Do not expect to become an expert trader right away, it takes lots of effort, time and practice to become one. Before stepping in to full real time trading better try some practice session. Technical analysis and fundamental analysis is required before you step in. This will get you started. Books on trading is also available in the market. If you are planning to invest first thing is to categorize ourself. Are you a long term investor or short term (Intraday) investor. Day trading is risky and its where we play not invest. Long term investment, It’s here we invest. We are most secured in this case because we don’t consider money invested to be used for emergency. Any company will one day have a growth curve. Even a sick company value can be raised by psychological factors of investors.
If you are interested in day trading, eliminate the fear of losing, always use stop orders, never bring emotions here it often works against you, stick to your decisions, if the market aren't performing the way you thought better get out of it that day, Patience, determination, do not expect to win everyday what matters is the total profit, be flexible, remember each strategies suits different days and different stocks, fast execution is a must for day traders.
Fix a risk capital yourself, divide your risk capital and never over trade. Trading more than your risk capital may take all your profits away. Traders usually make mistakes by over trading when they have a series of successful trades. Always withdraw a portion of the profit and trade with the balance. If you believe that you are a smart trader when you have a series of success then you are hundred percent wrong.
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