Intraday trading is taking a long or short position in any security and squaring off the position before the day ends. The tools and strategies used for intraday trading are quite different from those used in long-term trading.
In intraday trading, the markets are very volatile and your profits will not depend on the market going up. You can also make profits while the market is going down. It is also important to isolate the current market trend from any surrounding noise and capitalize on that trend. To get the latest information you can watch live intraday tips in this regard.
We have listed the top 7 Malaysia intraday tips that can be helpful for you to generate profits:
#1. Make a Consistent Trading Plan
A consistent plan is essential to be successful in trading. With a smart and consistent plan, one will have guidance on when to take a trade, when to book profit, when to cut the losses and what are other opportunities exist.
#2. Trade Only With The Money That You Can Afford to Lose
It is important to set aside a certain amount of money for trading. This strategy can help you to minimize the amount of loss while the market moves against you.
#3. Stop Loss is a Must
All the traders must make it a habit to use ‘Stop-Loss’. A stop-loss order is an automatic order to buy or sell a stock when its price reaches a specified price. Remember, stop losses are required in most trades, but it is a must-have in intraday trading. In the absence of a stop loss, a trader will end up holding positions with unmanageable losses.
#4. Choose Liquid Securities
Liquid securities have high volume trading. This allows for the purchase of large quantities without significantly impacting the price. High liquid stocks are useful for intraday trading as it makes it easier to get out of a trade.
#5. Never Over Trade
One of the golden rules in Intraday Trading is to keep your trades limited. Share market never moves in a particular pattern. Trading only in a handful of stocks is the best way to make consistent profits in intraday trading. This strategy helps you to liquidate the securities quickly.
#6. Keep an Eye on News
Keep a close watch on Malaysia Intraday Tips and Intraday Picks that are published regularly. An intraday trader should keep a strong eye on news and tips otherwise the chances of losses become quite high.
#7. Trade Stocks in Uptrend, Weak Stocks in Downtrend
When the indexes and markets are bullish, traders should look to buy stocks that are moving up more aggressively than the futures. When the futures pull back, a strong stock will not pull back as much. These are the stocks to trade in an uptrend because they tend to lead the market higher and, thus, provide more profit potential.
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