People lose money in intraday trading because they are unable to apply basic rules. Let’s take a look at ten of the most effective intraday trading tactics. They are the 10 golden rules that can help you trade intraday successfully.
10 Golden Rules For Successful Trading
1. Create a trading plan before you go trading live. Do not take random trades.
2. Do not employ full capital in 1 trade. Use only 25% capital. Saving capital should be 1st priority.
3. Always use a stop loss.
4. Set a target and book profits accordingly.
5. Avoid overtrading if your SL is hitting continuously
6. Don’t trade against the market trend.
7. Maintain a good risk-reward ratio
8. Do your own analysis and don’t trade on others’ tips.
9. Write a trading journal.
10. Don’t trade on margins or take loans. Lose what you can afford.
Summing up
Follow the above rules for a successful trading career. Day Trading is a high-risk instrument in Stock Market. Learn before you earn.