Top Share Trading Tips for Success by Dhanashri Academy

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Top Share Trading Tips for Successful Traders
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"Everybody wants to be rich", and you can become
rich if you follow these share trading tips. But,
if you don't follow these share trading tips,
you'll probably end up broke. Also, If you ever
lose money on a trade, make sure you understand
why. Re-read these share trading tips and figure
out how many of these share trading tips were
ignored.
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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.
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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.
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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.
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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.
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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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Never Buy A New Low
If the market keeps making new lows, there are
good reasons for it. It's smarter to be "short",
bet on shares falling, and go with the down trend
than try to go "long", betting on shares rising,
and fight against the trend. There's no way of
knowing how low 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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Trade Only with Funds You can Afford to Lose
If you can't afford to lose whatever money you
have, you will find it almost impossible to win.
The reason is you won't be able to follow the
tips given in this article. And, if you fail to
follow these tips, you probably won't make any
profits.
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Cut Your Losses and Let Your Profits Grow
This is the most important tip. It's also the
hardest to follow. But you must embrace this tip
or you'll never become rich from trading. Few
traders have the discipline to take small losses.
If you are one of the few who can do this, you
have a very good chance of becoming an elite
trader. When most traders make a trade, they
believe they're correct. If the market moves
against them, they stubbornly hold on.
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Cut Your Losses and Let Your Profits Grow
They hate to admit they're wrong. Even when their
loss grows larger, they refuse to take that loss
and get out. They hope the market will turn
around soon and prove them correct or at least
move back to reduce their losses. But, more times
than not, the market does not return to that
level. When you place your order to buy or sell
"short", you'll usually know whether you are
right or wrong before the week is over. If you
are wrong and the trade you made shows a loss of
20 or more, you should get out before the close
of the market that day. Taking such a loss takes
a lot of courage.
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