Important note - Please make use of following two strategies in paper trading and once you feel confident generating profits then start with actual day trading.
Paper trading is very important to realize your strengths of doing day trading
If you want to be successful day trader or short term trader then please remember following two important strategies.
I. Analyze, Wait, Watch and then Trade
II. Small profit and multiple trades
Important strategies for successful day trading
Analyze, Wait, Watch and then Trade.
Take small profits and do multiple trades
Analyze, Wait, Watch and then Trade
This sentence looks time consuming like analyze, wait, watch and then trade when to do all this and they to get profit?
Answer is - For newcomers it may take an hour and for experienced trades it may takes seconds or minutes.
- First analyze the market and then particular share - It is very important to know how the entire market is going to be today before start trading.
- Check out whether the market is going to be Bullish, Bearish or going to trade in very narrow range.
- Check out how American markets have closed at yesterday night, how Asian markets are trading in the morning (they open before Indian markets)
- We daily update all these status including market outlook till 9:00 am at
Traders - Stock to Watch Today
Once you get the knowledge how the market is going to move (it is totally acceptable that it is not possible to judge it 100%
accurate but you should have at least 50 to 70% knowledge) then act accordingly.
Always trade in the market direction.
In bullish trend - buy and then sell bullish shares
In bearish trend - Short sell and then buy bearish shares
In very narrow range trading - Wait for right opportunity and then enter into trade. “Every day is not trading day”.
It is important to know the status of American markets because mostly it has been observed that based on American markets Asian markets open in the morning at 8.30 am and finally Indian markets open at 9:00 am.
Mostly (80 to 90%) it has been observed that Indian markets follow global markets.
American indices are NASDAQ and DOW.
Important Asian markets are Nikkei, HangSeng, Taiwan etc
At afternoon 1.30 pm European markets open and mostly it has been observed that our Indian markets reacts to European markets.
For example - If European markets open in negative then there are chances that our Indian market may also move some downside (if already Red then further downtrend will continue and if in Green then may some pressure on upper side)
If European markets open in Green then it is expected that Indian markets will recover (if in Red) and if already in green then continue their upward journey.
- It is always profitable to act in accordance with the market direction and not against market direction.
- If market is in green and continue its upward journey then you should plan to buy and then sell.
- If market is in Red continue its downward then you should plan to short sell and then buy.
- This will increase the chances of more success and more profitable because most of the time it has been observed that shares also move in accordance with the market so it becomes easy to go with the flow and not against the flow (market).
- Because everybody is buying and if you do short sell then definitely your trade will end up in loss and if market is falling and if you buy then also your trade will end up in loss.
- Never trade against market direction.
- Once you analyze the market now its turn to analyze the specific share.
Analyze specific share
- Once you get the at least some knowledge of market direction/status then you can act on choosing the shares which are moving in accordance with the market especially nifty, Jr nifty, sensex other indices related shares.
Note - You can choose any share but it’s our experience to choose indices related shares to have more liquidity and easy to enter and exit from the trade.
For example - if you come to know that market is going to be bullish and going to remain in green at least for some more time then you can choose bullish shares for trading and if you come to know that market is going to be bearish and going to remain in red then you can choose bearish shares.
- Once you get the shares according to market direction than you can start analyzing whether they are moving according to market or not.
- It is possible that some shares may not move or may not react immediately and some may move or react quickly so you should analyze all these parameters and select shares for your trading.
- Once you analyze the shares and decide your shares for trading then Wait and Watch.
- Initially this all process seems to be time consuming but as you proceed ahead and start gaining experience this process becomes very easy and fast.
Wait and Watch
- Wait and watch are two very important parameters which will decide to give you a big profit or small profit or big loss or small loss, so follow it very seriously.
- Once you analyze the specific share and market movements keep continuous watch on direction on both of them.
- You should always keep continuous watch on market because if market changes the direction then your shares are also going to change the direction.
- (Here your paper trading experience will comes into picture, so still if you not feeling confident you can stop actual trading and do paper trading practice) for paper trading information please go at
Paper trading Practice for successful day trading
- “We always recommend entering late in trade and taking small profit instead entering early and making losses”.
- Wait and keep watching until you get any signal either buy or short sell.
- Don’t hurry to enter into trade because market is open for 5 hours and your first trade is important to make up your mood so if you do profit in first trade then definitely this will boost your confidence going forward.
Suppose if you are not able to trade on any particular day then you should not worry just leave that day and try tomorrow, market will never stop it opens daily and closes daily.
- Write down your experience.
- Only trade when you are sure about the market and share direction or else leave the trading for that day.
- “Please remember money saved is money earned.”
Now the final step is to act and trade
Till now you would have followed the rule Analyze, Wait and Watch. If you are still not confident or feeling nervous and fearful then stop trading immediately and go again for paper trading practice and keep doing practice until you feel confident and earn profits and then come for actual trading.
For paper trading Paper trading Practice for successful day trading
We are always keep reminding you to do paper trading practice because your money is hard earned and we don’t want you to loose it unnecessary. You came to our website to earn money and believe us that we are the happiest people to see your success.
Important point to note
Trading of shares is not important as it is only the buying and selling of shares and this can be done by anybody if you tell him the share name, buying price and selling price even a small boy who can read the English words can do trading.
The important steps towards successful trading are analyzing the market and share, doing proper interpretation, taking appropriate decision and then finally trade.
Final step is trading
- Act in accordance with market; never ever go against market direction.
- Buy call - If you analyzed that Market is bullish or is expected to trade in green then you can trade on bullish shares by buying the shares and then selling them.
- Don’t short sell and keep waiting when the market or the share price will come down and you will square off your trade.
- Short Sell call - If you analyzed that market is expected to be bearish and will remain same for some more time then you can plan on short sell call (first sell and then buy the share when its price comes down) and then buy the share. Don’t do reverse (like first buy and wait for market or stock to come up) in bearish market.
- Now we will see the actual ways of doing trades like how to put your buy order, sell order, stop loss trigger orders and finally how to book profit.
Please move to next session which is Successful strategies
Do you need more information about day trading - Following key words can be used
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