Intraday Trading Practical Step By Step Process For Beginners
Intraday Trading Practical Step By Step Process For Beginners
You want to know what is a
trading process? How to start
trading? How to do day trading ?
What are the important steps
involved in day Trading ? How we can
do intraday by following proper steps.
Lean how you can do intraday trading in
share market properly and effectively.
This is a practical step by step
systematic process that teach, guide
and tell you, as a trader how you
should start doing trading in stock market
and make profit from it.
It is easy,effective and reliable trading method. so lets make it more better.
Try to read and understand each and every step carefully and think about it and apply during trading this is not only one and fix process but this is systematic so it helps you, to start and make your trading easy , effective and reliable to make profit and not to lose money in market.
Step By Step Intraday Trading Process For Begginers :
Intraday Trading: 1. Find Good Stock
First step of your trading is Find
the good stocks or share
Which are good for intraday trading .
Make a separate list for intraday
trading and keep watching it all
alternately before trading . So
you can easily and fastly compare and
track in which stock moment is good
enough and you can take the position.
Tips : keep limited stocks in list
other wise its more difficult to
watch all stocks and it creates
confusion about which should buy or
sell.
Limit makes your brain work fast
and take decision. Watch 3-4 stocks
for one day and another for next day
which has less momentum.
8-10 shares is good number and you
can keep it in list.
Good stocks for intraday trading from nifty50
Intraday Trading: 2. See Volume
Second step is, see the volume for
while, volume is total adition of both
buyers and sellers of
traded shares. also see the previous close
price and todays open price and same time
days low and high price and difference
in days low amd high price and now see current
price of stock and keep them in mind
to calculate other things because
that will act as reference for you to choose
a having good volume,mometum Shares.
volume you need to constanly
wacht in trading like before and
during trading.
See for or keep the minimum
of 20 lacks
volume.
Intraday Trading: 3. See Candle Stick Graph
This is heart of day trading or intraday. now you have chosen the stocks from your list and decided that you are trading in this stock but wait don't final it because the graph will decide where you will take position in that stock or not.
You have seen the volume, prices so
now keep them in mind and watch the
candle stick graph of that stock and
same time apply your skills and
knowledge, techniques to identify that graph like
it will go up or down. But keep
watching it unless you are sure and keep
eye on volume.
Carefully watch the graph of 1m, 2m,
3m
and 10m for all referance which is good and comfortable
for you to understand it fast.
graph gives you a clear idea and
you can take decision according to
that to trade trend.
Intraday Trading: 4. Support and Resistance levels
This is very important because this
will decide where you have to take
position for trading .
What is Support and Resistance
levels :
the support levele of price is
where price fluctuates(up and down)
happens many
times and there price is trying to
stable so price
doesn't fall below that levels but this
is temporary and called it support level.
resistance level is
where the price hits
as high point of fluctuations for that
sepecific perid ( you can see it well for
half hour market period ) once or
many times and start decreasing
after that and not go above
that level is resistance level
for stock.
See the support level
of price and also
resistance level both same time.
once see the previous day
graph also and their prices levels
so you can get
ideas about previous levels and that
will help
you here to take trading positions like
how much price is moved on last day
or how much it can be as a reference.
This will help you to analyze the
graph and take decision to identify
positions and ensures that you are
taking right
decision.
Intraday Trading : 5. Trade Position
This is second very important thing
and the start of actual
trading and test of your decision
that is right or
wrong. So after all above step
you sure then take position in that
stock means buy or sell it according
to your current analysis.
Trade position is very important because
it decides how much and many times you
can make profit.
Tip : Try to buy the share below price like 0.50/0.70rs 1rs of current price because there is fluctuations so you can add more 0.50 0r 0.70 rs profit to your total profit. this not happens every time but you try it otherwise change the order.
Intraday Trading : 6.Stop Loss
limit your loss
Stop loss is used to limit your
loss
or to prevent your amount from being lost
in reverse or downtrade market situations.
You as trader use this stop loss
option but it is not must that you should
use it evey time. you can use it as per
your trading need, style and experience.
it is good thing to use stop loss but
not neceessory in every trade.
To set right stoploss price
is need
a good careful study and technical analysis.
if you know this then you can use it.
if you dont know then its better to learn
it how to set it first as per tarde.
you need to place stop loss
order while placing buying or selling
order.
For example : if you
buy any stock
and set the stop loss order before but
near to buying price then this can be
trigger any time because of
large price fluctuations and your trade
will exit before reach to your sell order.
Tip:
Use stop loss wisely and properly other wise
it will make your loss before any trade
execute.
How stop loss can
be make your loss in trading
Intraday Trading: 7. Profit Margin
Profit per share
First see how much amount you have and how much quantity you can buy or sell. Then calculate brokerage and other charge (if applicable) this will help you to set right profit margin and trade in market to make profit.
Tip: always keep less or proper profit margin according to your quantity, brokerage and your trading frequency. less or fix profit margin will ensure your trade exit in profit and if you get the opportunity then you can increase it at that time.
Intraday Trading: 8. Exit Trade
Sell Order
This is as much as important like
entry when first order is complete
then place the selling order by calculating
it. because if you take exit at
right time then you can book your
profit and can wait for next opportunity.
Don't wait for more time if you are
unsure about current state then take
exit in profit.so place selling order it will
automatically execute when reach.
other wise this will make your loss.
If your are sure then increase your
margin likewise but if you are not sure
then reduce it but try to exit in
profit.
Tip : Adjust your selling order according to current situation and market condition and take exit. May be that will reduce your profit bus keeps you in safe zone. always try to exit in profit. and profit will be not same every time. Intraday Tips and Techniques
Intraday Trading: Summery
Be Careful
you as trader need to do these all the
things at same time and act fast and
that is not easy but you can do it
if you do it systematically and
with deciplane.
you cant learn trading without practically
doing it yourself.so do it with less
amount which you can afford to lose.
you need do study, analysis and mainly
use your brain to be a good trader.
its hard
at beginning but not impossible.
last but not least dont do
trading unknowingly, without study,
in sudden excitment, by seeing videos or
viral posts this makes trading much
riskier than it is actually.
Related Posts:
Where do you trade to make more and safe profit
How to do intraday trading smartly
Intraday mistakes trader do and lost money in market
Intraday trading tips and techniques
How to start investing in share market easily
How to choose right stock for investing
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