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The first step in day trading is to make sure you have the proper equipment. A good computer is a must. If you already have a computer then there is no need to rush out to buy a new one. Just make sure your computer meets the following specifications. 1) 1000 MHZ 2) 52 MB of ram 3) 100 GB hard drive 4) A 17" monitor 5) A high quality video card If you computer doesn't meet all of these standards you can simply opt to upgrade. In some cases an upgrade will be a lot cheaper then purchasing a brand new computer. Either way, having a fully functional computer with the appropriate speed and efficiency is vital if you want to be a successful day trader. You will also need a high speed internet connection. It is paramount that you be able to get and send information quickly throughout the day. Otherwise your trades might be negatively affected and you could lose massive amounts of money. As a day trader, your main objective is trade stocks at a rapid pace in hopes of making a small profit on each trade. Without a high speed internet connection this is virtually impossible. These days DSL is extremely affordable. You can get it for about $50 a month. In some places you might be able to get it even cheaper than that. The third thing you will need to start day trading is access to real time data. There are a number of different firms out there that can provide you with this information. Usually there will be a few involved to access this information. The fee can be as low as $75 a month all the way up to $300 a month. You need this data so you can stay up to day on market news, stock quotes, charting and much more. Next up you will need a way to process the purchasing and selling of orders online. This is known as an online order execution system. You can find this through online brokerage services such as Etrade and waterhouse securities. Online brokerages are the most commonly used services for trading. Last but not least you will need money. You must have money to invest in the market to be a day trader. You can either borrow this money or use your own money. I would suggest using your own money as borrowing money makes day trading riskier than what it already is.
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