Professional trader, Dan addresses the complexities of managing and diversifying funds for an experienced trader. He explains the reason for allocating capital between different types of accounts, such as day trading, swing trading, and long-term holding, based on an individual's level of confidence and personal circumstances. The importance of setting aside funds for taxes is emphasized to avoid financial trouble, especially in volatile years. Dan also shares his approach to deciding when to stop increasing trading position sizes and start diversifying into other investments like real estate. Personal factors, such as family responsibilities and your stage in life, play a significant role in these decisions.
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How should you allocate funds for day/swing trading?
Professional trader, Dan addresses the complexities of managing and diversifying funds for an experienced trader. He explains the reason for allocating capital between different types of accounts, such as day trading, swing trading, and long-term holding, based on an individual's level of confidence and personal circumstances. The importance of setting aside funds for taxes is emphasized to avoid financial trouble, especially in volatile years. Dan also shares his approach to deciding when to stop increasing trading position sizes and start diversifying into other investments like real estate. Personal factors, such as family responsibilities and your stage in life, play a significant role in these decisions.
