- Do paper trading and if you get success then go for actual trading. If you don’t get success in paper trading then do not do day trading, you will lose all your money.
- Initially don’t use margin amount for day trading. Once you get lots of experience then you can use margin amount. Trade only with the money available with you so that if the trade goes wrong you can take delivery of those stocks and sell later instead of bearing loss. This is only possible if you have bought shares and not possible for short sell trade.
- Don’t try to trade daily. If markets are very volatile then it is better to wait and watch instead of start trading immediately.
- Trading without losses is not possible so try to reduce losses and increase profit so that at the end of the month you should be in profit.
- Be in touch with news/events in the market. Most of the time it has been observed that News and Events affect the market. So instead of trading blindly on any techniques it is highly recommended and advised to keep yourself in touch with the market news and updates.
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