Those who attempt to day trade without first grasping the basics of the market frequently lose money. Being able to analyze technical data and read charts are valuable skills for day traders. Despite this, charts can be misleading if one does not fully understand the market and the inherent risks involved. You should conduct due diligence and become familiar with the specifics of the items you are trading.
Day traders only risk capital that they can afford to lose. In addition to protecting them from financial catastrophe, this removes emotion from their trading. To profit from intraday market changes efficiently, a substantial amount of cash is often needed. As the majority of day trading is done on margin, and dramatic market movements can trigger large margin calls on short notice, having enough cash is essential.