Don't do below things for intraday trading
Don't borrow and trade
We strongly recommend that don't borrow money for trading. It will make you more pressure and unwanted stress in your life.First of all there is no guarantee for returns in intraday trading .
If you borrow and making a profit from trade, then it wouldn't be a problem. But if its happen oppositely ,think about it ? .So don't borrow and trade .
Which amount can I use for intraday trading ?
You can use a amount which is simply sleeping in your account with out making any good returns . Use the amount which is extremely not needed for next few months .
You can use the amount which is remaining of rent,monthly family budget,loans,investments ,educations and all other necessary expensive.
Don't subscribe paid services
All beginners are doing this mistake . 100% you can't make a profit from paid services . They simply sucking your amount in the name of sureshot calls,intraday tips ,premium calls and etc...
Don't do blind trade
Blind trade in the sense , simply trading by hearing a news from others .You can't predict the persons by his words ,If you can then you can undrestand market itself .
Don't do with out knowledge
First understand how market is working and basic technical terms .For intraday trading you no need to be an expert ,if you are able to understand technical charts, then it would be enough .
Avoid avarice while trading.Avarice make you loss .Always maintain a trade level in your boundary .Decide your boundary level before going to trade ,whether profit or loss come out from it once its reach the boundary .
Must do below things before you begin to trade
Learn technical charts
For intraday trading technical chart analysis is enough . You no need to analysis the stock's balance sheet or fundamental things of shares .There is few important terms in technical charts like break out, moving average,volume and so on.
You no need to understand all the things in chart,just trying to understand basic technical terms.
This one is strongly recommended to beginners . Paper trading is , you have to note down the stocks in paper which is you prefer buy and sell level for particular time period and analysis of your trading ideas instead of trading in real time .
So you can come to conclusion that your trading idea is working or not .