There are a variety of ways to become an intraday trader:
1) Start your account and log in.
2) Enter your information.
3) Fill out the application.
4) Get your trading license and account.
When will I know if I’m good enough?
To qualify as an intraday trader:
1) You must be 21 years old or older
2) Your account must be at least $200,000;
3) You must hold a US bank account that is open at least one month;
4) You must show proof of financial background.
5) You must own a US bank stock.
How does an intraday trader get started?
Intraday trading requires an understanding of the intraday cycle, and how it works. The cycle is as follows:
• The “open” period: the number of open orders created during the day
• The “close” period: the number of closed orders created during the day
• The current active market order book: the total number of active orders at the exchange, for example: any “open” orders created during the day will have an “active” status during the closed period, and any “closed” orders will have an “closed” status during the active period.
• The market is a supply, to sell an open order, others must buy it.
• To buy an open order, a trader must place a buy order with his orderbook.
For example, assume you have at your current exchange a total of 1,000 open orders, divided into 200 open and 200 open. All the open orders created during the day must be bought. All the closed orders created during the day must be bought.
Each closed order will have no active status, and will remain in the open and open orders book.
If you take a look at all the active orders, you will see all the high volumes of orders, but the orderbook is empty.
What’s an intraday trader doing?
Intraday Traders make the most money by setting the price of a stock at the “open” price, and buying the lower prices of the other stocks. They can also close a sell order and place it in the high volume “close”, but they must wait until a new opening or lower price comes along.
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