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Advise/Suggestions to IntraDay Traders.

Invest what you can afford to lose Intra-day trading carries more risk than investing in stocks. Invest only the amount that you can afford to lose. An unexpected movement can wipe out your entire investment in a few minutes. In January 2009, the Satyam Computer scrip fell more than 80% from Rs 188 to Rs 31 in one day. If it is a leveraged position, you could lose more than you invested.

Choose highly liquid shares

Day traders must square their positions at the end of the trading session. This is easy if you are trading in large-cap, index-based stocks, which are very liquid and get traded in large volumes every day. Don't dabble in mid-cap and small-cap shares, where the traded volumes are not very large. You could end up holding shares that have no buyers at the end of the day.

Trade only in 2-3 scrips at a time

It's prudent to diversify your portfolio when you are investing in stocks, but when it comes to day trading, confine yourself to just 1-2 stocks. You can have up to 8-10 large-cap, index-based stocks on your watch list, but don't trade in more than 2-3 stocks at a time. Stock movements need to be tracked closely by the day trader and you won't be able to monitor more than 2-3 stocks at a time.

Trade in Trending stocks only

As we have scanner in our trading software which can scan Uptrending, Downtrending and Flat or sideways market, you should trade only trending stocks either uptrending or downtrending . Stocks in sideways market should be avoided.

Fix entry price and target levels

Before you buy, fix your entry price and target level. The psychology of the buyer changes after he has bought a stock, which could interfere with his judgement and nudge him into selling too quickly even if the price moves up marginally. This might cost him the opportunity to fully gain from the upside. In the software you will have best entry along with exit levels.

Use stop losses

Software will provide you with Trailing stoploss , when trend starts to build up increase your trailing stop loss level to protect your winning Trade. In the system when we take Buy postion our stoploss will be below Pinkline and incase when we take short postion it will be above white line.

Don't be an investor

If you doing Intraday trade , then never take your losing trade for next day, because if you have taken your postion against positional Trend of stock/scrip , you can be struck with that. Trading Stocks /scrips give better results when short term trend and positional trend is in the same direction.

Book profits when targets are met

Greed and fear are the two biggest hurdles for the day trader. Just as he should not flinch from booking losses when the trade goes wrong, he should book his profits when the shares reach his target. If he feels that there is more upside to the stock, he should reset the stop loss. Suppose you invest at Rs 100 for a target of Rs 110 and set a stop loss of Rs 95. If the price goes up to Rs 110 but you are bullish, raise the stop loss to Rs 108. This will reserve some of the profit.

Don't fight the market trend

Market rewards those who are with the current Market Trend, Always be with right direction of Market, Our software will help you keeping your postions with the Market Trend.

Don't overtrade

Do not over trade beyond your capacity. Market opens every day so don't ever try to make money in one day.1 wrong trade can wipeout your all gains and entire capital.

Understand Rules and Trading strategy

Follow the Rules of software properly , It is not possible to win in each and every trade, If rules are followed properly software will give you high accuracy and help you to trade only when there are maximum chance and high probality of getting desired movement.