15 ways to know that you are a day trader

15 ways to know that you are a day trader

by Nutan Gupta Last Updated: Dec 14, 2022 - 03:07 pm 194.9k Views
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Day trading or intraday trading is one of the best tools an investor uses to make profit in just a day. It refers to a trade which is done in a single day or before the closure of the market. The securities you buy must be written off or sold before the market closes as the expiry period is set for a single day.

Having invested in the share market, the next step for a successful investor is to consider intraday trading. As the whole trade is done in just a day, before considering investing in an intraday trade you must identify the ways that would help you to know that you are made for day trading:

1. Impatient:If you do not like to invest and just sit for years before indulging in any action of buying and selling the securities, intraday trading is for you. Everything is done in a single day. Get ready for the action.

2. Less time:If you are busy with your job and have less time to monitor your investments, you can always start an intraday trade on the weekend or whenever you have a day free. Day trading does not require much of your time when compared to other investment options.

3. Less capital:Day trading does not demand a hefty investment on your account. You won't need thousands or lacs of your hard earned money if you are a intraday trader. You can even start a day trade by only investing as low as Rs 50 using leverage.

4. Internet frenetic:Intraday trading can be done online, which means that you don't have to go out of your house or office to make a profit. You can just open your computer and start trading. If you are an internet frenetic, you can consider day trading.

5. Your own boss:If you like to be your own boss, intraday trading will prove to be the perfect thing for you. You are allowed to do what so ever you want, without having to listen to anyone else. You will feel proud by taking a decision that will result in profit.

6. Good information:If you do not like to spend time in researching about an investment or checking the background of a company and you think your valuable time can be spent on much better things, go for intraday trading as most of the information about trade is available on different sources on the internet.

7. Short-term investment:If you are looking at a short-term investment, in which you don’t have to wait for years for returns, look no further. Intraday trading makes up for the perfect tool to earn returns in a short period.

8. Market trends and other stuff:Do you understand all the complicated and complex terms like market trends and bearish and bullish market and stuff?? If not, you should consider day trading as it will not bother you to understand these things to make a profit.

9. Maximum returns:Each one of us wants our investments to provide maximum returns to us. You can get maximum returns from the financial market if you start day trading as the market can go up by a huge margin in just a single day.

10. Anyone can go for it:You don’t have to be a financial wizard to start day trading. It is much easier than the other investment options. All you need is a basic knowledge about the operating system of the intraday trading, and you are ready to go.

11. Do not want to waste money:Day trading is considered to be very secure as compared to other investing platforms. As the securities are written off in a single day, the share prices are not affected that much. It allows the investor to cut their losses and they do not lose an enormous amount of money.

12. Quick and fast:If you like to take quick decisions without wasting a lot of your time, do consider day trading. Everything is done in a day, so you don’t have to sit around waiting in front of a computer for weeks. You decide to buy or sell and move on.

13. Instant gratification:One of the biggest reasons for a buyer to invest in day trading is the instant gratification it offers. You can literally see the stock you have invested in, going up as you make more and more money. It gives you are feeling of pure satisfaction.

14. Good hobby:Why not have a hobby that can make you rich? Intraday trading can be used entirely as a hobby when you have a day or two free for yourself. If you are busy with your job the whole week, you can start day trading as a weekend hobby and can make more money than your job if you are vigilant enough.

15. No commitment:There is no commitment required on your account for long-term investments as everything is done in a day when you make an intraday trade. When you have time, you can start a day trade, sell it at the end of the day and go on with your life from the next day.

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