Profile TradersHow To Make Money in Intraday Trading? Stocks, Strategy, Indicators, Tips, Books, & Course
Updated: Oct 22
Intraday Trading is the most debated, yet misunderstood topic in the trading community.
'Is Intraday Trading Profitable?' or 'Intraday Trading doesn't work' are the two common statements in the trading community.
Let us say you have got an opportunity to drive a Formula-1 car.
What do you say?
'Formula-1 car does not work!'' or
'I do not know how to drive a Formula-1 car.'
If you are sensible, you pick the second statement. Isn't it?
The same explanation goes for intraday trading.
There is no point in debating whether intraday trading is profitable or not. It is only a type of trading in which you have to close the trade on the same day. If you are right, you make money, and if you are wrong, you lose money.
Rakesh Jhunjhunwala (RJ) is a renowned trader/investor who has made billions from an initial small capital of only Rs 5,000. Many people don't know that he also does intraday trading on many trading days.
In an interview, an interviewer asks this question - "How much has leveraged investments/trading contributed to your success?"
He replies….
"Trading is the mother of all my wealth. That is where I get all the money to invest.!"
His answer implies that he relied on day trading to generate the significant capital required to build his empire.
A decade back, intraday trading was an expensive game that belonged to big boys such as large financial firms, and FIIs. However, this scenario is completely changed today as anyone can open an account within 10 minutes and place their trades immediately. The credit goes to electronic Trading, margin trading, and a few online trading houses.
Intraday trading is a lucrative career for many youngsters and side-hustlers as it provides many luxuries such as working from any place, and no trouble from the boss. Nevertheless, it can be challenging for beginners, and sometimes even experienced intraday traders face losses and go through emotional issues.
So, let us understand what intraday trading is and how it works.
Key Points
In intraday trading, one has to buy and sell the stocks (or indices) on the same day. If a trader fails to close his intraday trade, the broker will close the positions just a few minutes before the market closes. Day Trading provides many trading opportunities. However, one has to make the right trading decisions to get success in intraday trading. If a person wants to start with intraday trading, then he needs to learn the in-depth technical analysis aspects.
Table of Contents
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What is Intraday Trading?
Intraday Trading is also referred to as ‘Day Trading’ by many people. In Intraday Trading, one has to close their trade on the same day.
If the stock has moved in the expected direction, then the traders will