Day trading has been one method of trades which I have scrupulously avoided on this blog.
But we can not ignore the fact that there are many traders for whom day trading is the bread and butter.
To avoid the bread going stale and butter becoming bitter, one must do the day trades in the right manner.
I had posted this on Quora in November 2017:
How Can I earn Rs. 1000 a day in intra day trading? :
This kind of question keeps on coming repeatedly in various forms.
It would be advisable to read the answers for similar questions.
There is only one way to earn profits in the market whether it is Rs. 1000 a day or Rs. 100000 a day.
You have to SELL at a rate higher than you BUY.
Practicing this simple principle day after day will give you the desired results.
Practicing is simple but not easy.
Trades will go wrong.
Experts and other advisers will tell you about how much profit to take but nobody tells you about how much loss to take.
It is equally important to learn about the loss management.
Rather than repeating the earlier posts , I am providing the link here:
I hope that these answers will provide the necessary information.
Trading is a skill to be developed with practice. You have to take good with the bad. Every loss is to be used as a learning opportunity.
It is not that you enter the market after reading a few books on trading and lot of money and the doors to unlimited profits shall open up for you.
It is going to be a slow path to profits punctuated with a number of losses.
Learn and achieve your goal.
Thanks for reading.
Image: Google Images
The answer remains valid today.
If at some time in future, I introduce day trades on this blog, these views will keep me in check and in the right direction.
Enjoy the holiday.
The long weekend comes to a close today and we shall be back for normal trading tomorrow.
Link to the post: