Interesting and relevant topic. So I work a rotational job where I'm off for half the year. In my time off, instead of goofing off and doing nothing but playing golf or spending money, I've devoted my time to try to learn to day trade. Started this since last October. A few learning points I've gathered along the way:
1) You need time to learn. Do not jump into this head first and rely on it for income right off the bat. You will lose your ass. No one becomes a Pro Athlete from one day to the next, or a doctor, or an engineer. Day trading is like anything else - you must put the time to actually acquire the necessary skills to be successful.
2) Join a trading community. I've joined one and it has helped ALOT. The right place can teach you a lot about patterns that work, how to properly manage risk, help with stock selection and names, and even give real time updates of trades to follow along. It also gives you a forum to ask questions and learn/improve.
3) Try paper trading at first. I know this ain't sexy but it will likely save you a lot of money.
4) Understand that you will likely have to pay market tuition. In other words, you will probably lose money at first until you get better at the game and until you get better at dealing with the psychological mind **** that it entails. You learn a lot about yourself when you're making calls that affect your daily profit/loss.
5) Best to learn it when you don't have the pressure of HAVING to make money from it. This adds to the psychological toll (by an order of magnitude).
All in all, it's a pretty fun thing and can be very rewarding. However, it's a grind and requires a lot of hours with your butt in that seat understanding patterns, preparing for the next day, and most importantly learning to manage risk.
