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Learn to earn from Stocks

Date Added: January 16, 2012 02:49:51 PM
Author: Saikat Hazra
Category: Business & Economy: Finance & Investment

-: Essential Skills all Traders should learn to be successful in Stock market:- Give a man a stock pick, he may or may not win. Teach a man how to trade Stocks/Commodity/Forex, and he profits for the lifetime. My genuine advice would be to all traders who hope to prosper is : “ you can certainly achieve financial independence, at the price of honest hard work ( do keep in mind there is no short cut of hard working ), study, discipline and knowledge. Like anything else worth having. It’s up to you to decide whether or not YOU ARE SERIOUS ABOUT THIS BUSINESS (Yes treat this as BUSINESS). Some IMP points to keep in mind in this context:- 1) You should almost never buy an opening gap up ; there is a favorite market maker trick called the “ GAP AND TRAP “ . This point is not only applicable when you see higher highs and higher lows sustained for a few minutes on higher-then-average volume 2) Don’t to try average out your trading position. 3) Always stop out your Trades when it hits Stop Loss. 4) Money Management is very much important. 5) Give up your emotion while Trading and don’t fall in love with your stocks. 6) Never ever turn a profitable trade into loss. How to choose stocks for Daytrding : Screening for high-percentage stocks:- A Common Mistakes new trader make is to try and daytrade either: The top 10 Most Active NIFTY Stocks or Cheap Rs. 20-100 Stocks because either they have a lower capital or they believe if they trade in lower value stocks loss would be lower as well! But they forgot that it’s the percentage which counts not the stock price! The Stocks you trade should have the following characteristics :- Average spreads ( gap between price) should be very tight At least 2-5 lakhs shares per day average daily volume (prefer 5lakhs+ optimum) Intraday average trading range of 5% or above (eg. A Rs. 1000/- stock should have a Rs. 50 intraday range ( Reliance) , a Rs. 2500 stock should have a 100 points range ( SBIN) etc. You can also profitably play IPOs, news plays, earnings plays, upgrades/downgrades and others, but at the beginning you should only consider 4-5 stocks that you want to trade regularly. I will not just keep on adding this boring things ( though they are extremely necessary) and will come to the point to set things which can actually change the out look of your trading. Here it Goes:-
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