Re: Day trading %\'s ?
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My friend just started daytrading for a living
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Not enough information... did he just wake up this morning and decide to try his hand at daytrading? Does he have any kind of track record? Has he read any books? Does he have what it takes psychologically to be successful? Does he have a mentor? Is he trading any kind of a system? Does he understand the basics of risk/reward and money management?
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I bankrolled him for a no risk 5% cut
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What exactly does that mean? You bankrolled him, but you think you have no risk? Is he going to pay you back if he loses all your $$$ ?
To maintain a daytrading account, your equity can not fall below 25K. A daytrader should start with at least 100K+ to increase their chance of success, when the inevitable drawdowns come.
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