Intraday Trading Golden Rules

[00:07] their main attraction, internet trading, which attracts them to this market. But as time passes, we all realize that intraday trading is very difficult to compare to other trading styles like

[00:20] swimming trading. Whoever has traded and compared to investing because debt trading is very stressful and has high risk and a lot of emotions are involved in debt trading, due to which the risk and a lot of emotions are involved in debt trading, due to which the

[00:34] in today's video, I am going to tell you six golden rules which every beginner should follow if he wants to become a successful trader. So let's start. wants to become a successful trader. So let's start.

[00:47] Trade Liker Robot. You heard it right, Red Light Robot. When we trade debt, how much should we rate the robot? This means that we have to suppress our emotions. We have to trade without emotions. Emotions like revenge

[01:01] trading are trying to recover losses. What happens when we suffer losses in the market, all we think about is how to recover the losses somehow. You come back like this and in such a situation we are unable to control our emotions and start taking random trades

[01:16] without any other setup or strategy. So trade like a robot. Once you have decided that this is my stock loss, this is my target, then just follow it. If there is a profit, then exit there or if there is a stop loss, then accept the stop loss and

[01:32] close the trade. Do not average it, thinking that if it goes up a little, then I will exit. Rule number 1: Set your daily limit loss. This means that we have to keep an amount in our mind that we should not lose more than this in a day. Those who are businessmen, at the beginning of the day,

[01:48] think about what should be their minimum profit for the day, but a professional trader, their target is on the lost side, that is, they decide what should be their daily limit loss. For example, someone's daily limit loss is 5000,

[02:02] example, someone's daily limit loss is 5000, which means that they are ready to take a risk of ₹5000. If the loss is more than this, then they will stop trading that day. The reason behind this is Understand the logic, see, profit is not in our hands. It is not like that. If we go today thinking that

[02:16] we should make a profit of Rs. 10,000, then we will make a profit of Rs. 10,000 today. No, this does not happen at all. But if we take a risk of Rs. 5,000 thinking this, we will not take more risk than this, meaning if there is a loss, then maximum Rs. 5,000 will be lost. But if there is a loss

[02:32] more than this, then we will stop trading that day. So is this possible? Yes, it is absolutely possible. So the conclusion is that

[02:44] things which are not in our control. If you set a daily limit loss, then you will remain in this film for a longer time or you will lose all the capital in one day because as beginners, we have to survive in this market

[02:57] and only those who have survived in this market have earned money. Roll number 3 Star Plus. Cost of doing business. See, whenever we do any business, there are daily and monthly costs in every business. There are expenses like labor, salary

[03:14] expenses, etc. And we all know that trading is a business. There are no trading is a business. There are no rent, or other expenses involved in trading. We just need some basic needs, like a

[03:30] laptop and a computer with an internet connection, which not everyone already has.

[03:49] First, we need to give time to our business. Today,

[04:04] you only need to take one or two trades a day, multiple trades a day. They take 10 or 20 trades from 9:30 am to 3:30 pm. They think that the more trades they take, the more profit they will make. But this is

[04:19] not the case at all. In trading, the more comrades you take in a day, the better it will be for you. You have to take as few trades as possible, but quality trades, according to your training strategy. Trading is not like our 96 jobs, where we have to be active throughout our

[04:33] office hours. Trading is not like that. We have to take at least one trade according to our strategy. Two trades a day, whether it's a profit or a loss, accept it and then exit the market. Overtrading may not make you rich, but it will

[04:48] definitely make your broker rich. Rule number five: When the related channels,

[05:04] because social media can distort you. For example, suppose you open a good long position in Nifty based on your strategy or analysis, and you're currently in profit. The market is going up. What happens next?

[05:18] You open your social media account and someone wisely posts, "I see Nifty is rising, now I'll short here." When you see this post, you get confused about what to do next. You close your position out of fear.

[05:32] You think he's an expert and what he said might be right. But come the end of the day, you see that nothing of the sort happened. You were right, you were moving in the right direction. But because of social media noise, you make the wrong decision.

[05:49] you make the wrong decision. See, it is possible that you

[06:04] can actually learn it, train yourself and then train which you have to note down everything, how many trades you took, how many profit making trades you took and how many loss making trades you took, how much profit was there, how much

[06:19] making trades you took, how much profit was there, how much loss was there, on what basis did you take the trade, on which pattern did you take the trade, you have to maintain all this in a book and coming to D &D man you have to look at this book to see where you are wrong, so maintain trading journal

[06:33] so hopefully you must have got some information from this video, if you found the video informative then like the video and subscribe to the channel, see you in the next video, till then best of luck Forest Dog