Description: In contrast to the intraday approach, day traders tend to open a position in a given market only to make an exit at the end of the trading day. Additionally, they tend to deal in low volumes.
Requirements: Types of trading ideal for a daily time-frame include Momentum and Range.
While most intraday strategies rely heavily on technical analysis, liquidity, and price action for proof of validity, day trading strategies frequently include aspects of fundamental analysis.
Time-Frame: Positions are held until the end of the trading day, with no overnight positions.
On BROKSTOCK: To assist you with your Day Trading, BROKSTOCK provides a technical analysis summary (20/200 SMA) and a fundamental analysis summary (12-month assets change and the percentage of investments that paid off) under the instruments’ Forecasts tab.
Additionally, the app supplies a Market Rating out of ten and a Price Forecast on US instruments for the next 364 days. It also has the functionality to switch between a line, bar and candlestick chart, but doesn’t currently provide chart drawing tools.