50 Trading Rules 2022 Intraday Trading
If you follow these rules trading will get you the desired results.
Day Trading Rules 1-10
- Trading is a business where the intention is to make profits and hence trade in the broader market direction.
- Frame your own Rules
- Have a right Entry Strategy
- Have the right Exit Strategy
- Have a Stop Loss
- Trade with discipline
- Do not break the Rules
- Avoid overtrading
- Do not average a losing Trade
- Do not trade with other’s opinion
Day Trading Rules 11-20
- Do not trade without a stop loss.
- Do not Enter blindly.
- Do not trade when you are not in good spirits.
- Have knowledge of day to day happenings around the world.
- If you are in the broader market direction the possibilities of winning are more.
- There may be some stocks going in the opposite direction trade them only if they are in good volumes any time it may turn to follow the broader market.
- Make sure to change or exit if the market changes its direction.
- Avoid or minimize trading during a choppy or volatile market.
- Most of the time the stops are hit whatever positions or directions you take during volatile and choppy markets so make sure the market is strong and will not reverse its direction after taking a position.
- If the market is up, to trade long, select a stock that is moving up if the market is down go short on selling stock.
Day Trading Rules 21-30
- Do not short a positive stock in a positive market or buy a losing stock in a selling market it is always dangerous unless you are well versed in executing a trade.
- The market is a friend, not a foe, if a stock had given you losses sometime back do not have grudge against it and keep trading in it entering every now, and then it gives more losses, if the setup is right it automatically comes to your notice. if you think the market is up and the market decides to sell do not wait it is not bothered about your decision, you change your perception and go accordingly, the market is always right.
- If the market is not moving wait for the market to show its direction and enter only when it has decided to move. There are big bosses out there. They decide the direction of the market, they analyze dissect the news, check fundamentals, world markets, and other decisions according to which the market moves.
- If there is big news such as budget, elections, Inflation data, IIP data releases do not trade let the market decide and start moving only then enter a trade.
- Many are used to tips which are mostly given with stop losses and many hit the stops rather than the targets. Avoid using tips, if you want to follow tips, wait, and watch its movement make sure and then enter a trade.
- Educate yourself on the movements of the broader markets, watch the US markets, Europe markets, Often it takes cues from it. One cannot decide just by watching only at closing it has to be seen how it behaved from the opening the entire movement till its close, how their sentiment is what it means to our market, Read what experts, analysts say, but they may be wrong too,. Do not blindly follow them market has its own mind; they change their directions not as per the analysts. So be cautious and alert always.
- Before the end of the day, it is better to close all intraday positions unless the trade is 100% sure of gaining.
- For an intraday trader carrying ones, the position is not advised because you find a good opportunity the next day. If a position is taken you keep worrying that it may go against you, giving sleepless nights watching the world markets all night. The next day if the market opens in your favor it is ok, but if it isn’t the day begins under a loss, you start off with a bad day, you have a dual task of neutralizing the loss and gaining which may or may not be possible that day. So start fresh. Because of the losing trade, you may be under pressure which makes it difficult to judge a good trade, the whole day may be lost in all manipulations.
- So the best way is not to carry any positions, start fresh, keep your mind free have a good night's sleep. Fresh fruit is always healthy.
- Trading is a very risky and tension job. Take breaks. Go for vacations. Trade only when the setup is good. Do not trade for the sake of trading alone. It is not a gamble. Relax with your family and friends they also need your time, profit and loss is part and parcel of trading it is a business to be done coolly and absorb losses or profit in the same stride.
Day Trading Rules 31-40
- See that the profit loss statement does not go negative.
- Work for it. keep your mind relaxed. Have fun and get relaxed. Keep your mind fresh for the next days' trade.
- Enjoy weekends to relax your mind, go for picnics, movie or music whatever you enjoy most but relieve your mind of the excess strain that it takes for the whole week a relaxed mind will think and act fast which is the basic requirement of an intraday trader.
- Share your experiences with your close aide: If you are alone in this trading, it is very difficult to hold on to your senses after the trading hours, have friends, go for chats relax, share your thoughts with friends, relatives, or online forums so as to give your tensed mind the required relaxation and freshness to trade for the next day.
- Love your family
- A trader who follows a set of rules framed by himself in order to minimize losses and maximize profits by putting their experiences of the consequences of the previous trades to use and not repeating the same mistakes again and again and following the winning strategy making profit consistently.
- Do not change rules or strategies for a few failures. Develop a systematic trading rule based on your experience of your winning strategies and follow it blindly whether you lose or gain it will lead to success,
- If you had gained earlier with those rules you are likely to win again.
- If you keep changing the rules or break the rules you are set to lose.
- Do not keep changing your strategy often, If you gain consistency in any strategy adopt it and do not change it.
Day Trading Rules 41-50
- Have a good money management skills with a good reward risk ratio.
- Have a big achievable realistic goal, work out a monthly or a yearly target, work for it, divide it into average daily profits, without greed, work for it and move in its direction,
- Do your homework daily for the next day's trades according to your strategy.
- Keep a trading plan to make an entry as well as exit.
- Have an exit strategy even before entering a trade for both profit and loss.
- It is very easy to enter a trade than to exit a trade.
- Do not change strategy often and look for a new strategy because the previous strategy failed, Learn through failures, and accordingly modify your strategy.
- Every new strategy needs experience and experience you get it by losing most of the time. So more strategies more losses.
- Stick to one systematic strategy of winning which you have, it may give bad trades occasionally but sticking to it gives good results later.
- Fine-tune your strategy and follow it strictly with discipline
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