Suggestions for New Traders

10 Suggestions for Intraday Trading CITS

New traders keep losing continuously or occasionally gain profits. To become Successful follow these Suggestions for New Traders for Day Trading or Swing Trading and adopt a suitable strategy to suit your temperament, money management techniques, and ability to wait for the right pre-determined setup. 

If you want to succeed as a trader follow these 10 important suggestions to avoid failure.

• Never ever enter randomly for the sake of a trade and speculation wait until you are sure of your entry point as per your strategy.
• Are you sure of your entry price? if yes only then a trade is to be taken after ascertaining the risk-reward ratio, the stop-loss price assessment where the stop loss should be placed such that it is not taken out in the noise, the loss should not exceed your risk-taking capacity.
• What is your stop loss and how big or small it is? If you are placing your stop at 2% of the capital it should not be taken out or moved beyond 2% under any circumstances. just stick to a principle and formula.
• Are you able to withstand the waves or the volatility of the price movements? Depending upon the time frame one's stop is to be placed.
• Are you losing all the profits you made? If you are losing all the profits and taking stop loss hits then the profit-taking expectation is very high which needs to be introspected and control your greed.
• Are your stops regularly hit? Then you need to study and make the necessary changes to your strategy and entry points.
• Are you making reasonable profits in proportion to your trading capital? If yes just stick on to the strategy even if you have a few losses, just because you had a few losses do not try to change the strategy for a few losses.
• Do not go for recommendations of greedy profits, the loss will be in the same measure.
• If you made some decent reasonable gains book your profits, don't go for big profits until you are sure of increased profits lest you end up with losses.
• Gain less, but gain regularly, capital retention and loss prevention are the Key, let this be the mantra.
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