Intraday Trading Rules.
Intraday trading in India means the financial transactions carried out in the stock market by a trader within a single day.
Of course, intraday trading and day trading stocks is very difficult, especially for beginners. Not only it is difficult, but also it is not safe for the new traders.
Profitable Intraday Trading depends on both when you enter the stock and when you exit the stock. Here I am going to share important strategies and rules to earn profit in intraday trading.
To enter a stock using these strategies, we will do so when a stock breaks out of a very strong resistance on high volume.
We give necessary training in intraday trading and stock tips which help you to earn profits in intraday trading.
One method of learning how to be patient and discipline is to keep a detailed log of every trade that you take.
Intraday Trading Rules
At the end of the day (or a week, or month), replay every trade. Then compare the replayed trades to your trading log. If there are any differences, you should be able to determine what caused them. Hopefully, know what you need to avoid the next time.
Another method of becoming patient and disciplined is to have absolute confidence in your trading system. Knowing that your trading system will make money over the long term can be enough to overcome the negative emotions. You will overcome the emotions that occur when you are experiencing a negative profit loss.
The only way to build confidence is to test your trades repeatedly through paper trade. If you have tested your trading system over a significant length of time, and it is consistently profitable, there is no reason to question that it will continue to be profitable. Actually here is the lack of stock market education.
Deciding when to enter and exit trades is one of the most basic functions of a day trader, and it is important that these decisions are made as efficiently as possible.
Being decisive is vital to successful day trading. Otherwise, you will only sit and watch trades that you should have actually taken. Being decisive does not mean being bold, and taking trades that you are not sure about, but it does mean acting promptly when a trade does come along.
Mistakes To Avoid During Trading
Stubborn people usually refuse to admit that they are stubborn. So recognizing that stubbornness is causing problems with their trading can be difficult.
Stubbornness usually causes several different trading mistakes, with the following mistakes being the most common.
If you are making any of these mistakes in your trading, it is probable that you have some degree of stubbornness in your personality. And that it is affecting your day trading.
For any other reason, these mistakes are actually easy to overcome, but not when they are being caused by stubbornness.
In order to overcome these mistakes, stubborn traders first need to recognize that the mistakes are due to a natural human emotion. So, there is nothing wrong with admitting this.
Being stubborn is a form of control. It may help to think that by recognizing the cause, you can have more control over yourself. Hence it helps you more in your trading.