by 
The Curious Bag
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A day trader is defined by InvestorWords.com as someone who executes buys and then sells stocks during the same day. They are often looked down upon as hopeless schemers looking to get rich quick. For others, it is an ideal lifestyle.
Time Frame
The Security and Exchange Commission (SEC) defines day traders as anyone executing four or more day trades in a week, if those trades exceed 6 percent of the person's total trades during that week.
Function
Day traders hope to make high gains from short-term positions. Usually the aim of day trading is to make a living as a self-employed stock trader.
History
TradeStockAmerica traces day trading back to 1995, when fixed broker commissions were outlawed and executing trades became much cheaper. Howevver, day trading became a household word and popular fantasy career in the 1990s when online trading platforms became available in the mid-1990s.
Warning
The federal government's SEC seems to regard day trading as a bad gambling habit, and has published a web page, warning about the dangers of it.
Considerations
The Financial Industry Regulatory Authority (FINRA) and the New York Stock Exchange (NYSE) have united to create a "The Pattern Day Trader Rule" requiring day traders to have $25,000 in equity in their accounts at all times.
Source:
YouTube: The Pattern DayTrader Rule; David Waring
Securities and Exchange Commission: Day Trading
TradeStocksAmerica.com: How to Be a Day Trader
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