Book Review: “How to Make Money in Intraday Trading” by Ashwani Gujral

Ashwani Gujral’s *How to Make Money in Intraday Trading* is a comprehensive guide for traders looking to master the art of intraday trading. Known for his expertise in technical analysis and trading strategies, Gujral provides a practical and actionable roadmap for both beginners and experienced traders. The book is a treasure trove of insights, strategies, and real-world examples that make it a must-read for anyone serious about making consistent profits in the stock market.

Overview of the Book
The book is structured to take readers through the fundamentals of intraday trading, gradually building up to advanced strategies. Gujral emphasizes the importance of discipline, risk management, and a systematic approach to trading. Unlike many other trading books that focus solely on theory, this book is grounded in practical advice, making it highly relatable for traders.

Key Takeaways

1. Understanding Intraday Trading
Gujral begins by explaining the basics of intraday trading, including its advantages and challenges. He highlights the importance of liquidity, volatility, and timing in intraday trading. For beginners, this section provides a solid foundation, while experienced traders can use it as a refresher.

2. Technical Analysis as a Core Tool
The book delves deep into technical analysis, which is the backbone of Gujral’s trading philosophy. He explains key concepts such as support and resistance, trendlines, moving averages, and candlestick patterns. What sets this book apart is Gujral’s ability to simplify complex concepts, making them accessible to readers of all skill levels.

3. Trading Strategies
Gujral shares several proven trading strategies that he has used successfully over the years. These include:
Breakout Trading: Identifying and trading breakouts from key levels.
Trend Following: Riding the momentum of strong trends.
Reversal Trading: Spotting potential reversals using candlestick patterns and indicators.
Range-Bound Trading: Profiting from sideways markets.

Each strategy is explained with clear examples and charts, making it easy for readers to understand and implement.

4. Risk Management
One of the standout features of the book is its emphasis on risk management. Gujral stresses that trading is not just about making profits but also about protecting capital. He provides practical tips on position sizing, stop-loss placement, and managing emotions during trades. This section is particularly valuable for traders who struggle with consistency.

5. Psychology of Trading
Gujral dedicates a significant portion of the book to the psychological aspects of trading. He discusses common pitfalls such as overtrading, revenge trading, and emotional decision-making. His advice on maintaining discipline and staying focused is invaluable for traders at all levels.

6. Real-World Examples
The book is filled with real-world examples and case studies that illustrate Gujral’s strategies in action. These examples help readers connect theory with practice and understand how to apply the concepts in live markets.

Strengths of the Book
1. Practical Approach: The book is highly practical, with actionable strategies that traders can implement immediately.
2. Clear and Concise: Gujral’s writing style is clear and straightforward, making complex concepts easy to grasp.
3. Focus on Discipline: The emphasis on discipline and risk management sets this book apart from others in the genre.
4. Real-World Relevance: The inclusion of real-world examples and case studies adds immense value.

Areas for Improvement
While the book is highly informative, it could benefit from:
 A more detailed discussion on fundamental analysis and its role in intraday trading.
Additional insights into algorithmic trading and the use of technology in modern trading.

Who Should Read This Book?
Beginners: The book provides a solid foundation in intraday trading and technical analysis.
Experienced Traders: Advanced strategies and risk management techniques offer valuable insights for seasoned traders.
Anyone Interested in Trading: The practical advice and real-world examples make it a useful resource for anyone looking to improve their trading skills.

Conclusion
How to Make Money in Intraday Trading by Ashwani Gujral is a must-read for anyone serious about mastering intraday trading. The book’s practical approach, clear explanations, and focus on discipline make it a valuable resource for traders of all levels. Whether you’re a beginner looking to learn the basics or an experienced trader seeking advanced strategies, this book has something to offer. By following Gujral’s advice and strategies, readers can develop the skills and mindset needed to succeed in the challenging world of intraday trading.