Day trading is the trading in which one Buys and Sells the shares on the same day. In day trading there is no guarantee that you will always have a winning trade but Just by following some rules and instructions you can generate a better profit that you could never get before.
Day trading requires discipline, determination and patience to sit at a place and wait for the right time.
Before you enter into stock market, follow the following instructions:
1. Get brief knowledge of stock market :
Before entering into the battle, take a brief knowledge of stock market. You should have the knowledge about types of exchange, share, market types, depository system types of depositories, how the transaction takes place and types of trading etc.
2. Make a plan to trade:
Always make a plan before trading. Planning includes time and money management. Get all the details in advance. Do not let the emotions get over you because in stock market you play with mind not with heart.
First make small targets and achieve them. Do not let the small losses to convert into big ones.
3. Paper trading :
If you are a beginner then start with Paper Trading. Paper trading means you virtually Trade on paper which does not involve money. It helps you to understand the market and you can have a good experience of trading without having fear of loss.
4. Smart with a small amount:
Do not pour huge amount of money at the start. Start with a small amount and look for the trends. Being a fresher in the stock world it would be better for you to start with small investment. After gaining a good knowledge of market you can increase the amount of money.
5. Always consult an experienced/good stock adviser :
It's better to take advice from an experienced stock adviser rather than to use your own Brain because if you are not experienced and are very confused then you will have to face nothing but loss. There are many stock advisory companies which provide stock tips, cash market tips F&O tips, Nifty tips, commodity tips etc through SMS or by some other means. CapitalVia is one of the leading stock advisory company of India which provide all these services with an unmatched accuracy of more than 90%. They have a nice blend of researchers of Cash, commodity and derivative markets who analyze the market trend and give the best calls
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