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Are there any rules for Intraday trading?

Trading in Intraday can be successfull if certain rules and discipline are followed…!!

Now coming to the rules to follow :

  • Exit is more important than entry – Make sure you make timely exits of your trades.
  • Trailing Stoploss – Profit is the only thing that counts in the market. The biggest mistake that a beginner makes is keep holding on to trades beyond stoploss in the hope of profit and exit a profitable trade just at target. Always maintain a trailing stoploss and let the market decide how much profit you can make.
  • Do not fall for greed – Always have an intraday target (amount of profit) in mind, and once that daily target is achieved devote your time to studying and learning. Do not overtrade in greed.
  • Breakeven point – Always calculate whats the point where you start making profit from after paying brokerage and taxes.
  • Low Brokerage Account – Never trade from a high brokerage account like ICICI Direct or Sharekhan unless you are trading very high amount or else brokerage will eat majority of your profits. Use Zerodha, Upstox, etc.
  • Avoid movement against market – Although trading against Nifty trend can be profitable but its not advisable for beginners

Tips to identify stocks for intraday :

  • Trade in stocks following their sectors trend – Momentum trading is the best way to trade stocks intraday.
  • Choose Liquid Stocks – Never trade penny stocks or stocks with low volume for intraday
  • Support or Resistance – Identify stocks near their support or resistance, and trading with high volume, because these stocks are most likely to breakout

Thanx for reading🙂

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Praveen Maxter

Praveen Maxter

An Intraday trader with 6 years of experience.

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