Day Trading-Rules & Learning

Please vote as per your actual experience in “Stock Market”


  • Total voters
    195

whisky

Well-Known Member
#1
Hi Guys,

I am a day trader and creating this thread to share & keep track of my day trading rules & learning. Do share your day trading rules & learning to get the one best list for “Day Trading”. Also share your feedback on my list.

There is misconception to many people that “Day Trading” only results in losses & no one can earn from the market by day trading. People think only long term investments are safe, so I am also conducting in this thread a poll to know your experience & views about “Day Trading”, “Short Term Positional Trading”, “Long Term Investments”. So vote as per your actual experience.

:cheers:
My Trading Diary "Trading in Whisky's Style-It's an addiction"
 

whisky

Well-Known Member
#2
My Learning & Rules (I will keep adding/modifying it to have one final list)

R1- Book profit as price comes close to your target, don't wait for exact rate.
R2- Taking quick action is the key of success in day trading.
R3- Stop trading for the day, if already got good profit for the day, don't be over confident
R4- Don't trade in a particular scrip/index if you are not confident about the move. It's better not to trade rather than trading wrong.
R5- Don't trade if risk reward ratio is not favorable.
R6- Ready with your trading action plan in advance. Market timings are for action not for planning, one miss can be a big opportunity loss/trading loss.
R7- Move with the market & don’t expect the market to move with you.
R8- Fear & Greed, both are psychological weakness, play with it and don’t get played by it.

L1- Keep a stop loss or a close watch, if your trade move confirmed in negative direction, take exit immediately.
L2- Focus on trade, opportunity can come at any time, don't miss trading opportunity, even a small opportunity can pay you big.
L3- Don't regret if you miss the opportunity, wait for the right one to enter.
L4- Trade patiently, quality of trade matters not the frequency/numbers.
L5- Stop trading for the day,if your most of trades are resulting negative for you. Remember, everyday is not your day.
L6- Trade with your independent due diligence,learning & thoughts, don't get influenced.Trading on someone else tips is like crossing the road as a blind man.
L7- Believe in results, it is only the result that matters.
L8- Don’t target the Market as you are always on the target of Market, play defensive & play safe.
L9- The longer the duration your trade remains in negative direction, the higher is the risk in that trade. Good “Day Trades” turn into profits mostly in short duration.

:cheers:
 

narayan78

Well-Known Member
#4
My Learning & Rules (I will keep adding/modifying it to have one final list)

R1- Book profit as price comes close to your target, don't wait for exact rate.
R2- Taking quick action is the key of success in day trading.
R3- Stop trading for the day, if already got good profit for the day, don't be over confident
R4- Don't trade in a particular scrip/index if you are not confident about the move. It's better not to trade rather than trading wrong.
R5- Don't trade if risk reward ratio is not favorable.
R6- Ready with your trading action plan in advance. Market timings are for action not for planning, one miss can be a big opportunity loss/trading loss.
R7- Move with the market & don’t expect the market to move with you.
R8- Fear & Greed, both are psychological weakness, play with it and don’t get played by it.

L1- Keep a stop loss or a close watch, if your trade move confirmed in negative direction, take exit immediately.
L2- Focus on trade, opportunity can come at any time, don't miss trading opportunity, even a small opportunity can pay you big.
L3- Don't regret if you miss the opportunity, wait for the right one to enter.
L4- Trade patiently, quality of trade matters not the frequency/numbers.
L5- Stop trading for the day,if your most of trades are resulting negative for you. Remember, everyday is not your day.
L6- Trade with your independent due diligence,learning & thoughts, don't get influenced.Trading on someone else tips is like crossing the road as a blind man.
L7- Believe in results, it is only the result that matters.
L8- Don’t target the Market as you are always on the target of Market, play defensive & play safe.
L9- The longer the duration your trade remains in negative direction, the higher is the risk in that trade. Good “Day Trades” turn into profits mostly in short duration.

:cheers:
Whisky bhai,

Your rules are ----summa nachunu irukku :thumb:
(subscribed your thread)

with cheers :) ,
narayan.
 

narayan78

Well-Known Member
#5
kind of neutral stage, believe everybody can win if they learn and follow daytrading rules.

will vote the poll near future :) .

with cheers,
narayan.
 

Mr.G

Well-Known Member
#7
Yaar 30% tax kaun pay karega lekin?! Itni mehnat karne ke baad! Upar se CA ka audit aswell.
 

Tlahuicole

Well-Known Member
#8
My dear whisky,

I do day trading, strictly day trading and have been earning from this year, so no need to worry about results, first believe that day trading and earning is possible and start learning. Never stay near negative people and other people who say that day trading and earning is not possible. I would suggest you to go through "Trade your way to financial freedom by Van Tharp", it will kindle your spirits.

Always believe.
 
#9
My Learning & Rules (I will keep adding/modifying it to have one final list)

R1- Book profit as price comes close to your target, don't wait for exact rate.
R2- Taking quick action is the key of success in day trading.
R3- Stop trading for the day, if already got good profit for the day, don't be over confident
R4- Don't trade in a particular scrip/index if you are not confident about the move. It's better not to trade rather than trading wrong.
R5- Don't trade if risk reward ratio is not favorable.
R6- Ready with your trading action plan in advance. Market timings are for action not for planning, one miss can be a big opportunity loss/trading loss.
R7- Move with the market & don’t expect the market to move with you.
R8- Fear & Greed, both are psychological weakness, play with it and don’t get played by it.

L1- Keep a stop loss or a close watch, if your trade move confirmed in negative direction, take exit immediately.
L2- Focus on trade, opportunity can come at any time, don't miss trading opportunity, even a small opportunity can pay you big.
L3- Don't regret if you miss the opportunity, wait for the right one to enter.
L4- Trade patiently, quality of trade matters not the frequency/numbers.
L5- Stop trading for the day,if your most of trades are resulting negative for you. Remember, everyday is not your day.
L6- Trade with your independent due diligence,learning & thoughts, don't get influenced.Trading on someone else tips is like crossing the road as a blind man.
L7- Believe in results, it is only the result that matters.
L8- Don’t target the Market as you are always on the target of Market, play defensive & play safe.
L9- The longer the duration your trade remains in negative direction, the higher is the risk in that trade. Good “Day Trades” turn into profits mostly in short duration.

:cheers:

L-10........No whisky at trading hour.......:lol::rofl::lol::rofl:.....just kidding........happy weekend........:thumb:
 

whisky

Well-Known Member
#10
Thanks everyone for your response & comments.:thumb:

@Mr.G - Trading is also a business, Taxes & CA Audit fees are also there as in any other business.
Just because of Taxes & CA audit fees we stop doing all the businesses?


@rajgreenpeace, Sir thanks for your L10, i love healthy humor & comments. :thumb:
 

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