2023-06-09 06:38:06
Are you struggling to make money in Intraday Trading?
Read this 12 Rules To Trade Like A Pro Rule #1"Don't lose more than 5% of your capital on any trading day."
Because surviving is key in intraday trading.
Rule #2"Don't risk more than 1/2% of your capital in one trade."
Even a 50% accuracy system can get 9-10 successive failed trades (statistically). So if you risk more, you will lose entire/more capital during such a scenario.
Rule #3"It's better to take a break from intraday trading if you are not feeling good emotionally."
Feeling good is the most important factor that decides the fate of your trades.
Rule #4"Always remember trading is just a probability game and not a prediction game."
Many traders lose money while trying to defend their analysis. Feel free to fail in your analysis, but don't lose money.
Rule #5"If you see the profit screenshots of other traders, it will trouble your emotional balance. So follow your trade plan."
You don't learn anything new if you look at the profit screenshots of others. Besides, you don't know whether the screenshot is real or fake.
Rule #6"It's better to stick one trading system across different market conditions. Your learning curve will not improve if you keep on jumping from one strategy to another."
Recall the famous quote by Linda "All you need is one pattern to make a living"
Rule #7"When you think you know everything in the market, the next day you lose big money."
Always keep an open mindset to learn new things in the market.
Rule #8"If you lose money on any trade, then you have made a mistake. There is a lesson to learn (no matter what)."
Every loss carries a lesson, find it!
Rule #9"There is no need to argue with anyone for any reason. You are right if you are making money in the market."
Arguments/debates drain your energy.
Rule #10"Profit in intraday trading is inversely proportional to your ego."
Decide what do you want? Ego or Profits?
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