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How can someone become a fulltime professional stock market trader

Tips to become a fulltime successful professional stock market trader

Becoming a full time trader is easy, but becoming a "successful" full time trader takes work. First, make sure that you have a broker who does not charges too much brokerage. Fortunately, we got discount brokers like Upstox and Zerodha these days in India. Once you have setup your trading account with a broker like that, then its time to find a trading setup that works for you. Your broker is also providing a trading setup to you, but sometimes, that's just not enough. I use the trading setup at http://BullKhan.com The benefit is that they show me Entry and Exit points for a intraday trade pick, stock picked based on a particular strategy, and all important information is available on the screen itself, so no clicking this that too much. Next you would bneed strategies. Strategies based on which you will take your trades. You cannot depend on TV channel news to find stocks to trade in, generally these are delayed. News channels might be covering something else, and will wait for that program to end before they show you stocks which started showing action. Your trading setup must show you stocks which suddenly got a spike. For me, this is covered by my setup at BullKhan.com Other than just NEWS, you must also have 3-4 strategies in place, based on which you can trade. For example, stocks bouncing off an important moving average. After this, the most important thing. Minimizing your loss, and maximizing your profits! Nobody can be right all the time in markets. Sometimes trades will go bad. You might have to cut your loss, so be prepared for this. Most people are not prepared for this, so they sit on the loss making trade, hoping things will become good, but they never do. This is why use a strict stoploss, just in case the trade is going bad. For example, if your strategy is to trade in stocks which are bouncing off a moving average, then use the moving average as stoploss point. If stock slips below the moving average, then the trade has gone bad, and its time to cut losses. Never ever average your intraday trade. 90% times this will prove to be a bigger mistake than entering in the stock. Like I said, if trade is going bad, cut your loss. Likewise, if a trade is going good, then do not be too quick to book profits. Sit on the profit making trades. Obviously, learning technical analysis will help you in understanding all this better. I'd recommend this book to learn some deep tricks of trading: https://MunafaSutra.com/page/ebook The book also has about 15 intraday strategies which you can start using immediately. Remember, to be a professional trader, you do not have to trade everyday. Trade when things are fitting your strategies. Watch the market everyday, but trade when the time is right!