How to Start Day Trading in India? (The Beginner’s Guide):
Are you a beginner in Day Trading in India?
Do you know what Day Trading is?
Let’s not worry because in this article we will discuss in brief about “How to Start Day Trading in India?”
As you know that, today the participation in the stock market has increased a lot and many individuals are becoming a part of the stock market by doing the investment and trading.
Day Trading is one type of that trading and how it functions and all the details we will cover in this article.
Starting with,
What is Day Trading?
Day trading defines about the positions are that are punched or ordered once the market opens and on the same day the positions are squared off before the market closes down.
You can also address this trading as “Intraday Trading”
Day trading is not a cup of tea for everyone as it needs a more of learning and practical approach.
In this, there is no place of emotions to work like this will have a negative impact on earning profits from day trading.
As you know that the amount of time in day trading is for short term and there is no any another way or shortcuts for earning profits this only demands lots of research, practice and experience in the stock market.
There has been this thought in the trader’s mind that they can become rich with just punching one trade in the stock market.
But this is not appropriate as for everything it can be anything but still, it needs time.
With the process of learning, then only you will slowly or gradually achieve the goals that you have pictured in your mind but it can only be possible with the determination and continuously learnings about the concept of the stock market.
Day traders need to put their efforts for more than months with complete concentration and focus since the day they have started the day trading because in the end the results are completed dependent upon the efforts and correct learnings that will pay off.
Now, that you are aware of the Day Trading and you have also made the decision to go for the day trading then, you have to select any of the brokers for opening the Demat account and trading account this is the only way you can place the trades in the live market.
But here I mention some of the basic and important points you have to check before selecting the broker like:
- Check all the costs that are charged by the broker, select the broker that charges you with lower costs for per trade transactions.
- You will need to select that broker that will give you full support while in the trading hours so that you don’t end up in any problems while doing the transactions for orders.
- You already know that the intraday traders has been increased and meanwhile when the market opens at that point in time there are many of the traders that will punch the orders so that the speed of execution matters over here and with that you have to select the broker that assures you high the speed of execution.
- Select the broker with tight spreads that will be good for you.
- Regulatory Compliance, you need to select the broker that is regulated by the regulatory body and with that, they can protect your financial interests.
You can choose either way for day trading like online and offline brokers.
For further, if you want to know about brokers then you can read our blog on “What is Stockbrokers & Types of Stock Brokers”
After getting the Demat account from the broker, you are ready to start your day trading but for that, you have to be aware of all the conditions for day trading.
The conditions can be anything like the risk, timing, capital allocation, types of instrument traded in day trading, how to punch the trade etc.
There are more elements in the stock market that you have to take care of before punching for the day trades
- Risk Management
- Risk per Trade
- Apply Stop Loss in Every Trade of Day Trading
- Make and Maintain a habit
- No Greed and No Fear Factor
- Read and Learn More
- Set up Unique Strategies
- To Follow all the Above Mention Points with Discipline
But for a day trader, the important aspect is to become a learner for growth perspective.
Conclusion
From this article, I hope that you understand about “How to Start Day Trading in India?” with this, the whole article summarizes about how you can start the day trading with some safety measures to keep in mind.
You will need to put a lot of efforts in the day trading as it will only help you to make money and all the efforts will pay you one day.
With this, I want to conclude that you can make a habit and the discipline in the day trading which will help you to become a stable trader in the market and with this you will develop the skills of becoming the professional trader.
Stay calm and relax while doing the transactions of the day trading.
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