Most aspiring day traders start out without understanding the emotions that effect you when you are day trading. As a result many traders who may have had a good chance of ultimately becoming profitable don’t realize their full potential because they didn’t put together a plan on how to start.
One thing I will say and this goes for both swing traders and day traders and I mentioned it before in an earlier article, you cannot learn how to trade without actually going through the process with real money. If you are really interested in learning how to day trade, I will tell you that before you become a profitable day trader you must learn to become a great swing trader. Day trading is similar to swing trading, its just that day trading is swing trading on steroids or a fast forward experience of swing trading.
Once you begin to understand how the markets work and know how to read basic indicators such as TICK and TRIN, you will get a different view of the markets and understand how they behave at different times of day. Once you begin to understand how the markets trade at the open vs at lunchtime or the end of the day you will know how to better trade that time of the day.

Take a few days and only watch the pre-open and the opening bell and see how the volatility quickly rises and begins to fall off.
Then spend a few days watching the market as it goes into the closing bell and notice how stocks that have been trending all day react to the last few minutes of the trading day. Swing Trading and Day Trading use most of the same Indicators; the only difference is the time frame. At first it will look like a bunch of numbers flashing on the screen but after a while you will start getting in tune with the market and begin to understand how each part of the day reacts. Apart from four state-owned non-life insurers, private players like ICICI Lombard, Bajaj Allianz and HDFC Ergo are active in the aviation space. In the end it took BT Openreach 74 days to get us reconnectedIn the autumn, my TalkTalk broadband slowed down considerably and then stopped working. If you are unable to master swing trading then you really have no hope of being a successful and profitable day trader.

Before you start trading or even paper trading, you should spend a few weeks watching the markets. There is no way to learn any of this other than by watching the markets and monitoring your indicators to see how they react and more importantly what happens when your indicators are in conflict with each other. Once you understand these basic steps you will be in a much better position to begin day trading. Notice how the volume increases and more importantly how your chart indicators react to the increase and decrease in volatility.

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