Day-Trading, the Exciting World of Stock Trading.

Is intraday trading profitable?

For such a difficult question, we often expect a Yes or a No response. In my opinion, like every other skill, even Day trading requires you to put in time and efforts to understand the game.

You can definitely make money in dry trading if you put in one hour a day for at least six months to one year and follow these rules religiously.

The Top 10 Rules of the Game.

1. Don't run behind every stock which is moving.

2. Make a list of 5–10 stocks and track only those stocks. (After some time you will become pro in trading these stocks)

3. Telegram group, YouTube channels, WhatsApp groups can add value, but don't become dependent on them totally.

4. Start with small amount and keep on building it gradually. Keep saying yourself, I am not greedy.

5. Risk management is the only way by which you will sustain for a longer time in the market. As soon as a trade is executed, you need to put a stop loss. Remember one thing, the probability of hitting the bull’s eye is higher when you have 20 bullets, not when you have a single bullet.

6. When your friends or colleagues earn more money than you in day trading, don't get depressed or even exited and follow whatever they are doing. (Everyone shows off their profits, not their losses because they are huge.)

7. You will always be pulled towards trading in options, don't get into options trading until the time you understand everything about options trading and are disciplined enough to keep stop loss on every trade. (options trading has the capability to wipe off your entire capital within few days)

8. Journal all your trades or make an Excel sheet and record all your trades. Reflect on those trades on weekends and make a note of what went wrong and try and not repeat those mistakes in future.

9. Always keep on reading books on technical analysis and fundament analysis. Reading books will keep on giving you new insights (Knowledge is Power),

10. Trade only with a trading plane in place.

I am pretty sure you can be a highly profitable Intraday/Day trader if you follow the above rules religiously.

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