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Clearly, day trading is not for everyone. Certain qualities will decide your success or failure as a day trader. Here is a list of qualities which we feel are essential to succeed as a day trader.
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Top Most Intraday Trading Tips By Dhanashri Academy
Day Traders must dedicate their time from starting till closing
By heart the latest reports, including technical data regarding the stocks in your watch list
Avoid investing in penny stocks that have very low liquidity
Concentrate only on one or two stocks so that it will be easier for you to follow them online.
When beginners buy stocks, determine the entry and target prices well in advance so that they need not miss maximum gains from market upside.
One must allot 10% to 15% of the stock portfolio for doing online day trading.
It is always better to buy the stocks of the company that has met with good financial gains or has announced good news.
Intelligent use of stop loss facility must be practiced for safe trading.
Constant analysis of stocks and trading results is necessary so that modifications can be made for the good.
Having contacts with other day traders and becoming a member of a network will be very useful for exchanging new ideas and news.
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