When one should stay way from trading

I would be delighted to know, if anybody throw some light on the following: " What are the circumstances (both psychologically related and market related) wherein a professional intraday trader should be away from trading."

Thanks

Never ever ever trade when watching porn. This I can tell you from experience.

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if a PROFESSIONAL day trader has to ask his question, Can he really call himself a PROFESSIONAL?

Ouch!

He should be away from trading when he is not trading.

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1-Never trade in your busy schedule. Means in trading “Nazar Hati …Durghatana Ghati”. Means keep your eyes always open

2- Don’t Over Trade

3- Dont try to trade in opposite direction of trend.

4- Dont trade in stress or tens mind. Always trade in cool mind. Keep yourself calm.

5- Always use stoploss to keep u calm when your trade is in your opposite direction.

Happy Trading…

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Try to stay away from range bound market. Often when market gets stuck in a trading range for many days I observed there is often no follow through price action. Buy dips sell rallies false breakouts and breakdowns.And it becomes night
marish for day traders and consistently stoplosses are triggered.

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Always?

Just kidding

I think on choppy Nifty days, dont do intraday. All stocks just do 1% up 1% down, algo crap goes on. Unless ofcourse some news based volatility

Other than that big event days, stay away if you are not professional trader. Can try index trades those days.

Avoid trading when Nifty is dancing between 0.2 percent and when there is some bad news.

My opinion, During event days or high volatility days better to stay away rather than trading.

After getting a monster winner. Stop trading for the day.

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I can’t say for others but for me it’s like good moods and bad mood stuff. I often make mistakes and shy away from hard work whenever I am in a bad mood and make impulse trades, the trades go into red 90% of the time.

If you are at the desk, making the trade, you should ask one question :

  1. Do the trade you are getting into qualify/Fit your trading rules/criteria?

If the answer is No/Don’t Know/Couldn’t be determined you should probably not trade and take a break.

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