After knowing how things work, people have started showing interest in day trading, aka Intraday. Today, people are making profits from intraday.
Essential market knowledge, proper strategy, and discipline are required to earn sufficient monthly income from Intraday trading.
But, when it comes To Earning Rs. 1,00,000 Monthly from Intraday Trading, you have to seriously plan your strategies. Without experience and handheld knowledge, you can’t reach the goal amount.
That’s why most investors trust the best telegram channels for intraday trading. These telegram groups are run by professional stock traders and investors and packed with stock market knowledge and strategies.
These experts recommend the best stocks, share analysis, news, trends, and other valuable information related to the market. This data helps traders to make quick decisions and earn money from intraday.
Moreover, all the 7 steps covered in this blog are the result of the advanced knowledge of these professionals who handles the Best Telegram Channels for Intraday Trading.
7 Steps To Earn Rs. 1,00,000 Monthly from Intraday Trading
Remember, intraday trading requires skills, knowledge, and patience to earn. Furthermore, strong psychology and controlling your greed are also equally needed.
You can lose all your investments without quick decision-making and risk management ability. Therefore, if you’re a beginner, we always recommend joining the best telegram channels for intraday trading.
Now, let’s understand the 7 crucial steps that will help you achieve your goal of earning Rs. 1,00,000 Monthly from Intraday Trading.
Step -1 Stock Selection
You must generate the daily profit you planned with proper stock selection. That’s why experts suggest investing only in high-volume and medium-volatility stocks. High liquidity or volume indicates there are more active buyers and sellers.
On the other hand, volatility manages the risk of losing money. Make 8-10 stock lists before your investing day.
Before the opening of the market, check the volume and volatility to ensure the final investment. Few additional points to remember:
- Try to pick stocks that move 2% from the previous days
- Pick bullish and bearish stocks based on the sectors market view
- Pick your stocks according to your strategy: breakout, momentum, and reverse
Step – 2 Plan Your Trading
Earning Rs. 1,00,000 Monthly from Intraday Trading needs a solid plan. Share market closes on weekends and festivals. On average, an investor gets 20 days for intraday trading. Suppose you take 5 traders daily and have 90% accuracy. It means you should earn Rs. 1000 from each trade in a day. That’s how you can earn Rs. 1,00,000 monthly from intraday.
Step -3 Execution
For Rs. 1,00,000 Monthly from Intraday Trading, you have to earn Rs. 3334 per day. Check out the following strategy often shared by Intraday trading telegram channel for their followers:
- If you trade in equity, go to the NSE website at 9 am and check out the index
- List out a few stocks and go to your trading account
- Suppose you find axis bank stock is the top gainer and has a bullish market view
- Post opening wait for 5 minutes; if the stock response is positive, start trading
- Buy 1500 Axis bank shares and wait to increase the price to Rs. 2
- That’s how you can earn Rs. 3000 from a single stock
Step 4 – Follow the Market Trend
Joining the best telegram channels for intraday trading is the easiest way to follow market trends. These groups regularly share trending stocks, news, chart analysis, and market movement. You can collect the information and evaluate the present market condition. Follow the tips for the market trend.
- Track the stock movement for at least 15 days before going long with a single stock
- Try to enter in breakouts to grab more than 2% profit in a day
- Avoid trading on news stocks that most likely move unexpectedly
- Apply Moving Average and RSI indicators to conclude the current stock trend
Step – 5 Always Apply Stop loss
Stop loss helps to cut down losses in intraday trading. When you plan to reach Rs. 1,00,000 Monthly income, note down a few things. For momentum, bullish and bearish candles will give you accurate investment points.
Step – 6 Psychology
In intraday, the strategy requirement is 30%, but psychology and discipline are 70%. Controlling your greed, avoiding revenge trading (desire to recover losses), breaking risk management, etc., should follow for daily profit. So be realistic on your approach.
- Never take more than 3% daily loss on your total capital
- Cut down big losses from your plan
- Try to set auto exit on your target
The psychology of trading can be understood well by joining an intraday trading telegram group.
Step – 7 Fix Your Entry and Exit Points
Fixed entry and exit points are the two main pillars of intraday. So draw your price action and always wait for the right entry. If you trade in breakouts, wait for the price correction. Make profits every day, but with good psychology, you can earn big at the end of the month.
Intraday Trading is the most profitable and riskiest business in the stock market. However, you can make Rs. 1,00,000 monthly from intraday trading by following all the 7 steps mentioned above. Moreover, we suggest you join a popular and best intraday trading telegram channel to reach this target quickly. So go and start making big bucks from this stock market trading.