how does one get into day trading with really no bankroll?

Question

i have always followed stocks since a young teenager as a hobby; never really got into trading. but now as a young adult, there are just times when i know a stock is going to move (i.e. official release of iphone boosted apple's stock nine dollars that day but we all knew it was coming). that's a lot of money over a hundred or thousand shares. but how do you get into the actual day trading process? as a college kid, you can already assume i have next to nothing in cash. are there ways to buy and sell stock within a week with practically no bankroll? or am i just doomed and need the money to make some

Answer 1

Ah the lure of daytrading! The funny thing about watching the market is that you always remember the trade you should have made. There is something professionals say all the time when someone starts discussing a trade they wanted to make you will be interrupted with "shoulda, coulda, woulda".
Unfortunately you are right, you do need money to day trade and as a previous writer noted you need $25k for a broker to allow you to consistently day trade. I believe that is a Fed Reserve requirement not SEC. Note that I say consistent though. The broker can't prevent you from selling a position you recently bought but if they identify you as a daytrader you will have to bring your equity up to $25 before they let you do it again.
Try the top 10 trader thing below or any kind of honest papertrading. And while your at it try a long term paper portfolio for kicks. I'll bet in a year you'll wish you really invested the long term ideas - its amazing!

Answer 2

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Answer 3

Day trading takes a large bankroll to make it worthwhile. Another option to consider if you wish to get in and out of a security in a short period of time is options. You can leverage a large amount of stock for a lot less money. It is more risky because options prices move up and down more quickly than the stock (as a percentage of the investment). They also can lose the full value of the option if too much time has elapsed.
Consider only large companies and options with high volumes and always use limit orders.
They are offered through online brokerages such as scottrade and etrade.
Use only money you can afford to lose.

Answer 4

This Site Might Help You.

RE:
how does one get into day trading with really no bankroll?
i have always followed stocks since a young teenager as a hobby; never really got into trading. but now as a young adult, there are just times when i know a stock is going to move (i.e. official release of iphone boosted apple's stock nine dollars that day but we all knew it was coming)....

Answer 5

You cannot get into day trading without a lot of money because day trader broker charges commission fees way more than regualar investor!
In order to be a day trader sitting somewhere on your computer, you will need a real time trading program to do day trading or else all these stocks or ETFs price are delayed in few minutes! Real time trading program cost money monthly!

Here's a link to Yahoo! real time trading program and cost you about $10+ per month!
http://billing.finance.yahoo.com/realtime_quotes/signup?

You will need to find a job and make more money to do day trading!

Answer 6

You could convince someone who does have money to let you invest their money. This is no easy task, usually people with money need to see some proof that you know what you are doing. for now, you might want to create a portfolio with "play" money - to fine-tune your skills. You can do this at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.

Here are this month's best traders:

http://www.top10traders.com/Top10Standings.aspx

Good luck.

Answer 7

This penny stock service has years of proven experience. Ultimately it is the best service for beginners to use https://tr.im/9EV1q
You will have to wait between 3 and 10 days to get into the system in most cases. When I signed up it took 8 days. I wished it was faster, but if you can wait a week or two to start earn life changing money than you will have what it takes to make it in this business.

Answer 8

In order to daytrade you have to have $25,000 in capital otherwise the SEC won't let you do it. You could try trading Forex though. Most brokers allow you to open an account with $250 an give you leverage up to 400 times.

Answer 9

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 10

you need a LOT of money in reserve. Like around the 10k range. And for the suckers that bought apple on the hype nice move morons been in a tailspin ever since.