Following are the trading rules I suggest everyone to follow for day trading:
- Place all trades at market prices between 10:20AM and 10:40AM.
- Place stop-loss orders immediately for each trade.
- If the given stop-loss is very near to the existing market price then place a stop-loss at a distance of 2% from your trade execution price.
- Square-off all trades between 3:00PM and 3:10PM. Don't use limit orders. Square-off at market prices.
- Do not trade if you are not 100% comfortable with the script.
- For SELL recommendations, place a short sell order in the beginning(at high price)…and then a buy order(at lower price)..during later part of the day.
- Be extra cautious while placing short-sell orders.
- Never ever take your trade home. Square off everything at 3:10PM.
- Prefer trading at NSE
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