TOP INTRADAY TRADING TIPS AND STRATEGIES

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Intraday trading, also known as day trading, is about buying and selling shares on the same day to book profits. In this market order, you don’t plan to take delivery of shares.
Here are some trade free plan tips for today for a successful intraday trading Strategy.

CHOOSE LIQUID STOCKS
As you know by now, intraday trading involves buying and selling a set of shares on the same day before market closing, i.e., squaring off open positions. However, for the stock-exchange to execute these orders, there must be enough liquidity in the market.Thus the first tip of the free intraday tips for today is to avoid small-cap and mid-cap stocks that may not be liquid enough. Otherwise, there is a high probability that your squaring off order may not get executed, forcing you to take delivery in-stead. Liquidity is the most important criteria you must check before selecting a particular stock to trade in.Stocks with high liquidity trade at huge volumes which allows intraday traders to buy or sell larger quantities at ease.
FREEZE THE ENTRY & EXIT PRICE
Many stock investors and traders suffer from buyer’s fallacy. They fall prey to misleading notions. This is when the buyer immediately starts having second thoughts and starts doubting their play. The trader suddenly feels that the stock selection was not as good as s/he believed while entering the trade position.To avoid making such trading mistakes, all you need to do is follow the second free intraday tip – To decide the entry and exit price before taking a position. This ensures that you have an objective view.
ALWAYS SET A STOP-LOSS LEVEL
When you invest in a share, the share price can either go up or down. It is quite possible that the share you purchase and take a long position in falls on the day you trade instead of rising.Therefore, it is important that you decide how much loss are you ready to bear if the trade goes against your position. This acts as a safety net and helps minimize your losses. Most experts would suggest this is the most important tip for intraday trading you’ll ever get. Hence the third free intraday tip is to research intraday calls, which are buy and sell recommendations, and set a stop-loss level.
A stop-loss will help you manage your risk and must be followed by all traders. As the name suggests, it helps you stop your losses.

BOOK PROFIT WHEN THE TARGET REACHED
Greed is every intraday trader’s enemy. Why, you may ask? It is because it only takes few minutes for the market to switch sides, especially if the market is too volatile.The secret to successful intraday trading lies in the high leverage and margins that traders enjoy. Leverage and margins help amplify profits (as well as losses). But the trick lies in not getting greedy once that target is reached. Don’t wait for the stock price to increase further if it has reached your target price.
Avoid falling into the trap, where you feel that the price will keep rising (or falling, if you short-sell). You must make trade decisions based on facts and strategies and not on how you feel a stock will perform.

ALWAYS CLOSE ALL YOUR OPEN POSTIONS
The fifth free intraday tip for today is to always close all your open positions. Many intraday traders choose to take delivery of the shares if the stock price target they set at the start of the day isn’t met.This may not be a good strategy. After all, the stocks were bought for intraday trading basis market trends and technical analysis of the stock movements. They may not be good enough for a long-term investment.Imagine what would happen if a leading company declares bankruptcy post market closing and the stock opens with a gap down the following day. Investors holding the stock at the end of the day might not get a chance to exit their position and would thus have to take a hit on their portfolio.

DO NOT CHALLENGE THE MARKET
It is near to impossible to predict market movements. Often, you may find that all the factors are indicating towards a bullish market. As usual, you may expect your target stock to rise. But, the market decides to disagree and the stock price does not rise.Bottom line: Do not get married to your analysis. Fluctuation is the very nature of the stock market. If the market is not supporting your analysis, sell and exit your position as soon as it hits your stop-loss level. Holding on to the hopes that the market will act as you predicted it to can increase your losses.