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Day trading guide

Day traders seek to make profits by leveraging large amounts of capital to take advantage of small price movements in highly liquid stocks or indexes. A major and the most obvious channel of participating in the money making frenzy is stock market. Here we look at some common day trading guide that can be used by retail traders.
  1. Check buying volumes

    : Before buying check out the buying and selling quantity (volumes). If buying volume started increasing then the stock may go up and if selling volumes start increasing the stock price may come down.
  2. Check derivative status

    : If possible try to check out the derivative of the stock which you want to trade. If derivative of that particular stock is going up with increasing buying volumes then you can immediately grab (buy) that share/stock. Most of the time it is seen that if the derivative price goes up, then its share price also goes up.
  3. Wait for the target price to buy

    : For example, if buy is given at 150.5 then don't buy below this price, only buy at 150.5 price or slightly higher then price. Because the given buy price may be the resistance price, if it breaks then share price goes up or else may not go up above 150.5. So plan to buy at given targeted price, don't buy below target price.
  4. Strictly maintain stop loss

    : Strictly maintain the given stop losses. This will help you to minimize your further losses. Suppose for moment the share you bought falls drastically down, then you may end up with huge loss. So always maintain given stop loss.
    "Stop loss will reduce your loss".

  1. Down wait for huge profit in single share/trade

    : If you are getting some profit and if you notice that is not further moving up (its called consolidation) then you can sell your share/stock and come out of that trade. In this manner, you can earn small profit instead of loss then you can do another trade and again earn small profit. Likewise if you keep earning couple of small profits in a single day then all your small profits will add up to huge profit amount in a single day. "Get satisfied in small profit and do multiple trades".
  2. Don't overtrade

    : First and very important is not to Overtrade - Never put all your money/savings in share market. Most of the brokers provide margin amount but it is up to you how to make use of this margin amount. Most of the traders make use of this margin amount for over trading which is risky
  3. Wait, watch and trade

    : Do not jump in market early. Wait, watch and trade. Confirm the market direction and make sure and confirm all your strategies like resistance and support levels and then plan to trade.
  4. Study tips carefully

    : Do not react to tips given by anyone - First observe that stock, check the volume, where they are increasing or decreasing and then decide your trade. Do not buy or sell blindly based on share tips. Most of the share tips do not work if market direction changes.
  5. Always go with market trend

    : Don't short sell, if the market is going up and don't buy if the market is falling down. Trade with market direction and don't go against market direction.
  1. Try to minimize your loss and increase profit

    : Get ready to accept loss if you do wrong trade - Come out of your trade if you have entered in wrong time by accepting loss instead of waiting for trade to reverse and finally running into huge loss.
  2. Don't panic

    : Don't make early trades and even don't square off your trade early - Even if you see the scrip has moved up drastically, don't buy, confirm the volumes of buying and selling and then decide your trade. Don't square off /exit from your trade early if you see scrip/share has come down bit from top. If it is coming down from top means it is cooling, if you see more buyer than seller then you can hold your position. You must know which share has what momentum, means if the share price is Rs.120 then you can expect upside from Rs.1 to 5 and not Rs.50 to 100. If the scrip is going up, it will go in ladder fashion, it will go up and it will come down bit and it will again continue its upward journey.
  3. Wait for opportunity

    : If you are not sure about market movement then watch and wait for opportunity don't trade forcefully. Some times market move in range bound means market move up-down in very small range at that time it becomes very difficult to judge the market direction and do intraday trading. It's always better to wait instead of losing money.
  4. Don't expect too much

    : Don't expect too much - Be happy in whatever profit you get, don't try to grab too much from market. Be realistic, and don't expect too much. Please remember you are doing day trading and you should square off your positions with appropriate profit instead of waiting for big profit.
  5. Advice for high returns

    : Lack of Knowledge is very risky and very dangerous, so don't do trading or investing without having proper knowledge. Read books refer websites and get prepared before you plan for share market trading or investing.

Stock market for beginners

Elliott wave

  1. 2652
    The best way to day-trade is the 2652 theory of day trading.
    1. 2652 theory of trading
    2. High low trading
  2. Buy the company
    Stock market can be irrational in short term. Good companies can make temporary losses. But an investor should not get diverted by this.
  3. Contrarian investing
  4. Outperform the market
  5. Day trading guide
  6. Head and shoulders pattern
  7. News trade
  8. Rebate trade
    This is an equity trading style that uses ECN rebates as primary source of profit and revenue.
  9. Scalping trade
  10. Trade systems
  1. Elliott Wave principle
  2. Characteristics of Elliott Wave
    1. Characteristics of Impulse Waves
    2. Characteristics of Corrective Waves
  3. Elliott wave trader
    A few tips that can make the whole process of Elliott Wave trading a lot easier for you.
  4. Impulse Patterns
    1. Impulse Patterns in depth
    2. Profit Taking at the end of Impulse
      After every big rally there is profit booking, the profit money is re-invested into the portfolio, and then the market again starts to climb.
  5. Corrective Pattern
    1. Simple Correction
    2. Complex Correction
      Each segment composed of smaller waves.
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