For me, I would say between $100 and $500 per week. I do quite the thing here (read on if you’re curious) (link below) – but it gets tricky with the amount of exposure/expertise I have to offer, and it depends heavily on how close to the cashflow I am.
I think in the long run, trading for a living will be really easy. I just need to spend some money every month on things other than what I’m spending in a day and that should keep my expenses down a bit.
I also want to have more time to write and research. I also have a job with a team so I have to do a lot of research and get back into blogging after working on it for so long.
How much money do you need to make per month?
I want to make about $5000 in my first year trading. Here’s how I did that:
I got a $700 tip on a $40 trade a few weeks ago as per the website – and a $120 tip a week ago on a $100 trade – and I’m up $800 and counting in total. I’ve traded on a daily basis for the last six weeks.
I only took 10% commissions off trades, which makes up about 1%.
You’ll have to buy through a lot of other traders with these trades – usually someone is willing to do 10% commissions on you trades.
The biggest barrier to success though would be the market itself.
It’s easy to sit and hold a position, then move it up to where it’ll make money or lose money – but you have to make sure you are profitable for yourself once done!
The downside of trading is not being able to trade when you want to or make money in some ways because of an illiquid market – especially on a daily basis.
Here is what I think it’s going to take to get me through:
Weekly salary
$100-150 / trade
$50/day – this is the tip you get if you get the tip right
$10 hourly in the first week – as of this post I’m still doing this
5-10% tips/week – if you have good tips, then this would be a big bump
Weekly fees/daily tips – $150-$250/day
Weekly tips – $30-40/day
I
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