The fastest terrain mammal on earth is the cheetah. It can move at speeds up to 75 miles per hour. In the swift paced forum of trading stocks and finances in general, the day trader is akin to the cheetah, making his moves comparable to cat like movements and brain blowing speed, leaving the trend trader behind in abject bewilderment. Having the knowledge to day trade can be taught, but having the intuitive talent to pick and choose the appropriate stocks and be aware of when to move them is almost certainly something you are either born with or not.

Of course, it goes devoid of saying that having the skill to day trade involves understanding the many types of trading, as well as the advantages and disadvantages of every type. It moreover helps to recognize that the term "day trader" should not be predestined to imply that these traders just race by the seat of their pants, completing hit or miss, random trades without careful consideration. There is a lot of expertise and finesse that goes into knowing how to day trade, so you can generate good trades and be successful, The ugly side of this business is you can make a few bad trades, lose all of your trading capital, and no longer be able to trade.

To get started as a day trader, it is certainly advisable that you be comfortable with the stock market in general, preferably working closely with a broker, or even better find an expeienced day trader as a mentor. Another very effective path is to select a trading system that provides training and an online forum of day traders to raise questions and seek guidance. Begin by making "paper only" trades. It is highly suggested to use a trading system simulator. It is critical to document and evaluate pretend trades for performance. Be familiar with the ins and outs of the market in general before starting out on your own. Be aware of the day trader regulations, together with how to compute day trade buying power (DTBP) and what the new minimum equity requirements are for day traders. Awareness of margin guidelines is a must. Be knowledgeable about which market you will trade, and which is the most agreeable to day trading in general. Also identify which financial instrument (currency, futures, commodities, stocks, etc.) that you plan to trade, some of which are better dealt with by the day trader, and others are better off handled in the more traditional market. As stated before, it is paramount to use a trading system that is best suitable for the day trader. You must evaluate which program best suits your needs and trading experience.

The life of the day trader can be relatively sedate, or it can turn into a full blown chaotic windstorm in the period of just a few hours on any certain trading day. Economic, trade and industry news may cause an assault of trading activity in the markets that may influence your every trade. You must be capable to roll with the punches, know your financial limits and perform to your own strengths. If you possess the knowledge and the nerves, being a day trader can net you vast, fast returns. Remember, in life, there is the understanding how to, and the understanding why you do it. Understanding how to day trade may appear simple to those suitable to the career, but they might have more problems answering the why.

Create a trading plan, then execute your plan with complete dedication! If you can keep to your plan with discipline, you will be well on your way to being a consistent, successful day trader.