$100 net profit a day is my goal

[clowboy]

Converted,

you can still always just invest the money.

Every $1000 could go a very long way come retirement.

Passive income is what you seek, not the road to riches

 

[Temjin]

Thanks all for your input. Whether youre day trading or trading long term it all looks too complex, and youre right maybe i really dont want to do this....
I have got way too much on in my life to have the time to learn a whole new skilset anyway and i guess if it was simple everyone would do it.

However, don't let all this put you off.

You should still take responsible for your finanical future. At the very minimum, make your money (saving) work for you as hard as possible. Obviously, successful day trading with consistent profit will make the money worked the hardest, but the steep learning curve and the stress involved may not be right for you.

Instead, consider investing in managed funds and learn margin lending, or perhaps properties depending on your personal preference.

Long term trading is just a step above investing in managed funds/shares where you have a real entry and exit plan if things goes wrong, along with basic risk management. Most people would simply just invest and hold and ride the waves.

It's a fact that trading long term via an extremely simply system (such as a long period MA system) would still give you a higher return than just holding them for the same period.

Take it step by step. Jumping straight into day trading is almost like trying to run when you can't even stand up.

Good luck anyway.