At this point, I'm profitable for most months, but trading was never my main income source. Recently I lost my job in marketing, but more importantly, I lost interest in that career a long time ago and would like to focus more on trading. Just to make it clear, I'm not a newbie who thinks trading is a shortcut to riches. Actually, I'm not interested in being rich and owning luxury cars and watches. I despise that lifestyle. I just want to make $3k a month on average.
I'm curious, how much do I need to have in my trading account to make that amount? Ideally, I'd like to hear realistic opinions, from people that are making that $3k or more. IMO, it's around $30k or so.
Another important question, how safe is holding $30k in an account with a broker? I'm talking about those most popular brokers, not shady ones. I was always afraid to deposit more than a few thousand because I didn't trust them.
My trading style:
I consider myself a price action trader, classical patterns trader, and breakout trader.
Time frames: I use 1W, 1D for general trend and 4h, 1h 15m to execute trades.
If a trade quickly advances in my direction, and starts looking overextended, I'd usually take profits before retracement. Such trades can last a few hours. I often hold trades overnight and for a few days. So, we can say I'm a swing trader who's looking for smaller swings (usually less than 100 pips).
I'm curious, how much do I need to have in my trading account to make that amount? Ideally, I'd like to hear realistic opinions, from people that are making that $3k or more. IMO, it's around $30k or so.
Another important question, how safe is holding $30k in an account with a broker? I'm talking about those most popular brokers, not shady ones. I was always afraid to deposit more than a few thousand because I didn't trust them.
My trading style:
I consider myself a price action trader, classical patterns trader, and breakout trader.
Time frames: I use 1W, 1D for general trend and 4h, 1h 15m to execute trades.
If a trade quickly advances in my direction, and starts looking overextended, I'd usually take profits before retracement. Such trades can last a few hours. I often hold trades overnight and for a few days. So, we can say I'm a swing trader who's looking for smaller swings (usually less than 100 pips).