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7 Intraday Trading Tips that Almost Sure Your Double ROI

According to studies 80% of all day traders quit within the first two years. Among all day traders, nearly 40% day trade for only one month. Within three years, only 13% continued to day trade. After five years, only 7% remain. Did you know why? Because they don’t plan their trade according to the market news and diversified portfolio. But don’t worry after reading this article you can invest your capital in intraday and get double ROI for sure!

Tips To Helps Intraday Traders To Earn Double ROI

7 Intraday Trading Tips that Almost Sure Your Double ROI

Here are the 7 Intraday Trading Tips that Almost Sure Your Double ROI;

Choose Liquid Stock

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 exchange to execute these orders, there has to be enough liquidity in the market. Thus the first tip to intraday traders is to avoid small-cap and mid-cap stocks that may not be liquid enough. Which can give a profit in the short-term.

Always Set A Stop Loss

It is quite possible that the share you chose falls on the day you trade instead of rising. Therefore, it is important that you decide how low the stock can be allowed to fall before you square-off the 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.

Book Profit When Stock Price hits The Target

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. Avoid falling into the trap, where you hope that the price will keep rising (or falling, if you short-sell).

Read also: Never Miss This Stock For Investment In 2022

But, if there is good reason to believe that the price is likely to move in the right direction, then adjust the stop-loss accordingly. Looking around for intraday calls can be a good option before you decide to adjust the stop-loss.

Do Not Challenge The Market

It is near impossible to predict market movements. Often, you may find that all the factors indicate a bullish market. Looking at these, 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. If the market is not supporting a stock, sell it as soon as it hits your stop-loss level. Holding on it in the hopes that the market will see sense can increase your losses. Once again, an intraday trader cannot afford to think like an investor.

Research About The Script You Want To Buy/Sell Thoroughly

7 Intraday Trading Tips that Almost Sure Your Double ROI

Once you have identified a set of stocks by going through professional intraday calls, make sure to research them thoroughly. Find out when any corporate events are scheduled for. These include acquisitions, mergers, bonus issues, stock splits, and dividend payments among others. These could turn out to be as important as being up-to-date with the technical analysis and fundamental analysis.

Freeze The Entry And Exit Price Of The Script

Many stock investors and traders suffer from buyer’s fallacy. This is when the buyer immediately has a change of mind after purchase. The buyer suddenly feels that the selection was not as good as he/she believed at the time of purchase. As a result, they may make a wrong decision once they have bought a stock. All you need to do to avoid such mistakes is to freeze the entry and exit price of the stock. This ensures that you have an objective view.

Always Remember These Intraday Trading Rules

Market experts recommend a few basic intraday rules for individuals. For starters, they generally advise new traders to refrain from buying and selling stocks when the markets open for the day. That’s because company stocks are usually volatile in the first hour of the day.

Read also: Secrets That Multi-millionaire Use to Invest in Stocks

Secondly, experts feel that new traders should invest in small amounts to test the waters. In order to beat the volatility of stock markets, it is also handy to have a predetermined intraday trading strategy and stick to it.

It is also important to close all open positions. Intraday traders often fail to do so due to fear of booking a loss.
However, it is generally a sound decision to go ahead and close the position even if the target is not achieved.

Into The NutShell

Intraday trading is good enough to gain double profit within a day, but you must plan a trade according to market buzz, technical & fundamental analysis and tips we discuss above. So, invest care freely by following the tips.

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