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Positions
What?The stocks or futures and options contracts that you hold during the trading day.
Why are they important?It can generate profits or losses based on price movements. It lets you make fast profits (or even losses) without overnight market exposure. 
How are they managed?By buying and selling securities based on their trading strategy and market conditions, aiming to profit from short-term price movements.
Important It demands constant market watching and involves more risk than long-term investing.

Important: Intraday trading requires a good understanding of market trends, technical analysis, and risk management. Have a well-thought-out trading strategy beforehand.