How to Make Money Intraday Trading in India.

What is Intraday Trading?

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Intraday trading is buying and selling assets on the same day before the market closes.

It is also referred to as Day Trading because all open trades are closed before the end of that particular trading day.

Most traders in the asset market have resolved to this kind of trading rather than other techniques (like scalping and swing trading) because unlike scalping and swing trading; day trading allows an asset enough time to make the anticipated move.

How to make money intraday trading in India:

  1. Study and Research.

The first thing you need to do before you can even think of making money trading is understanding the markets.

You should not stake a cent of your hard-earned money without the basic knowledge of: –

  1. How to trade
  2. When to trade
  3. What to trade
  4. Why trade

The asset market is a whole field of knowledge and you need to understand, at least the basics before you venture into trading.

Read books about trading, read articles, and blog posts which teach you how to go about trading and any other relevant materials.

Reading is not enough though.

As you read, acquaint yourself with how the markets move, how different chart types work, and how different broker platforms work.

It is until you read and acquire practical skills in trading that you can say that you can begin making sustainable income trading.

While studying, ensure you also research different assets and how to trade them, because all assets do not react to the same market conditions.

Once you are confident that you have gained enough knowledge, skill, and experience, then it is time to try intraday trading.

  1. Wait for the right time to trade.

Not every time is suitable for trading any asset.

Ask currency traders and they will tell you that different currency pairs are best traded at different times depending on the open Forex session.

Remember, timing is everything in the Forex Market. Do not rush to take a position while intraday trading.

If it is the volatility that you are looking for, wait until there is volatility.

If it is a proper trading signal you are looking for, wait until it completely forms.

  1. Choose liquid assets.

While intraday trading, you are anticipating to profit from price moves within a day.

Of what essence then, is choosing assets whose prices take days or weeks to react?

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Visit Website
Features
Bonus
Review
Register
1 Best Brokers in 2019
  • Demo Account
  • :Regulated
  • :MT4 Integration
  • :Supports All Devices
  • :Fast Payouts
  • :Instant Deposits
Demo Account With $10,000
* Risk Warning: Forex and CFD trading involve a significant risk to your invested capital.

Choose those assets whose prices react so fast and fluctuate fast and repeatedly. That way, you can profit from the high volatility and liquidity of the market.

Remember, the key players in the markets trade only when there is high volatility hence driving liquidity.

High volatility and liquidity assets provide the best trading opportunities. Choose those very assets to increase your chances of earning.

  1. Utilize the small price moves.

You are an intraday trader, not a swing trader.

Intraday traders like you do not wait for major and big price swings but utilize the small swings and price moves.

Do you see those price moves that occur in minutes and hours?

Those are your prey and if you let them go, you might as well come out of the markets empty-handed.

If you are to become the best version of an intraday trader, then stop waiting for big price moves.

Also Read: – HOW TO TRADE WITHOUT INDICATORS ON THE OLYMP TRADE 1 MINUTE STRATEGY.

Those are for swing traders.

Rather, pick that small price move and maximize on it to earn – 100 small price moves earning you $1 each makes you $100 and that should be enough money for a day.

  1. Enter multiple positions.

I have seen intraday traders who boast about how they place one trade and it serves them enough money for the day. That, as far as reality is concerned, may not be true.

Remember we said that it is the small moves that you prey on while intraday trading that makes the difference.

And how else would a small price move earn you so much money if you don’t stake so much in return?

Utilize the many small moves that occur during the day by placing many trades whenever the signal is right.

Many small moves, many trades, losing some and winning some, will make you a fair sum of money on a regular trading day.

That’s of course without going the extra mile to trade more.

  1. Plan your trades.

Sometimes it is easy to confuse placing multiple positions to over trading, try not to overtrade. 

Know the exact number of trades you need to make in a day and stick to it.

You cannot trade for a whole day in the name of entering multiple trades.

You risk getting too tired to make objective and sound trading decisions.

Plan every trade, enter the exact number of trades in your plan, and stick to your trading time. Never over-trade, lest you want to blow your account out of fatigue.

  1. Use Stop Loss and Take Profit Orders.

As you plan every trade, plan for both entry and exit via Stop Loss and Take Profit orders.

You do not want to lose everything in your account in a single trade just because one trade went south and wasn’t restricted by a Stop Loss.

Plan and know how much you can stand losing in one of the many trades you intend to enter.

Risk only that and target at least twice the risked amount so that your reward exceeds the risk.

One last thing to note is that while day trading, you should never risk more than 50% of your account balance on a single trading day. Incorporate that into your risk planning.


*Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.
 

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