LIVEYou don't need $30,000 to start day trading.
If I only had $1000 to trade, this is what I would do:
1. Stick to a simple trading plan
My first job will be to create my trading strategy.
This includes the setups and stocks I will trade, as well as my size and risk for each trade.
2. Set realistic goals
I would focus on making incremental progress on the account.
With proper sizing and risk management, $100-$150 per week is a good goal with 1000$ .
3. Focus on consistency
I would follow my plan every day no matter what.
Even if the gains are small, I will think long term and choose consistency over the long term over quick money now.
4. Scale slowly
Once I find profits consistent with my trading plan and current size, I will SLOWLY start increasing my size to increase my profits.
This also comes with greater losses, so I need to make sure I'm ready to grow mentally as well.
5. Be persistent
Trading is not an easy task and you will face many failures on your way to success.
No matter how difficult the journey is, you need to be able to pick yourself up and keep going.
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