Intraday Trading Rules by Market Control: Every trader is money lover and look for best day trading rules to gain profits. So here are the different rules for intraday traders.
These Day Trading Rules are not mandatory in nature but they are really important for Intraday or margin trading. These can help to gain maximum profits with minimum risk.
Read Following 10 Golden Intraday Trading Rules for Day Traders
Trade only In best Day Trading Stock
This is the most critical and basic trading rules for intraday traders. Every stock doesn’t fit the purpose for day trading.
Best trading stock includes
Sector Specific Stocks
Stock with good correlation with overall market
Right Entry, Exit and Stop Price
The first and foremost important trade require to set an enter price, exit price as well as escape price.
Trade with money which you are ready to lose
Day trading is the highly risky option in stock markets. You can lose money within few minutes of wrong trade. You can even loose more money depending upon about how much you have leveraged your position.
Market position with Limit orders Instead of Market Orders
The most desirable and basic day trading rules for first time traders or beginners. A market order is a default trading option that involves buying and selling of equity immediately at current price.
Perform Research and Analysis
Research and analysis is the key to get success in stock markets. You can beat the traders if you are well informed about the given script.
Keep all the records of Trades
You should keep all the records of the trade performance report. This will help in measuring the effectiveness of your trading strategies.
Don’t do trading Daily
You don’t have to trade everyday just because markets are opened. You can only make your position when you like to do.
Keep Emotions aside
Emotional stability is important to outperform during day trading.
Trade only in Few Scripts at a time
The most common basic trading rules for traders is to reduce the risk of your stock investment.
Use Strict Stop loss order
Stock market are highly volatile in nature. So, use right stop loss order and cut your losses.