How To Do Intraday Trading From Your Smart Phone
Intraday trading is one of the trading way to earn profit almost everyday. You know this and might be you did this or are doing now. Intraday trading is much riskier than delivery trading because it a is daily mostly hourly basis profit making method so here are risk of fast losing your money . Risk is present in all the things but also you should take little more risks so you can accomplish your targets.
You heard this, For intraday trading you need computer , some softwares , analysis tools , robot analysis and different more things but everyone don't have all these things or may be you can't afford it then also you want to do intraday trading then what............. So you can do it from your android smart phone also and earn good profit in little amount but regularly.
There is lots of difference in computer and mobile so here you must be much careful during trading.
You can do it from mobile phone if you are ready to take some risk and want to try new ways and methods then you can definately do it.
Here is a step by step rocess, tips and method which tells you how you can do it from your smart phone:
First of all you need some things and should be prepare for Intraday,
• Android Mobile
(OS 5.0 and above) or iOS
Make sure your phones operating system is 5.0.1 and above to support all the required Apps)
• Your Demat account app
• Moneycontrol app
• IIFL app
• Notebook
You can use another trading apps also which you know they are good and you are familiar with it.
1. Prepare Yourself
Be ready at 8.00am because market is open at 9.00 am so before maket is open you should be search for companies and do some study about which company you will going to buy for intraday trading .
Open money control app and see some things on it like :
- search company name
- What is previous close price of share
- what is previous open price
- what was volume last day
- how much shares are traded
- what was the movement in it last day
- how much share price has changed ( Increased or decreased )
- company is from nifty -50 or not.
Study all the things and write it in notebook so you can compare multiple companies easily till the market is open.
2. Find Companies
You should find two three companies before buying any one because fist you should compare these 2-3 companies and then based on comparison buy company for your Intraday. You have two three companies in your list because all the companies price are different so you can decide which should take in which you can buy more quantity.
3. Know what to do
Now open IIFL app and any app which show candle stick graph well.Observe the Market carefully first only. At 9.00 am the market will pre-open so just Obseve the movements of selected share price in candle stick graph in app
You can't see candle stick graph for one day in Moneycontrol so IIfl is best for watching candle stick graph and to understand current condition.
In First half hour of opening , the situation is unpredictable because share price raise up or down within seconds and then try to stable so just Obseve this movement . It shows you the price direction like positive or negative then you can decide you will buy the share or sell it.
4. Buy Share
Observe the market until you are sure about the direction of price that is price will increase or decrease.
Open your broker trading app and place the order for buy or sell which you have decided.
Always place the order -2 rs below the current trading price of share because in the morning there are more fluctuation in the price because morning is trading period of trader and most percent of trading has done in the morning period so take advantage of it . if it doesnt work then buy at current share price.
5. Observe Carefully
Consistently watch the 10 min. candle stick graph in app observe the movements. Then see what is volume at start and now, so
- it increased or decreased.
- How many shares are trading.
- How much are buyers and sellers
This will tells you price will increase or decrease. Green candle shows gain in price and red candle shows drop in price.
6. Stop Loss Order
Now you have bought the share so now place the stop loss order before your buy share price. And as per how much loss you can afford per share ( For eg 3 rs or 5 rs ) . Place it immediately because price can be increase or decrease within seconds.
7. Calculate Brokerage
Now do some calculation.
how many shares you have bought and at what price so now calculate your brokerage other charges if you need to pay . (May not need to pay for all brokers ) this is must because if this charges are applicable then you need to consider it because it will deduct from your profits.
Now based on this calculation you can decide how much profit you need to earn per share and how minimum margine you have to set for your trading. So set your profit margin. Now you know the profit margin then place the selling order at that prices and continue your observation.
8. Profit Margin
Always set less profit margins so your target will easily hit and you can make the profit . Don't expect more because whatever will happen you need exit at the end of day so decide based on this .
So for this you need to buy more quantity shares therefore we said in first steps that you must ready before market open to observe ,find , study some good companies before market is open.
For example :
If you buy 100 shares at 800 rs
Then place stop loss order at 795 rs and selling order at 805 or 808 or 810 depend their condition and movements.
9. Selling Order
Here you have placed selling order so you don't need to worry about selling because when prices will increase and hit your target price it will automatically sell.
But sometime this is not happens because this is market and can change any time so why you need to observe it for this:
- In any case target is not hit you need to change your selling price.
- or may be it going in apposite to your plan then to exit quickly.
10. Compare Things
You can do intraday trading multiple time in day and also in different companies. You can Look for other companies which are shortlisted in the morning and also you can go for trending companies or top gainers of the day but you need do some study before buying any share I know that intraday is doing for getting benefits of price fluctuations and earn money.
But every time same strategy can't work you need to change your strategy as per market condition . So for this you need to do little study every time other wise you will lose your money like other million peoples ....
Try to find small positions in the whole day from the candle stick graph. Stick to graph all the time because this is the best graph which helps you to take overview of current and incoming situations and make your plan.
If you can read and study candle stick graph then you can find the position in graphs and make profit. If you cant then learn it well first.
Smart Tip :
If you are new one and have loss in trading sessions then don't worry about it or be discourage yourself because without loss you can't learn things well and this makes you good trader.
Related Article :
How To Do Intraday Trading Smartly
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