Hi, My name is Madan. I am novice to stockes and share trading. Especially intra day trading. 2n any one tell me how do I get started in intra day trading.Your guidence will be appreciated.
Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random
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Hi Madan,
I would suggest you create a simple trading system that can help you to make the decision when to enter and exit the market quickly, since with intraday you need to make a decision in a relatively quick time.
It also depend you what time frame you want to trade.
There is a free book for intro to intra day trading by Markus from rockwell trading, http://www.rockwelltrading.com/free-ebook
I am not affiliated with rockwell trading, I chat with Markus a couple of time during their trading room session as well as Brian. My impression is they are very good, they answer any questions I have and very open.
I only try their trading room for $1 trial for 1 week.
you may want to check the free book out to give you some idea.
I use their simple trading system combine with my trading system to improve the accuracy.
there are a lots of info about intra day trading on the net if you google, I would caution that there are lots of intra day trading room on the net which try to sell you expensive courses or free course but expensive monthly trading room, since you may find the same information from the net which is free in most cases. you can check them out as well and see if they are right for you. since trading need to trading system should match with you risk profile as well as the time need to suit you as well.
I found the simple trading system is still the best
Hope it helps.
Regards
- Max -
It seemingly looks to be the simplest and the most rewarding. But in intraday trading one has to be very fast and quick and have to be on your toes always, so there are certain rules which one has to keep in mind.
The first thing you should do when trading intraday regardless of the security is to have some general idea of where the market has been recently. You cannot of course start the day with a strong directional bias. The reason you cannot start the day with a strong bias is that intraday the markets can be very volatile and if you have stubbornly decided the market will go one way and it starts to go another you will find it difficult to change direction. This is because you will try and convince yourself that the move against you is temporary.
Happy Trading!