Best Intraday Trading Tips To Grow Your Account

Beginner and advanced Traders alike seek to maximize their day to day profits.

These Best intraday trading Tips will help you increase your gains while minimizing losses.

You will be able to apply them successfully into your existing trading strategies.

What Is Intraday Trading

Intraday Trading designates the time between the open and the closing of the market.

For US equities markets, intraday trading takes place from 930AM Eastern to 4pm Eastern for stocks.

MAjor ETFs such as SPY, QQQ or IWM allow for an extra 15 minutes of trading up to 415PM Eastern time.

That could be considered intraday trading hours.

The concept of intraday trading can be used in lieu of day trading.

When used in this context, it refers to a trade that the trader intends to close before the end of the closing session.

Why Is Intraday Trading Appealing ?

Stocks generally do not close at the highs or low of the day.

This means that a bullish stock can reach a very high value in intraday trading yet close well below that high calue.

Conversely, a bearish stock can reach a very low value in intraday session and find buyers towards the end of the day.

What this creates in an opportunity for traders to reach high levels of profit intrady day.

That is not the only advantage.

The other advantage is that by taking profit intraday, traders can benefit from a lower entry price the next day.

This is particularly frequent in options trading because the Theta decay will reduce the price of the options for each day that passes by.

Who should Consider Intraday Trading ?

The previous chart depicts a good example of Intraday price movement.

There was a $4 difference between the Intraday High on FeDEx stock and its closing price.

In most stock report, the recorded price is the price at the end of the day.

Thus it does not always capture the intraday highs and lows.

These variations provides a great deal of opportunities to day traders to can take advantage through stock trading or options trading.

Therefore, Intraday trading is mostly for day traders who can maximize their gains

You should know that you may be limited in a number of day trades you can execute based on the size of your account.

How To Overcome Pattern Day Trader In Small Account

FINRA has a Day Trader Pattern rule that prohibit any account with less than $25000 form executing more than 3 day trades in a 5 day window.

This can become very restrictive for some samll account traders.

How so ?

Imagine you are making a great profit on a trade but unfortunately you ran out of day trades.

Remember, you are only entitled to 3 such trades in a 5 consecutive days.

Well, most traders will not be able to cose that position and record profit.

Just to come the next day and see the profits completely wiped out because the stock has moved in the opposite direction.

There is a fix for this problem.

Call you broker and transform your account from Margin account to Cash Only account.

How To Avoid Losses in Intraday Trading

It is a well known fact that the most successful traders have mastered the art of minimizing their losses.

Contrary to popular belief, great traders often take a lot of losses.

However, those losses are small enough so that they do not impact to stay in the game.

Half of the battle of retail traders with small account is having enough money to trade the next day, the next week or the next month.

This is the main reason reason why only a small percentage of traders make it to consistently genrating profit.

Let’s examine below some intraday trading tips to help you reduce the impact of your losses.

Intraday Trading Tip # 1 | Respect the Intraday Trading Clock

Intraday trading is full with misdirections.

This means that stocks often can “fake” going into one direction and then reverse to go the opporsite direction.

How can traders keep up with such violent moves ?

Solution # 1.

What follows so important for beginner traders.

Allow me to introduce the concept of the trading clock.

These are intraday trading windows during which the market as a whole provides opportunities to make and lose money.

I am not suggesting that every single one of the 7000+ stocks follows this intraday trading clock each day.

However, based on my observations, most stocks have the proclivity to move according to the above table.

From the opening bell in new York at 930AM Eastern time to 11AM-11:35 am EST is the best window of opportunities to make money.

Most stock will move in this first intraday window according to the momentum generated by the thug of war between the bulls and the bears.

Dax Closing In Germany is Bullish

The 11:35AM is not just a random time incase you may be wondering.

That is the exact closing time of the German market in Europe.

It has been my observation that the last 35 Intraday trading minutes of the DAX (German main index) is often bullish and thus SPY tends to trade bullishly as well during this span.

Sideways Intraday Trading window

You do not want to get caught in an option position while the underlying stock is moving sideways.

Such is often the case between 11:35am and 2:30PM.

Hence, you will need to be aware of this and reduce the amount of contracts you are holding or simply get out of the trade.

The last 90 mins of intraday trading is favorable to setup up overnight trades or some good scalping strategies for end of the day momentum.

Solution #2

Be patient before entering your position.

This means you have to wait for confirmation on the direction of the stock.

There is nothing more deflating in options trading (and stocks for that matter) than to rush in a position just to see it turn red immediately.

