Top 8 Share Trading Tips for Successful Traders

It is an indisputable fact that the money is necessary for life. Everybody needs it. You use it every day of your life. You need it to purchase food, you get clothes with it , fill up gas in your car with it, and such things for your comfortable life.

Day trading is a great way to increase your earning capability. It basically deals with trading on the markets in a single day with no long term investments. This helps make profits that quickly return to your bank account. Perhaps that is why this type of trade is increasingly popular by the day. Still, as with all kinds of trades, the day trade tends to have its share of risks. You can make big money in just a day, but then the stakes are also enormous. You could lose a lot of
money as well, in just a day.

1. Have a Definite Plan and Stick with It - You must take time after each trading day to analyze the action of the market, consider the technical and fundamentals, then plan what you will do the next trading day - buy, sell, or hold. Before the opening of the market each day, you must recheck your analysis from the previous day. Since, something new could have occurred over night.

1. Do not Trade Impulsively - The biggest weakness of every trader is giving in to impulse trading. Impulse trading is basically gambling and can cause you to lose the largest amount of money by invoking your emotions of fear, greed and inability to recognize you made a bad trade. Successful traders know they will make bad trades from time to time. But they never hold on stubbornly to a losing position. They try to keep their losses small.

2. Look for Special Situations - Avoid low volume trading shares. Why waste your time and tie up your funds with inactive shares? Instead, look for shares that offer you an opportunity to gain at least 30% or more in only a few weeks. Usually, this means you must turn your attention away from certain shares you personally like and trade in shares that looks ready to move in a definite direction.

3. Learn How to Sell Short - To make the most money from share trading you must be ready and willing to sell shares "short". Short selling is the selling of shares that the seller doesn't own. More specifically, a short sale is the sale of a security that isn't owned by the seller, but that is promised to be delivered. In fact, you can make more money faster selling short than you can by going long.

4. Never Sell A New High - If the market keeps making new highs, there are good reasons for it. It's smarter to be "long", bet on shares rising, and go with the up trend than try to go "short", betting on shares falling, and fight against the trend. There's no way of knowing how high the market may move against you. Wait a few days for a definite indication of a reversal in trend. It might be several days or weeks.

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