Wonderful go ahead! Im behind u!
Write index options
Great guns,
Few pointers:
- Stick to a very tight Stop Loss, put the Stop Loss in system, not in mind.
- Trade using money management techniques (eg. If u have one lakh rupees, trade with only 5% or 10% of 1 Lakh, don't over trade, however lucrative the market or deal or trade may seem)
- First do paper trading with your select strategy, see the profits, perfect it, be comfortable then only jump to trade with real money.
All the very best. Happy Trading.
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Before you make any serious move in this direction attain mastery in the use of technical indicators. Learn to use two indicators in conjunction with each other. For sometime do mock trading. Trading in NIFTY is a good idea as you dont have to break your head following individual shares. NIFTY options is a safer bet.
Day Trading is a risky and challenging pursuit: buying stocks and selling them again in the same day, making money off tiny fluctuations in the price of a stock over a few-hour period is not a easy job. Market makes moves in fraction of seconds and we need to act very fact to be successful at trading.
And we can act fast only when we have all the information about a stock, there are 100's of stocks out there for trading. How do we decide which one we should choose for the day to perform successful day trading?
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As far as i have Analyzed trading is driving a car . Ask you self while driving and car do you have think before applying breaks ? or changing gear ? or speed up when the road is empty and slow down when the road is full ? apply breaks when someone comes in between the road you have n number of permutation and combination but you reach your destination safely if you drive with confidence , experience , logic , map etc .and off course you need to have lots of fuel to reach your destination that you have place far the destination more fuel more risk in traveling near the destination less fuel required . when you relate that to trading So fuel = cash , Car = software( Zerodha PI ) , break and accelerator = buy and sell ,indicator = when to buy and sell etc WHICH ONLY COMES WITH CONSTANT PRACTICE same as perfection in driving only COMES WITH PRACTICE .