To become successful in day trading it is important to apply practical as well as mental rules which you will come to once you proceed ahead.
The following are few very important techniques to be used to get success in day trading.
1. Understand the truth of day trading
2. How to generate profits in day trading
3. How to Avoid or at least reduce the losses.
4. How to safeguard/protect your capital
According to our experience day trading is not possible for everyone because not only practical
approach but also some emotional factor plays very vital role in providing profits in day trading.
So we generally we advice to do paper trading practise and if you get success then traders can proceed
to do day trading with actual money.
Day trading is not overnight quick rich scheme and most of the people come to stock market and especially to day trading to become rich in one night or to generate big profits in single trade based on some tips. But this is not true and also not possible.
Day trading requires study, dedication and experience and then it will give profits.
It is not one day course but in fact trader has to put efforts for months to understand markets and then it is possible to get profits.
If you are thinking to earn profits without any efforts and also based on some tips then day trading is not for you but if you continue doing same then it will take you to heavy losses.