Day Trading

Trade first on a simulator to test your theories at Investopedia.com

When you start making "virtual" money, then you can risk your own.

http://simulator.investopedia.com/home.aspx

http://investopedia.com

http://investing.sitesled.com/

http://futures.tradingcharts.com/learning/

Blogs

http://winners-and-losers.com/

Training & classes

http://bettertrades.com

http://investedcentral.com

ETF news and analysis

http://ETF-World.Org/

Article: Trading is Timing

http://www.investopedia.com/articles/trading/06/TradingisTiming.asp

Stock Charts

Bigcharts.com

http://www.stockTA.com

http://www.stockcharts.com

http://www.incrediblecharts.com…

www.prophet.net
americanbulls.com

Books on Investing

"Which Is Better, Buy-and-Hold or Market Timing?"

"Do You Have What It Takes to Be a Market Timer

The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, EdwinReminiscences of a Stock Operator

Lofton, ToddGetting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

O'Neil, William J.How to Make Money in Stocks

Oz, TonyHow to Make Money From Wall Street

Rotella, Robert P.Elements of Successful Trading, The

Schwager, JackStock Market Wizards

Day trading is tricky, whether your doing it for real or as an exercise like you are doing here. The primary problem is that over very short periods of time, individual stocks as well as the stock market indexes can be extremely volatile. You might as well throw darts at a dart board marked out with all of the stock symbols because it pretty much is sheer luck over such a short time frame anyway.

I'm not familiar with CNBC's Million Dollar Portfolio Challenge, so I don't know what their investing time horizon is like for this task. Depending on how long that horizon is, I would probably make different sets of choices for your million dollars. Over a longer horizon, I would probably do some research and then pick 20 stocks, $50,000 each, and then let them sit there and do nothing for several months as that is, historically, the best way to get a return on investment. Too much "in and out" of the market would kill you on commission costs alone anyway.

I use Scottrade and love it! The stream from Scott works great. I don't know about BofA, but I suspect it's comparable. I'd think again about using Scottrade, they do one thing only and are very good at it. BofA does hundreds of things, some good, some not so good.

Based upon your diction I would suggest you start with some research. Try http://www.marktetstock.net for starters.

You better know what you're doing and have been doing for a while. and thay you understand the maket and the rules governing it.

Here are four rules you must have, if you don't you will loose money
1 – A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 – Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 – A written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested.
4 – A full and complete understanding of the rules & regulations of the industry.

Here are some of the rules that I follow, in additiona to the four cardinal rules above.
Never buy or sell based on anyone's, including your own, market predictions.
Stick with up-trending stocks.
Never buy stocks in danger of filing for or actually in bankruptcy.
Never average down.
Always sell when management cuts sales or earnings forecasts.
Only buy stocks with real sales and real earnings.
Always diversify between industries.
Don't buy stocks just because they've gone up.
Never sell a stock because an analyst proclaims it is overvalued.
Always look for companies with new ideas, new styles or new products.
Orders after an execution – a “stop loss”
No security is to be purchased at a price that is below the 50-day moving average price.

Good luck, based on your question, you're going to need it

To me, minimum is $30k. $150k to $200k is a good start. so much money? yes it is. you need software to consistently watch the market AND detecting the signal, subscribe to numerous newsletter and good monet management (such as stop losses, limiting profits etc).

you are not just investing here, but have a business operations to take care of. without proper tools, how can you expect to compete with all the professional traders worldwide? and on Daily Basis??

It is a good way to make a small fortune — if you start with a large one.

So you've been short term trading a highly speculative market and losing your pants. Now you want a risk free method to trade this market? Are you seeing an issue?

Definitions time folks:

Savings – reserve funds invested in a safe vehicle to protect ones assets and receive a small return in exchange for giving up current purchasing power.

Investing – putting capital at calculated risk in order to achieve higher returns.

Trading – Speculating on short term movements of securities prices, involves high levels of personal risks but provides benefits of providing extra liquidity & effecientacy to securities market.

Now professional traders, a) have the financial ability to withstand prolonged periods of losses, b) understand there is no "perfect" method, and c) even if they had found something even bordering on effective, wouldn't distribute it freely as it would dilute the efficacy of their method (And with the current state of the mortgage markets we're learning just how falliable even those "propietary" methods can be).

Sounds like you need to back up. Start building your savings, then your investments. After that, if you must, you can start a trading account. But, honestly I've made far more in two years of investing, than I did in 10 years of trading. (Simple math lesson one, if a stock drops 50%, from that point it has to go up 100% for you to break even — meaning minimize your loses is more vital than maximizing your gains).

I do the occasional day trade in my td waterhouse account. I keep enough cash in the account to cover my trades, so they don't have a problem with the day trades.

Some of the major trading websites offers initial 30 day or first 20 trades free….you can choose them and see how the service with them goes….I am sure you will find one of them better…good luck