comfortable with in order to comfortably and emotionless create $100 daily.
I look at it this way..
$100 a day, approx 250 trading days a year = $25,000 a year
If you can make 25% a year as a beginner you are doing very well, so in that case you're looking at a $100,000 account. Probably not the answer you're looking for but it's closer to reality.
It's not a linear thing either every day, week or month probably be profitable remember.
No no - that is the answer I am looking for. 100K sounds about right for small positions without worrying about over leverage or risk. The other fellow who said 730K - I would rather invest a huge portion of that into property rather than day trading haha
What do you mean by small positions?
If its for a side income, you won't be able able to day trade will you?
I work from home anyway. Expenses extremely low. My mortgage payments are tiny, and I wholesale products from home. So I have more than enough time to dedicate to either day trading, learning to ride a Llama or filleting a sandwich
Oh and by small positions I mean risking, say 0.1% of my account. So on 100k that would be a 100 dollar risk per trade. that's what I consider ideal but then again, what I consider ideal is irrelevant since I am a fool!
Crazy.
That's not how it works.
You need to have the 100K earning 25%
.01% of it wont do that----------
The other fellow who said 730K - I would rather invest a huge portion of that into property rather than day trading haha
Oh crap - can you elaborate on that further for me tech/a - if you have the time ofcourse? I genuinely want to hear your thoughts on the matter.
Well you won't get your target $100 a day by putting $730,000 into an investment property.
Really? We're making a net 5% on a property here in Brisbane. Thats over 20k per year before tax. Now of course after tax its less, but that depends on your income situation. Rental yields of 5% net aren't easy to come by, but they're out there.
Are you talking residential? and when you say 5% net, are you talking about after rates, water, maintenance, agents fees, body corp, vacancy eg all holding costs.
I admit I haven't looked for a while, but most stuff I see around Brisbane and Sydney struggles to get 4% gross, then you lose 25% of that leaving you with a net return of some where around 3%, which would put you around $60/day.
Where is it?Yes, we're at 5% after expenses, before tax. Its a 'dual key' property, 2 bedroom apartment with a studio below.
Yes, we're at 5% after expenses, before tax. Its a 'dual key' property, 2 bedroom apartment with a studio below.
I own a similar property in Brisbane, it's actually a duplex, when I bought it (years ago) it was earning 5.25% gross, which means it is less than 5% net.
Was the property you are talking about purchased at a net return of 5%, or is it only earning 5% after rental increases etc?
Also are you deducting a maintenance allowance from your rental, to allow for big expenses which will come, or just working it out on what you are spending this year.
to work it out correctly, I would deduct 25% of your current yearly rental income, and then compare it to what your current property value is, unless its in an area with low property prices you will probably find it is less than 5% yield once you factor in the replacement cost of the things that are wearing out, eg bathrooms, kitchens, roof, carpets, curtains etc etc.
Where is it?
Haven't looked for a few years, but was definitely possible to get a gross yield of over 8% in places in the Logan shire area, and also down the Ipswich corridor. Probably still can.
That's pretty good going. Well done, much closer than I assumed.South of Brisbane CBD approx 8 km.
That's pretty good going. Well done, much closer than I assumed.
Probably not far down the road for me. We're near Carindale.
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