12 Basic but Golden Rules to follow for every beginner in Intraday trading.

10 golden rules for success in intraday trading. I've tried to keep it as simple as possible so that beginners will be able to understand.

1. Protect Your Money:

Don't risk too much of your money on one trade. Limit it to 1-2% of your total capital.

2. Have a Plan:

Plan your trades before you start. Decide when to enter and exit, and set up safety net.

3. Use Safety Net:

Always set stop-loss orders to limit how much you can lose on a trade. Stick to these limits.

4. Stay Updated:

Keep an eye on the news that might affect the stocks you're trading.

5. Don't Follow the Crowd:

Avoid jumping into trades just because others are doing it. Wait for the right opportunity.

6. Risk vs. Reward:

Aim for making at least double the profit you might lose.

7. Trade the Popular Stuff:

Focus on trading things that many people are buying and selling. They're easier to work with.

8. Keep Learning:

Always try to get better at trading. Learn about charts, patterns, and strategies.

9. Control Your Feelings:

Don't let emotions like fear or greed drive your decisions. Stay cool-headed.

10. No Setup - No Trade:

Wait for the perfect setup before entering a trade. Don't do impulsive buying. Wait for the right opportunity.

11. Start with Small Quantity:

You should always start small. Do not trade with huge quantities from the beginning. Trading with appropriate quantity will help you remain unemotional and make rational decisions.

12. Maintain a trading journal (Keep track):

Write down your trades and what you learn from them. It's like studying your own game tape.

To succeed in Intraday trading, you need discipline, a plan, and the ability to manage risks. It's okay to make mistakes as long as you learn from them.