Posted by: Babu Suresh | December 14, 2008

Day Trading Indian Stocks and Indices

To successfully day trade in Indian Stocks, one has to learn and practice the following:

  • Tick Chart, 1 Min. Chart, 5 Min. Chart Analysis with Volume
  • Nuances of basic Chart Indicators like, RSI, MACD, EMAs
  • Follow the basic principles of your personal life while trading
  • Select the right Real Time Chart (I would recommend Falcon-Reliable)
  • Break Even Calculation (Must)
  • Determination, Conviction, Confidence and Consistency
  • Plan expected profit before start working on losses
  • Select the right broker with good trading software for faster order execution
  • Avoid watching CNBC, NDTV TV and other distractions
  • Avoid watching Int’l Markets
  • Do not worry about what happens to Nifty traded in Singapore or ADRs/GDRs traded in US
  • Completely avoid overnight positions
  • Trade within the credit available in the account – no leveraging
  • Invest 50% of your day trading profit in fundamentally strong stocks for medium to long term
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