For a non Day trader, l would have to wait 3 days before my funds gets replenished to purchase in the market again.

1)For a Day trader, l can Buy/Sell again and again with the same funds right? In other ways, l do not need to wait 3 days for my funds to replenish?

2)My brokerage stated that it needs 25k min in equity. Does that mean l must have 25k in my account in cash/long term stocks before l can day trade?

3)How does the Margin Account work. Say l borrow 20k from them and l used it and bought and sold something. Now my balance is 21k, Do l stillpay interest?

4)Say l borrow 20k from them and l used it and bought/sold something. l took a loss and now my balance is 18k. Do l pay interest for the 2k l owe them in the day l lost the money?

The 3 day rule is a maximum allowed by regulations. It does not apply to Margin accounts.

The 25k rule is a regulation all brokers must adhere to.
(balance of account (cash+equities) less margin balance).

You pay interest only on the negative cash balance. when it is negative.

You pay every day there is a negative cash balance.

You have to be very carefull with the ''pattern day trader rules''. Your account could be frozen for six months.

Hopefully you're not a typical ''newbie''.. hopefully you're smart enough not to trade stocks below $20. Hopefully u have an exit plan before u place an order. Hopefully ur win/loss ratio is at least 2 to 1. And the most important.. ''position size'' every order.

As a DayTrader l think u will love the video every night on this web site;
http://alphatrends.net/

Remember: It takes, on average, 3 years to be a successful daytrader.
(over 95% of the people that try.. fail in the first 2 years).

A good habit to get into is reading a new trading book every month.

Two of my favorites are;
Mastering The Trade, John Carter
Trading In The Zone, Mark Douglas

<<<1)For a Day trader, l can Buy/Sell again & again with the same funds right?>>>

Not exactly.

First of all, it is having a margin account, with or without being a day trader, that allows u to utilize funds that have not settled yet.

Second, it still takes three days for a stock sale to settle so the funds r not in ur account to buy again. However, ur broker can use the unsettled funds as a source of margin & lend u the money to buy more stocks.

<<>>

Correct.

<<<2)My brokerage stated that it needs 25k min in equity. Does that mean l must have 25k in my account in cash/long term stocks before l can day trade?>>>

You must have a total of 25K in cash & marginable securities, such as stock or T-bills, to be a pattern day trader. There r a few times every year that l buy & sell a stock on the same day, which is a day trade, but l do not do it often enough to be classified a patern day trader.

<<<3)How does the Margin Account work. Say l borrow 20k from them & l used it & bought & sold something. Now my balance is 21k, Do l still pay interest?>>>

Yes. You pay interest on all the money u borrow, the full 20K.

<<<4)Say l borrow 20k from them & l used it & bought/sold something. l took a loss & now my balance is 18k. Do l pay interest for the 2k l owe them in the day l lost the money?>>>

You pay interest on all the money u borrow, the full 20K.