making profit in intraday trading tips daily earn profit free stock recommendations

Important points to keep in mind - Read this before starting your trading
1. Remember that you are doing intraday trading, so be ready to have to
    book small profit and not wait for huge profit.

2. Do multiple trading with less profit, which makes you to end up with
    good profit at the end of trading hours.

3. Before starting your day trading find out the nifty/sensex direction,
    means whether they are going to be in positive direction or negative
    direction.

4. Mostly direction of Indian market is depended on US indices and
    other Asian indices. So before opening our market you will come to
    know status of all other markets and based on this you conclude
    Indian market direction.

5. Trade in direction with nifty/sensex. If indices are going positive then
    buy and sell and if indices are going down then do short sell and then
    buy.

6. Don’t make your mind that you have to do daily intraday trading. If
    you are not able to understand the market direction then just don’t do
    intraday trading. Just leave for that day.

7. In morning market time (before 10.20 a.m.) and during market closing
    time (after 3.10 p.m.) it has been noticed that order at NSE get
    delayed, so its always better to trade at BSE during such times.

8. When you buy a stock the selling price should be calculated
    (brokerages) and put the sell order immediately don’t wait for the
    price to go up and then you decide to put the sell order.
    You should be able to calculate your brokerage plus taxes for both
    buying and selling, plus your profit (remember in intraday trading you
    are looking for small profits and multiple trades).

9. If possible try to buy shares below open price, or at open price. Don’t
    buy shares if price is gone very high then open price, wait for the price
    to come down near open price and then buy that stock. Study where
    market is going and based on the trend decide your trade.

10. Before buying check out the buying and selling quantity (volumes). If buying volume started increasing then the stock may
      go up and if selling volumes start increasing the stock price may come down.

11. If possible try to check out the derivative of the stock which you want to trade. If derivative of that particular stock is going
      up with increasing buying volumes then you can immediately grab (buy) that share/stock. Most of the time it is seen that if
      the derivative price goes up, then its share price also goes up.

12. For example, if buy is given at 150.5 then don’t buy below this price, only buy at 150.5 price or slightly higher then price.
      Because the given buy price may be the resistance price, if it breaks then share price goes up or else may not go up
      above 50.5. So plan to buy at given targeted price, don’t buy below target price.

13. Strictly maintain Stop Loss - Strictly maintain the given stop losses. This will help you to minimize your further losses.
      Suppose for moment the share you bought falls drastically down, then you may end up with huge loss. So always
      maintain given stop loss.
      “Stop Loss will reduce your loss”.

14. Down wait for huge profit in single share/trade - If you are getting some profit and if you notice that is not further moving
      up (it’s called consolidation) then you can sell your share/stock and come out of that trade.
      In this manner, you can earn small profit instead of loss then you can do another trade and again earn small profit.
      Likewise if you keep earning couple of small profits in a single day then all your small profits will add up to huge profit
      amount in a single day.
      “Get satisfied in small profit and do multiple trades”.

15. Very Important - Never overtrade - Don’t try to trade with all your money in single day in single stock.

16. Do not jump in market early - Make sure all strategies before jumping in a market trade.

17. Do not react to tips given by anybody - First observe that share, check the volume, where they are increasing or
      decreasing and then decide your trade. Do not buy or sell the share blindly on the tips.

18. Remember - Don’t short sell if the market is going up and don’t buy if the market is falling down.

19. Accept your wrong trade - Come out of your trade if you have entered in wrong time by accepting loss, instead of waiting
     and running into huge loss later. Ready to accept loss, if you are wrong.

20. Always follow this - Don’t make early trades and also don’t square off early - If you see some scrip has moved ‘up’
      drastically, don’t buy, confirm the volumes of buying and selling and then decide your trade. Don’t square off /exit from
      your trade early if you see scrip/share has come down bit from top. If it is coming down from top means it is cooling, if
      you see more buyer than seller then you should hold your position. You must know which share has what momentum,
      means if the share price is Rs.120 then you can expect upside from Rs.1 to 5 and not Rs.50 to 100.
     If the scrip is going up, it will go 1 odder fashion, it will go up and it will come down bit and it will again continue its upward
     journey.

21. Wait and watch - If you are not sure about market movement then watch and wait for opportunity, don’t trade forcefully.
     Some times market move in range bound means market move up-down in very small range at that time it becomes very
     difficult to do day trading. The just avoid it for that day.

22. Don’t expect too much - Be happy in whatever profit you get, don’t try to grab too much in single day. Be realistic, and
      don’t expect too much.

23. Lack of Knowledge is very risky and very dangerous, so don’t do trading without having proper knowledge of the market
      direction.

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