Day Trading Practice
Don't do day trading unless you do paper trading practice precisely if you are new comer.
Avoid Over trading
Be Practical
Don't guess the market and stock direction but rather be practical and analyze the situation and then trade.
Don't assume anything because market can move in any direction and at any time.
Everyday is not Trading Day
Every day is not trading day so if you don't understand or not able to analyze the market or stock direction for any day then close the trading session for a day or for some time.How to avoid losses in day trading?Welcome to Indian Share MarketYour Desire to Earnin day trading it is not possible to get profit for every trade you do in a day.
You may have to even incur some losses. So the bottom line is how to reduce these losses.
Have a look on following few important precautions which will help to reduce losses in day trading.Take Small Profits and Do Multiple Trades
Remember you are doing day trading so try to square off your trades with small profits and do multiple trades. Less then 0.5% profit for single trade is more then enough to end the day with thousands.
To read more about how to take small profits and do multiple trade please
go to Successful day trading - Multiple tradesAvoid Emotions in Day Trading
Have control on two greatest enemies of day trading. Fear and Greed.
Accept your mistakes
If you feel that your trade has went wrong then you should come out of the trade either by accepting small profit or even by accepting small loss.
It happens many times with most of the traders (even with experience one) that their trades goes wrong due to change in market direction immediately and giving no time for you to cancel your trade.
Don't depend on tips blindly
Do your own study.
FROM SAFALTA KI RAAH
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