It is essential to have a good understanding of the stock market which include a understanding of Risk-Reward, Supply-Demand coupled with good knowledge and discipline before conducting any trade activities. Always good to have a Trade plan. It is possible to open both a long position (profit when stock price goes up) and short position (profit when the stock price goes down). Positional trading – holding stock for more than a day. Intraday trading is buying and selling of stocks within a day.