Should I make intraday trading plan before one day of market?
Definitely yes, everyone should make intraday trading plan before one day of market.
Why its important to make intraday trading plan one day before market?
Let’s think you have not make any plan before the market open, When the market opens, you’ll look only trading signals or any tips or any advisory or according to someone’s trade. You takes an trade and think it’ll go up as the indicator showing strength. As a you enter in trade it’s moving in your direction and you’ll think your decision to take trade is right. But you don’t know where to book profit and stock comes down and more down levels.You couldn’t book the profit because you don’t know where to book some profit. There are basic rules of intraday trading is Entry, target and Stoploss should be fixed before entering in any trade. Because after entry in trade, human emotions play an important role and it’s hard to take decision with the emotions.Let’s suppose, you have a plan for next day trading, you’ve watchlist of some stocks with levels(Entry, Exit, Stoploss). Now you can control your emotions as you know where to book profit and where to book loss. It’ll be fixed on both side whether it is profit or loss.
How we choose the best intraday stocks and levels?
There are many parameters for choosing any stock for your next day watchlist. For intraday trading, technical analysis play an important role. We look over 300 stocks daily after market and check every stocks on different parameters like Moving Averages, Resistance, Support on One day, Hourly and 15mins chart.
Are the given stocks prediction is always right?
We are providing stocks on technical basis or on different parameters and these are only prediction. There is nothing 100% right. If the given stock levels break, the stock can jump to new highs but always remember this is share market, things can be change any time so ones need to prepare for everything whether it is profit or loss.