What is the best place on the web to learn about day trading - only
stocks in the US and EU, no options and futures ?

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Clarification of Question by pitaman-ga on 20 Mar 2006 12:03 PST

To learn I mean, free on the web. 
I'm looking for professional information for people who want to study
alone and not take any course etc'.

Here is a good place to start. I myself used these articles to get a
better idea about day trading:

http://daytrading.about.com/cs/educationtraining/a/

Here is the best free advice. Don't day trade.

90% of day traders lose 50% of their money within the first 3 months.
Most are young and inexperienced.

For young people the best bet is investing in a Roth IRA
conscientiously for many years in a stock index fund.

Yes, paulft is right.  Add also this statistic: 95% lose ALL their
money or give up or get fired within 6 months.  The reason is that
successful trading requires one to make decisions that are contrary to
how 95% of people would react under pressure.  Most are not adequately
capitalized, and scared money is dead money.

I am a professional trader, and I have seen many people come and go in
this business over the last six years.  The game has changed several
times, and I would say as an average human being you are most likely
bound to fail UNLESS you have a great mentor from the start who will
show you the ropes AND (if you're doing this with your own money)
you're adequately capitalized.

However, I do not agree with the conventional wisdom about putting
your money into a stock index fund for "the long haul."  Right now the
broader market is at such valuations that you'll probably get better
returns (and far lower risk) from a money market fund over the next
5-10 years.  (Some of them are paying close to 5% now.)  Of course
Wall Street is not going to tell you that.

Commissions alone can wipe out your account in day trading. Instead of
day trading, I recommend options trading.

Rather than buying/selling stocks many times a day, trade options a
few times a week. Less commission charges are involved, and due to
leverage provided, your earnings can also be alot more.

You can go http://www.theoptionsguide.com to learn more about options
trading. I must first warn you though that learning how to trade
options requires you to invest some time. However, I personally think
it is definitely a better approach to stock trading. Many online
options brokerage like www.optionsxpress.com also have virtual trading
accounts using fake money where you can test out your trading skills
before you plunge in with real money.