Important points to keep eye on before intraday trading

Intraday Trading Tips

New to the world of investing in commodity market? Grappled with the nomenclatures and terms of the market? Well then simply do not completely rely on your broker’s advice to what to buy and what not to. Try and learn the rules and working of the market yourself a bit to be there for long. It is easy to depend on intraday trading tips given by your broker and trade, you can also make some money but till the time you do not understand the nuances of this market you are susceptible to incur heavy losses.

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MCX Intraday trading tips

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Please check before you invest

Always deal with the market intermediaries registered with SEBI / Exchanges.
Give clear and unambiguous instructions to your broker / agent / depository participant.
Always insist on contract notes from your Broker. In case of doubt of the transactions, verify the genuineness of the same on the Exchange website.
Always settle the dues through the normal banking channels with the market intermediaries.

Difference between trading and investment

A Large number of people are confused with what is trading and what is Investing. Investing on one hand is like buying an asset and holding it for a long time say10 or more years.
Trading on the other hand it like buy a stocks for 2-4 Days or Intraday trading. Some traders buy stocks for short term and then sell them off in profits. in turbulent times it is difficult to trade intraday and book profits. So we advice you to take help from a good broker company that can guide you where to put your money

For Intraday trade keep eye on index

If index is in minus then one should look to short commodities which are minus and not commodities which are in plus.
It is not necessary that a commodity which is weak today during intraday trading might be weak tomorrow also, simultaneously if a stock is strong today might not be strong tomorrow
Being a contrarian is very important while trading intraday.
If index is in positive from yesterday and the share you are holding is in minus then it should be cut and if intraday trend of index is in buy then one should buy a stock in which is in plus.
If US Markets have gone up overnight, the markets here in all probability will open strong, so one should be quite careful when buying stocks as the general psychology of public is to buy when good news is there.
Stop loss is a must while trading intraday.
Always trade in very liquid stocks i.e. which have very high volume because as entry and exit can be very fast in such stocks.
Keep your volume constant

To be a successful day trader you should learn Trend trading, Swing trading, Open interest, Technical and Fundamental analysis also. The more you learn the more you earn

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