Different Avenues for Day Traders in India
Day Trading is no longer a practice, but a profession that has evolved over the past few decades. Thousands of individuals engage in various form of day trading, sourcing margin from different sources in order to avail significant monetary returns over a period of time.
Day Trading is an art, be it stock market, commodity market, or currency market. You need to be good with your trading skills before you venture into any of the domain with the intention to earn lucrative gains. Here are a few avenues that will promise you appreciable returns over a period of time.
- 1> Stock Trading
- Stock trading is one of the best avenue in the market to earn lucrative gains in a short period of time. This market comprises of equities and equity options that are traded in the market. There are several brokers in the market that provide share market trading services to traders. Stock brokers such as Angel Broking provide online trading platform as well as complimentary services such as call-and-trade that assists traders in stock trading. In addition to equities, there are provisions to trade Futures and Options, thus making share trading easy for traders.
- 2> Commodity Trading
- Next to stock trading, there is an emerging avenue of commodity trading in which day traders can prove their skills and achieve monetary gains. Unlike the stock market, the commodity market in India is not standardized. There are two exchanges present in India – MCX and NCDEX. Yet most of the trading is done over-the-counter. For day-traders, stock brokers in India offer a dedicated trading platform. However, the number of commodities available for trade will vary from broker to broker.
- 3> Currency Trading
- Unlike commodity or share trading, currency trading is available at a global scale. The currency market works on 24x7 basis, 365 days a year. Moreover, it is available worldwide, thus there are various ways to trade in this market. Day traders can make huge profits by trading in currencies. Moreover, there are more than 200 currencies available in the market and the market capitalization is in Trillions of dollars. Thus, day traders are able to book profits at an enormous scale only if they are able to track the market movements in an efficient manner.
These are the different avenues in which day traders can excel and make profits for themselves. These avenues are standardized and well-regulated, thus making them a preferable option.