Intraday trading could be an easy way to earn money. It would be the golden opportunity to earn more profits. If you correctly analyze the stock markets and do the trading with discipline, you can earn profit on a daily basis.
If you play your cards well, it will definitely reward you. In many of the metro cities, the people are investing their money in stock market and they are making good profits out of this type of trading. In order to be successful Intraday trader, leave your emotions back. Emotions like fear, hope, doubt doesn’t have any place in day trading. You have to come up with the strong trading plan in order to make money in day trading.
Even after having a good plan, if you are not bound by time frame, you are destined to fail in Intraday trading. Intraday traders have to take the decisions quickly.
You can succeed in day trading, if you have very good analysis skills. You have to watch the chart figures and you have to understand the trends. This would help you to make reasonably quick decisions at a very short time. Always try to explore different concepts of stock market.
In order to cut the losses in Intraday trading, put the stop loss. If you put the stop loss, you can automatically close out loosing portions. Be patient while trading. Don’t get carried away with your wins and don’t get stressed by your losses.
Undertake the stock market research before you set out for trading. In order to predict the profitable stock pick, you have to undertake the stock market research.
Intraday trading is a different game with different rules.
Advantages of Intraday trading:
1. In Intraday trading, you can actually buy stocks without paying its full price. You can pay only a part amount. Therefore, you can earn more by investing less.
2. In Intraday trading, the brokerage will be lower when compared to the delivery trading.
3. Even if the stock price is falling, you can earn profit in day trading. All you have to do is to sell the stock at higher price (no need to buy it before, you can directly sell them) and buy the stock at lower price.
4. In Intraday trading, you will not be having the tension of overnight risk as you will not be holding the stocks.
Disadvantages of Intraday trading:
1. The risk of loosing money is higher in this method of trading, when compared to other methods.
2. If you do wrong analysis in Intraday trading, you will be booking losses.
3. Another big disadvantage of intraday tradingis that, it is bound within the time frame. You have to sell the stocks on a sameday, so you will be loosing the money if the stock looses its price.
If you are not sure about the Share market behavior, but still if you are interested in intraday trading , then look out for the stock advisory company who would give you better return on investment. Then you can see how the stock market will reward you.