One of the Best Intraday Tips is to follow a systematic trading plan. To be successful, you should establish a strategy, ideally your own. Alternatively, you can use a pre-made strategy. Regardless of the strategy you choose, you must always remember to stick to it. Many traders switch from good strategies after just one or two trading sessions, so you need to be consistent in your trades.
Traders should start small and trade with a small amount. It is important to diversify your capital, so you can lose less than you invest. The best thing to do is to trade small amounts of money a few times every day. If you are a beginner, it is advisable to purchase stocks after 11 am and sell them before 1 pm. It is best to invest only 2% of your total trading capital in a single trade.
You should know your stop loss and always make your trades according to your strategy. This way, you can easily adjust your stop loss if the price of the stock goes down. In addition, you should be patient and never challenge the market. This will help you make more money and avoid unnecessary losses. However, it is important to be realistic with your expectations, as the stock market fluctuates all the time.
Another important rule of day trading is to only trade stocks that have high liquidity. This is because illiquid counters can cause problems with intraday positions. It is better to make intraday calls and derivative technical trades on stocks that are sufficiently liquid. In addition to this, the Best Intraday Tips for today should focus on stocks with medium to high volatility, as low-volatility stocks are not a good choice for intraday trading strategies.