What’s up, everyone? All right, so in this episode, I’m going to answer that question that so many of you guys have been asking, how much money do you need in order to start day trading?
And what I’ve also done is I’ve put together a few case studies of my students who have taken small accounts and turned those small accounts into full-day trading accounts, and the ability to live life completely on their own terms thanks to learning the strategies that I teach.
So as you go through this video or as you watch the case studies in the link below, one of them is a podcast of a mentor session that one of my students is now teaching to beginner traders, who are at the very beginning of their journey.
So as you’re going through all of that, if you have questions, if you have comments, please leave them below. I personally respond to every question and comment posted on my channel, and as always, I hope you guys really enjoy this episode and please give me a thumbs up if you do. All right, let’s get into it.
How Much Money do you Need to Day Trade?
That is the most popular question the beginner traders will ask me. So what I’m going to do is I’m going to flip that around on you and I’m going to ask you two questions. Number one, what’s your daily goal? How much money in a perfect world are you wanting to make each day as a trader? All right, now let’s just say for the sake of argument, say a hundred bucks, all right? Extra hundred dollars a day would do the trick. All right? Now the second question is how much money do you have to start day trading with?
Now, this is a big variable because some of you guys are going to say, well, I’ve only got 500 bucks, maybe 1,000. Some of you are kind of in the middle, maybe 3,000 to 5,000. And some of you guys, you’ve got bigger accounts, so you’re going to be maybe 10 to 25 or 25,000 and up. Now, why did I break it down into these categories?……