What technical analysis do you do before taking a trade in stock?
I will tell you a simple idea which one can follow consistently to fetch some good returns in stocks intraday trading.
1.The stock which has higher volatility is better to be chosen for intraday trading
2.One methodology to Identify such stocks is the Top Five Gainers and Top Five Losers of the day.
3.At 9.30am ,find the Top Five Gainers and Top Five Losers of the day. Below is the snapshot taken from money.rediff site. You can even the same info in your trading terminal during market hours.
Source:- Image taken from Mutual Fund India: Rediff MoneyWiz website
4.These stocks when blended with technical analysis factors such as risk reward ratio,trading by the trend etc can be used for intraday trading
5.Traders focus on developing a “ trading system” which they believe will deliver consistent returns
Developing a system is stepping stone for being a good trader but if you fail at execution of your plan you will never be able to make money. Having the trust on the trading system and execution plays a vital role in their success in trading
Few things which can help in your trading:-
Always have an alternate plan to protect your capital if you have serious of consecutive losses in your trades . This can help you your emotions over rule you during losses.
Do not think about making overnight success. Be realistic in your expectation and always focus on creating wealth consistently.
If you are new to market and looking for a strategy which is completely automated, where all trades will be automatically executed in your own trading account by eliminating human emotions , then you can visit www.returnwealth.com
For More Details Call:+917708838702