A short advice clip (likely from a YouTube video) warning against investing all personal savings into day trading. The speaker recommends investing only an amount you can emotionally detach from (example: prefer $1,000–$2,000 instead of $5,000 if $5,000 is all savings) and holding that allocation steady for about six months while assessing business/trading progress.
How much are you planning to invest or trade with? So, for example, if you are starting, and let's just say you are starting with $5,000 and that $5,000 is all the savings you have, I wouldn't recommend you put all that $5,000 in the market. Why? Because a lot of your emotions are going to start playing a role in positions you take, trades you take, and you're just going to keep thinking about, oh, my God, this money I can't lose. So that attachment to money will make it harder for you to take on trades. So I would personally probably go with the lesser amount that I'm comfortable putting in the. I don't have that emotional connection with, in terms of financial connection. And once you pick that number, you have to stay stuck on that number for the next six months and say, you know what? I'm starting with $2,000, I'm starting with $1,000, and I'm going to stay consistent with this amount until my business starts seeing some consistent growth and I start seeing some results. I will not look to add more money.
