CS
21 Points
Joined May 2015
I have seen quite desperate in day trading, I would like you to provide some tricks of the trade.
1. Never try to take a big hand in one shot.
It means always try to do small trades and take small profits at all times in a single trading session. You may bring upon yourself loss also in many small trades. But the increasing effect of the total sum may provide you better profit for the day.
2. Use Real time day charts for seeing the trend of the selected stock. e.g. From yahoo finance etc.
3. Don’t try to trade against the stock market trend.
4. Always try to watch for the overall effect of the market/index of the selected stock.
5. Previous to starting the trade or selecting the stock it is always wise to watch it before charts and graph to find out it's (a) range of movement, (b) pattern of movement, (c) trend of movement and of course (d) support and resistance level for every range.
6. Always try to trade between the support and resistance level.
7. Always use limit prices and stop loss if possible.
And Bottom Line
8. Always be confident, mislead and never get emotionally attached to the stock.
9. Never try to control or defeat the market or the stock or even don’t be revengeful to them.
If trader you are finding all these things difficult and want that someone should give you then you should try the following website. It is all free:
Stock Tips | Currency Tips