How much capital do you typically need as a trader to live on your own?

Okay, here's a question I'm going to pose for you traders who are actually successful and living on your own? How much did you need before you actually left wherever you were based at and could comfortably live on your own? I'm currently calculating my costs and I think I'm looking at somewhere around £100,000 - £150,000 as a target for moving out.

However there's only one problem, how much can you typically earn daily? Or is that merely something you have to find out for yourself when you build up enough capital to trade more frequently?

 

ehehhe funny how one man's normal living is another man's poverty

Assuming you know how to trade

50 k USD or CDN is all you need

you can make 5 k a month and live well

of course some people think 5 k a month is poverty

to which I say, Why do you have to live in NYC centre or Vancouver city centre.

Move to cheaper part of the city.

Now some ass will step in to say. UUUUUU cheaper part of city is more crime uuuuuuu I can't do that

 

Depends what your opportunity cost is.

Let's say you can make 25%/year while working and 75% while trading.

Ok that adds up to

$100,000 capital

$75k - $25k = $50,000 from trading

With a $50,000 job that evens out. You're making $75k with job and $75k trading.

That's one way of thinking about it.

 

try starting a family with 5K/month

 

no wrong

if you are a swinger, hap haphazardly looking for setups, yes you will have losing years

if you are a day trader or scalper. you will have losing months but not years

assuming you know how to be a day trader

 

you have a point there

which is why you save and trade with greater leverage in few years

then you make 10 k a month

and now you start a family

of course if you had sex without brain, and wife is pregnant already

well tough luck

life is a bitch

 

So I guess then, that the basic answer is very much it depends on what your living expenses are?

 

What you mean by making money until the market changes? If the market didn't change and was predictable everyone would make money. I think part of day trading is adjusting to what the market is doing and trading accordingly.

 

I disagree with that

My first system from 15 years ago still works today,only have to adjust to volatility

My 2 most recent systems have been profitable since 2005

 

#1 Extreme LOL at people thinking 50k is poverty. You don't know poverty.

#2 If you know how to trade, you need 3k-10k at a prop and voila.


IF you do not like/want/have weird prejudices against props, then I'm certain there are other valid ways, but they will require more capital.