If i want to day trade how much starting money will i need to make...

Discussion in 'Off topic' started by tannerday225, May 15, 2008.

  1. tannerday225 Guest

    tannerday225
    ...atleast $1,500 a month? hey guys right now i need about 1500 dollars to cover expenses like home and food ect.. I was thinking about day trading for a job but know nothing about it, anyone know anything i can read and study about it or any cool websites that walk you through everyting and teach you everything? I will be getting 15,000 dollars soon and was wondering if that would be enough to start doing this as a full time job. what do you guys think? Any advice helps. thanks
  2. tmac5445 Guest

    tmac5445
    You will have the capital, $15,000 is enough but you need to find a discount broker for trades as low as $1. If i were you i would not do this, chances are you will lose money unless you have experience or a long educational background in stock trading. good luck though!
  3. 50/50 to 50 Guest

    50/50 to 50
    250K realistically is the bare minimum to do what you need.
    Do you really think you can earn 10% a month or 120% per year.
  4. John B Guest

    John B
    Gaining $1500 each month with $15,000 is totally unrealistic. It is more realistic to expect $1500/month from $150,000.

    My advice though is to forget day trading. Most people that try day trading lose money. The get-rich-quick software ads you see on TV are scams. Think about it -- why would someone work at a job selling software if they could make millions using their software?
  5. Carrie Guest

    Carrie
    if you want to day trade- i suggest you think long and hard about it first. day trading takes know how and market knowledge and there are specific rules you have to follow- such as- your broker dealer might require that you maintain at least 25,000.00 in your account or else resitrict your account. You need special market watch- software to monitor your moves so you can be able to buy/sell ASAP if need be. I would research this VERY carefully, as 15,000.00 can be wiped out in the blink of an eye if you're not careful.

    Open up a trading simulator account and practice first.

    www.investopedia.com
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