Every beginner wishes to be a profitable successful trader, not want to be a. And they lose their capital before gathering any pure knowledge behind a successful profitable trade. If you want to learn the main secrets of making money through intraday trading, ask me, how to do that!
Here I discussed the topmost secrets of successful day trading which I learned after burned my capital so many times and go for advice from experienced persons.
Now I never take any single trade without following previously planed my intraday trading rules. Also, I follow these 5 trading secrets to maximize my profit and least the loss.
5 Trading Secrets of Day Traders
Do you know which stocks going you trade tomorrow? You don’t plan anything? Then you are a client who waiting for the calls every day and you couldn’t become a successful trader and make money on day trading.
1. They Analyse Market & Select The Stocks For The Next Day
After closing the market. they starting to plan for the next day.
- Analyze the market and select the most volatile stocks for tomorrow.
- Specify the Target and StopLoss for each stock.
- Calculate the perfect lot size or quantity for their capital.
2. They Don’t Fight With The Market
Losers always try to recover the loss on the same day if their StopLoss hit. They try to fight with the market movement and pray to god for their supporting market movement.
At the same point, an experienced genuine day trader stops trading for the day if his planed StopLoss was hit. They always trade only those calls which already planed previously. ( Check My Rules for Intraday Trading )
When their plans not working, they don’t fight with the market to recover the loss, they respect the market and stop trading for the day.
3. Neutral Mindset After Taking A Trade
They are not in fear to lose money and also not greedy about profit. After entering a trade they observe the market movement neutrally. When they feel any bad movement, they trail their StoLoss towards profit.
4. Specific Point Of View for Specific Stock
They previously decided which stock to buy and which stock to sell.
When they select a stock to buy and the stock going down, they never change the mindset. They think like this “If buying situation occurs, then buy, otherwise leave it.”
5. Perfect Lot Size
Lot size making our strategy weak. Big Lot size increases the fear of losing.
If your Lot size matches your StoLoss, you can wait with your trading strategy, otherwise, you take a wrong decision when the market starting to showing you loss.