If you are trying to earn a living trading, then in my opinion you are a professional trader. But are you really doing everything you can to be considered a professional. A professional trader pays a per share commission and not a base price commission such as $7.99 per trade. By paying per share, you control your costs and this will make a huge difference for the better in your monthly P&L. A professional trader does not receive confirmations, just one simple 1099 at the end of the year, a retail trader has a stack of confirmations for his accountant which he must figure out gains and losses, perhaps taking hours of his precious time. The professional trader has more capital on his side and the retail trader is under capitalized. This one is tough I know and a trader should build his capital slowly but there are many firms that will give you better than 4:1 intraday leverage, some as close to 20:1 which means more buying power and more opportunity to work your ideas.

I would urge you to look into opening an account with a firm that will give you the following: Direct Access platform, a per share commission ($.007 or about $7 per thousand shares is a good rate) better leverage if desired and one simple 1099 at the end of the year. The price for this is probably about a 90% payout on gains but in my opinion you are taking a great step to becoming a professional trader.

Are you trading with the proper software for both execution and charting? Have you thought about how important the proper tools are? Trading with poor software is like bringing a knife to a gun fight. I am talking about having professional tools at your disposal, I am talking about speed and information. If you are not using level II software and direct access for exexcution, then you are trading at a huge disadvantage to traders like me. When you are trying to earn dimes and quarters, then every cent counts. The excess information that you can get from having level II on your desktop is immeasurable. Don't you want to know if there is a major seller or buyer standing in your way from big profits, don't you want to have the momentum behind you instead of blocking your progress? Direct Access is the answer. The problem is the most popular firms, names withheld, do not usually offer a direct access platform but with a little bit of digging you can find a firm that will be happy to offer you direct access and the cherry might be lower commissions as well.