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Some brokerage platforms also let you retain the order for more than one trading day. So you do not need to keep playing the same order every day.
Trading within the day or intraday trading could be trades placed in stocks, ETFs, commodities, currencies etc. The trades are placed and the position squared off within the trading day itself.
You can buy and sell the shares within one trading session and do not have to wait for getting the physical delivery of the shares. The basic idea of trading intraday is to catch the price movements. You buy the shares when the price of the stocks is low and sell it when it is high. The profit that you make is the difference between the high and the low price.
You could also sell high first and buy low later. This is known as short selling. Here too the difference between the high and the low price is the profit that you make.
The trading account that you choose to trade intraday will also have many research reports and tools that will let you take the intraday trading positions. Check this website for more details.
Traders will be using the real-time intraday charts to look at the movements of the stock prices. Along with the price, there are other tools too like the volume and the technical indicators that help to make profitable trades.
To be successful in intraday trading you need to:
• Enter and exit the trade at the correct time
• Do a historical research and choose the stocks
• Have a predefined trade target
• Pick the direction of your intraday trades.
Enter and exit the trade
It is important that you trade with the trend of the day. This lets you grab some entries which are low risk and also opens up the potential to make high returns. This is if the intraday trend continues. When you have a proper trending day then it will let you benefit from the entry and stop loss strategy.