{"id":1164,"date":"2022-06-16T11:54:04","date_gmt":"2022-06-16T11:54:04","guid":{"rendered":"https:\/\/wealthiereveryday.com\/?p=1164"},"modified":"2022-06-16T11:54:05","modified_gmt":"2022-06-16T11:54:05","slug":"can-day-trading-be-a-career","status":"publish","type":"post","link":"https:\/\/wealthiereveryday.com\/can-day-trading-be-a-career\/","title":{"rendered":"Can Day Trading Be a Career? (Pros and Cons)"},"content":{"rendered":"\n

Day trading as a career can be a tricky one. The pros are that you can work from anywhere you want. Cons are that there is not a steady source of revenue. It’s also a very stressful career path and requires a lot of work to learn.<\/p>\n\n\n\n

Returns as a day trader, are basically unlimited. However, when calculating whether you can live off your day trading, it’s important to be realistic. I have a post about realistic day trading returns. You can read it here<\/strong><\/a>.<\/p>\n\n\n\n

Is day trading a good career?<\/h2>\n\n\n\n

Is day trading a good and viable career? For most people day trading is probably not the best career path to go. I say most of the people, because there are successful day traders out there, who manage to make a living out of it.<\/p>\n\n\n\n

If you dedicate enough time to learning day trading, and can handle the stress and uncertainty it brings you, it could be a career for you. <\/strong><\/p>\n\n\n\n

However, it takes a long time to actually learn day trading, and the learning phase costs money. You can not learn the full scale day trading with paper money. It doesn’t feel the same. More about how long it takes to learn to day trade in this post.<\/a><\/strong><\/p>\n\n\n\n

Day trader salary<\/h2>\n\n\n\n

As a day trader, your earning potential is basically unlimited. Your income is not tied to the time you spend working. The amount of money you make depends only on the trades you take.<\/p>\n\n\n\n

According to Investopedia’s article<\/a>, the average salary of a day trader was 74 000 dollars in the year of 2021.<\/p>\n\n\n\n

However, that is the average. As a starting day trader, you shouldn’t assume to earn 74k in your first year of trading. It is very unlikely.<\/p>\n\n\n\n

The amount of money you earn will also differ, based on your performance. Day trader’s salary is not a fixed 10 000 a month, like in some fields of business. Your salary as a day trader, if you learn to be profitable and earned the average salary of a day trader could look something like this:<\/p>\n\n\n\n

Month<\/strong><\/td>Salary<\/strong><\/td><\/tr>
January<\/td>– 5 000<\/td><\/tr>
February<\/td>+ 20 000<\/td><\/tr>
March<\/td>– 7 500<\/td><\/tr>
April<\/td>+ 2 500<\/td><\/tr>
May<\/td>+ 15 000<\/td><\/tr>
June<\/td>– 2 500<\/td><\/tr>
July<\/td>+ 20 000<\/td><\/tr>
August<\/td>+ 15 000<\/td><\/tr>
September<\/td>– 2 500<\/td><\/tr>
October<\/td>+ 15 000<\/td><\/tr>
November<\/td>– 5 000<\/td><\/tr>
December<\/td>+ 10 000<\/td><\/tr><\/tbody><\/table>
What monthly income or loss of day trader could look like<\/figcaption><\/figure>\n\n\n\n

Losses are part of day trading. There is no guarantee at the end of the month that you will end up at a profit. Even the most skilled day traders have bad trades and bad seasons, where they face multiple losses in a row.<\/p>\n\n\n\n

The chart above is purely made up for an example. The numbers are only based on a 74k profit per year; what was taken from the article from Investopedia.<\/p>\n\n\n\n

More about the potential returns you can get as a day trader in this post<\/a><\/strong>.<\/p>\n\n\n\n

Pros of becoming independent day trader<\/h2>\n\n\n\n

There are surely benefits on being a day trader. Othervise, it wouldn’t be as popular topic. Some of the benefits of being a day trader are:<\/p>\n\n\n\n