How to Earn Rs. 5000 in Intraday?: Earning Rs. 5000 in day trading in stock market is not easy. Every trader enters the stock market with the hope of making good money. Furthermore, most of the times you hear traders making a loss. That is the irony of the stock market. One must understand that trading is not a gamble it is an art. If this fact is understood, the probability of making intraday profits go up significantly. Knowledge, strategy and bit of luck are perfect ingredients to earn Rs. 5000 or more in day.
About Intraday Trading
To be successful in earning Rs. 5000 in Intraday trading one must be aware of certain things. Moreover, to gain that awareness the traders can visit Trading Fuel’s articles and blogs. In spite of our articles and blogs, in this article, we will give tips and suggestions to earn Rs. 5000 or more in Intraday. Therefore, if you are a new trader or already a trader, this article is for you.
Tips to Earn in Intraday Trading
Select Liquid Shares
The first tip to earn in intraday trading is to select liquid shares. Liquid shares are those shares that have good volume. Always remember that intraday trading must square off before the end of market hours. Thus, select that share to trade where you will get sufficient buyers and sellers at any point in time. In fact, trading in liquid stock can lead to the holding of shares.
Always Put a Stop Loss
The golden tips to earn in intraday trading is to put a stop loss. Stop loss is a price level beyond which the trader should not hold a stock and exit by booking loss. In fact, this strategy ensures that trader’s emotions remain under control. Stop loss is very important for traders who indulge in short selling.
Profit booking is the most important tip to earn in intraday trading. Book the profits in a timely manner. Do not fall for the greed. The best strategy is to book small profits and do multiple trades. This not only assures of intraday profit but also gives an opportunity to enter in other stocks. To put in other words, by indulging in multiple trades, the trader has chances of making more profit in other stocks.
Find the Entry and Exit Point
Intraday trade can go wrong if the position in a stock is not taken at the right price. The trader should determine the entry and exit point of stocks he wishes to trade. The fluctuation in any stock is highest during the first 30 minutes of trade. Therefore, entry and exit point can be determined by seeing the day high and low. Once a position is taken, assure that profit or loss booking is done at the target price or exit point.
The next tip to earn in intraday trading is to find out the breakout point. A trader must look at the chart of the stocks. In fact, it tells about the support levels and resistance level of a stock price. By doing so one can know the breakout point of a stock and movement can be seen in the price from thereon. That is why charts are very critical for intraday traders. Little research and study of historical charts can prove to be very useful.
Avoid Going Against Market
The biggest mistake a trader does is to take a position against the market trend. This can prove to be suicidal. To illustrate, if the markets are in bull phase. It is always prudent to take a position in the stock with the hope of upward movement. Taking a short position can lead to losses. Therefore, understand the course of the market and take intraday position accordingly. In fact, high profits can be made by taking a position as per the trends of the market.
Research Your Wishlist
It is one basic tip to earn in intraday trading. Before taking a position in any stock always research it. In fact, make a list of shares that you wish to trade. Find out the intraday volatility and price moment. Determine the direction of the stock. Find out any news or event about them. Because of this study, the trader can understand the stock more closely. The trader can use the internet to find out the information.
Last but not the least tip to earn in intraday trading is not to over-trade. It is important to select few stocks and take the position only in them. Also, remember that in trading every day you will not make profits. Therefore, if a trader has taken multiple positions he will have no other option but to book a loss if markets are not supportive. Thus, the very important rule for intraday trading is to know your limits and trade within it.
By following the above intraday trading tips, the trader can earn Rs. 5000 in Intraday. Trading with strategy and knowledge is always helpful in the stock market. In fact, to help you gain knowledge, Trading Fuel is at your service.
The article and blogs on our page are very informative for old as well as new traders. Moreover, they not only enhance knowledge but they enhance your profits when you implement them. In addition, the reading material on our page is regularly updated. Therefore, you always have something new to learn and read about the stock markets. At the end, it is your knowledge and information that will help you survive in the long run in the stock markets. Just visit our blog and articles to gain priceless knowledge about intraday trading. We hope that you like this article: How to Earn Rs. 5000 in Intraday? Thanks!