I'm in.
Where do I send my money?
He started at TDAmeritrade with their Thinkorswim software.
Seems like a good starting point if you want try your hand at it.
You do need $25k minimum for day trading, and you can't trade for anybody else.
The next step may be Lightspeed software, it's a paid subscription software.
It all sounds super easy when you boil it down "buy low sell high!" and "you only need half a percent!". From what I understand so far, you find companies with the trade volume needed then look at the stock data to determine it's direction. If it has a good chance of decent growth in the time span you need, then you buy. You may need to do a few trades to get the volume you need for the day, meaning you may need to look at more than one company/stock. Using the minimum $25k example and 2x margin, you could buy 750 shares of a $100 stock, and all you would need is a 43 cent gain in order to make a $300+ profit (after fees and/or margin interest, before tax).
I have not actually done any of this day trading myself, I'm just posting about what I've observed.
I do know he customized the software settings and setup emergency high/low sell orders etc. (he still manually controls most trades).
The margin you qualify for varies depending on investment, and I think day trades are more than overnight (which I think maxes at 4).
I do want to clarify, he is not averaging $300 a day on a $25k investment. It is more, but also not in the $100k+ range.
It's one reason he is not a professional trader (yet), and also why he is using only a 2x margin right now.
I am saying that with $25k and a 2x margin with a 0.4% profit you can make $300 a day.
Seems easy watching someone else do this, but I don't know how easy/hard it actually is.
There is an option to do fake "paper" trading, a no risk way to try it...I have not done this either (yet).
Currently it would take me a very long time to save up $25k, so I'll keep watching before I risk that kind of money.