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Proceed with caution. A wise strategy would be to spend some time each day studying on-line information and evaluating techniques and strategies. Once you feel reasonably comfortable with the basic underlying trading concepts you should begin to trade fictitiously. In other words, don't quit your current job. Make and record your trading decisions without using real money. Keep track of your results and tally up your gains and losses at the end of each trading session. As long as your losses exceed your gains you should refrain from putting in any real money. E*Trade offers an interesting and unique on-line trading game that can help you get started without investing any real capital. If and when you get to the point where you are consistently able to generate gains and minimize losses, then you may be ready to start conducting some actual trades. Keep in mind the advice that you should never utilize money for trading that you cannot afford to lose.

Once you are sure that you understand the risks of Day Trading and are interested in trying your hand at it we recommend that you begin on a part time basis. If you are able to maintain a steady income apart from Day Trading you will minimize your stress and financial exposure. This may require that you change your hours of work so that you may take advantage of the prime day time trading hours. While there is a significant movement afoot to extend the trading hours of major exchanges, at this time most trading opportunities exist during normal trading hours.

Your first step will be to determine if you will affiliate yourself with a trading firm that specializes in Day Trading or if you will attempt to conduct on-line trades from your home on your own. At this point, there are still numerous mid-sized cities in this country that are not served by Day Trading facilities. Many serious Day Traders make the decision to relocate to a location where they can go to work each day in a trading room. This is a major step and should not be undertaken lightly. However, if you are truly determined and have few attachments, it is an option. Many Trading Firms offer professional home based programs. The bundle of services offered to home based traders are similar to those provided in their trading rooms. Review our listings of on-line resources for more information.

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Included in our resource links are a number of firms which specialize in training and seminars for Day Traders. It is important that you learn all you can prior to entering this industry. Some of these can be quite expensive. You would be well advised to conduct significant personal research by utilizing on-line and traditional resources. Do not rely on a single source for you information. Gain as broad a prespective as possible.

As you evaluate potential trading firms and brokerage houses, ask a lot of questions. Compare costs and services provided. There has been significant price pressure on electronic brokerage firms in recent months - a trend that is likely to continue. Some of the cheaper firms are offering prices as low as $5 or $6 dollars per transaction. This compares to traditional fees in excess of $25 per trade for larger full service firms and $15 or so for discount firms. Remember that commissions will be a significant factor in the profitability of your trading activities.

Being a professional Day Trader requires a unique personality. It demands a high degree of discipline and an ability to live with the intensity and pressures of the trading room day in and day out. Over time this can become quite grueling.

Increasingly, many Day Traders, burned out by the pressure and disenchanted with the short term and inflexible nature of the Day Trading system are opting to trade from their homes on a part time basis. By executing fewer trades, these traders save money on commissions. And by having the flexibility to wait a few days or even a few weeks for the price movements they require to turn a profit on their stock holdings, they relieve themselves of the intense pressures experienced by true Day Trading professionals whose objective is to close out all of their positions by the end each day.

A Day Trader's life revolves around a computer screen - the link to real time information. Day traders live and die by information. Decisions are made on the basis of small and seemingly insignificant fluctuations in the price of their holdings. Therefore, if you intend to trade on-line from your home you will need to equip yourself with a good computer system. It doesn't have to be fancy or expensive, but it should be equipped with a high speed modem. You will also need to have a host of information resources at your fingertips. Some of this information is free - some requires a subscription. Be selective in what you subscribe to initially. You will come to learn over time what is valuable and what is not.

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