Groww app offers a seamless way to beginners to start their trading journey and thus attracting most of the Millenials towards it. But most of them face the challenge of beginning the trade. Are you one among them then here is the complete detail of how to do intraday trading in Groww app.
Let’s delve inside to know more!!
How to Start Intraday Trading in Groww App?
Being a discount broker, and registered with NSE and BSE, Groww allows traders to do intraday trading in equity and currency. For this, it offers mobile and web trading platform, that further makes it easier for its clients to pick and analyze the stock for day trade.
Apart from this, the broker charges the minimum intraday trading charges that further give an opportunity to its traders to make more profit.
Now when it comes to starting intraday trading in the Groww app, one has to begin by opening a Demat account with the broker. Again targetting the young traders, it comes up with the app and features that make it easier for beginners to register and signup with the Groww.
It is a hardcore fact that trading in the share market is risky to buy; it is also true that the risk helps in generating profits in the industry.
So, therefore, to help out the traders, Groww offers the training to help in gaining hefty returns.
Hence, it is the right time to trade in intraday with Groww. For that, the following segment reveals the different procedures on how to do intraday trading in Groww app.
How to Buy and Sell Stocks in Groww App?
To start with intraday trading, the very first question that might be revolving around the head is how to buy or sell the shares in the Groww app. Isn’t it? If yes, then do not fret as the following segments will cover the buying, selling, and stop-loss procedure in detail.
It is time to understand how to do intraday trading in the Groww app by placing the stop loss order before executing the order.
Therefore, to know more, let’s dive into the following segments for detailed information.
Likewise, after gaining the expected profit, if you want to sell out the share that you bought, then you can go with the following steps through the Groww app.
Select the stock you want to sell.
Choose the Quantity if more than 1 share is bought of the same scrip.
At last, it is time to click on the Sell button to execute the order.
Moreover, the traders can earn will the falling market too with the short selling. But how? For that, let’s dive in!!
If you are thinking of short selling, then click on the stock you want to sell first and then select the Quantity (number of shares) you wish to sell and click on the Sell button. Hence, the order will get placed.
After checking out the price of the same share that starts gaining again, it is the right time to exit the selling position and Buy the same share to complete the order of buying and selling the stock in intraday trading.
In short, short selling refers to the trading in which you sell out the shares first and then purchase them to complete the trading procedure.
How to Put Stop Loss in Groww?
To minimizes the risk of facing losses on the intraday trades, it is an easier way that can help to exit the stock whenever the stocks start falling, and it is through the stop-lossorder.
To check how you can place stop-loss orders in the Groww app, consider the following steps.
Click on Advanced Option and select SL Order that defines Stop Loss order. Now click continue.
A half window will appear on the screen that will be asked to complete the pieces of information like the number of shares you want to purchase along with the Trigger Price on which you want to set the stop loss and then click on Buy to execute the order.