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Strategy
Follow these simple free intraday tips to place better trades:
Intraday traders experience higher volatility than long-term investors. However, with the right knowledge, you can
make the most of your intraday trading money.
Many seek trading tips for intraday to improve their chances of success. However, we suggest opting for intraday
recommendations, not trading tips for intraday. That’s because what you need is a strong strategy, not merely tips for
intraday trading.
Here are some free intraday trading tips for today for a successful intraday trading tomorrow
Further, avoid investing all your trading money in a single stock. Experts recommend di-versifying your intraday
positions across a handful of stocks. This can help balance your intraday trade strategy and minimize your risk.
If you are beginner, it is ideal to adopt the basic 3:1 reward to risk ratio strategy. What this means is that the stop loss
price — the price at which you are ready to exit if you are making losses — should be three times lower than the exit
price — the price at which you are willing to book profit.
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.
A stock’s resistance level is a handy indicator too. Buying a stock when it breaks its re-sistance levels and moves
upwards is usually a good time to pick stocks.
However, if a trader feels that a particular stock price has potential to increase further, it is important to readjust the
stop-loss option and reduce the risk factor to a certain extent.
Another strategy is to look for stocks that are not in the spotlight. That’s because the price of the stock would reduce
when the demand is lower. Intraday traders should go through historical data and research reports to gauge the
demand for a particular stock. If you find that the demand is high, stock prices would be higher in most cases. This is
when you can choose to refrain from buying that stock.