How to Make 2x Money in Intraday Trading?

Published : 2 May 2023

You can minimize your losses during intraday trading by establishing a stop-loss with your broker.

1. Use of Stop-loss 

● Follow the movement of the larger market as you develop your trading strategy. ● You can enter stocks during an uptrend and exit them based on your judgment. ● But if it is bearish, you must hold off on making trades until the stock begins recovering its prior highs.

2. Follow the trend 

It is beneficial in intraday trading to select stocks that move together with the market because this makes it easier to anticipate their price fluctuations. 

3. Selection of stocks 

You have two options: wait until the stock's upward momentum is complete or sell with the profit from its initial but significant rise.

4. Entry and Exit Prices 

Liquid stocks make it simpler for the investor to trade without volume restrictions since intraday trading involves buying and selling within a single day.

5. Prefer liquid stocks 

To better understand how stocks behave in relation to the larger market, the sectors they belong to, etc., do enough background research on the various stocks you are interested in trading in and narrow them down. 

6. Research 

You must keep an eye out as an intraday trader to determine whether the stock you own is rising or falling.

7. Regular monitoring 

Your enter and exit decisions should be based on your research rather than just following other investors when they buy or sell positions in particular stocks.

8. Stay away from herd mentality 

Never deviate from market sentiment, and book profits when it is appropriate. 

9. Objective approach 

Charts are important tools for an intraday trader's technical analysis. Charts help you to plan a trade and note the breakout points, levels of support and resistance, trading volume, and other important information.

10. Charts