How to Day Trade Online

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To day trade online, find a suitable platform for trading, check the fees for each trade, get access to level two quotes, and start trading stocks. Make sure the qualifications for trading on different platforms are met with help from an investment portfolio manager in this free video on investing.

Part of the Video Series: Investing & Retirement Funds
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Video Transcript

So, how to day trade online. If you're day trading online, one of the first things you want to make sure is that you have a suitable platform, or a brokerage system where you can do those trades inexpensively. Last thing you want to do is be day trading and wracking up tons of fees that, that wipe out your gains for the day. So, you need to look for a system or a platform that's going to give you lots of access to research quotes, you want the level two quotes, not just level one, and you're going to want the lowest fees possible for your trading. Many company's have options out there, for just a few dollars you can place trades in and out, and it's actually made for an active trader. To get those rates, you may have to perform a certain number of trades per day, or per week, per month, to qualify. So, one of the main things to do is to go out there, do the research, find the online platforms that you want to use, and see what the requirements are, and are you going to meet those minimum requirements for your day trading needs. And at that point, you can make a decision and, and start trading stock.

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