Money classic investment advisers propose some of the Intraday tips for tomorrow trading session, kindly go through these techniques based on the volatile indicators provided by our expertise professionals:-
Fix your Gains and Losses:
Greed and fear play a crucial role in Intraday Trading. It can erase your 100% paper profit, and you may end in a loss. A paper profit is an unrealized profit from the trade. An Intraday trader should know the entry and exit point. For this, it is imp to fix your gain and loss from a particular trade. Expert traders keep a stoploss at 1/3rd of the expected benefits. It is done so that overall trade for the day should be profitable.
Here, There is overwhelming and unanimous opinion that Intraday Trading should not be initiated without a stop loss. Though stop loss is 1/3rd of expected gains, if it is near any pivot point or resistance/support levels then it may result in more losses. The volatility is high near the pivot point, resistance and support levels.
Not more than 2-3 trades per day:
Initiating multiple trades during a trading session is suicidal. Even seasoned traders don’t initiate more than 2-3 trades per day. Reason being, Stocks for Intraday Trading are highly volatile, and the trader is on toes till the position is squared off. Humanly also it is impossible to trade more than 2-3 stocks with 100% concentration level. Therefore, to start with,
Avoid Intraday Trading in News/Results driven Stocks:
The reaction of the news or result is unpredictable on the stock price. The stock price goes all over, and traders are not able to identify the trend. Recently, it was observed that reactions were totally opposite than expected. It is tempting to enter into such stocks for quick gains. Always remember Golden Rule No 1 on this post. Only enter into a stock with a strong trend. When you are not sure of the trend, please avoid such stocks.
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