Few basic questions regarding the trading

Hi All,
Today only I have joined this forum and I am very new in share trading market. I have few questions regarding the trading. I know these questions have been posted before in this forum but the answers could not satisfied me so posting it again in different words -

1. I know there are two types of trading Intraday and Interday. I want to start share trading as Interday as expert says Intraday trading is not for beginner.
Q 1 - What is the main difference between these two?

Q 2 - Suppose I buy 100 share of X company @Rs 100/Share in the morning and plan to sell it on same day ( Intraday ) But later in the day share price goes to 90/Share. Now I do not want to sell them for loss and want to wait till next day or more till it goes to 110/Share. Even if it takes one week also. Will it become Interday trading now?

Q 3 - Is there any penalty other than I have to pay interday brokerage? If yes what penalty is that. My point here is that I am fine with paying Interday ( Delivery ) brokerage if Intraday is going in loss. But other than that is there any other penalty or money loss for changing the Intraday to Interday?

Q 4 - When we buy the share do we specifically mention during buy whether it is going to be intraday or interday? If yes then how can we convert interday to intraday and vice versa. Is there any additional charges or penalty for that? If no then how the penalty will be applied for changing intraday to interday?

Q - 5 - I have heard that in interday there is a T+3 trading that means if you buy a share today you can either sell it today ( Intraday ) or sell it after 3 days ( Interday ) Is it true?

I am really hope some trade guru will respond to this. Thanks in advance.
Hi , welcome to the forum , ill try answer some of your queries .

There are broadly 3 kinds of timeframe where trading is classified ,

intraday trading : u close all trades before 3:30 , all buying and selling is done within the day and you don`t carry any positions into the next day

swing trading : hold positions for a week or 2

positional trading : hold positions upto 3 months

Ask your broker for specific rates , u will be charged less for intraday . Pls do good research before deciding on your broker , this is very imp .

No , there need not be any specific mention of till how long you want to hold on , you get delivery of the shares in t + 2 days , u can choose to sell them in this time if you wish .

This is a great place with lots of knowledge for all who seek it , Pl go thru this 1 : http://www.traderji.com/beginners-guide/9373-new-members-please-read.html

best of luck

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