Would You Suggest Intraday Trading For Beginner?

Yes, we should suggest intraday trading for beginner too, but they should follow the following things i.e advice, which would help them to succeed in day trading and earn a lot of money from the stock markets.

Learn first Earn Later

One thing is sure that there is an aura around the Nse stock market, and many traders have an assumption that they can earn a lot of money by doing intraday trading in stocks, futures or options and become millionaires in quick time than in any other business. Day trading means purchasing and selling security/stocks within a single trading day in NSE stock market.  To start with, traders who are new to stock trading need to learn first before they start doing actual intraday trading or day trading with their hard-earned money.  As an intraday trader, a trader should take three key important decisions when doing day trading viz when to buy, when to sell and when to sit tight. To achieve success in intraday trading the person should be aware of some simple practical and psychological intraday trading tips which one can get only with experience while doing actual intraday trading.  Day trading can only be done when a trader has knowledge of charts and indicators that are used for the same.

Understand the terms used in the Stock Market

 A Trader should learn the terms used in the stock market like Long Position, Short Position, Support Level, Stop loss, marking to market or mark to market (M2M), Bull Market, Bear Market, Market order and Limit orders, Trading Volume etc.  These technical terms are very important and every trader or investor should learn them.  Our Technical team has explained  Sixty important share market terms. Which if learnt will surely help them for their entire life in the stock market.

Tricks and strategies for day traders

Let us have a look at some tricks and strategies that can be helpful to intraday traders when trading in the Indian stock market.

• We recommend traders to pick two or three shares or stocks that are highly liquid, otherwise, they may not be able to square off the positions due to low trading volumes for the stock that he has taken positions for the day.
• As per the experts, intraday trading is not ideal for everyone as it needs the traders to have a practical approach. The Emotional factor plays a very important role in earning profits from intraday trading. If you are wondering how to make money with intraday trading in the shortest time possible, it is important to understand that there are no shortcuts and one can earn well with research and experience.
• Day trading does not help one get rich overnight. Many traders start intraday trading with the assumption that they can get good money by making profits with just a single trade. But this is practically not possible and is not real while you trade. If you wish to earn well with intraday, then traders need to study, prepared and dedicate themselves and learn with experience. Intraday traders need to put effort for months so that they can understand the markets to earn profits.
• On placing day trading orders, a day trader should decide on what will be your entry price, target price and also the stop loss for the trade. As a trader, you should not change your decision and stick to it unless some very bad or good news that could influence the market a lot.  Sometimes traders sell at a nominal rise and lose the opportunity to make very good gains in the same trade.
• Never try to recover your losses through overtrading. if a traders buy a particular stock and suppose his stop loss gets triggered, He should exit from the stock. But some traders have a tendency to buy more or even double their position in the stocks which is called averaging in the share market. This overtrading can ruin your capital, so we advise traders to stick to their target and stop loss that they have decided earlier when they took positions in that stock.
• Practice & More practice will make you a good intraday trader. We advise traders to do paper trading first; before that actually start trading with their hard-earned money to preserve their capital for the future.
• Nowadays a lot of traders tend to trade in nifty options/bank nifty options (https://www.a1intradaytips.in/option-strategy-in-nse-market.asp), as it requires low capital, but they can get them great returns. We advise traders to keep proper stop loss and targets before taking positions by buying call options or put options of nifty index or bank nifty index in the stock market.

Understanding that profits and losses are a part of intraday trading

Traders who study markets, and study charts using technical indicators can generate good profits every day doing intraday trading. Traders can start with reading markets and keep themselves updated with both domestic and international markets. They can also read about company updates, government updates and so on. These are those factors, which will affect the direction of stock markets and this is what the trader needs to concentrate.

Choose the best Broking for your Intraday Trades

Intraday trading involves a lot of trades, and that is done daily on market days.  A trader has to pay brokerage even though he makes big profits, losses or even small gains. The best broking platform should guarantee quick decision-making, the study of charts, putting of quick orders & also low brokerage charges. Before you finalize your broker, we recommend you to compare at least 3 to 4 brokers and then make your decision to open your Demat cum trading account with them.

Avoid trading against the Market

Sometimes it may happen that our predictions of market movement done by technical experts or professionals can also go wrong.  So it’s impossible to predict correct market movements for day trading beginners/ newbies, even if they are receiving guidance from experienced professionals and are using advanced tools or software for technical analysis. There are times when all technical factors indicate a bullish market, prompting one to expect stocks to rise. However, it could hit the resistance levels or some heavy selling by some mutual funds or the market prefers to disagree, and the stock price goes on a decline. This means the suggestive factors need not provide any windfall guarantees. If the market moves against your expectations, you must sell the stock as soon as it hits your stop-loss level to avoid huge losses.

If you are looking for the best intraday trading tips A1 Intraday Tips will help you to gain maximum profit with minimum risk by providing the free intraday tips. For Free Trial you can register here to avail our Free Intraday Tips for 2 days. You can also download A1 Intraday Tips mobile app here. For more information call us at 07506090788 / 07600797534.