daily traders
- Thread starter ankitmehta
- Start date
INTRADAY TRADING
Characteristics of intraday trading:
Wins will be less due to much smaller timeframes.
Wins will need to be more often to achieve a positve expectancy.
Trading costs (brokerage) will increase.
Chances are your stress levels will increase due to time spent diving around the market trying to snatch a move.
Youll also need good software.
No offence meant here but one would trade intraday particularly if they need to make a living from trading.
For intraday trading, u need :
Steady nerves
100% Concentration for extended periods.
A good system(s)
Ability to get over setbacks psychologically
A certain amount of intuition/luck (which comes I think with experience).
Any trade that is entered with the goal of exiting that day before the close of trading is a daytradeing.
There are "swing" traders (still within the intraday time frame) who are looking for the larger intraday trends.
These are all still "daytraders"
But some daytraders are the other way round. The income from daytrading takes the pressure off their long term decisions.
As usual, It's all a matter of individual psychology.
Nobody makes a profit everyday. There are some days when you should walk away and not trade at all. People learn to sense these days and the conditions that precipitate them. Generally it will be very unusual not to make a profit every month. If not some serious navel gazing is in order...disipline is the key.
One thing with daytrading, it is VERY EASY to start overtrading and this is when you give money back. Even experienced traders must watch their disipline with this.
NOTE: this is collected from internet and after trading 22 items in this month in bdstock market, I had to search for it to see whether I have become an day trader or not.
farid
Characteristics of intraday trading:
Wins will be less due to much smaller timeframes.
Wins will need to be more often to achieve a positve expectancy.
Trading costs (brokerage) will increase.
Chances are your stress levels will increase due to time spent diving around the market trying to snatch a move.
Youll also need good software.
No offence meant here but one would trade intraday particularly if they need to make a living from trading.
For intraday trading, u need :
Steady nerves
100% Concentration for extended periods.
A good system(s)
Ability to get over setbacks psychologically
A certain amount of intuition/luck (which comes I think with experience).
Any trade that is entered with the goal of exiting that day before the close of trading is a daytradeing.
There are "swing" traders (still within the intraday time frame) who are looking for the larger intraday trends.
These are all still "daytraders"
But some daytraders are the other way round. The income from daytrading takes the pressure off their long term decisions.
As usual, It's all a matter of individual psychology.
Nobody makes a profit everyday. There are some days when you should walk away and not trade at all. People learn to sense these days and the conditions that precipitate them. Generally it will be very unusual not to make a profit every month. If not some serious navel gazing is in order...disipline is the key.
One thing with daytrading, it is VERY EASY to start overtrading and this is when you give money back. Even experienced traders must watch their disipline with this.
NOTE: this is collected from internet and after trading 22 items in this month in bdstock market, I had to search for it to see whether I have become an day trader or not.
farid
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