Trading in intraday is always very risky and can wipe out your
capital in very quick moment of time. Though
most of the trader likes intraday trading, which involves buying and selling of
share in same days and keep the heavy returns using high leverages knowing it
very well that’s it’s a heavy risky game.
Apart from your Technical and fundamental there is Some emotional aspects
which you should take care Before you get into the act of day trading. Here are
some disciplinary actions which a Day trader should always follow.
1. Discipline is the prime key to success in
intraday trader. A day trader has to be a very discipline less greedy while
trading intraday. You should know it very well fears and greed is the greatest
enemy in stock markets.
2. Knowledge
is the key which will uplift your personality help you to survive in the
markets. You should be always keep reading or get updated yourself with the
global financials updates. Do your homework’s before the market opens analyze
the stocks technically fundamentally and emotionally based upon the markets
data of national stock exchanges
3. Avoid
the noise. A day trader always gets confused with rumors or market
noise which keeps circulating during market hour. Once you have right knowledge
and strategy then it would be wise decisions for you to ignore TV analyst. Basically
the TV analyst might contradict your knowledge’s and analysis or social media
hype will jumble up your
trading strategy and you end up with losses.
4. Never
exceed margins. Now a days all the broker allows to trade with 5 times, 10
times, even some brokers allows 20 times. But you should have a control on
yourself how much margins you should take. Its always prefer to trade in with
less margin or less quantity. It will help you to calm your palpitations keep
you away of fear of stop loss before executed.
5. You
should have a feeling less mind and act like a robot. Keep your emotions asides
if its hit the SL you should exit without any attachment with the stock or with
the company. every trades is new trades for you, every day is new days never carry your emotions one trades to another or one days to next days.
6. Always
try to trade in high liquid stocks . Better opt nifty 50 or nifty 150 or Nifty
200. or else you might loose money if there is rate gap. I’e Huge
difference between buyer and seller. less liquid stocks may give you trouble to sell at your expected prices.
7. Always trade
with Stop loss. A day trader never trade without Stop loss. Decide your stop
loss & Target before initiate a trades and what ever hit first exit the
trade. Never get too much emotionally attached with scripts or any revenging
attitudes that’s you have to take out the money back from that script only.
There is end no of stocks which will give you the opportunity to recover your
loss.
8. Never
average your lose making trades. Some its found a day trader psychology they
always keep booking profit making trades and keep averaging
loss making trades and gradually increasing loss and decreasing profits before
the targets or stop loss.
9. Money
management is the finest thing which will keep you profit club. Trade with your
surplus money which you are ready to loose. That should be not like that you
kept it aside from your daily or monthly budget or medical expenses. Keep
tracking all your trades, profit and losses,
Risk and reward ratios. Effective money
management will always helps you to be in disciplines and that discipline
will help you to win the race
10. And finally
once you achieved your target book the profit and shut down the systems and
enjoy your days. Most of the time it happened a day traders always start with
good profit but end up with loss due to uncontrollable greed for money and end
up the with loss. So plan according how much money you actually require to meet
the too ends. Never try to earn unlimited income or goal-less money.



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