Day trading is another one of the options in stock trading where you can purchase stocks, sell them off the same day, and earn the amount of profit, which has been accrued that very day. In day trading, the trader does not hold the stock until the next day; instead sells it off by the end of the day.
There are many advantages of day trading as defined by the stock guru's. First of all, it is a safer way for people who do not have a lot of know-how in stock trading; therefore, they can easily follow their stocks during the day and sell them off as soon as they see a rise in the value.
Secondly, day trading allows for lesser speculation as the trader may not see a lot of variation in the values during a span of a day. Usually day trading does not vary in value of more than 30%. But then again it is easier to keep a track of and not to incur a loss.
If you plan to invest your money in day trading, make sure you do not put in all your hard earned savings in one go, as this might prove to be quite dangerous for you. Get yourself a good day trader whom you can rely upon. While investing, make sure you have a good eye for analysis.
Many traders and investors rely too much on software's used for these purposes, but you do not get a true picture of the market just by using these software's, as there are many factors which constitute a stock market and some of them can only be assessed through skill and experience.
Day trading requires analysis and ability both. Trading on stock all by yourself is not a very sensible thing to do, unless you have enough confidence in yourself. The best advice for beginners is to find a good broker who would do the trading on your behalf.