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Many newbies of indian stock markets who got new demat account starts their investment career through day trading. However day trading is not an easy investment as it requires a proper approach and a person should never put his money in a single stock while doing day trading.
Many newbies in day trading often get confused while litening to so much of online tips which might also tell stock name to purchase on that day. here in this post I would provide 10 basic tips for doing day trading which are useful for newbies of day trading in indian stock markets.
10 best day trading tips for newbies:
1. One should not put whole of the money in one type of stock ie do not risk more than 10% of the earmarked trading capital for a single trade and invest in different sectors.
2. Stop loss is a pre requisite for doing day trading.
3. Avoid being a compulsive trader and thus avoid overtarding as overtrading a clear recipe for more losses.
4. One should track a trade so that a profit making trade is never converted into a loss making trade.
Related posts -
Intraday trading tips
3 Tips for day trading
5. Be with the trend of the market and if trend is not clear than avoid trading.
6. One will make profit only in active markets.
7. Preferably if one is a large scale investor than one should invest in a number of markets which may range from equity,forex, derivatives etc.
8. As a day trader avoid trade to be struck as a limit order and undertake trading at the offer price to take advantage of trend.
9. As a successful day trader have another account earmarked where all the profit should be parked.
10. Avoid trading with a view to scalp the profit.
10 best day trading tips for newbies:
1. One should not put whole of the money in one type of stock ie do not risk more than 10% of the earmarked trading capital for a single trade and invest in different sectors.
2. Stop loss is a pre requisite for doing day trading.
3. Avoid being a compulsive trader and thus avoid overtarding as overtrading a clear recipe for more losses.
4. One should track a trade so that a profit making trade is never converted into a loss making trade.
Related posts -
Intraday trading tips
3 Tips for day trading
5. Be with the trend of the market and if trend is not clear than avoid trading.
6. One will make profit only in active markets.
7. Preferably if one is a large scale investor than one should invest in a number of markets which may range from equity,forex, derivatives etc.
8. As a day trader avoid trade to be struck as a limit order and undertake trading at the offer price to take advantage of trend.
9. As a successful day trader have another account earmarked where all the profit should be parked.
10. Avoid trading with a view to scalp the profit.
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