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Is Intraday Trading Profitable? Know All the Strategies

Intraday trading can certainly be profitable, but first you need to learn the basics. Intraday trading is different from typical stocks investment, as buy and sell transactions are settled on the same trading day. In intraday trading, stocks are not transferred to your account. You make intraday profit via the fluctuations in share prices that occur on any trading day.

For example, if you buy 100 shares of ABC Limited at Rs 1000 per share and sell it later in the day at Rs 1100 per share, you will make an instant intraday profit of Rs 100 per share or total profit of Rs 10,000. However, there’s a lot more to intraday trading than this simple math can demonstrate. Here’s a quick guide with all the strategies that will help you succeed in intraday trading.


Intraday trading platform

You will need an intraday trading platform, which can be a web based system, a desktop app or a mobile app. Intraday trading platforms such as Angel Broking Demat Account & Stock Trading App are preferred, as you can access it anytime, anywhere. Once you have downloaded and installed the Angel Broking app, you need to carry out the basic setup such as linking your demat and trading account and entering other details such as Aadhar card, bank account number, mobile phone, etc. Setup usually takes just a few minutes and is pretty easy to follow.

Research

If you are new to intraday trading, it’s recommended that you do some research initially. You can follow some stocks in the Angel Broking app watchlist for a few days to understand their movement. You can also read related news and company / industry updates to understand their relationship with the stock prices. This may take some time, but eventually you will get a hang of it. When you start to feel comfortable in forecasting the movement of share prices, you can begin intraday trading.

How to trade in intraday

If you want to know how to trade in intraday, you need to be aware that Angel Broking share trading app has made intraday trading a lot easier for users. It comes with an intuitive interface and most steps are easily understandable. For intraday trading, users need to select the stock, click on buy, and enter other details such as quantity of shares to buy, order type, validity, product type, disclosed quantity, etc. The process will be largely the same for ‘Sell’ orders.

Stop loss

Stop loss is essentially an advance order wherein the transaction is executed when the share price reaches a predetermined price point. As share prices are known to fluctuate, stop loss option provides an effective way to limit your losses. Stop loss can also be used for retaining your gains. You can add the stop loss amount at the time of placing your buy or sell order.

How to maximize intraday profits

To succeed at intraday trading, you need to research, be disciplined and follow some basic rules. Here are some important tips that will help you maximize intraday profits.

  • Choose stocks with large volumes and continuous change in prices. This will ensure that you can buy/sell these anytime you want and profit from the price fluctuations.
  • Make it a point to go through technical charts, indicators and news updates, all of which will provide a better idea about the price movement of a particular stock.
  • You need to choose the right broker such as Angel Broking that can provide you with good quality indicators, tips, and tools for intraday trading.
  • For intraday trading, you need to commit an amount that you can afford to lose. You should avoid using your savings in intraday trading, as there can be losses. Intraday trading is a high risk, high profit game, so commit funds as per your available finances.

In intraday trading, you need to have patience and self-control. If you suffer losses on any day, you need to remember that you can recover those in future trading sessions. You should also avoid getting over ambitious in case you book huge profits on any day. Stick to the profitability targets you have in mind and trade accordingly. Utilizing these tips and strategies will allow you to achieve the best outcomes from intraday trading.

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