Day trading does not have a definite income per day or month. This is because there are a lot of external factors in play. As you go for a day trading training day trading training, you expect to get back your money. This article will disagree on the most information you have read on other sites and get back down to facts that every amateur needs to know before diving in trading head first.
Working for someone else
Most of the amateurs are not independent workers. I would say that it is important to work for someone in the beginning to get the right mentorship. If working for a company, most of the profits will go back to the company. On the other hands, you need less capital to launch. You get to use the company computers and software which otherwise are a huge expensive if starting on your won.
So what is the average income when working for a company?
The average amount a day trader earns when working in a company in New York is 500k. To a road trader, the earning falls back to 200k.
Benefits of working for a company includes one work for a salary there are health benefits, no risk of personal capital and it is prestigious to work in hedge funds.
The cons are one has to work with clients, face office politics and only reap a small percentage of the total profit.
Day trading for a prop firm
This is like living on the edge. Just like in the company, the firm allows you to work with their capital and have access to their system. However, there is no health care in the firm.
Other benefits include you get to slit the profits, be your boss, low commission rates and an increased profit margin.
The cons include one may have to use his/he own capital for a start, limited mentorship and training, the risk of personal wealth, lack of career progression and make money only on what you bring in.
Personal day trading
From the information above most people will prefer this option. You are right and wrong. For amateurs you stand to lose your money but if you have experience and working trading strategy this might be the real deal.
You need to raise your capital but enjoy all the profits. You get to be independent and more time for you and your family. If you love being your boss and find it compelling to work that way, find a mentorship and run trading on your own.