Would you suggest intraday trading for a beginner?


Would you suggest intraday trading for a beginner?


Intraday Trading means the position that is taken when the market is opened and the same position that is squared off when the market closes down.
Intraday Trading is also known as “Day Trading”
Intraday Trading offers you high range of returns but with that it also associate high percentage of risk.
For intraday trading, one should do his analysis properly after that only they should make trades in intraday.
See, there isnt’t any criteria whether it is good or not but if the particular individuals has done his proper analysis or is taking full guidance about the intraday trading from the experts with full knowledge about its rewards and its risk. Then, the individual is qualified to start intraday trading.
If the beginner is qualified and well aware of the risk and reward associated with intraday trading, you may start trading.
It completely depends on the beginner whether he/she is ready to start or not.
Let us discuss about some important points for Intraday for beginners if they have chosen intraday trading.
Important Pointers for Beginners to know about Intraday Trading
An intraday trade order entitles you to higher leverage that means you’ll be able to pay a little margin and take an oversized open position.
You need to select intraday trade when putting in the order.
Ideally you should figure out the stop loss and exit point before entering the trade.
When you are leveraged in an intraday trade, keep in mind that it works both ways. If your profits can multiply, so can your losses.
Thus stop losses are vital while trading in intraday.
As a trader, you need to make sure that any open position is closed before market ends. If you keep it open, then your broker can mechanically shut all open positions after 3:00 P.M at market value.
Take responsibility of making sure positions are closed at the end of the day
Intraday trading isn’t always profitable. You will face losses as well. You are trading in span of five hours, movement might now be favorable and could trigger your SL.
What matters in intraday trading isn't profit or loss every single day. Whether you are profitable or not in long run.
Intraday trading is best done by reading charts. Technical is a big part of intraday.
Straightforward charts are enough to change you to trading. You don't need to be professional but you need to decode the charts.
Select the stocks only after verifying and doing their historical research.
You should know your entry point, exit point and also the stop loss of every trade you made.
Follow the market trend and understand the market closely.
How should Beginners start their Intraday Trading?
Start your day trading small. Increase your order size and order book step by step as you become experienced.
Never take a risk more than your risk appetite. If you do, any reversal can end your journey before it even started.
Begin with small, take calculated risks and step by step proportion.
Stick to your strategy.
Before you get into a trade, figure out the framework. Confirm your entry point, your exit point and stop loss.
Once strategy is in place, you need to have the discipline to follow it strictly.
Keep your losses as minimal as possible. Your risk to reward ratio has to be positive.
In intraday trading, smartness lies in cutting your losses quickly once you notice the trade going against you.
The market may be a nice teacher and in intraday trading you need to be humble enough to treat the market as your teacher and learn.
These are the points which beginners should never forget. I have tried to explain it as simply as I can. You need to make a informed decision after considering all aspects.

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