An active trader is somebody who buy and sell assets based on short-term movements
to profit from the price movements on a short-term stock chart.
If you want to be a successful trader you should have the following qualities:
Capital management abilities
You should have a considerable amount of capital is disposal with a predefined risk/reward ratio. It is recommended to keep the trade size reasonably low.
Knowledge over markets
A day trader should keep both eyes in fundamental analysis and technical stuff as well. Only the combination of both analyses would bring a good result. It is vital for a day trader to have as much knowledge as possible over the markets.
Having a good strategy
Even if you choose a day strategy, it is important to adopt yourstrategies with your current situation. A successful day trader must comeup with a new strategy almost every other day, or at least adopt their current strategy to the new market conditions.
Success without discipline cannot be achieved. It is very important you to monitor prices for wide periods of time without making any decisions. It needs lots of discipline. Just think that, if you rush on your decisions and after you see the market moving in opposite direction with your decision, it hurts! So, it is better to waste an opportunity, than to guarantee a loss.