You are a beginner in market, Intraday traders should follow some strategies and tips in order to avoid losses and gain huge profits:
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- As a Beginner, you should only trade in EQUITY, not in Futures / Options
- First, it is very important to know all types of stocks of major companies you want to invest in.
- In order to do money management, you should fix your amount of investment capital well in time.
- Initially, you should start with low investments because you are new in the stock market. It is very important to understand the functioning of the stock market before making huge investments.
- Indulge in Margin trading as it is considered to be always profitable.
- It is best to buy shares of many companies across different sectors.
- To protect your investment from heavy loss always keep open the option of Stop Loss.
- Be attentive and careful about financial news and stock market movements.
- The best is to trade in high volume index based stocks.
- Liquid stocks should be preferred because they have very high volume and entry and exit in such stocks is very easy and fast.
- If it is not going good in the stock market, exit as soon as possible. Don’t stick in there with an average status.
- If you are not a professional trader, AVOID Intraday trading
- Do not Invest all your MONEY in one Stock
- Diversify the Risk, invest in minimum of 2 - 3 stocks
- When market is Bullish, take LONG positions in STRONG stocks
- NEVER initiate Short Strong Stocks
- When market is Bearish, take SHORT positions in WEAK stocks
- NEVER initiate Long positions in Weak Stocks
- When some stock moves up/down 2-3% in 5 mins, do not jump to take positions. Most of the weakness / strength might have been finished in that counter.
- HAVE PATIENCE. Your target may not come in 5 mins always. It may take hours together.
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