Day Trading

The most important thing to know about day trading is most people lose money. I would do some research before I got into it.
Especially since you apparently don't understand investing. If it were easy, why would people go to work? Learn how to invest the right way and prosper!

Yes if you do this 4 or more times in a week, however, you will be tagged by the SEC as a pattern day trader. This just imposes special trading rules on your account. Mainly, you must maintain a balance of $25,000 or more at all times. Since you are talking about investing $140,000 then this wont be an issue. Other regulations pertain to margin accounts and non-withdrawl requirements. Also remember that profits made by day trading are subject to normal income tax, they don't receive the special tax treatment of long-term capital gains. But the short answer to your question is yes, you can do this.

If you want to daytrade in the United States of America the answer is yes.

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.

The situation you describe is not "day trading."

According to the NYSE definition of "day trading" the sale of an existing position from the previous day is a liquidation. The repurchase of that position is the establishment of a new position. It is not subject to day trading margin requirements.

If you are using a cash account, settlement rules would still apply.

You should pick only 70.5 and 67.5 to calculate your profit. Just forget about adjust prices for those 4 days.

"Only init 4 profit" seems like a nice person, and I have to say I love the name. I would like to add to what he said about the 3 day settlement period. You can buy and sell all you want as quickly as you want you just have to meet SEC requirnments. There are basically two laws that apply here, the settlement one and a day trading one. the settlement one has been covered by "only init 4 profit" and the daytrading one just states that no more than 3 day trades can be made within 4 business days. Now the law also says that you can have permission to get around them if you meet certain requirnments, they simply are to have a margin account type with a minimum of $25,000 in the account at all times. If it goes below 25,000 you have to stop making more than 3 trades within 4 busibness days untill it gose back over the 25,000 mark. also by having a margin account you never have to worry about the settlement dates no matter what the account value is.

Also if you are looking for an online broker, I use Scottrade, they are very cheep $7 trades for market and limit orders.

Hope this helps.

As long as the money stays in the account you can use it.

Wow, a "novice" daytrading futures, that's like riding a motorcycle 'flat out' on the first try. First, find a trend, and as a beginner, find a big trend (oil or corn perhaps) and go with the flow. (never buck the trend, never)

The traders have all the news well before you do, so if you are trying to nickel and dime your way to riches by picking a little spurt to long here or a little sag to short there, don't–they've already done it and moved on by the time you spot it.

Also, be very, very careful of the proportional share you trade with, compared to the larger account value. I was trading potatoes once, um, a while back, and some rich guys tried to steer away from a long-established trend. I got a margin call during one of their 'force it' moves and the brokerage confiscated my whole account value and sent me a bill for the rest. Instead of paying off my mortgage, I was paying on my debt for two years. Without the extra traffic, the general trend was right and I would have profited nicely–but I didn't have enough reserve for when it suddenly went radically against me. I do have one consolation, though, something like 90 millionaires got caught in a still larger default, and several dozen went to jail.

Feel lucky that your account balance is "slowly decreasing"–things could be much worse. Check the charts for agricultural spreads and straddles, many of the patterns I used to rely on don't work any more, but see if you can find some of your own, then play it safe. If nothing else, go to currencies and short the dollar and go long on almost anything else. Good luck.

Yes, they're just mini futures contracts (they are not options on futures).

E-mini's trade just like the full size contracts, except the dollar value is smaller and so are the margins. Everything you do with a futures contract you can do with a mini contract, you'll just make/lose less money had have lower margin requirements.

I strongly suggest you to leave the stock trading to the Experts.

If you need help with your investments there are many Financial Advisors or Portfolio Managers that can help you.

If you trade on your own it is very likely you will lose money.

I can advice you too.

If your car brokes you don't fix it yourself. Do you?