What has been cursorily discussed so far is the range of time and the range of prices. The range of time has been defined as a maximum period as bounded by the opening time and the closing time. Any greater time period than that would encompass a larger time frame, which would move it out of the area of day trading.
Every legitimate trader is bound to play by these parameters: No trades can be executed after the closing trade. Open trades can be carried over in the next trading session, however, for the closing of the trade.
Thus, the limiting factor that defines the scope of day trading distinctly is the limit of time.
Because the day trader has access to the data of each trade, the issue of length of analysis is important: Should he analyze every trade tick by tick, or should he push to get his analysis closer to the daily parameters?
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