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So you want to start day trading as a career in India? If so, you should know that turning part-time trading into a profitable job with a liveable salary requires specialist tools and equipment to give you the necessary edge. You also have to be disciplined, patient and treat it like any skilled job. Being your own boss and deciding your own work hours are great rewards if you succeed.
Day traders’ objective is to make profits by taking advantage of price movements in highly liquid stocks or indexes. The more volatile the market, the more favorable the conditions for the day trader, regardless of the longer-term direction in the market. Unlike some fund managers and investors who hold positions over longer periods of time and are averse to selling equities short, the day trader is not committed to a position and can adapt to whatever condition the market is in, at any given moment.
Day trading is associated with risk of capital loss. According to millionaire day trader and author James Altucher, only around 5% of retail traders make money as full-time day traders.
Day trading is stressful due to needing to watch of multiple screens to spot trading opportunities and then react quickly to exploit them.