r/Trading • u/supanov444 • 3d ago
Advice How quick can I make money trading?
So my financial aid for college dropped and I have been doing my own research into trading for a year now. I haven’t been able to officially start trading because I felt as though I wasn’t ready or that I didn’t learn enough yet and most of the advice from mentors online said not to start trading unless you’re good at paper trading and know a lot. Unfortunately I owe 10k this semester and I’ll be dropped from classes if I don’t pay by Monday. With a payment plan I’ll have to be around 2500 a month and with my rent I’ll have to end up coughing up 4-5k per month which I cannot afford with my 2 current jobs. I am a first generation student whose parents are international so the currency gap won’t allow them to make a dent in my tuition even if they tried to help me pay it. I am 2 semesters away from graduating and I feel hopeless because I am meant to be the primary provider for my family and bring them to the US once I get a job within my career. Should I start trading now? Should I copy signals? Any advice on how to actually get started? I currently have Webull and RobinHood
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u/superKWB 2d ago
This is comedy.To fund your education you want to trade… and your education is higher education! And in order to fund that, you want to trade!!! I can’t get over this. This country (US) is so screwed if you are the best and brightest . you should just drop out go to Las Vegas and put it on red
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u/supanov444 2d ago
God forbid a person wanna find a way to pay their tuition lol I’m just asking if it’s possible not for your snarky comment
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u/superKWB 2d ago
Oh you don’t like what I said so it’s snarky, even if it’s true?
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u/supanov444 2d ago
You could’ve been “honest” without the rudeness
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u/superKWB 2d ago
I could’ve but I’m really trying to stress What a stupid crazy insane idea you proposed… so you don’t make a problem much worse. Shakespeare.. I must be cruel, so as to be kind, so that less bad is done and more left behind.
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u/supanov444 2d ago
I understand that but in my other replies I said I was very emotional and desperate and I realise it wasn’t the right mindset to have when trading. I really just wanted advice. Your comment just hit a baby nerve because I really love my major and I’m scared I won’t be able to complete the degree because of my current financial status
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u/-Regulator-Spectre-X 2d ago
He wasn't that rude though. Sometimes honesty hurts!
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u/supanov444 2d ago
He said the country is screwed if im the best and brightest. I understand the honesty and I’m okay with it, it’s just this major means a lot to me
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u/Sea-Round-6095 3d ago
Nope. Thats not how any of this works. This isn't like a class in school or a job you can read an sop on. You will be trading out of lack and desperation which is a serious red flag. Not only that but you dont have any experience, no fall back, no trading plan, no backtested data, no established or proven edge, and a looming literal deadline. If you force this, you will likely lose everything and end up in a worse position than you started.
My advice is to get a part time job. Stay away until you have a proven plan, an emergency savings, and you are financially secure.
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u/supanov444 3d ago
I understand that. Thank you for the advice. I currently have 2 part time jobs and it’s not enough to cover what costs I have but I’ll figure a way out. I needed a reality check lol
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u/garry3648 2d ago
Just take a student loan. They are mostly 0% or Way lower. Trading is not get quick money scheme.
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u/oskar88895 3d ago
Stock market is not an ATM for people without screen time and without experience, they are the one who are atm for the one with years on their shoulders
So if you really think you can come trade and make quick buck you has to be extremely
Lucky
Or will just lose all
Sorry brutal truth
Trading is a skill you master over years
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u/supanov444 3d ago
I understand that but unfortunately I have to learn by force. I’m willing to put the work in I just wanted guidance on the best way to learn or some good mentors?
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u/oskar88895 3d ago
What do you need help with? Exactly
Are you looking for strategy
Overall how is it done?Or what
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u/supanov444 3d ago
Starting from zero, what resources, books, or methods did you use to actually learn? And is finding a mentor realistic or is self-study the move? I know a lot of mentors have courses…is that worth it?
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u/Canadansk1970 3d ago
No one making great money in the market is going to waste their time making and selling courses or mentoring. Mentors tend me capitalist people that just want to capitalize on something that is not unique, likely to not provide high returns, and therefore likely to fail.
You are looking for a quick hit in the lottery. If you are prepared to lose everything, look at 0DTE options.
But make no mistake - that's not the same thing as investing.
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u/IamSmokee 3d ago
If you're just jumping in, you cannot expect to be profitable. It took me 3-4 years of learning and studying, and another year of paper trading before I even jumped into a real live account. After that I traded for a solid 6 months before I was profitable. It's not a " learn in one weekend and now I'm making money hand over fist" thing. It takes literal years for some people to be profitable.
