Our today’s topic is How To Earn 1 Lakh Per Day From Share Market. According to experts, intraday trading is not ideal for everyone, as it needs traders to have a practical approach and play wisely to earn money. If you want to make money quickly, then intraday trading could be a good choice, but you need to have experience and do research on the market strategies.
In intraday trading, the trading starts and stops on the same day. So, investing and making a profit requires time and effort to understand the market and the ability for the right assumptions. You need to study the domestic and international market, keep news about company updates, government updates, and so on.
Here are some easy ways to make a daily income in intraday trading
Follow market :
There is a common saying “Trend is Friend” in the share market. The easiest way to earn a profit is to trade by following trends or in the direction of the trend. If you go against the trend, you might end up with no profit. So pick up stocks that are in trend or will be trendy.
Liquid share :
Liquid shares are those having good volume, always choose liquid shares in intraday trading. It always needs to be squared off before the market hour ends, so select shares where you will get enough buyers and sellers at any given moment.
Put stop loss always in Intraday trading :
Another important factor to consider is to put stop loss in your trading. Here you are in control of holding stock if, the price drops beyond your assumption. You can set a margin and avoid further loss by marking your lowest share price. Putting stop loss is very important for traders who trade in short selling.
Book profits :
Profit booking is another important tip for intraday traders. The best way is to book small profits for multiple trades, as it provides intraday profits and opportunities to enter other stocks. Multiple trades increase the chances of profit. So, book the profits on time.
Entry and exit :
Intraday trading can get affected if the position in trade is not taken at the right price. It is necessary to know when to enter the market and when to exit from. You cannot take decisions randomly related to the stock market, especially in Intraday trading.
You must enter before knowing the reason, at a particular price point, and what will be your profit target and placing a defined stop loss as per your risk management. The fluctuations get highest at the first half an hour, so you can decide the entry and exit points by determining the day high and low.
Always find a break-point, it is another important tip for traders. Take a look at the stock charts, it tells about the support and resistivity of the stock price. These charts are very useful and studying charts history can be helpful for your research. By doing this chart research, you can see the price movement and set up your break-out point.
You must always get prepared for any intraday trade in the stock market for tomorrow. Prepare a wishlist of stocks that you want to trade tomorrow and make sure that stocks are high-volume liquid shares. Go through the charts and patterns that you can understand the intraday volatility and price movements. Set up your strategies and enter the market determining the direction of stocks. You can do a bit of research on the internet for any news or events regarding the brands, it may also help you.
No over-trade & risk management in intraday trading:
Greed and fear are the two most important factors that affect most intraday traders. These two factors can lead to huge losses. It is always advised to avoid these emotions while trading. Overtrading is not recommended, as it is very important to select a few stocks and take the position. Intraday trading wouldn’t give you profits every day, and holding multiple positions I’ll lead to loss if the market doesn’t go supportive.
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Here risk management comes into the picture. If you are not managing your risk, then you might lose your invested money. Risk capacity and risk appetite vary in individuals. You have to understand that all trades are not profitable and the only way to survive in trading is to have proper risk management.
Hope the best :
Buy on hope and sell on reality. As an intraday trader, you would largely deal with expectations. If you are trading based on news flows, you will have to initiate the trade based on expectations and then book your profits when the actual announcement is made.
Advice for Intraday trading:
As trading in the stock market always includes profit and loss both, you must do research and keep updating yourself continuously. Get expertise to experiment more. Once get well aware of the market, you can put your investments to grow. But, the presence of risk is always, so choose stock and take decisions wisely.