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7 ways of Intraday Trading

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7 ways of Intraday Trading

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  1. 7 ways of Intraday Trading

  2. What is Intraday trading? Buying and selling same quantity of financial instrument like stocks, future contract or option contract with in the same trading day is called Intraday Trading. Take an example. Suppose you have bought 100 shares of company XYZ during the open of market hours and then you sell the same number of share before market close then it is called intraday trading. • 1. Research Company before market opens. • Shortlist companies on the basis of news, corporate action (stock splits, bonuses etc.) and upcoming events. Research these companies to know the trend of these stocks. This helps you to take buy or sell decision. If you don’t get time for research then take help of Free Intraday Tips to get 2-3 stocks trend recommendation, Trend of Nifty and Bank Nifty daily. • 2. Trade only in 2 scripts at a time. • Always try to diversify your portfolio by taking different stocks from different sectors. Always try to trade in one or two stocks as stock movements need to be closely tracked. • 3. Choose Highly Liquid stocks. • Trade in large-cap, mid-cap, index based stocks in which large volume shares are traded. In low volume sometimes you cannot square off your position and end up holding shares.

  3. 4. Decide entry and exit price. • Before you trade the stock, find the buy or sell price and trend through technical analysis or analyzing support and resistance level. You can get trend,support and resistance level in Free Intraday Tipsor use Technical chart (Amibrokerpicture given below).

  4. 5. Use stop loss and trailing stop loss. • It is seen that maximum traders don’t use stop loss but it is recommended to use stop loss to avoid heavy loss. In case of profit trader should use trailing stop loss to contain profit. • 6. Don’t go against the market trend. • Find the trend and trade with the trend to remain in profit. Going against the trend may wipe out your money in one day. • 7. Control your emotions. • Fear and greed drives the market. Emotion has great impact on intraday trading. So control it and use your mind like a business man during trading.

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