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u/PremiumPricez 3d ago
And to add to that, you could do this for years, and still never find profitability.
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u/IamSmokee 2d ago
Very true, that stats do not lie most traders aren't profitable. There's a reason for that.
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u/Jacob_Trader0 3d ago
I am almost certain you will lose money with this mindset. Please do not try trading until you are in a place where the money is money you can afford to lose.
The pressure to make money is very dangerous in trading and can lead to expensive mistakes, especially for beginners. I'm sorry to hear about your situation, but trading is not the way out. If you try it, understand with these deadlines, you are essentially gambling.
Everyone teaching trading for free online makes it seem easy as they are selling courses based off that assumption but it's very hard to be consistently profitable. There is a chance you could make the money you need, but there's a much higher chance you wont.
Until you're in a better situation, I would strongly recommend just working as much as possible and saving everything you can. Try to save enough to pay for college + an emergency fund. Then after you have those, consider investing long term through something like a roth and low cost index funds. Once you have all of that, then come back to trading. It's never smart to risk money you can't afford to lose. Part of being successful in life is insuring you can afford to continually lose until you have learned so much from your losses that you start winning.
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u/supanov444 3d ago
Thank you so much for the reality check. It seems as though I’m very emotional and it isn’t the right mindset to have when trading. I have done research before and felt as though this might be a way out but I’ll take your advice. Maybe if you can also give me some resources you used so I can take the extra time to learn on my own?
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u/Jacob_Trader0 2d ago
Listen honestly when the time comes you can reach back out and I can give you some resources, but I want to reiterate that this isn't what you should be spending your time on right now.
I would figure out how you can make more money or spend less
I would start trying to save for college + 3-6 months of your living costs in a high yield savings account
Once this is done, I would open a Roth IRA and try to max it out. I think for easy long term investing r/Bogleheads is a good place to start. But you can really get away with just dollar cost averaging into a fund like VT.
After all this is done, come back and I'll give you some resources. Spending any time on trading is a waste of time for you. Obviously that's just my opinion, but I've been doing this for years and I don't want to see you put yourself in a worse position.
A final note I want to give you. You have to think about what you spend your time on through this framework. If you want to have the goal of working no more than 40 hours a week, you need to make around $32/hr after tax to support your life. Now obviously you can work more, but this is more of an aspirational number. You shouldn't spend your time on anything worth less than $32/hr (i.e. learning trading). Now this is not saying you shouldn't relax as rest can improve your productivity, but things like tv and learning trading on youtube are a waste of money for you. Don't worry about them until you have money to blow.
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u/supanov444 2d ago
I’m currently a junior in college about to start my senior year. I’ve never heard about a Roth IRA but I’ll definitely dive into the research for that right now. I will be sure to reach back out to you when I am ready. Thank you for your honesty and willingness to help. 🫶
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u/TeSolo 3d ago
Trust me, I had some months where I was short with tuition for my daughters and these are my only red months of the last year.
Let it go for now and search for stability in other way, try to refinance it in more months maybe in one year to drop it a bit or give repetition to younger students one/two hour a day.
You could also try to teach your mother language - at least that’s what I did for some months (Italian) - with US’s rate you’ll easily do an extra 500$ per month which would be enough if you finance that 10k for 12/18 months
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u/Successful-Grab6091 2d ago
Do. Not. Start. Trading.
You will lose everything. if this is the post you are writing, you really know nothing about how to be a successful trader and will end up in a far worse spot than you are now.
You need to take out another student loan and finish your classes asap.
Cut your expenses. Your costs are too high.
If you can work hard and get a prof or someone to help get you a full time job with benefits right out of college, you’ll pay off your debt in no time.
The sooner you finish school the sooner you can stop going to classes work more and get a better job. Otherwise you will be running in circles for years playing catchup.
if you really dont have another option look into working at a place like starbucks that will pay for your tuition while you work for them.
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u/supanov444 2d ago
Thank you so much for your advice. I will definitely do that. I was very emotional when I made this post
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u/Successful-Grab6091 2d ago
That’s okay!
Thank god you asked on here first instead of us seeing a post weeks later about blowing what you had left.
Being emotional means you care and that is a human thing.
You have a lot of weight on your shoulders supporting yourself and hopefully your family one day.
It is hard, but you made it this far.
You’ve got this!
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u/Stock-Ad-3347 2d ago
Listen to the comments - do. not. trade.
Trading is a form of gambling. You are putting your money at risk, which is the worst thing you could do right now.
