It is indeed true that professional traders earn their living by engaging themselves in the stock market. They earn money by either intraday trading or CNC, i.e., long-term investment in the stock market. Day traders make their living by entering and closing out the multiple trades earned during the day to earn maximum profits.
Yes, it is true that becoming a successful day trader can take some years, but it is possible.
It is extremely risky to make trades and earn profits with anything other than disposable income.
Becoming a day trader might require years of thorough research and experience.
Commissions might cost a day trader thousands annually. Online broker comparison is also intense.
Day Trading and its Function
What is day trading? Day trading refers to buying and selling securities and stocks and later selling them within the same day to earn a profit. When it is time for the markets to close, the trader analyzes the profits and the losses. A day trader closes all the strategies at the end of the day.
How does day trading work? Day exchanging is totally something contrary to a drawn-out speculation technique in which one holds stocks or protections believing that it may increase in value over the long run. Instead, day trading is about buying the shares and selling high in the short term. There is significantly less immediate volatility when it comes to long-term prospects of security and stock.
Day trading can be pretty risky. Day traders will inevitably lose money on trade, and it might become quite challenging to become a profitable day trader. Trading software aids in working efficiently.
Intra Day Trading Platforms To Earn Money:
In India, one can earn money by trading online in the stock market basically through 3 interfaces. For consistent exchanging on the web, one necessity is a decent exchanging stage speed, constant market information, and convenient devices for cutting edge outlining. The three types of interfaces that are available for the best online day trading platforms in India:
- Desktop-based trading platform
- Web-based trading platform
- Mobile App based trading platform
The professional traders who are willing to place immediate orders should go for the desktop-based trading platform as it is the fastest of the three.
Anyone can place orders with the help of shortcut keys in a desktop-based trading platform. The trading software is in the form of files that you can install on your PC or laptop.
The online trading platform has a URL that is the website address. It gives access to google chrome and firefox for login. When compared to the speed between desktop-based media and online trading platforms, online trading is slower.
Mobile apps are becoming more popular because of their ease to trade anytime during the daytime and that too anywhere. Most of the stockbrokers now provide Android and iOS-based apps to trade.
Best Online Trading Platform
Zerodha Kite 3.0 Trading Platform: You get the Zerodha Kite, an online trading platform with a bandwidth of less than 0.5 Kbps.
There are no specific system requirements, but you need good wifi.
Through Kite, one has access to complete market watch, extensive charting with over 100 indicators, and six chart types. All the search using Kite can be done extensively across multiple exchanges about trade 90,000+ stocks and F&O contracts. You are loading the Kite to analyze, trade, and manage your portfolio in your personalized way with an intuitive, designed sleek interface.
Upstox Pro Web Trading Platform: The UpStox Pro is a web (HTML) based trading platform best viewed on Google Chrome.
Without worrying about the operating system, the trading platforms work on any personal computer. Moreover, The Upstox Pro online trading platform is autonomous of any specific requirements like hardware or software. All we need is good wifi and a browser.
The UpStox Pro web comes with powerful, customizable charts with 100+ indicators to help us spot market trends and make informed decisions.
There are a Variety of Widgets Offered by Upstox Pro Web, Such As
- Order Book
- Position Book.
Anybody can use 107 indicators and historical data for the last ten years.
- Angel Broking Speed Pro: Everyone is searching for the best online trading platform, and Angel Broking Speed Pro is one of the best. For real-time monitoring, Speed Pro is faster for the execution of orders.
- It has special insightful trade evaluation features and offers a single-window experience to its users.
- There are various segments with Scrip addition features, including F&O, Commodity, and Currency.
- The best five blend – you can get the top five bids across NSE and BSE while buying and selling.
- Open Live Market in Excel with an incredible refresh rate.
- Seamless access to insightful summaries and reports.