hi,
anyone earning in daytrading in this stock market...??? i have biggest doubt in this..!!!! 
losing losing losing... but still hope , i will earn in coming days.. all traders are like this!!!
IN DAYTRADING, SAVING CAPITAL IS BIG ACHIEVEMENT.. APART FROM THAT CAN WE EARN PROFIT!!!????
I AM WAITING FOR YOUR VALUABLE REPLIES...!!!!
Thanks
It is possible to trade intraday and make money. The advantage of intraday trade I would say removes the overnight risk of holding bigger positions as one can't be certain in which direction the market will move in the current environment. Depending on the factors beyond one's control, positional (larger) SL's can get triggered only for the market to revert back in the direction of your position.
So unless the market is stronlgy trending, day trades are better bet, though brokers do make a regular income.
What I have learn from intraday trades :
Be disciplined, and take trades only as per well defined (written) rules and setups.
Don't try to change or implement many different strategies. Stick with two or three trading setups.
Trade light in the morning. Trades after 12.30 European opening till end of day are better bet.
Trade in direction of the Nifty. If Nifty is 30 points or more up or down, its o.k to trade two or more positions.
Take position in strongly trending stocks. Close before end of day or next day within 15 minutes of open. (If stock opens or goes negative, sell immediately)
Keep a safe stop loss which you are comfortable with.
If the stock is trending strongly, be paitient and wait for a dip to enter (Sharekhan terminal has an alert facility when the stock level is hit). This will reduce SL's and also provide a much better R/R ratio.
Keep a record of each trade and review entry, exit level, and if the trade was as per rules.
Maintain, review and update trading rule book on a daily basis.
P.S : I recently opened an account with a discount brokerage and took more trades with a view to scalp which was is not my main strategy, obviously these did'nt work in my favor. The lesson for me is to try not to try too many things but to stick to what works and do more of it.
