Intraday trading rules

Intraday trading is like robbing a bank. What you get take and exit. You never know when one will press the buzzer and you might be caught in the wrong side.

- Larry Williams (Big time trader and Analyst)

Please try to keep all these points to get good profit in intraday and risk free intraday trading:

1) whenever any expert or analyst gives you a target for any stock. Please don't wait for target price (Just keep stoploss as mentioned), just wait and decide target yourself. Risk and targets are highly subjective. Some one can afford to take big risks while others can’t. Hence use trailing stop loss. Example given in the earlier article.

2) Nobody is God in share market, any analyst or expert can't give pure target and stoploss. Intraday trading totally depends upon the charts and news on that stock before that day. (So u can't blame to your analyst).

3) Don't depend upon your luck. When any stock crosses it target or touched stoploss just exit. If u go for some more profit then it will change in huge loss, unless you are one of the luckiest (and that’s one in a million).

4) Don't trade in early hours of market or even if you do watch the market trend carefully. Just wait and watch the market and put your stocks in which u want to trade in your watch list and just track them for correct price(which ever your experts have said) if u not getting that price just don't trade on that stock. Here I am assuming that all intraday players have an online trading account and are in front of the screen all the time during market hours.

5) So many experts give calls before markets open means they totally depends upon previous data and charts. If somebody has given that 'Buy ; then just see in what level it has opened. If it opens near to target price then don't trade on that stock and if touches the stoploss then wait for level in which experts had said.

I think it will help u to make a good, safe and of course Profitable intraday trading.