How much money do I need to become a day trader?

[Marko Jovicic]

Hello, I would like to know the amount of money needed for day trading.

[Rishabh Tyagi]

That depends on your trading style, what markets you would be trading in (equity, commodity, futures, options, or forex), and your return expectations. 

One simple rule I use. 

1. Know my strategy i.e., out of 10 trades how time I would win.  

2. The risk to reward ratio of my strategy.  If I win how much I win. 

3. My profit return expectations. 

Once you know these 3 things, you can use simple math, and figure out how much you would need to start with. 

[Predrag V]

Hey Marko,thanks for asking!

In order to become a day trader in the U.S., you are required to have at least $25,000 in your account and anything below this amount will keep you from day trading.

But on the other hand, it is not advisable to have the bare minimum of capital when starting and the recommended amount is about $30,000 as it gives you enough wiggle room, and enables you to endure losses easier than having less than recommended amount.

Another requirement that you will need to fulfill in order to be classified as a day trader is to make at least four trades per day and doing this will cause your account balance to be taken into consideration.
 

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