What you need on your computer for Intraday Trading?
You must be informed about the stock market movement while you have any position in the market. The sharp movement can have news that moves the prices and that news much reach to you immediately without fail. That is important that information reaches to you without any delay available on-line and immediate to take instant decision for trading. But there are some information that should come to you constantly to understand the market ups and down and important for intra-day trading.
- IGMarket live prices
Live prices of foreign indices : All the markets of the world are now connected with movement, if you check out, compare the charts of Dow Jones or FTSE or BSE sensex, you will see that all the charts have same movement percentage wise. If you need live prices of world indices visit : http://www.igmarkets.co.uk/ That will show you world dominating indices of the Wall Street (Dow) and the prices are live 24 hours a day. Also you can have more indices on site : HangSang, China , Singapore Indices. You can also watch live world market indices and news on Accord Investments & Finance. There a button “strength” at the bottom of world indices of Accord Investments, you can use that button to check the world’s overall financial scenario.
Live charts and other technical detail : Live charts are required to understand the past movement of any script or indices and the future possible movement. Also the live data of scripts having movement of new 52 week high or low, daily high, high volume, new lows, and technical analysis of script like moving average, stochastic, RSI, MACD and many more. Intra-day trader can buy the software from the online chart provider like : Meta Stock, Spider.
If trader don’t want to spend money now and still wanted to see the charts. Charts can be available for free, but there are some draw-back with that charts. At least 5 to 10 minutes delay charts and the limited technical analysis possible. These charts and other technical data can be received from BSE, NSE, Indiabulls, Google charts and even your broker can provide you charting facility.
FII & DII data : FII -Foreign Investor Institution and DII – Domestic Investor Institution. The data get printed everyday in financial newspaper, but you can have that online too. Bomaby Stock Exchange and National Stock Exchange of India provide the data on regular basis. The best detail list can be obtain from : FII data equity & debt.
A intra-day trader must be well experience, educated and trained to make the easy money from the stock market. A intra-day trader must be aware of draw-backs and benefit of intra-day trading. A trader should have best tested ‘trading system’ and control on his emotions.
Average turnover of Indian stock markets BSE+NSE, future and cash is 1,00,000 crore.
Minimum average brokerage collected by stock brokers ( 2 paisa) 0.02%, that’s 20 crores
Minimum average Tax collected by Govt. (Turnover tax, STT, service charges ) 0.025%, 30 crores.
Either you make money or not from stock market, Stock broker and government gone a take their portion of profit from the market. And if you make money you have to pay the income tax. Market volatility, movement in price of the stock is depend on market situation. Recently, indices moves more than 1% and up to 3% and that is very ideal for intra-day traders. I have put this brokerage data so, you can be aware of brokerage and tax that you are paying everyday.
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Intra-day trading is a win-win situation for Brokers and Government. So trade very cautiously.
Thank you Khalid Sir, I appreciate you comments.