1. Remember to use the stop loss efficiently while day trading.
2. If the stock market is trading in positive direction as compared to the previous day and one is short in a stock, than one can safely close the open position. The same is true other way also i.e. if one is long in a stock overnight and stock market is trading in positive as compared to previous close, than one can contemplate buying additional quantity of stock.
3. Benefit being contrarians in day trading in share market.
4. If the stock market is trading in a negative direction than remember to go short in the stocks which are trading in negative side and do not go short in those stocks which are trading in positive direction.
5. Remember not to go by pre-conceived notions and an example of the same is that it is not necessary that a stock which is weak today during intraday trading might be weak tomorrow also and vice versa is also true.
6. Monitor the overseas market because if US Markets have gone up overnight, than it is very high probability that Indian markets will open strong. One can check the rates of Indian ADR Prices and can thus benefit in Indian stock market by virtue of reliable information. However one has to be careful when buying stocks as the general psychology of public is to buy when good news is there. Thus Research for Indian stocks is of utmost importance.
7. Remember the guru mantra of trading in liquid stocks i.e. stocks with high volume because it provides an easy entry and exit in stocks.
8. One can undertake the paper trading before testing the day trading in actuality. However remember that to make money in paper and making money in actuality are two different things as paper trading lacks the emotion aspect.
9. Trade with a constant volume and do not get exuberated by gains achieved.
10. As a new trader one should trade with quantity of stocks which is manageable. Initially make constant endeavor to keep the fear and greed under rein else you will have lot of tension.
2. If the stock market is trading in positive direction as compared to the previous day and one is short in a stock, than one can safely close the open position. The same is true other way also i.e. if one is long in a stock overnight and stock market is trading in positive as compared to previous close, than one can contemplate buying additional quantity of stock.
3. Benefit being contrarians in day trading in share market.
4. If the stock market is trading in a negative direction than remember to go short in the stocks which are trading in negative side and do not go short in those stocks which are trading in positive direction.
5. Remember not to go by pre-conceived notions and an example of the same is that it is not necessary that a stock which is weak today during intraday trading might be weak tomorrow also and vice versa is also true.
6. Monitor the overseas market because if US Markets have gone up overnight, than it is very high probability that Indian markets will open strong. One can check the rates of Indian ADR Prices and can thus benefit in Indian stock market by virtue of reliable information. However one has to be careful when buying stocks as the general psychology of public is to buy when good news is there. Thus Research for Indian stocks is of utmost importance.
7. Remember the guru mantra of trading in liquid stocks i.e. stocks with high volume because it provides an easy entry and exit in stocks.
8. One can undertake the paper trading before testing the day trading in actuality. However remember that to make money in paper and making money in actuality are two different things as paper trading lacks the emotion aspect.
9. Trade with a constant volume and do not get exuberated by gains achieved.
10. As a new trader one should trade with quantity of stocks which is manageable. Initially make constant endeavor to keep the fear and greed under rein else you will have lot of tension.
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