The question is to make $5,000 in a month, not in a day. With your calculation, you will make $150,000 in a month. If the target is to make $5,000 in a month and if you use 1% per day, you should make a profit of $167 daily means that you have to start with only $17,000.
The big question, is it possible to earn 1% every day in a month without any single loss?
This is one million dollar question because no one can give you perfect prediction about this you need some very good skill and very good knowledge of trading but with this all luck is also very important because with these things you can't able to do any good thing and not able to have any profit.
OP is just a beginner most chances he will lose his all capital because he needs something extraordinary for this income which he is need monthly better he needs some good education about this otherwise he can lose all because it's happen with many they lost their all funds just in few days as they are going to take risk like this.