10 Most Important tips for Traders / Day Traders

1. Most news about good stocks to go long for that day, can be understood from major financial channels by 9:35A.M, but before 9:50 A.M. Never agree on it at all. All that price is already accounted for in the previous days closing. So maximum of times you end up getting stuck up at higher prices.

2. Work with strict stop loss.

3. Sit before the screen. Never place orders through telephone without having access to the stock's prices second to second.

4. Target 1 is always enough.

5. Trade only 2 or 3 stocks per day.

6. Past performance is not a guarantee for future performance.

7. If you can’t get scrip at the price u wanted and if it goes up simply don’t go behind it.

8. Never go by others comments, AFTER you bought the share.

9. Strict homework and analysis about the sudden increase in stock price or sudden fall is very very important for a trader.(It is the best tutor which can help you in the next day trade.)

10. If the price of the scrip you bought increases, use TRAILING STOPLOSS.

Example: If bought at 90 rs and cmp is 96, SL is 94.If it goes to 100, SL is 98.

This method helps you gain profits in a very volatile market.

If you follow the above strictly, I challenge you that you can never suffer from severe losses and take back handful of profits.