| Stock market day trading is like handling a sharp knife. | | | | 8. If you are recurring loss for more than three days |
| If we are not careful then the result will be panic. The | | | | then stop trading and analyze for failure and if needed |
| following are the tips for the beginners to day trade | | | | can attend a technical session. |
| successfully. These are from my own experiences | | | | 9. Never use margin fund from brokerage as they |
| and it is meant for learning purpose only. | | | | may ruin your capital in the long run. |
| 1. Never ever take a position. Profit or loss, try to book | | | | 10. Try to control your greed and fear and don't be |
| it on the same day. | | | | overconfident about the market and be humble before |
| 2. When you incur loss in your first trade then stop | | | | it. |
| trading for the rest of the day. | | | | 11. Remember patience is essential for success and |
| 3. Follow charts and Technical Analysis only and never, | | | | here your money is in stake and hence say no to |
| ever follow TV, Tips or Chat service. | | | | short cuts. |
| 4. Do not over trade and do not trade with borrowed | | | | 12. Do not trade against the trend and always keep it |
| money. | | | | in mind that trend is your friend. |
| 5. Stop loss is very important to protect your capital. | | | | 13. Aim for small profits and let it accumulate in to big |
| 6. Do not expect market to trade as per your wish | | | | profit over a period of time. |
| rather expect the unexpected from the market. | | | | 14. Try to cut your loss and let the capital grow. |
| 7. If any one single formula can bring out success, then | | | | 15. During Gap up or Gap down utilize the reversal |
| many of the traders would now be a millionaire. | | | | technique and earn money. |