Following are some good strategies with some rules:-
As the market closes do sure check that stock to be traded on next day keep at least 5 stocks in hand which are in support of moving average or below moving average. Now, moving average mostly can be any like 20, 50, 100 but keep chart time around 1 minute or 3 minutes.
- Trading day:-
Don’t be so fast at least sit till 15 min in front of market and watch market where it is going avoid huge gap ups and downs maximum sensex must be 100 points up or down not more than this.
Best Indicators are Moving average, RSI, MACD any thing can be used by you as per your knowledge. I’m personally going with Moving average as this indicates support and stop losses easily.
- Target and stoploss:-
Avoid stop loss and targets keeping in your mind set them in your device because the amounts in your mind will not execute your order, and will not let you achieve your targets.
Always check the trend if you are trading any bank like HDFC, ICICI any so check nifty and nifty bank also, because if trend is up and stocks are going down than there is some trap so stay away both things sgould be parallel.
- Guts and Emotions:-
Last but not least Intraday trading is most difficult and many people minds are here you have to see big losses and big profits no indicator can control your emotions here if your stop loss is not achieved be in trade it can make reverse any time as it’s been many time with me that i booked small losses instead of big profit so if you are correct so don’t be tense at that time.
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