We have Listed Eleven Golden rules for intraday traders so that they can earn more and limit the loses, we are advising them to trade in different sectors, not to average by buying more shares in losses, trading in different sectors, don't overtrade, always trade with trend, do not hurry to book profit. Also don't try to earn lakhs every day or to be crorepati in a day and most important stricly follow your stop loss.
If your trading capacity is Rs.1,00,000 -Trade only for Rs.50,000- Do not trade for Rs.2,00,000.- do not over trade.
Trade in different sectors
Do not be afraid to buy at high prices and sell at low prices. Do not buy just because it is a low price & do not sell because it is high.
Buy when there is bad news and Sell when there is good news.
Become the buyer when everyone is a seller & Become the seller when everyone is a buyer.
NSE & BSE will never close, every morning at 9.15 a.m. ( 5 days in a week) it will open. So do not try to be a millionaire in a day. It is next to impossible to earn money every day in stock market.
Do not average out in our share tips when market is not in favour. Limit your losses by keeping a stop loss order - Never cancel a stop loss order after you have placed it, otherwise you may loose more.
Do not hurry to book profit when market is in your favour - wait for the right time.
Remember that if you are caught in a SHORT SELL POSITION, high chances are that it will give back in less than a month. But if you are caught in a LONG POSITION it takes much more time to build (Sometimes we have to wait for 2- 3 years for our buying prices.)
If you consider 10 different reasons affecting the market (nse & bse)- on an average, 7 reasons are for bearish trend & only 3 reasons for bullish trend. Hence be cautious in taking a long position.
Do not forget to adjust daily expenses like Brokerage, telephone & Mobile bills, Internet charges, computer maintenance, etc. in the profits.
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