Day Trading Rules that Makes Successful Tradera
Day Trading Rules that Makes Successful Trader a
- Focus on Capital Preservation & Risk Management
- Rules – #2. Prepare for The Trading Day
- Rule – #3. Limit Losses – set a stop order
- Rules – #4. Lock in your profits
- Rules – #5. Understand how to use Margin correctly
- Rule – #6. Do NOT over Trade
- Rules – #7. Always Trade Within Your Own Trading Style & Strategy
- Rules – #8. Don’t Be Emotional
- Plan your trades. Trade your plan.
2. Keep records of your trading results.
3. Keep a positive attitude, no matter how much you lose.
4. Don’t take the market home.
5. Continually set higher trading goals.
6. Successful traders buy into bad news and sell into good news.
7. Successful traders are not afraid to buy high and sell low.
8. Successful traders have a well-scheduled planned time for studying the markets.
9. Successful traders isolate themselves from the opinions of others.
10. Continually strive for patience, perseverance, determination, and rational action.
11. Limit your losses – use stops!
12. Never cancel a stop loss order after you have placed it!
13. Place the stop at the time you make your trade.
14. Never get into the market because you are anxious because of waiting.
15. Avoid getting in or out of the market too often.
16. Losses make the trader studious – not profits. Take advantage of every loss to improve your knowledge of market action.
17. The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
18. Always discipline yourself by following a pre-determined set of rules.
19. Remember that a bear market will give back in one month what a bull market has taken three months to build.
20. Don’t ever allow a big winning trade to turn into a loser. Stop yourself out if the market moves against you 20% from your peak profit point.
21. You must have a program, you must know your program, and you must follow your program.
22. Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
23. Split your profits right down the middle and never risk more than 50% of them again in the market.
24. The key to successful trading is knowing yourself and your stress point.
25. The difference between winners and losers isn’t so much native ability as it is discipline exercised in avoiding mistakes.
- In trading as in fencing there are the quick and the dead.
27. Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
28. Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
29. Accept failure as a step towards victory.
30. Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don’t let ego and greed inhibit clear thinking and hard work.
31. One cannot do anything about yesterday. When one door closes, another door opens. The greater opportunity always lies through the open door.
32. The deepest secret for the trader is to subordinate his will to the will of the market. The market is truth as it reflects all forces that bear upon it. As long as he recognizes this he is safe. When he ignores this, he is lost and doomed.
33. It’s much easier to put on a trade than to take it off.
34. If a market doesn’t do what you think it should do, get out.
35. Beware of large positions that can control your emotions. Don’t be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
36. Never add to a losing position.
37. Beware of trying to pick tops or bottoms.
38. You must believe in yourself and your judgement if you expect to make a living at this game.
39. In a narrow market there is no sense in trying to anticipate what the next big movement is going to be – up or down.
40. A loss never bothers me after I take it. I forget it overnight. But being wrong and not taking the loss – that is what does the damage to the pocket book and to the soul.
41. Never volunteer advice and never brag of your winnings.
42. Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
43. Standing aside is a position.
44. It is better to be more interested in the market’s reaction to new information than in the piece of news itself.
45. If you don’t know who you are, the markets are an expensive place to find out.
46. In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word – Nobody! Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.
47. Except in unusual circumstances, get in the habit of taking your profit too soon. Don’t torment yourself if a trade continues winning without you. Chances are it won’t continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
48. When the ship starts to sink, don’t pray – jump!
49. Lose your opinion – not your money.
50. Assimilate into your very bones a set of trading rules that works for you.
Golden Rules and Regulations for Intraday Trading
June 27, 2017
Are you day Trader? Looking for some Intraday Trading Rules ? Here are some simple, easy and golden rules for Intraday trading to earn handsome profit doing day trade. Follow the rules by NTA and never forget to follow. (Day Trading Rules that Makes Successful Tradera)
1️⃣ Invest in what you can afford to lose
Day Trading carry more risk investing in stocks. Always invest the amount that you can afford to lose. Eg: In the year 2009 satyam computer scrip fell more than 80% from Rs 188 to Rs 31 in one day. A unexpected movement in the market could lose more than you invested in Stock Market. Its very Important intraday trading rules.
2️⃣ Select highly liquid Shares
Day traders must square off their positions at the end of the session. This is easy when you are trade in large cap, index- based stocks which are highly liquid and get traded in large volumes every day.
3️⃣ Trade in only 3-4 scrips at time(Day Trading Rules that Makes Successful Tradera)
It is advisable to diversify the portfolio while investing in stocks when it comes to trade. Limit yourself to just 1-2 stocks. Also track the stock movements closely.
4️⃣ Do extensive Research
There should be 10-15 stocks on your trade watch list. You should be aware of all the forthcoming news like stock splits, bonuses, dividends, result dates, mergers as well as technical levels of the stock.
5️⃣ Know the entry price and target levels
Before you enter the market always set your entry price and level. The psychology changes after he bought a stock where you could interfere with judgment and sell quickly even if the price moves marginally.
6️⃣ Use stop loss to minimize loss
A stop loss is triggered for selling shares if the price moves beyond specified limit. It helps the buyer to limit the losses.
7️⃣ Don’t be an Investor (Day Trading Rules that Makes Successful Tradera)
Both of them buy shares considering the Profit.
8️⃣ Book Profits when target are achieved (Day Trading Rules that Makes Successful Tradera)
Greed and Fear creates hurdles for the traders. Trader should book profit when the shares reach his target. If trader feels that there is more upside to the stock he should reset the stop loss.
9️⃣ Don’t Fight with Market Trend
Even the expert analysis cannot predict the way in which market will move. By using the technical factors trader will point out the likely movement of the market they don’t guarantee it.
⇒ Know 7 Day Trade Secret (Day Trading Rules that Makes Successful Tradera)
You should not be emotionally suffering for the rest of the day after losing any of the trades. You should not predict the future price movements under any circumstances.
- Don’t be afraid to put Trade
Lack of Confidence or fear in the trade decision will lead it difficult to enter into trade. Too much fear will make you take losses before the actual stop loss hit.
Confidence will help in taking good decision .
- Use only risk capital for trade (Day Trading Rules that Makes Successful Tradera)
Always trade with money you have other then another income in order to make neutral decision.
Always be patient with your trade experience. Take your own time to trade on paper for while. Also wait for the opportunities to trade with.
- Learn how to manage money
A good trader will never risk more than 2% of the trade capital on single trade.
- Always Trade with Confidence
You should trade with confidence because it is the most important secret to successful day trader.
Always try to implement few strategies instead of many at once. Try to find out the strategy you are comfortable with and master it.
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