A good start to understanding what day trading is – is literally that, it’s getting in an out of positions in one day. Most day trading can be done within a few hours.
For futures markets, the best time to trade is usually 9:30 am – 11:30 am EST.
Lunch – slow and boring and can be unpredictable
1:30 pm – 3:30 pm EST
Some traders go until the 4 pm bell. Futures market can be traded pre market time and after market hours as well. But the best times are the ones I mentioned on top.
These are the market hours.
In the futures market what you trade is contracts. You can think of contracts as in stocks positions. When you buy stocks you can buy either 1 or 200. In Futures you can do the same, you can buy one contract or as many as you want.
In the beginning, and probably for a year or more after you go live you will be working only with one contract at a time.
Marina 'The Trader Chick' Villatoro