Thank you, that is wise advice and I will heed it. I don't plan on using much or any of the leverage. My goal right now is geared more towards learning to trade well rather than looking for any specific profits. I figure if I learn to trade well that will come. I was concerned though after reading something that led me to believe that the daily BP was a total of all trades. I am glad to now understand that is not the case.
That's true but as others have pointed out, you don't want to get near your intraday limit. If you do, your account will be issued a margin call. You'll then have five business days to deposit funds to meet the call. Until then, your account will be restricted to an intraday buying power of 2:1. If the call isn't met by the 5th business day, your account will be restricted to trading for 90 days on a cash available basis or until the call is met. So give yourself some buffer b/t your position size and the limit.