Is it realy possible to make money from Intraday trading?

Every traders, in their life have at least once, tried intraday trading. Most of them failed to succeed just because they had a confusion of whether it is possible to earn money from intraday trading consistently. I am doing it successfully for a longer time. I also beleave that the question arises to your mind because, you want to do so but failing. Don't worry, it just a matter of time you will definitely win.

As per me , if you believe that you can make money from intraday trading, you will. but unfortunately after failing quite a few time most of the traders give up. Correct decision making, understanding the trend for short term basis, following the news and understanding technical analysis and price action is the key aspect of doing consistence profit of intraday trading.

If you want to do so, on regular basic, set up your mind first towards the strategy and practice your strategy in the market. Analyze what kind of trader you are, do a research on your mindset, understand yourself first and do trading.

Please do understand that Intraday trading is not a complex thing, rather it is a simple but difficult job. Few promises you have do to yourself and follow the same if you really want to be successful in your intraday trading journey.

Never be too greedy or too fearful. Anything and everything can happen in market.
Always use stop loss.
Check support, resistance and trend line before taking any trade.
Do not close your wining trade too early.
Never average a loosing trade.
Update your journal regularly.
Analyze your journal to understand your trading psycology.
Try not to repeat any mistake you have committed earlier.
Be slow but be steady.
Do not risk all of your money on a single trade.

Understand money does not matter and if you have a wining strategy and you have practice it well, yo just need to increase the quantity to get more money, meaning your right action matters.

Last but not the least, never hesitate to cut your losses at your stop loss. Be loyal to your strategy, definitely you will get more money from day trading.

Comments

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