How to start day trading?

Day trading is all about buying and selling of a security within a single trading day. Day trading is done with the use of different trading strategies to capitalise on small price movements in high-liquid stocks.   

Before you start trading with big profits in mind, you must understand that it requires 100% focus and you cannot take it as a side business. Our purpose is to give you an overview on what it takes for you to start day trading. Here is the step by step guideline that helps you to start intraday trading for today.

• Search for a good broker. Based on your trading plan chose a brokerage plan that charges less.

• Build a good trading system that includes fast compute and a fast internet connection, trading software, charting software.

• Take proper education. Read more books; learn from experience of your trades. An investment in knowledge pays the best interest.

• Be updated with the current economic condition and market situation.  This helps you to get an idea of future price movement of stocks.

• To star intraday trading, you must have unique best intraday trading strategies that help you to get winning trades.

• You can develop your own day trading strategy by observing the charts of different stocks.

• Technical analysis is one of the best ways to find accurate intraday trading strategy. You can join institute that teaches technical analysis.

• For profitable intraday trades you must understand the entry and exit levels and using stop loss is also very important part to achieve success in intraday trading.

• Find the stocks as per your strategy by analysing chart of stocks after market is closed.

• Last but not the least; Practice is the key to success.

Also view: How To Avoid Loss In Intraday Trading