Basic Requirements for Day trading
| by Paras | October 14, 2008
Basic Requirements for Day trading in indian stock market
A successful day trader or share market trading requires couple of disciplines and following requirements -
1) PC with internet - If you need to do it yourself then you needs to have a PC or else you can do it in internet café also. A PC with good internet connection speed. The internet connection should not be slow or should not face any other problem especially in Day Trading.
2) Online Account (Demat Account) –
a) You need to open online share trading account with any of the available banks or online brokers. Points to remember while opening online account) Make multiple enquiries and try getting low brokerage trading and dematting account.
b) Also discuss about the margin they provide for day trading.
c) Discuss about fund transfer. The fund transfer should be reliable and easy. Fund transfer from your bank account to account and visa versa. Some online share accounts have integrated savings account which makes easy for you to transfer funds from your saving account to trading account.
d) Very important is about service they provide, the research calls, intraday or daily tips. e) Also enquire about their services charges and any other hidden charges if any.
f) And also see how reliable and easy is to contact them in case if any emergency. Emergency closing or squaring off trades in case of any technical or other problems
A successful day trader or share market trading requires couple of disciplines and following requirements -
1) PC with internet - If you need to do it yourself then you needs to have a PC or else you can do it in internet café also. A PC with good internet connection speed. The internet connection should not be slow or should not face any other problem especially in Day Trading.
2) Online Account (Demat Account) –
a) You need to open online share trading account with any of the available banks or online brokers. Points to remember while opening online account) Make multiple enquiries and try getting low brokerage trading and dematting account.
b) Also discuss about the margin they provide for day trading.
c) Discuss about fund transfer. The fund transfer should be reliable and easy. Fund transfer from your bank account to account and visa versa. Some online share accounts have integrated savings account which makes easy for you to transfer funds from your saving account to trading account.
d) Very important is about service they provide, the research calls, intraday or daily tips. e) Also enquire about their services charges and any other hidden charges if any.
f) And also see how reliable and easy is to contact them in case if any emergency. Emergency closing or squaring off trades in case of any technical or other problems
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