As a day trader, you will have a small window to purchase and sell stocks. You need to be able to buy the stock when the price is low and sell them when the price is high within a day. And to make accurate price predictions, you have to use technical analysis to your advantage by assessing historical pricing and identifying how the prices will move in the future.

As a newcomer in the world of trading, it is critical to outline a risk management plan upfront. This will help ensure that you only trade what you can afford to lose. A wise approach to risk management would be to trade with an experienced broker and establish a stop loss level for every trade.

Determine and commit the number of funds you are willing to risk in each trade. Experienced traders risk less than 1-2% of their funds per trade. So, reserve a surplus amount you can trade and are prepared to lose, just in case.