Intraday Trading is also known as “Day Trading”
If you are a beginner in the stock market then the best thing you need to know is you should take the proper and complete information about the intraday trading with the benefits and risk associated with this.
For intraday trading, you need to a lot of practice, focus and strategy that will be able you make a correct decision for trading in intraday. And you also need to know the intraday trading tips.
For the selection of the best shares for intraday trading, you need to look out for the pointers that are mentioned below:
- Price Action
- Do proper Analysis and research in the particular stock
- Choose stock with larger volume
- Analysis of the momentum of the stock price
- Use the stop loss while punching the trade
- Try to do analysis and interpret the Candlesticks momentum
- Choose your risk per trade
This above is the criteria for selecting the stocks in the intraday trading.
In intraday trading, the brokerage firm offers margins to buy the stocks at cheap prices but always take the leverage that can be paid later by you if in case you lose in the trading.
Try to manage your risk, as in intraday trading it is riskier than the delivery trading.
Don’t try to trade on a daily basis but do the trading when it fits in your set-up.
Don’t try to do trading in many of the stocks but just select best share to buy for intraday.
For intraday trading, you can do the trading through the NSE or BSE website that will be worthwhile while you use the liquidity, volumes, analysis on stock price momentum as this would be helpful for the selection of the stocks.
Set up a plan and a habit for doing intraday trading and follow the routine with more discipline.