You can stay away from intraday trading easily by applying basic life skills within you. Many of my clients told me that they lost money in share market. They have lost money because, they actually invested money in the share market to make huge profits in short span of time by doing intraday trading. It is very good idea when there is a strategy for sure shot profit. Share market is always meant for high volatility. There is no concept of sure shot profit at all. You have to invest and watch the share price continuously until your broker squares it off or you have to book the lose to close the position. You may end up with the losses instead of making profit. At least, you must be able to take the delivery if you have sufficient money to pay full amount for the shares that you trade. Market experts also instruct you to put the stop loss. Stop loss is nothing but lose, if the share price goes down below the mentioned stop lose price, you have to sell. You will be in sure shot lose when you sell at the stop loss price. So it is always better to stay away form the intraday trading to stop the losses.
I advice my clients to invest for short or long term profits by paying full money. I mean, buy the stock and keep them in your demat account. You can sell whenever you get sure shot profit. If you don’t see any profit, you will get at least dividend every year. You can do little research on quality stocks and invest money in top companies listed in main indexes. Then you will have the benefit of making short term profit
How to stay away form the intraday share training to cut your loss
Once you enter into the share market, it is almost impossible to stop switching or wavering your mind. Your mind fluctuates as per the market fluctuations. Your mind will tell you many things during the trading day. If you don’t control your mind, it is very dangerous. The situation will become almost like a gambling. Intraday trading is just like gambling with money. What i mean is nothing in your control. You may get profit or lose. 50% chances are there in both the directions. It is always better to stay away form gambling. Keep this point strongly in your mind before entering into share market.
To stay away from this kind of gambling, close your eyes and take a deep breath for 3-5 times before opening your trading account. Be calm inside and think about what you want and how much profit do you need and invest some of the money into good scripts and take the delivery. Do not use your mind heavily to make more money in less time. There is no such kind of short path to make money or to multiply money in less time. If there is a shortcut, All the business owners will not do actual business. They sit in front of the computers. If all the business owners sits in front of the computer to trade in shares, who will do the actual business. So understand the logic of moving money form one hand to another.
Actually very less people make profit in intraday trading. Many people or mutual fund companies will make more profits by taking the deliveries and holding until they see desired profits. You have to think about market properly and understand the complete logic of fluctuations in price. Spend very less time to buy required stock and put the limit on desired profit and come out form the market for that day. You can do this activity regularly to earn healthy profits over a short or long period of time. You must take the necessary steps to become discipline in buying the stock. You have to do some kind of meditation to keep your mind calm. You can follow my strategy of taking deep breath for 3-5 times always whenever possible.
You have to invest only 15-25% of your savings in the share market. Nothing more than this should be invested within the share market. Also remember that you should not put other’s money by promising them huge profits. It is not in your control. You have to train your mind completely to stay away form the intraday trading. You have to store the information about threats of losing money or danger situations within your mind and see yourself virtually like a complete looser in the game that you played. You will get some kind of fear of losing your complete savings or hard earned money in single day or in few days. This kind of thought process keeps you stay away form the intraday trading.