How to Start Day Trading
Select a realistic amount of money to invest.. Invest at least $25,000 USD to qualify as a pattern day trader.. Purchase stocks with Computershare to invest in many companies.
Steps
Select a realistic amount of money to invest.
Select a realistic amount of money to invest.
Invest at least $25,000 USD to qualify as a pattern day trader.
Invest at least $25,000 USD to qualify as a pattern day trader.
Purchase stocks with Computershare to invest in many companies.
Purchase stocks with Computershare to invest in many companies.
Trade stocks through company websites to manage fewer investments.
Trade stocks through company websites to manage fewer investments.
Purchase stocks and pay the required transaction fees.
Purchase stocks and pay the required transaction fees.
Evaluate various brokers to select one that works for you.
Evaluate various brokers to select one that works for you.
Analyze the financial practices of various brokerages to compare them.
Analyze the financial practices of various brokerages to compare them.
Contact a brokerage firm with questions about their business practices.
Contact a brokerage firm with questions about their business practices.
Open an online account with the brokerage of your choice.
Open an online account with the brokerage of your choice.
Invest no more than 1–2% of your account on each trade.
Invest no more than 1–2% of your account on each trade.
Wait 15–20 minutes after every trade to see how the market moves.
Wait 15–20 minutes after every trade to see how the market moves.
Utilize the "scalping" strategy to make quick, small profits.
Utilize the "scalping" strategy to make quick, small profits.
Try the "momentum" strategy if you want to stick with 1–2 stocks.
Try the "momentum" strategy if you want to stick with 1–2 stocks.
Select multiple trading markets to invest in.
Select multiple trading markets to invest in.
Learn about the markets you're day trading in.
Learn about the markets you're day trading in.
Follow specific stocks to note idiosyncrasies and market trends.
Follow specific stocks to note idiosyncrasies and market trends.
Pick a successful trader to learn from as a mentor.
Pick a successful trader to learn from as a mentor.
Analyze your trades to improve your trading plan.
Analyze your trades to improve your trading plan.
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