
I do not know the laws in Canadian Stocks. You should consult a lawyer before you daytrade in Canada.
If you daytrade in the United States of America by Law you will get a Credit Line of at least $100,000.00 (This is called a margin account)
However, if you don't have assets of at least $75,000.00 (For example, a $25,000 car and a $50,000 property) that you can sell in case things go wrong I strongly suggest you NOT TO DAYTRADE ON MARGIN WITHOUT LIMITING YOUR LOSSES TO A MAXIMUM OF 25% (This means you will only lose your original $25,000)
If you want I can email the Daytrading Laws.
Do not listen to cgimwei.
You need at least $500 to open a brokerage account in Scottrade.com
Example 1:
You cannot invest all your money in just one company. Therefore we are going to invest $225 in each company.
You buy 10 shares for $225 in Wal-Mart
You buy 10 shares for $225 in Target
Let's say you got lucky and both stocks actually went up 5% that day.
Your stocks are now worth $236.25 ($11.25 Profit)
However, you already paid $7 when you bought them and you need to pay another $7 when you sell them
Therefore in this example you actualy lose money.
You also need to consider you have to pay taxes on your capital gains. (Consult your Accountant before you start daytrading)
If you need more detailed advice about daytrading drop me a line.

Companies hiring trainees, in my experience, generally want people straight out of school, preferable with athletic credentials. They feel this means that the trainee has physical stamina and is competitive.
Experience means working on the proprietary trading desk of a firm, not sitting at home with a personal account. That's a way to develop bad habits. It's a different word when you're dealing with size.
Besides, if she's making money in her own account, why would she want to work for somebody else? So, I'm assuming she's not making money. So, why would a firm want to hire her.
By the way, "churn and burn" is a term that applies to retail stock sales people, not traders.
Thank you


Some of the more commonly day-traded financial instruments are stocks, stock options, currencies, and a host of futures contracts such as equity index futures, interest rate futures, and commodity futures.
Day trading used to be the preserve of financial firms and professional investors and speculators. Many day traders are bank or investment firms employees working as specialists in equity investment and fund management. However, day trading has become increasingly popular among casual traders due to advances in technology, changes in legislation, and the popularity of the Internet.
Trade Frequency
Although collectively called day trading, there are many sub-trading styles within day trading. A day trader is not necessarily very active. Depending on one's trading strategy, the number of trades made in a day may vary from a few to hundreds.
Some day traders focus on very short or short-term trading, in which a trade may last seconds to a few minutes. They buy and sell many times in a day, trading very high volumes daily and therefore receiving big discounts from the brokerage.
Some day traders focus only on momentum or trends. They are more patient and wait for a ride on the strong move which may occur on that day. They make far fewer trades than the aforementioned traders.
Overnight Position
Traditionally it is suggested day traders should always settle their positions before the market close of the trading day to avoid the risk of price gaps (differences between the previous day's close and the next day's open price) at the open. Some day traders consider this to be a golden rule to be obeyed at all times. Some day traders, however, believe they should let the profits run, so it is acceptable to stay with a position after the market closes.
Day traders often borrow money to trade. Since margin interests are typically only charged on overnight balances, the extra costs discourage them from holding positions overnight.
Profit and Risks
Because of the nature of financial leverage and the rapid returns that are possible, day trading can be extremely profitable, and high-risk profile traders can generate huge percentage returns. Some day traders manage to earn millions per year solely by day trading.
Because of the high profits (and losses) that day trading makes possible, these traders are sometimes portrayed as "bandits" or "gamblers" by other investors. Some individuals, however, make a consistent living day trading.
Nevertheless day trading can become very risky, especially if one has poor discipline, risk or money management. The common use of buying on margin (using borrowed funds) amplifies gains and losses, such that substantial losses or gains can occur in a very short period of time. In addition, brokers usually allow bigger margins for daytraders. Where overnight margins required to hold a stock position are normally 50% of the stock's value, many brokers allow pattern day trader accounts to use levels as low as 25% for intraday purchases. This means a day trader with the legal minimum $25,000 in his account can buy $100,000 worth of stock during the day, as long as half of those positions are exited before the market close. Because of the high risk of margin use, and of other day trading practices, a day trader will often have to exit a losing position very quickly, in order to prevent a greater, unacceptable loss, or even a disastrous loss, much larger than his original investment, or even larger than his total assets.
Even when a position has made a profit, the trader has to offset the transaction costs and the interest on the margin. It is commonly stated that 80-90% of day traders lose money. An analysis of the Taiwanese stock market suggests that "less than 20% of day traders earn profits net of transaction costs".
Day trading is considered a risky trading style, and regulations require brokerage firms to ask whether the clients understand the risks of day trading and whether they have prior trading experience before entering the market.
Im About To Take The Plunge And Day Trade From Home Full Time. Does Anyone Have Any Advice To Share?
Are there any day traders out there that have comments? Please share your experiences and tips
according to the insurance agent that responded you don't think that i can qualify as a 1099er self employed health care plan? i've seen a few out there on the web and their rates didn't seem that crazy
also $30,000 is the balance i maintain in my account i withdraw 2/3s of my earnings in the form a of a check after everyday i trade.

Also, the surest way to pile up losses is to expect your trading to pay the bills.
Also, the five day period: is that Mon-Fri, or is that five consecutive trading days?


You can't always rely on perceived wealth as an indicator of proficiency either. Could be a trust fund guy who trades stocks as a hobby and makes no real money from his trades.

Computerized big guys will rip you off in seconds. Your broker will take the rest of it in fees.
Regarding your other concerns, some of us do well by doing good. I've been giving investment advice for 20-years to long-term subscribers. I have the time to do it because I DON'T day trade. I spend my time helping people which is what I like to do (and I get paid for it).
I can tell you are a serious guy. Do yourself a favor. Invest long term in a diversified portfolio of mutual funds. Expect 12-20% annual returns. Max out your IRA and 401K contributions. ,

Premarket trades are 'counted' as occurring on the day they are executed. Check with your broker to see how they handle after hours trades.

2) No.
VERY IMPORTANT NOTE:
You need at least $25,000.00 by law to daytrade.
If you don't have $25,000.00 in your Scottrade account I STRONGLY SUGGEST YOU NOT TO BREAK ANY SEC LAWS.
You are a little confued about this rule.
You can make 1000 trades in a day if you want and if you have enough money.
However, DAYTRADES ARE A DIFERENT KIND OF ANIMAL.
A Daytrade means you buy Acme on Monday and you sell Acme on the SAME DAY.
If you buy Acme on Monday and you sell until Tuesday (Or the next decade) you are no making any DAYTRADES.



