Regarding the day trading, keep in mind that you really can't do it seriously with a small amount of money. Folks who day trade big time are able to take advantage of small price changes because they buy large numbers of shares.
For example, if you buy 100 shares of stock and the price rises $.25, you are up $25 but have to pay $14 in commissions ($7 to buy, $7 to sell) netting you just $11, hardly worth the trouble. But if you bought 1,000 shares and paid the same $7 commission, that $.25 gain becomes $250 and your profit becomes $236. But you can't buy 1,000 shares of stock if you are only playing with $1,000 total.
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Steve
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