buy or not
so I just buy low mcap coins with a high chance of popping
currently only hold 2 and looking to buy 3 more coins

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I appreciate very much your advice and I will definitely watch the video, by no means I think I will become able to do 0.1% everyday before 1 year of practicing so I’m so much more conservative than you because I know life and trading are full of unexpected events

I started 2 months ago so I’m still developing that skill even tough I’m ok with my profits

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Depends on how much you're willing to risk. I have days where i make $3k and days where literally every trade i make bleeds. If you want my honest opinion, don't leverage, don't contra. Learn to handle risk and disappointment. I've met so many "traders" that made like 4 digits a day, only to get flushed out with one or two bad trades. Don't listen to any joker that tells you about the profits you make, the most important thing is your losses. The pain of bleeding a trade and the anxiety is 100 times more than making 25% on one or two calls. Anyone who tells you otherwise is a fucking idiot. And don't let anyone lull you into believing that they can "beat the market" all the time. Honestly I'd be over the moon with a hit rate of above 50%. Go look at all the youtube tutorials but don't learn from them; just watch for the common theme they try to espouse. If i were you, I'd honestly buckle down and trade only as a last resort and after you grad from fin/math/comsci from an excellent university.

$100 a day, just be a waiter bro.

Day trading is a meme. Swing like a reasonable person.

And honestly return %means jackshit if you're trading below 2k per hit. You see what i mean when you start hitting 1k per hit and it only gets more and more painful

Shill me swinging

bump for a nice thread

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thx sir

I did it successfully in 2017-18. Right now there are so many advanced crypto projects, that it's very hard to predict anything.
I'm just moving arround my money farming coins that dump. I'm not day trading in these conditions.
But I wish you good luck! Don't feel bad when u lose.

then practice for a year....by then you will know the answer to your question.

Over 90% of professional investors lose to the benchmark indexes in 5 years time. What makes you special? Srsly the people who beat indexes are literally like one in a million.

>just be a wageslave

In one scenario you have a 9-5 job with a boss that you have to deal with. In the other, you work on your own time with nobody to report to.