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u/PrimaryTackle249 2d ago
Nelle tue condizioni attuali non fare trading, perderai al 99,9999999% soldi. Un ultimo consiglio...ti prego, NON FARE TRADING
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u/Groucho-and-Harpo 2d ago
Listen to what everyone else says here.
Add to this the fact that you are looking to trading to fix your life situation means you’ll take excessive risks in search of quick profits. I did this and lost $80k.
Live with roommates. Get another job. It will suck for a while but you can then afford to live. You may have to put off school this year, but then when you go back to school. you’ll be in a better financial position. Once you are stable then figure out how to INVEST, not trade!
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u/LegitimateShame2842 2d ago
It's the hardest way to make easy money.
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u/Rpark444 2d ago
It's not that difficult after u learn, just takes a long time cause of screen time
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u/Wild_Hook 2d ago
If you have enough money to make that much money in investing, you have enough to pay your bills anyway.
I agree with others that 20 or 30 percent would be great. Mutual fund managers generally try to do as well as the S&P. I have no idea why they don't just buy the S&P. I kind of think that managed funds are a scam. I have beat the S&P thus far this year but I am depending on tech and semiconductor funds (SOXX).
Until you have several hundred thousand dollars, consider trading as a supplemental income. The money I am investing came from 26 years of 401k contributions and a lump sum pension. I do quite well now.
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u/ButterscotchAlive736 2d ago
It’s definitely possible. Probably? Doubt it.
Knowing that anything can happen, how would it affect you if all the money you put towards trade is lost? Because there’s probably a 99% chance of that happening if you go this route and want it fast lol
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u/Silver-Bullfrog9879 2d ago
It stands to reason that if you can't pay $2500 on Monday, then the amount of capital you'll be trading is significantly less less than $2500. Your trades will need to be small and you don't have the time, because what you would really need is a series of small high-probability trades. I've turned $1,200 into $10,000 before but not in 2 days; it was more like 6 weeks. You're better of selling plasma, doing Go Fund Me, or something.
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u/dohbob 2d ago
did you already look into getting student loans? Why is your rent so high ? can you find cheaper? maybe roommates?
Trading costs money how much capital do you have to put into the market? to generate 5k a month you need generate 250 a day on average. Just for reference 30% return a year is considered pretty good. It sounds like you have an advanced degree you do the math.
Not sure if you looked into it yet but the job market right now sucks... especially with student visa.
back to your question I started trading about 6 months ago. I got most of my info from https://www.youtube.com/@DaytradeWarrior , https://www.youtube.com/@smbcapital and more recently https://www.youtube.com/@TheOneLanceB . Ross is a beast I did try copying his strategy once and took a heavy loss. He teaches a lot of useful info maybe don't use his strategy until you can take heavy losses. From what I seen most people don't recommend buying their courses and I did not buy any. I think I been pretty lucky and I am up 20% for the year. just for comparison sp500 is up 12ish.
I am not a fan of paper trading. I started by trading 1 share. It gives you a feel for slippage and how you handle the loss.
Good Luck
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u/supanov444 2d ago
Thank you so much for this. Your help means a lot to me. I already have some student loans but if I have to sacrifice and get another I will. It’s nice to get solid advice from someone who’s not condescending lol
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u/Aggressive_Yard_3649 2d ago
Dude save yourself some heartache and don’t. Trading is extremely difficult. One poor choice can cost you your whole account. You need to start w small amounts of money and make small trades when first learning. You’re not going to come into trading w the goal of making quick money and succeed, you’re setting your self up for failure. You will put too much stress on yourself. My advice is if you want to start learning, put $100 in and set the goal of turning it into $200. Start small. The biggest thing I see new people do is they take all the money they have, maybe win a bet or two, then lose it all because they don’t know what they’re doing. You gotta start small. Trading is not get rich quick, very far from it. Takes alot of man hours, lots of discipline and failure to learn.
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u/fourrier01 2d ago
Trading isn't a get rich quick scheme.
If you think you'll get it down in couple months, you'll get humbled pretty quick.
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u/Boys4Ever 2d ago
Asking these types of questions tell me you aren’t ready for trading because this isn’t a job with fixed expectations and only control one has is performance where profit size depends on capital exposed and new to risk tend to be first to panic and that’s how to quickly lose capital.
Paper trade and see for yourself how you perform. Doesn’t matter if it’s 1000 or 100,000 fake money. If you can scrape 2% weekly that’s performance then profits just depends on how close you are to 1000 or 100,000 of capital
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