Intra day trading avoiding losses

[leo73]

how could you lose all your money ?
I suggest you go only LONG for the time being,
when prices drop, wait for them to pick up.

The catch is chose your scrip carefully, those which has high trade volumes
and has a bit of volatility.

 

[abyscorporate]

Hi friend, will tell you some steps to make profits.

1. Change your broker - when i changed from reliance to angel i could save 60% of my trading cost.
2.Get a charting software.Typical broker softwares are not that great but use can use them.
3.Learn technical analysis - atleast moving averages MACD ,stochastics etc.

4. Observe the historical market movements with the help of the charts.Identify your way of trading from what you learnt.(Pride's intraday stategy is one best strategy you can follow.you get in traderji)

5.Have an outlook of international markets, ADRs,FIIS etc operations

6.Track important news like results, RBI decisions, Bailouts etc becoz those things override the technicals.

7.Remember technical analysis works only if "all other factors remain the same".

It will take some time to learn trading and you will lose some money also consider it as the fees you pay for learning each lesson.Start with small amount & small quantity.

happy trading

 

[vijay4u]

As you guys mentioned ICICIDirect is high in brokerage. I was using to buy the stocks on cash segment and started last week to do intraday.
which brokerage firm offer low brokerage. I know share khan is cheapest, would you recommend any other online broker?

 

[iyerboi]

hello, friends I am trading on icicidirect platform since march 11. Lost entire risk
capital. Will some one guide me as to - how to avoid losses in Intra day trading.

ICICI Direct is where i started too. Those buggers loot money like anything. Hell, i profited a 100 bucks on my trades, paid brokerage of ard 1300.

Now i've shifted to Zerodha. Use it for my options trades.

And, dont lose heart my friend. Maintain an error log. Learn from your mistakes. Analyse where you went wrong. Strictly stick to stop losses.


Cheers

 

[iyerboi]

Dear Swamy,

You must understand that every trade will not be successful.

Before you take a trading position you must always have a plan as to when to enter and when to exit and what is your target. Always try to keep a realistic target.

Once you are in a position please book out early instead of waiting for the whole day.

Please do trade with strict stoploss and once your position is to your favour please keep increasing your trail loss so that whatever profit you made is preserved if by any chance your favourable position becomes unfavourable.

Please pay and get the trading tips from a very professional broker so that you will get only serious calls.

Don't chase behind every call given, please try to judge and choose the best company out of the calls given.

Please also try to trade on high beta stocks, it will help you to benefit from the early momentum irrespective of the call given being long or short.

Please treat each call as a new call and never make the mistake of trying to recover the loss already realised/unrealised on a call and remaining waiting on a position.

Don't lose heart and always patience pays.

Good luck to you

:thumb:

It is very difficult but try to remove fear and emotions when

Hi stocktiger

Agree wholly with all your points except "Please pay and get the trading tips from a very professional broker so that you will get only serious calls."

Shouldn't we not be dabbling in something we dont know or cant ustd?

 

[NOMINDTR]

hello, friends I am trading on icicidirect platform since march 11. Lost entire risk
capital. Will some one guide me as to - how to avoid losses in Intra day trading.

It happens. It is not either ICICI or their higher brokerage.

Before learning how to trade, every one of us suffer loss. First check the great threads of this forum and make good friends.

Learn with little risk capital. 'Day trading is dangerous' is not something that can be considered a stand-alone advice.

Know yourself, know the markets, select your trading style.

What is very important you need to grasp is, what you have suffered is really and experience which can not be by passed.

Take care

 

[chetanbang]

Learn Brooks Price Action. you might not make money for the next 2 years but brooks price action will keep you out of many losing trades, so you will lose less. learn price action every day for 2 years, you will be profitable from the 3rd year. I am learning from the past one year, still not profitable but am confident of getting there soon.