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What are the Best Intraday Trading Tips?

By A. Leverkuhn
Updated May 17, 2024
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When it comes to intraday trading tips, there are both common and “global” types of advice on how to make good trades during a trading day, and other more specialized tips that get passed more informally from one trader to another. Generally, using the public and common intraday trading tips will help a beginner make better use of capital on public exchanges. Start with the basics of this kind of trading, and you will already have an advantage.

One of the biggest and best intraday trading tips is to try to avoid margin trading. Margin trading is when an investor borrows money to put into the stock market. The pros have pointed out all kinds of problems with this, many of them relating to volatility and the inherent risk that a trader faces in the market. Beyond avoiding margin trading, there are other helpful tips to keep from experiencing huge losses, such as the diversification of a portfolio. Diversification means putting money in different baskets that will have a lesser chance of losing value simultaneously. That means that the individual investor is, in effect, “juggling” the different stocks to avoid an immediate loss of value.

Other professionals talk about “hedging” risks. One way of doing this is to keep money in radically different equities and financial products, from risky stocks to safer indexes or super-safe interest bearing loan securities. Another intraday trading tip is based on a very “intraday” method: lots of day traders like to practice “buying on the decline,” where instead of making a large up front trade, they make a series of smaller trades that help to limit the loss if a stock suddenly drops during the day. The downside of smaller purchases is that each one will trigger a commission from a brokerage account, but often, intraday traders take this loss to help prevent the risk of losing out to temporary price drops.

Another big tip for intraday trading is to always use the tools at the investor’s disposal. Most online brokerage accounts offer things like limit orders and stop loss tools. Limit orders help ensure that the trade gets made close to the desired price, and stop losses help to trigger automatic sales to prevent big losses during a trading day. Traders can also look at the use of call and put options to get access to more potential gains from moving stock prices without investing chunks of money in actual stock purchases.

Many other intraday trading tips focus on using complicated algorithms to predict pricing changes during a day. Traders can use their own mathematical expertise to help with predictive modeling and shield themselves from some types of loss. Generally, timing is the key to a lot of successful day trading, and many of the pros understand this, offering some of their ‘wisdom’ to beginners through proprietary classes and publications.

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