What Strategy Should I follow While Trading Intraday on NSE?
Successful Intraday Trading Strategies for NSE
Intraday trading is the most productive thing, but it is equally risky also. It is an entirely different ball game as compared to long-term equity investment.
It is like moving from the traditional test match to the 20-20 format. You need to change the mindset completely.
Yes, intraday trading is indeed riskier than the conventional delivery trading. However, it has the potential of earning a fortune.
When the market is highly volatile and shows significant movements, intraday traders are the happiest people. Those who know the pulse of the NSE market reap enormous profits.
Intraday trading experts say that it is not a great idea to jump into it without any preparation. One should get a firm hold over the rules and strategies first.
Look at the stock trend
As mentioned earlier, you can earn superb profits through intraday trading. At the same time, you may end up with losing the entire money if you pick wrong stocks.
What is the secret behind picking the correct stock?
According to intraday trading expert, knowledge is the key to success. To predict how a stock will move tomorrow, you must know how it has moved yesterday?
Weak trends or incorrect assumptions will yield losses for you. Some important trends are:
- Open price for the day
- Stock volume
- Delivery percentage and quantity
- Future and options
- Price movement
Initiate the trade early
“Early birds get the worm”; the cliché holds true in case of intraday trading. According to the experts, the first 15 minutes are highly crucial.
The most turbulent time gets over, and the price stabilizes. The movement after that is limited.
If you are sure about the trend, then hold the position within five minutes of opening. Square off the position if you are sure about the price movement.
Fix your loss and profits
Yes, the biggest enemy of the intraday trader is greed. It can take away the whole profit in one shot.
For every trade, you must have the uppermost margin for profit and loss both. AS soon as you achieve the limit, sell out the stock.
Don’t regret if the stock price goes high later. It is part of the game.
Never get trapped into speculations
You will get hundreds of tips and so-called sell-buy suggestions once you start intraday trading. Remember, 99% of them are not legitimate.
They are governed by speculations and should not be trusted. Follow the tips of genuine stock trading companies. However, always listen to your ‘inner voice’.
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