Golden rules for intraday trading

Whenever you go in any field you have to follow some rules. Sometimes this rules are not compulsory but that rules make your work easier and good for your work.

We have 10 golden rules which is not mandatory in day trading but if you follow that rules this rules will make your journey little easier and reduce your risk.

Follow this rules this will help you to create good wealth.

* Trading only in best Day Trading stock

This is  a basic rules for intraday traders. Every stocks are not good for intraday trading.
For intraday it requires Liquidity, volatility, volume.

* Strict entry, exit and stoploss.

Before you trade, Find best entry point and exit point. And follow strict Stoploss.

* Trade with money which you ready to lose 

Day trading is most risky in share market. That's why this rule is very important.  Your money can be vanished even in a minute if you trade  Wrong.

* take positions with limit order

Some time You can't get perfact entry point with market order. That's why use limit order instead of Market order.

* research and analysis 

Research and analysis is key to success in stock market. You can beat some speculators with your search.

* Trade record 

Saving your trade record will help you to know that where you are good in trading.  This will help you to make strategies in future.

*Don't trade Daily

  You shouldn't do trading just because of sharemarket is open. Trade only when you have researched well & you are getting best entry points.

* don't Use your emotions 

Don't use your emotions during  Day trading. Someone has said "if sharemarket makes you feel high and low you are more likely to loose money in market".

* Trade in few stocks

Don't trade in every sector and every stocks. Trade only in those stocks where you are good. Use your saved trade record and find out where your success ration is good and try to trade in that known stocks.

* Use strict stop loss

Stock market is highly volatile in nature. So use stoploss very strictly. It will help you to reduce your risk of losing your capital.

This Rules are not mandatory, even you can trade without using any of this rules. But this rules will help you to achieve your Goal this are some golden rules for intraday  Trading.