Intra day trading is the most common and popular between traders. These kind of traders are those that can trade for a couple of hours during the day, trying to capture quick moves in the market during the busy sessions. Technical analysis is of paramount importance in this case. Mostly the 30minutes and 1 hour time frames are traded.
The intention of the trader is to capture some pips per trade which can vary from 20+ to 100+ pips per trade and a trade may remain open for couple of hours. However an intra day trader normally closes the remaining portion of the trade at the end of the trading session.
Intra Day Trading requires discipline and the trader must be capable of controlling his emotions – greed and fear! It also requires trade management skills. This involve setting an adequate and strategically placed stop loss, and clear profit targets. Patience is key here too. Of course you definitely need a number of profitable trading systems and good understanding of technical analysis.
