Life will be expensive and stressful. Day traders tend to watch stocks on the computer all day long. Then, as they trade, they are incurring fees for each buy and sell order as well as short-term capital gains on their earnings. This can really add up. Day traders often trade with borrowed money.
Many day traders buy more stocks by borrowing from their brokerage firm.
Day traders need to understand the risks of borrowing from their brokerage firms, because the end result is that they may end up actually getting into serious debt. Watch out for hot tips and expert advice. People know that day traders and aspiring day traders are hungry for a profit. Providing training seminars, newsletters, and Web sites with alleged useful information has become big business. Much of it is just an attempt to get some of your hard-earned dollars.