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10 Day Trading Tips which will Make More Money for You in the Market

Posted By On 3/21/2010 11:48:00 PM Under

Day Traders must keep on going through the day trading tips being recommended as it helps one to get control of their loss making emotions. These tips are repetitive in nature but still it makes sense to reread them and make it as a second nature.Below are a few tips for day traders to consider

1) If your trading capacity is Rs.1,00,000 -Trade only for Rs.50,000- Do not trade for Rs.2,00,000.- do not over trade.

2) Trade in different sectors.

3) Do not be afraid to buy at high prices and sell at low prices. -Do not buy just because it is a low price & do not sell because it is high.

4) Buy when there is bad news and Sell when there is good news.

5) Become the buyer when everyone is a seller & Become the seller when everyone is a buyer.

6) NSE & BSE will never close, every morning at 9.55a.m. ( 5 days in a week) it will open. So do not try to be a millionaire in a day. It is next to impossible to earn money every day in stock market.

7) Do not average out in our share tips when market is not in favour. Limit your losses by keeping a stop loss order - Never cancel a stop loss order after you have placed it, otherwise you may loose more.

8) Do not hurry to book profit when market is in your favour - wait for the right time.

9) Remember that if you are caught in a SHORT SELL POSITION, high chances are that it will give back in less than a month. But if you are caught in a LONG POSITION it takes much more time to build (Sometimes we have to wait for 2- 3 years for our buying prices.)

10) If you consider 10 different reasons affecting the market (nse & bse)- on an average, 7 reasons are for bearish trend & only 3 reasons for bullish trend. Hence be cautious in taking a long position.

Hope the compilation will help the traders to be more cautious while trading and nothing is lost by reading these tips as one may find some thing of a great value which can become a hidden treasure. Thus keep on exploring and you are bound to become a better trader.

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