Understanding all risks is the first step in day trading. You can then choose whether you want to day trade stocks, commodities, or currencies. Each of these markets operates differently, has different hours, and follows different rules. Prepare your trading strategies by researching stocks, commodities, or currencies (whichever you want to trade). Before using real money, practice day trading with paper trading or a simulator. Obtain a suitable brokerage account or approval from your broker. Make your day-trading bets based on how much money you are willing to lose.