1. Select a few stocks for day trading before market opens. 2-3 stocks maximum.
2. Trade only if technicals support your trade.
3. Do not hurry to make a trade, analyse the rationale for the trade from 2-3 different angles, read my real trades to understand this more. (30 min chart, 5 min, divergences, pivot, days high etc.)
4. Day trading is not investment and you cannot catch bottom and top. Be fast to enter and exit from a trade. Take small profits, do more than one trades.
5. At any given time do not have more than 2 open positions until you are really experienced.
6. Do not carry any open day trades to next day. Majority of the times you will exit in loss the next day, since morning few minutes will be erratic for any stock and panic exit will be made.
7. Do not trade on any real time news (results, upgrades, order information etc). But if you have a news from previous day, you can trade based on that.
8. Do not go for any paid tips since a vast majority of them do not show right picture of their performance. Also tips do not reach you on time. You will not be able to trade 100% of tips in a given day. All this will result in loss.
There is lot of money to be made in share market. But key is discipline and knowledge. You have to build discipline, knowledge you will get from this blog.
2. Trade only if technicals support your trade.
3. Do not hurry to make a trade, analyse the rationale for the trade from 2-3 different angles, read my real trades to understand this more. (30 min chart, 5 min, divergences, pivot, days high etc.)
4. Day trading is not investment and you cannot catch bottom and top. Be fast to enter and exit from a trade. Take small profits, do more than one trades.
5. At any given time do not have more than 2 open positions until you are really experienced.
6. Do not carry any open day trades to next day. Majority of the times you will exit in loss the next day, since morning few minutes will be erratic for any stock and panic exit will be made.
7. Do not trade on any real time news (results, upgrades, order information etc). But if you have a news from previous day, you can trade based on that.
8. Do not go for any paid tips since a vast majority of them do not show right picture of their performance. Also tips do not reach you on time. You will not be able to trade 100% of tips in a given day. All this will result in loss.
There is lot of money to be made in share market. But key is discipline and knowledge. You have to build discipline, knowledge you will get from this blog.
1 comments:
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
Sterling and Wilson IPO
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