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Thursday, 22 June 2017

Personal Intraday Tips for Beginners; My Trading Mistakes;

Hi All, 

  Here are the Tips for Intraday for beginners and learners of markets. These are not copy paste tips as you can see thousands of guidelines for intraday.

These are purely my Experiences you can say my mistakes, which you can eliminate by knowing this and be a better trader than me.

1. Don't follow calls and if you want to follow try to understand, why the call has been generated.
2. 15 min or 17 min candle stick charts are always best for Day Traders mostly beginners
3. Always aim for 2-3 points or 0.5% initially, more than that will trigger your greed.
4. Place stop loss order as soon as your buy/sell order executed, later you may hesitate to do so.
5. Take small  losses when you have to, otherwise may end up with big losses
6. Don't trade with emotions, trade with candle stick charts.
7. Learning TA basics is must for you to do intraday, otherwise you are ineligible to do intraday
8. Enter trades only while crossing the resistance or support lines, don't enter in between.
9. Don't average a falling stock in intraday and don't carry your positions to next day using leverage
10. Before entering trade, decide the quantity by calculating the CMP - SL so that you know maximum loss instead of entering trade by calculating profit.
11. Intraday is more of Patience, Discipline and Psychology than knowledge
12. Never do revenge trading or never do over trading
13. Importantly for the first 6 months, don't trade in FnO, trade only in Cash Segment.

So all the best for your trading day, If you made any mistake, just come and visit here, I think you will find your mistake here.

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