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At what point do you think it's reasonable to quit PA and day trade FT? I think I'm pretty good at finding 1%/daily. How long of a track record til I should feel comfortable?

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Day trading is dangerous if it's your only source of income. You'd better have a lot of experience if you're gonna put all your eggs in that basket

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Let's think for a second. Let's say you have a bad day and lose 1%. You now will need to gain more than 1% a day to make up for your losses. Computers will always beat you in day trading. Don't quit your day job unless you want the big banks to eat your lunch

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Lmao I doubt you'll be able to sustain 1% daily

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Just go to a casino instead

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I say trade and started out for a few months up huge multiples due to big spreads in option plays. I dream about quitting my job to full day trade. Big money is to be made. Just be careful as market changes yearly. If you have something that works now, it may not in future. I'm on my 8th year trading. First three up, last 5 down. Partly due to not being full time and playing riskier plays. I take risks due to my full time job. What is your go to trade for 1% daily? That's pretty good as overall portfolio. Also, as portfolio grows, you need to adjust

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Day trading is easy in a long bull market. Many did it in the late 90s in the dotcom bubble. Crushed when it turned. I would say be careful.

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In theory 1% daily would double my salary.

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Lol

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Why does it have to be a bull market to make money day trading? Shorting in a bear market has same effect, no?

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I'd be happy with 1% daily if you can be consistent. I've thought about doing this too. Maybe supplement your income with a small accounting business, eBay retail, etc, just to have something to fall back on? You can always come back to PA.

For all the day traders, how do you minimize commissions on each trade?

Agree EY 1. @kpmg 1 I make a lot of trades a year and get killed on commissions. Thousands of dollars in expenses. Usually the broker will work with you and get lower commissions if it's high enough. Need to make up for it and have gains in order to get to break even.

How big of trades are you doing dollar wise BDO?

KPMG & BDO - Robinhood has zero commissions. 2k margin for $10 a month. The only down side is that it's primarily equities. No options, futures or forex. Still an awesome platform for free commissions.

@ey1 I used to trade and my trades would be between 10k and 20k each. Now I trade mostly options and each position is between $500 and $2000. Can get a lot more equity and movement in options but risk is heavier. @senior I heard of robin hood. I like options so I need a different broker. I may check it out once after it's been out a little more time

^that was supposed to say I used to trade on margin and my trades were between 10-20k

Bdo - what platform do you use for options trading? What's the pricing like?

I use E*TRADE 9.99/ trade plus .75 per contract and trade king 4.95 / trade plus .65 per contract

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