Intraday trading is another short-term trading style. You usually make one trade a day and close the trade before the end of the day. Such traders like to choose one side to start trading based on their own opinions at the beginning of the day, and then end the day’s trading, either to win or lose. They don’t leave the transaction overnight.
Intraday traders are those who have enough time to analyze, execute, and monitor transactions throughout the day. If you think that ultra-short-term trading is too fast, and swing trading is a bit slow, then day closing trading may be for you.
You can become a day trader if:
You start and end trading in one day.
At the beginning of the day you have time to analyze the market, and you can monitor the market throughout the day.
You want to know at the end of the day whether you are gaining or losing.
You cannot become a day trader if:
You like long-term or short-term trading.
You don’t have time to analyze the market and monitor its changes throughout the day.
You have to work during the day.
If you want to conduct intraday trading, you need to consider:
Keep up to date with the latest basic events to help you orientate
You want to keep yourself abreast of the latest economic news so that you can make trading decisions at the beginning of the day.
Do you have time to monitor transactions?
If you have a full-time job, think about how you can balance your work and transactions. Basically… don’t get fired for always staring at the chart.