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“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

2 Oct 2018

STOCK MARKET--What are some tips for day trading?

I am doing day trading consistently for more than 2.5 years and able to generate good returns with the help of some predefined rule and disciplined trading which are as follows :-
1. Firstly, one should find out the strategy of picking up the stocks for intraday and along with that having success rate for more than 75%. Once you are able to find out the strategy don’t jump into real trade and go for paper trading and check the success rate
2. Keep the proper Stop loss while entering the trade based on support and resistance and putting stop loss is mandatory in intraday trading otherwise there is chances of wiping out of capital in single day only
3. Use of Trailing stop loss, one can use the trailing stop loss to maximize the profit and to save the capital. For eg, Someone purchased 100 shares of XYZ at Rs.100 on the hope that it should increase and target price is Rs.105, after that share moves towards 103 in that case one can put the trailing stop loss at cost or at 101 to save the capital and later on that shares move towards 107 then in case one can put trailing stop loss at 105 for further maximization of profit

3. Don’t over trade and set a daily goal and stop doing trading once achieved the target of profit as well as loss
4. Trade in the stock which is liquid stock which means having good volume so that there should not be any problem in entry and exit and also check whether there is any news in the stock because stock becomes more volatile if there is any news
5.You may also check volatile index daily. If it is above 13 you may expect volatile market at any time during trading hours. So be cautious in putting in stop loss figure.
Hope I am able to clarify, so try for your luck.

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