How To Make Money In Trading

By Author: Astrotechnicaltrade
Total Articles: 1
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TRADING IS A PROFESSION
Even ,if you are not a technical analyst, can follow the following technique of doing Intra-day trading.
Before I tell you the simple technique to make money I would like to point out one of the common mistakes people make in the world of trading . They without proper education of trading, enter the market and start doing trading and lose money and go out of the world of trading heartbroken, blaming from their luck to everybody even GOD, as though GOD had the obligation to help them in trading.
Trading is an art and work for alert people. Laziness kills in trading. Money could be made in trading using chart reading techniques. Intraday trading or jobbing should be done with the help of technical analysis, because fundamentals does not change in a day for a company. So fundamental cannot affect the price movement very much in a day trading.Prices changes due to the view of the crowd doing trading on a script on that particular day. Their fear and greed takes prices up and down. Emotions of the people fluctuatethe price movements.
This intraday method is very simple to follow. ...
... It just needs you to be little alert in day trading. To use this method you have to be very alert in first 30 minutes of the trading day in the morning. This method is based on the trend following principle.
HERE IS THE METHOD
1)When the market opens in the morning for trading look for the OPENING, HIGH AND LOW price of that particular day. This observation you should make after first 25 minutes of the day trading.
2) If you find Opening price and Low price of the day are same you should long your position on that script or commodity i.e. you should buy the script or commodity with STOP LOSS just below the opening price
For example, if script X has a Opening price of 103.25 and low price is also 103.25 you should buy the script with stop loss at 103.1
3) On the other hand If you find Opening price and High price of the day are same you should short your position on that script or commodity i.e. you should sell the script or commodity .
For example, if script X has a Opening price of 103.25 and High price is also 103.25 you should Sell the script with stop loss at 103.35
4) In both the scenario make sure prices have not moved very far away from the opening price because if it has moved, then in that case, script might have made the movement of the day. Price still might not go below the opening price but you will not be able to benefit from it.
5) In both the scenario please take the reasonable profit using this technique of day trading. Remember you are doing day trading not swing trading or investing
90% of the time this method works, for rest 10% we have our GURU MANTRA----STOP LOSS. Never ever do any sort of trading WITHOUT STOP LOSS. You never drive a car without brakes. Do You? If you do then you know what happens!
I hope this simple day trading method helps you making some money in the market. But do remember it is not a HOLY GRAIL of a intraday trading. Leave alone this technique, there is no HOLY GRAIL of trading. If somebody promise you a HOLY GRAIL of trading than better stay away from such person. You might become bankrupt listing to him.
Some precautions in trading
1) Remember Guru Mantra—STOP LOSS.
2) NEVER HOPE, EXPECT OR ASSUME. ONLY FOLLOWS TECHNICALS.
3) Never let Profit turn into loss.
4)Don't worry about yesterday, focus on today.
5) Remember you do not have to be in the market all the time.

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