Don't do it.it takes a lot of practice and time.if you must, do some paper trading first for about 3mos.yes you do have to have at least $25grand to open an account and be considered a day trader. i do it and have alot of stress,
sh— can happen faster then you can blink.you need enough money to have a cushion over your $25grand bank,because if you fall below that amount,the broker will change your status to non-day trader.that means you will only have a 2-1 margin for spending,but if you can maintain your day trader status the benefits are great,the broker will give you a 4-1 margin.that means they will front you $75,000 grand on top of your $25grand to spend.think twice before you day trade.i think you have to be a special type of person to do it.apparently i'm not,cause i can't make much.
sh— can happen faster then you can blink.you need enough money to have a cushion over your $25grand bank,because if you fall below that amount,the broker will change your status to non-day trader.that means you will only have a 2-1 margin for spending,but if you can maintain your day trader status the benefits are great,the broker will give you a 4-1 margin.that means they will front you $75,000 grand on top of your $25grand to spend.think twice before you day trade.i think you have to be a special type of person to do it.apparently i'm not,cause i can't make much.
remember the two biggest problems with investing is FEAR and GREED. so keep your emotions out of it.
good luck
p.s.if you are considered a daytrader,you can trade multiple times, as many times as you want in a one day period. remember the broker charges you a fee for each trade,i.e a buy and a sell of the same stock,that's considered 2 trades. and if you are a swing trader you can only trade 3x a week.
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