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Best Intraday tools for commodity trading March 15 2021Best Intraday tools for commodity trading

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If you are an Intraday trader, using Intraday trading tools can make your life pretty easy. Although you must be having some questions in your mind before using tools for trading.

What is Intraday trading ?

Intraday trading is a challenging stream which involves buying and selling of securities during the trading hours on the same day. The intention for such trade is not with an intention to make investment but is to harvest profits due to fluctuations in the market throughout the day. Consistency, patience and accurate knowledge is required in the market and ongoing trends. Intraday trade in commodity market is volatile thus, the traders have to operate with high risk.  A trader can use available tools in order to take an informed and profitable decision. 

Below are some Intraday trading tools.  

Trading Platforms.

A trader can use trading platforms in order to trade in commodities without any hassles. Multiple software’s and platforms are available for Intraday commodity trading. Some of those tools are considered to be a part of TT (Trading technologies). Trading platforms provide in depth information about the volume of trade, price of trade, bid offer range etc.

A personalized portfolio and risk profile is created by the trading platform based on the trader’s risk appetite, net worth, investment objective etc. It helps in deriving fundamental and technical analysis which in turn helps the trader to execute commodity trades.  Indira securities is one of the best trading platforms to trade in commodity market. 

How To Trade Opening Range Breakout (ORB)

Opening Range Breakout is a common trading method among both professional and amateur traders, and it has the potential to offer high accuracy when used properly with indicators, strict rules, and a clear understanding of the overall market mood. Only intraday trading is possible with this system.

Traders all over the world use ORB trading in a number of ways. Some traders wait for a substantial breakout from the opening range before trading, while others sell right away. The trades'''' time window ranges from 30 minutes to 3 hours.


Charts For Stock Market

Intraday traders often use charts to understand the movement in the market as charts has proven to be one of the best Intraday trading tools. By providing historical data and price movements, Charts help in intraday technical analysis.

The charts can be adjusted to any time frame a trader wants to invest in.- 5 mins, 15 mins, hourly, daily or any time frame thereafter. The ability to read the charts effectively is a very important skill for Intraday traders to book profits and be successful.

Charts provide detailed information about opening price, closing price, high and low of securities at a defined time frame.

Technical Indicators For Intraday Trading

In order to get more deeper and useful knowledge, technical indicators are used in conjunction with charts. By looking at the past patterns, the indicator predicts the future prices and price directions.

Technical indicators do not look at the fundamentals and analyze only short-term price fluctuations, thus they are majorly used only for short-term or Intraday trading.

Technical indicators such as Moving averages, Bollinger bands, On balance volume, Relative strength index (RSI) etc. can be used.

Scalping Stock Trading

Scalping is a practice wherein profits are made from minor fluctuations in prices.

A scalper books minor profits with the help of small changes in the price and exits the trade before any loss can negate the existing profits. One can make small amount of profits per trade and increase the number of successful trade which accumulates to a good amount of profits.

Scalping is considered to be one of the profitable commodity trading strategies, interacting with the market for a very limited time, it eliminates the risk of any adverse fluctuations.  

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1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.

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3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

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"As per the directives of CDSL and esteemed Exchanges, it has been made mandatory for every client to furnish their latest KYC details viz. Valid Mobile No., Email- Id & Income range on or before 31.05.2021 else your Account will be marked as Non Compliant and will be Freezed till the compliance of such requirement."
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