Some strategies you can research are:
Trend Following
Scalping
Momentum Trading
Range Trading
News Trading (buying/selling on news or anticipation thereof)
All but news trading involve some form of Technical Analysis which I would advise you to read about as well.
I would also recommend you start looking into an ECN (electronic communication network) to use as your primary trading platform.
Wiki has a lot of information you can use, but I would always recommend reading independently and doing research online. Some authors you can look up are Alexander Elder, Michael Covel, Curtis Faith and John Murphy to name a few.
http://www.amazon.com/Investing-Dummies-Business-Personal-Finance/dp/0764599038/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1210879631&sr=1-1
http://www.amazon.com/Investing-Dummies-Business-Personal-Finance/dp/0470228024/ref=sr_1_8?ie=UTF8&s=books&qid=1210879631&sr=1-8
http://www.amazon.com/Trading-Dummies-Business-Personal-Finance/dp/0470171499/ref=sr_1_7?ie=UTF8&s=books&qid=1210879631&sr=1-7
Day trading is buying/selling securities so as to take advantage of short term (minutes/hours/seconds) price differentials and not holding anything longer than a day hence, day trading.
Investing or day trading can be done through an eBroker (electronic brokerage or online broker) Some may be more adept at handling day trades than others,
Investing and day trading both require a knowledge of the underlying market and its dynamics.
Those three references should only be the beginning of a long term commitment to learning.
trading electronically in real time as a day trader
Stocks mainly
Find the articles online that have evaluated and compared online brokerages. I found a good one online in Barron's, but you'll find others in the trading magazines.
This is worth putting a little time and effort into, because it's a pain to switch, so once you choose, you're kinda stuck with it.
Townsend Electronics, the Parent company of TerraNova, is the one that digitized and electronified the Nasdaq. They are technological industry leaders and have a powerful and well built trading system.
I use RealTick at TerraNovaOnline, but it costs $275/mo. I think the Investor package is free to use, and just uses one screen.
What you should try is a free trial of their Investor demo. Their rates are good also, but of course, it depends on how often you trade. It will take you months to learn all the bells and whistles of what this program can do.
The other top-of-the line program is TradeStation, but it costs big bucks to join and operate. Some people consider it the Cadillac of trading and technical analysis.
TerraNova is the home of the Day Trader, so they think nothing of you making several hundred trades a day. You don't have to do that, but it's okay here if you do.
1.In day trading all the shares which you sold today should buy on the same day.
2.In delivery trading you can buy share today and you can sell it tomorrow (or any other day which you want). If so if am selling shares today then how it is classified as delivery trading or day trading (intratrade)? Or how I can prove that I am not doing Day trading?
3.Suppose I am selling 10 RPL share today which I bought 10days back, then how it is determined that it is not under the category of day trading. (otherwise I have to buy it back according to day trading rules)
4.Suppose I have 10 RPL share, one share cost Rs. 400. I want to place an order of selling today for Rs.1000. Is it possible? Or who has to decide the selling price (Minimum/Maximum)?
5.Is there any restriction that one cannot sell all the shares of particular company on same day? (Suppose I have 100 RPL share. I want to sell all these today. Is it possible? Of course if there are people to buy it only?)
6.What is pari-passu?
7.I have a Demat Account in ICCI. Can I use the same account to do trading in Sharekhan?
8.Today (11/02/08), the RPOWERL has been listed for Rs.530/. What is the basis of listing the same?
Hope some people will help me to find out these things.
Since you asked this in the U.S.A. forum: To day trade an account MUST have AT LEAST $25,000 U.S. in cash on-hand every trading day. This does not include any positions or any unsettled transactions.
The time it takes to settle stock trades is 3 business days.
As soon as the balance goes below $25,000, the trader must fund the account with more money OR a whole new set of trading rules applies. This varies from broker to broker, but the $25K is a hard. fast rule.
Your Q2: In the U.S. this is referred to as "swing" trading.
Broker electronically track every trade by every trader. When the trade is placed, you confirm the trade AND you have the iopportunity to print every trade placed, confirmed and completed. Yuor account also reflects the balances.
Your Q3. Day trading is in and out [entering and exiting] the same shares in the same company on the same trading day - regardless of the price.
Your Q4. You decide your own buying and selling prices through various kinds of orders.
Your Q5. Refer to my remarks.
Your Qs 6 & 7: I DON'T believe they apply to the U.S. exchanges.
You can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to this free site, recognized by Y! A as a "Featured Knowledge Partner":
http://investopedia.com
Investopedia also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with your own hard-earned money.
http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner"
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!