Anyone here into trading stocks?

Depending on what you day trade depends on what your budget needs to be. If you are going to day trade stocks you need at LEAST $10G to start.

I set a profit target of around $300/contract and a stop loss of about $200/contract.

Your budget will drop with different types of trades, Forex, Futures, Stock Options etc. For example with Forex a good recommended beginning balance is only $500 vs. $10,000 for stocks.