Thursday, 30 November 2017

Secrets of Successful Intraday Trader

Are you the one, who has taken up trading as a means to make money in markets? If yes then you need to read this article as it embraces some of the best trading tips that every trader must know in order to be a successful intraday trader. You must remember that the principles of trading do not change, whether you trade in equity, commodity, currency, bonds or credits. 

There are many theories about the trading and trading strategies. You can follow those strategies if you want to be a successful trader. However, if you are lazy and do not want to read thick books of trading strategies, then you just need to read the following two principles of trading. Following principles are essential to be remembered while trading. However, if you fail to follow them then you will find that a greater percentage of your trades go wrong. Here are the basic principles of trading:

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1. Stick to your time horizon: This is first and foremost basic principle of trading, where you need to stick to your time horizon. You must define your time horizon. You need to ensure that you close out your positions by end of day if you are a day trader, as a loss-making position carried into the next trading day will go into more losses. You need not have to close out loss-making trades the next day if you have a longer time span. If you have analyzed the trade correctly and generated the accurate free intraday tips then it will come into the money during your defined time span.

2. Technical or fundamental: You must follow only one trading style. Suppose that you are using technical analysis then your positions will have to be based only on technical analysis. However, if you are following fundamentals, then your position will be based only on fundamental analysis. It is not possible to use half-baked technical analysis and half-baked fundamental analysis for trading as technicals and fundamentals do not go hand in hand. In technical analysis, analysts look backward, while in the fundamental analysis it looks forward.

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