Since the 'average' daytrader loses money, I disagree with acrary's claim. If he is talking about a 200% peak, followed by a 100% loss in the overleveraged heights of euphoria, now that I have seen over and over.
I made the switch to fulltime trading back in July when i finished college... Started with £759 (all the money i had in the world), i went from that to £5,690 in 2months, all at just £1 per tick, and with a 12ticks spread per trade. (UK spread betting firm). I then withdrew down to £2,000 at end of august as i moved into a luxury new apartment and paid rent inadvance + funiture and stuff, and then since mid september whne i restarted i gone form 2k to over £8,000 now, all at just £2 t £3 per tick, and still scapling with that 12ticks spread! lol Every single day has been written in my online traidng journal, daily explanations on what trades im gna make, and screen shot statements posted to prove its all real. So you dont need anywhere near 300,000quid to make a lviing traidng!!! LOL It helps if yo do, since then if you go months n months earning zero or losing money or just not earnng over 1,000quid you dont endup homeless or anything.... lol But you get £3,000 and start traidng £1 t £2 tick, and thats should be enough to start from.
I once knew a guy who jumped off a 4 story building and survived. is it possible? Hell yea, but I would rather take the elevator..Same with trading, could it be done with 10K, 5K, 2K? perhaps but why risk blowing up. Start with proper amount and enjoy the windfall.
"To make a living you need at least 300k in your account? " if you have 300k in your acct , you can live off nicely without risky trading anything .
This is the idea, to have moderate risk. ALL those that take high risk, end up blowing up, soon or late.