Trading Guide for Beginners

If you plan to participate in stock market trading, you must be willing to make calculated moves with an eye on the markets at all times. Furthermore, you will need to make the right buy and sell decisions at the right time. So, if you are new to the market then here is the trading guide for beginners.

Continue reading to learn more about intraday trading and the 6 things you should keep in mind when you’re new to trading.

Intraday Trading Meaning 

Intraday trading refers to the trading you carry out in one day during the market trading hours. Should you participate in this form of trading you need to be on your toes at all times and should keep an eye on stock movements. You need to have a keen sense of the way the market may behave and must make decisions accordingly. 

Now, you can either place a single trade or take multiple positions during the trading sessions and square off all your positions before the market closes with a good intraday trading profit in your hand. But how to increase the chances to maximize your profit depends upon how well you understand the market and take the right steps at the right time.

To give you proper guidance in this, here we are with the intraday trading guide for beginners that help them to make their trading journey easier and more profitable.

Intraday Trading for Beginners

 Listed below are some tips that you should consider employing prior to carrying out any intraday trades.

 1. Timely Entry and Exit for Low-Risk High-Reward Trade

 It makes sense to trade in accordance with a prevalent intraday trend. Here, you can take advantage of low-risk entry points and have a higher chance of making gains as long as the trend continues. By pinpointing such patterns, it is easier to find strategic entry and stop-loss strategies.

When considering when to exit, either choose to leave once you have reached the target profit or when you reach the maximum loss limit you don’t want to surpass.

 2. Always Keep a Stop Loss

 A stop loss refers to an exit strategy that you can fall back on in case the trend you anticipated doesn’t materialize. This stop loss will also come in handy in case your expectation actually occurs as it allows you to have different target levels such that you can keep exiting at different price points. 

3. Make Trades with Reputed Stocks

 As a beginner, it is recommended that you start out by trading in reputed stocks that have established a name for themselves. With reputed stocks, you can take into account their previous performance and can be more confident of their capabilities.

This lies in contrast to lesser-known stocks that may require more skill to navigate and that experts may be able to assess better.

 4. Learn Different Trading Strategies

In order to carry out intraday trading successfully, it is essential to be armed with appropriate trading strategies that can help you work towards your goals.

No doubt there are certain intraday trading books but if you want to learn online then you can visit Angel One’s Smart Money¹ platform, where you can learn how to earn money from the stock market by studying the structured lessons that have been created to help grow your wealth.

You can personalize your lessons and can take advantage of curated modules that focus on different aspects of the market including technical trading, trading strategies, and fundamental investing. 

 5. Avoid Emotional Trading

 Maintaining a level-headed profile is key to making smart trading decisions. The moment you let your emotions get the best of you, you lose the ability to view the markets objectively. In order to not lose sight of your end goal, it is recommended that you stick to your strategy and not stray from it.

6. Start Small

 When starting out, you should try not to get too aggressive with your bets and should impose a maximum of 1 or 2 stocks, to begin with. Over time you can increase the volume and value of your holdings. By starting small you create wiggle room for yourself to make mistakes and have space to understand the markets better such that you don’t repeat past mistakes.

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Conclusion

By following the steps mentioned above, you can enhance your intraday trading skills. Visit the Angel One website today to learn more about intraday trading and stock market so that you can begin to trade and take your trading game to the next level. 

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Disclaimer

1. Smart Money is not an exchange-approved product and any dispute related to this will not be dealt on the exchange platform
2. This blog is exclusively for educational purposes
3. in the securities market are subject to market risk, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit. https://bit.ly/2VBt5c5

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