InvestorQ : Are there some basic guidelines that I can follow while actually trading intraday?
Mahima Roy made post

Are there some basic guidelines that I can follow while actually trading intraday?

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Niti Shenoi answered.
3 years ago
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Well, there can be many guidelines and you can have a complete book dedicated to these guidelines. Suffice to say that there are 3 broad items to focus on here. Firstly, stop losses help a trader to limit losses in case the price of a share moves unexpectedly. This is quite a common problem in intraday trading and you need to be fully prepared for that. Secondly, make it as a discipline that you have to book profits when targets are met. Intra-day traders usually sell when they’ve met their profit goals, even if there’s a chance they could earn more. Don’t ever try to become an investor by default. Stay an intraday trader by design only.
Thirdly, the market is the king and the trend is your friend. So don’t fight the markets and don’t try to outsmart the market. That is not the job of an intraday trader. That is because even the best modes of analysis are not able to predict the way the market will move. The best thing you can do is to believe that the market is a strong signaling mechanism and you need to work your strategy around that philosophy. Listen to the market and interpret the trend. You don’t control market movements. What you control is how you react to market movements and how you control your losses. Stick to that!
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