Challenges of an intraday trader
The word intraday itself is a very challenging one when a trader star doing trades in intraday he has to face many challenges of share market. If he /she can overcome these returns on investment. What are these challenges related to? Well, some challenges are related to himself while others with an external thing which is under no control but can be avoided. So let’s take a look at them.
- Trading without strategy – While starting your trade for the day you should have a proper plan /or strategy and in case your plan A doesn’t work god for you, it is always better to carry a plan B for yourself.
- Latest News– A trader should always keep an update of the latest news going on. A trader should analyze the news impact which markets which segment and its related sector. If a trader is lagging behind such news, as a consequence his portfolio may have to suffer.
- Jumping too fast – When you are trading on intraday it is very important to keep in mind entry price and entry time. If the entry price is not correct you can turn your profit into losses just in friction of seconds.
- The patience of target – If you have made a strategy of proper entry and exit you should follow it always try to stick to your target. Do not hurry!!! Patience can be key to your success.
- Overtrading – Stick to your plan do not overtrade. In case of overtrading, you can turn your earned profit into. So don’t be greedy have patience. If you are done with your trade which should be a maximum 5 in the number you should stop.
- Proper research– Which starting up with your trade you should do proper research work. Pick a stock to analyze it properly, apply indicators to learn more about them, and then select your entry and exit level. If you are not good at research, buy one.
- Study the market– Don’t start trading as the market open. Take time to study the market up’s and down watch the impact of new on market. Study the trend of market is it uptrend or downtrend. Trade according to trend.
- Don’t forget the global market – Study global market trends. Remember the global market always affects. Indian stock market, as they are related to each other regular study of the global market trend will give you a great result.
- Keep an eye on brokerage charges– You need to check with brokerage charges that are getting deducted from your Demat account. If changes too much, change your Demat account today.
- Operating Demat- Many newcomers find it hard to operate their Demat as a result, they hand them over to a third person. Do not give your credentials to anyone else. Try to learn. It may take up to 4-5 days but it is easy and safe to put a trade on your own.
Don’t worry looking at these challenges. Take them as an opportunity and learn to deal with them. If you do so you can earn big bucks in share market. So best of luck and HAPPY TRADING!!!!!