The requirements for day traders are straightforward:
- You need knowledge of the profession. There’s indeed a lot to learn, but it’s not mystical. If you put in the hours, you can acquire a solid foundation of knowledge over some months.
- You’ll need basic computer gear. When I was a day trader cub, I thought it was cool to have ten monitors and a powerful computer tower. I discovered it was overload. Now, I use a standard laptop and just three monitors.
- You need a day trading brokerage account. U.S. accounts require a minimum of $25,000 to be maintained in the account, but you can open a foreign one with $500.
This brings us to the last requirement: the right applied attitude.
