If you want to make money, do "this" starting tomorrow...!!!
hey I was doing that too until i got a warning about being a day trader so I sold some covered options for .39 a share now I got my 1000 shares back got to have 25,000 they said will have to work up to that
You can perform day trades but the frequency is limited and if you exceed that limit, you are labelled a pattern day trader and get a margin call to bring your account up to the $25,000 level. You don't have to put the $$$ into the account but you cannot buy anything until margin is met. You can sell positions. You just can't buy.
Pattern day trader is a term defined by Securities and Exchange Commission to describe a trader who executes 4 (or more) day trades in 5 business days, provided the number of day trades are more than six percent of the customer's total trading activity for that same five-day period. As the trader is exposed to the danger of day trading and intraday risks, it is subject to specific requirements and restrictions. http://en.wikipedia.org/wiki/Pattern_day_trader