What is intraday trading?
Just as the name is pronounced, intraday, which means the same day, thus, intraday trading means buying and selling of financial instruments or stocks within the same trading day. In intraday trading, the aim of buying stocks is not to invest, but make profits by harnessing how stock indices move. Therefore, traders make profits by harnessing the fluctuations in stock prices.
You need an online trading account for intraday trading. And while trading, you have to specify that your orders are target to or specific to intraday trading. Before the trading day comes to an end, the orders are squared off, and this is also known as intraday trading.
Since intraday trading or day trading involves purchasing and selling financial instruments and stocks within the same trading day, all orders or position are squared off prior to closing the market,and one cannot change shares ownership due to the trades.