The most important concept to be learnt in order to be a successful trader is to act in your own best interest. If you succeed to master this skill, you can gain success in Intraday trading business. But without this skill, you are destined to fail. It is as simple as that. If you want to make a lot of money in Intraday trading, then learn to act in your own best interest. If you fail to do so, you will lose a lot of money in trading.
The markets work in a very unique way than almost everything else in life. You can enjoy more freedom in this business than probably in any other business in the world. You can do whatever you want in the stock market. What holds you back is the possibility of running out of money. You can be in the trading game, only when you have trading capital.
Intraday trading is totally different from everything else we do in life. In day to day business you will be in control of the actions that affect your environment. For example, if you wanted to watch some tv, you would have to turn on the tv. If you are not interested in watching, then you will not turn on the t. v.
Another example would be, if you wanted to start your bike, you would put the key in the ignition and turn it, and the bike will start. Everyday we all do the things consciously to affect the changes on the environment.
But when it comes to trading, you cant control what the stock market will do. You might be wishing the market to go in the certain direction, but you can do nothing to make it go in your direction. You cant cause any affect on the stock market to make it do what you want it to do. You can neither push a button, nor turn a key to affect the changes in stock market.
So, now the question is, if we cant control the stock market, then what we have to do to become a successful trader. The answer is simple. All we have to do is to control ourselves. I know that this is easier said than done. But this is the truth.
You must be able to act in your own best interest. This is much more important than finding the perfect technical method. A person with the poor self discipline but the best trading method will always be outperformed by a person with good self discipline but a poor trading method. This is how it works all the time.
Another way to act in your best interest is to take the help of the trusted stock advisory company which provides Intraday tips . In this way you can earn consistent profits from Intraday trading even in the volatile stock market .