Manage monetary resources
Most day traders fail due to their inability to properly manage their finances. It is a common
practice for day traders to allocate a specific amount of money and then have a loan on the
entire margin. By doing so, some day traders lose a good sum of money instead of gaining
them.
It is not all about giving out money; it is about winning by thinking. If you observe that the market
fall short of meeting your chances of gaining profit, then it is time to think fast of strategies to
prevent losses.
Sell short-term stock
It is recommended that if you have short-term stock which suffers for ten uninterrupted trading
days it is best to sell it. This is done to prevent tying weak stocks to your capital. By doing so,
you will avoid any pitfalls over your capital.
If you have stocks which are likely to hurl for over 25 % on the first three trading days, it is wise
to sell one-half of it. According to market trend studies, if you sell any stock which hurls 25 % or
further during the first three days, you are more likely to gain profit.
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