The best way to apply this intraday trading tip is to set up alert.

I use TradingView for my chart study in pre-market or overnight.

The outcome of your study should provide a price level above which your are going to take a bullish trade and below which you re going to trade a bearish position.

How To Maximize Gains In Intraday

After you have mastered how to minimize your losses, the next step is to apply yourself into maximizing your gains.

For that, the best practice you will adopt is the trailing stop .

In a few words, when you are making money on a position, the trailing stop enables you to track your profit and only allow a small percentage of it to go away once it is acquired.

That is where the word “trailing” comes from.

The video below explains step-by-step how to setup your trailing stop on E*TRADE platform.

Scaled Exit Technique

You can make usage of the trailing stop to implement the scaled Exit technique.

This means that you do not close all your contracts (or shares) at once.

Rather, you can setup (in advance ) to take partial profit at a predefined profit level.

Below is a suggested setup I use in my Coaching sessions.

Stay Disciplined and Respect your Stop Loss

Above all, they key into intraday trading success is to prepare your trades with a plan.

Then stick to that plan.

Do not get distracted by the noise the market throws at you in the form of social media banter and/or pundit rhetoric on the television.

Stay disciplined by respecting your stop loss.

It is okay to get out of a trade quickly when it goes against you.

You can always re-assess if situation changes intraday later.

I cannot emphasize enough that beginner traders need to focus on saving their buying power.

Because Staying alive to fight another day is already a success by itself even though it does not immediately translate to monetary gain.

Bonus Tip

Learn How to Use the Option stock Chart to improve your entries.

During intraday consolidation, use the Lowest price of the consolidation range as your Limit Entry.

What Are Good Some Intraday Trading Strategies

The best intraday trading session is to scalp by riding a the short term trend of a stock.

Scalping can be very profitable intraday for options traders because the duration of the trade is short enough for time decay not to be a factor.

You can get in on a trade with the predefined objective to get X% profit and then immediately close your trade once your goal is reached.

In Options trading, X% can sometimes be a very big number, 50%, 100%, 200% or even more.

Some recent meme stocks are notorious for intraday rallies.

In case you may not have been following the recent short Squezze Saga, here are some of the most famous mem stocks:

Aside from those exceptional trending stocks, here are very reliable technical setups that you can use to take advantage of intraday trading strategies.

Stock setting Brand New High of the Day

The intraday new high of the day is a good entry for a bullish trade.

One reason for this is that such stock will attract new traders who want to buy it.

It is commonly known in the trading community as F.O.M.O or Fear of Missing Out.

In order to avoid false positive, I use the 15 minute chart to ensure confirmation on such breakout bullish setup.

Here is at he perfect illustration on NVDA recent chart where this strategies worked perfectly on multiple days.

This example brings up a good Intraday trading Tips I often successfully use.

Stocks tends to repeat intraday patterns.

This means that if on Monday or Tuesday you identify an intraday pattern on a chart, look for it to repeat the next day.

This is the easiest way to forecast short term trends and profit from them.

Stock putting in New Low of the Day

Similar to the new high of the day, the intraday new low of the day is a good tip you can apply as well.

This time on the bearish side.

When a stock is going down, it often does it at a faster speed that when it is going up.

For options traders, time is of great importance .

Therefore, trading intraday on new low of the day can be even more lucrative for traders who can master this strategy.

I created a YouTube video to help traders identify this bearish setup using a very simple indicator.

From Upper Bolinger Band to Lower Bolinger Band

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Crossover of EMA8 above EMA20

Crossover of EMA8 below EMA20

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Which Are The Best Websites For Intraday Tips

If you are looking for Intraday trading tips, how about you start with the institutions that actually move the markets.

Follow The Smart Money

There are more and more services that provide insights on where the Smart money is going.

These come in the form of Live Intraday Options Flows you can easily follow to make money.

I have been using the very first one to offer such Intraday trading Tips since 2017.

It is called FlowAlgo.

The results tends to be very spectacular with very high profit as depicted in my FlowAlgo Playlist videos.

Live Intraday Option Flow Services

Since 2017, other competitors to FLowAlgo have surfaced.

My Top 10 FlowAlgo Alternatives article provide and in depth view on how to choose the most convenient service to meet your trading needs.

CONCLUSION

These essential Intraday Trading Tips are sure to help you avoid some of the pitfalls many traders faced daily.

After you master them, you will once step closer to consistently grow your trading account.

Should you desire to further take your trading to the next level, may I suggest you check out our 10-Baggers Trading system that has been helping many traders in our Discord Channel.

It can help you too starting today.