How to make Rs 5000 per day while trading stocks!

It may look like a humongous task for a beginner, but if you know the right steps, making Rs 5000 every day while trading stocks isn’t that much difficult. Contrary to what people believe, automated trading isn’t gambling; instead, it requires deep logic and proper strategies. By using computers to replace human lacunae, automated trading makes trading easy and increases the probability of making high profits while reducing losses. Unlike humans, computers do not feel emotions like greed and fear and based upon the algo trading strategies, they make logical decisions – which end up earning you a lot of profit.
Without any further ado, let us take a look at some of the steps that you can take to ensure that you earn Rs 5000 a day while trading stocks.

#1 Go for liquid stocks
When trading in the stock market with the help of intraday trading strategies, it is very important to select liquid stocks. The reason is that they are always in demand and people are always lining up to buy them. This is great because when you’re doing intraday trading, you want to be able to sell your stocks by the end of the day.

#2 Put a stop loss
Stop loss is a great strategy for reducing the amount of losses incurred on the stock market. Stop loss is the level beyond which the trader should not hold the security and exit by booking loss. By implementing this technique, you can keep your emotions in check. Stop loss would be especially beneficial for you if you’re looking forward to indulging in short-selling.

#3 Booking Profits
Just like fear, greed is also a very dangerous emotion in the stock market. So when you have the opportunity to make profits, you should book them instead of waiting for the prices to increase even more. The stock market is very volatile and sentiment shifts every minute. Therefore, a promising stock may become a liability before you know it. So book your profits in a timely manner and accrue profits by doing a large number of trades – which is pretty easy with the help of algo trading strategies.
#4 Decide the Entry and Exit Points
If you wish to book profits and avoid losses, you must know when to enter and exit a trade. Therefore, you must determine the entry and exit points with regards to every trade. You can identify these points looking at the day high and day low.

#5 Find a solid backtested strategy
Working with solid algo trading strategies is the key to earning profits in the stock market. If you work with discipline and use well-tested workable strategies that provide at least 60% efficiency, then you would stand a chance to double your investments within a year!

#6 Do not move against the trend
Swimmers that try swimming upstream in a raging rapid end up drowning. Same can be said for the stock market traders. Going against the trend will do you more harm than good and therefore, you should avoid it at all costs. For example, if the market seems to be in a in bullish trend, your best bet would be to take position in the stock, and hope for an upward movement.