What are intraday trading tips for beginners?

Intraday trading, as the name suggests, applies to trade systems where you must square-off your trading on the same day. Squaring off trading means that you must transact or sell and sell on the same day before closing the market. Intraday trading is also related to day trading by many traders.

Let us present an example of intraday trading.

Suppose you bought 100 limited ABC stocks during open market hours, then you got to sell the same number of limited ABC stocks until the market closed. This is also the case if you have sold the stock; you have got to buy the same amount of stock you have previously sold.

If you are a beginner, how do you start trading? - Tips of beginners

One of the best advices I can give you is, Do it, paper trading is just nonsense. I do not believe it. If you want to discover, you have to do it.

·       Start with a small amount first.

·       Avoid feelings like fear and greed.

·       Don't be afraid of anyone's losses and don't be aggressive because an expert trader made some money.

·       Always pay attention to what is in your position now; go slowly, do not be greedy.

·       If you cannot control your emotions, please do not trade, then you will be in big trouble. 

·       Think unconventionally; don't get involved in the rat race.

·       Do not put a stop loss on the support and resistance.

·       Do not try to find the top and bottom of the market and it is better to go with the flow to find what you want, then escape faster.

·       I would not suggest you read books on trading, as it is about practical knowledge. You can refer to YouTube videos. Real online blog.

·       Did not get into trading with the intention of becoming rich overnight, I am very sorry that this will not happen here, you need a lot of decisiveness and efforts.

·       In online trading platforms, when you are doing an intraday transaction, you have to specify an intraday transaction when placing an order. Whenever in case of a purchase transaction, you have the option to convert it to delivery. Later before the market closes.

·       Most online trading platforms purchased under intraday trading are automatically closed in most online trading platforms if you do not complete them before the market closes.

Why many traders find intraday trading attractive?

Brokerage charges of stocks traded under the day trading segment are much lower than the delivery segment.

High margin is available for day trading (for example, if you have Rs.5000 in your account, multiple transactions of this amount are allowed. This ratio varies according to the policy of the brokerage company. Many brokerage companies Allow up to 10 times the margin)

They do not want to move their positions overnight because some other event may affect the stock price and open with a gap up or gap down the next day.