In the stock market, there are two options of making some income. The first option is to invest money in shares of some company and get a dividend or hold the shares for a long period until one can fetch good profit on it. The second option is to buy the shares and sell them as soon as there is a little hike in the rates of the shares on the same day. Hence it depends on one how he wants to make money. The second option is known as intraday trading while the first option is known as delivery based trading.
May one go for intraday trading or delivery based, he has to bear a charge which is known as brokerage. Usually, the intraday brokerage is much lower than the brokerage charge on delivery trades. Those who want to make easy and fast money prefer to go for day trading only. There are some reasons for this choice. The low brokerage is obviously one of the reason but limited risk and settlement of account on the same day are also important reasons behind this choice.
In the delivery based trading one needs to pay the balance amount to the broker in limited time while in the intraday trading other than margin money account movement as per the profit and loss of the trades one does not need to worry much. Hence for the day trader, such trading is the best way.
The trading platform:
One can go for any of the trading platforms as far as the day trading in concerned. Though all the broking companies have to follow the guideline issued by the SEBI, each of them has a similar style of operation only, and hence the question of the best trading platform does not arise. However, one can say that any such firm or company that offers best of the services in terms of customer service and client friendly terms can be considered as the best trading platform.
There are online as well as offline accounts, and one can choose any of these options considering own requirements. Those who are busy during market hours and cannot keep an eye on the same, it is better to go for an offline account where they can call the terminal operator and place the order. The operator keeps checking the market and confirms the execution of the order once it is executed. In case of any probability of loss, one can also ask to set the stop loss and save from having more loss.
Those who have facilities of computer or smartphone with an active internet connection can also go for an online account where the client or trader needs to carry out all the activities related to trade himself only. The trader can also get the credit limit opened and view the movement of the market on his screen just like the bolt. Hence it is all about one’s requirement that he needs to choose the account from any of the broker or broking company.