While this could certainly happen, there are much easier and less stressful ways to make $300. I'm not even sure who offers margin accounts with a $1k minimum. If it were me, I wouldn't bother until you have more starting capital to play with.
If you really want to do this, don't fucking day trade. The guy telling you that is providing really poor advice. With the amount of money you are working with, you would have to devote way too much of that to a single position for any hope of a meaningful return. Also, you don't seem to have a ton of experience with this, so you WILL lose money day trading. Swing trading is an option. Forex is an option. Crypto is an option, but not a good one for you at this point.
Take it from a guy who has done this stuff for a while and worked in the field prior: $1000 starting is exactly enough to frustrate you into not wanting to ever do this again. Put it in a fund.
Exactly what i was thinking. Currently i'm scalping and i have to stop lol i didn't lose money but it's inevitable. Im also doing what you do with tech stocks, but i'm going to move into the pharmaceutical stocks. Surprised you're not investing into CRSP since they are pushing the edge.
Yeah, but that does not effect Margin accounts. If you are trading cash then yes.
most traders - like me. will use a margin account which will keep your equity liquid so you can buy and sell very quickly without having to wait three days for settlement. the broker will have a set minimum margin amount you can have, which for TD Ameritrade is $2000 Margin is risky though if you have a really bad trade you could loose your shirt.
when you are on margin, you Still have to obey the day trade rule until you have over 25k which is if you buy and sell three times within a three day period you are flagged as a pattern day trader. Because they don't want nonpros day trading.