do you prefer investment strategy…4r short term and long term. else tell me wats your take on share market??

just few days back my friend bought essar oil 1000, ptc 1000, Rnrl 1000, gmr 600 recently for intraday. price gone down so he tought to hold and sell tomo but still down. you cannot keep the stocks with more then 3 days time limit if you dont give the cheque for shares bought.he dont have that much money to give cheque. so he sell everything in loss???

and last week he bought chambal 2000, videocon 1000 for intraday, price gone down. so he was holding with debt 4r 3 days time and sold everything in loss.
no he is not a beginner, he is in this from past 4 years..

for day trading should u buy small quantity.so the risk becomes less or you should buy like my friend.