As you already know that depends on how much your bills are. Trading can be a great way to grow your wealth if you enjoy doing it and are good at it. To come into this market and throw $10,000 at it which for the majority of people I have come across wanting to make a living off of say $10,000 that is often the majority of their savings. (Don’t know your situation though.) I am not in good faith able to advise them to dump that $10,000 into trading.
Now let’s get into some percentages so you can do the math. If you wanted to trade very conservatively you could easily target a 15% ROI each year. This type of return is doable and it won’t require a lot of trading or a lot of stress.
You do not need to take a conservative approach though. You could easily target a 25% ROI which is also very achievable.
if you want to trade a lot you could average even a 100% ROI but this would be very risky and most likely require scalping. It would require several hours each day of trading and most new traders are not anywhere near psychologically prepared for this type of trading let alone have strict enough rules to even make this a reality. Reality is almost all people who attempt to trade lose their money. End of story.
The average mind is not prepared for the type of environment that the market presents.
**** There is a great thread called the 10K gamble that you can check out. He provides a legitimate approach to the markets. But note in the title it says gamble. I believe he is close to 100% ROI though to be honest the amount of time it has taken for him to generate that 10K would not be enough to pay my bills in my situation. This is not a diss, just my living expenses.
But I would like to pose a question to you. Instead of asking could you survive off of a trading account of $10,000 why not ask yourself how can I prove myself consistently profitable so that I gain access to sufficient capital for my needs?
Once you can seriously demonstrate that you are a successful trader you would be surprised how much money can come your way if you shop yourself around. ( google prop or trading firms.) Even people will give you a little if you have a track record and believe me if you do well with their first deposit there will be more to come.
If you read all of my previous posts you can see I went from trading a small <$10,000 account to having an advance given to me that covered my living expenses for the year (at that time) and $400,000 to trade with.