Intraday trading is a type of trading in which stocks are traded in the span of one day. Intraday trading is a high-risk and high-return strategy. However, there is a real possibility of earning a high return on these trades as well.
This strategy should be done after taking adequate steps to educate yourself about how intraday trading works, how to pick the right stocks for intraday trading, and understanding how intraday trading works.
Benefits of intraday trading:
High returns on capital in a short time
Can make trades in both rising and falling stock markets
Intraday trading does not require a high amount of capital since it is based on margins.
Multiple trades can be executed in one trading session.
Great opportunity to learn about the market
How to earn from Intraday trading:
While these aren’t drilled down specific strategies on making from intraday trading, they are essential points that an intraday trader must know if they want to find success while trading.
First, Learn how intraday trading works:
Before expecting a large return from your intraday trades, it is important to understand how intraday trading works thoroughly. Each trading account has a different interface and another way in which intraday trading works. Learning how it works can go a long way in making your trades profitable.
Understand that returns can go both ways on the same day:
Not all intraday trades will be profitable. Some trades can result in a loss, while others will aggregate a profit. Always expecting each trade to result in again is not only stupidity but can lead you to make mistakes in the trade. The whole trading process is a learning process where you can strengthen your market knowledge with each trade.
Make small trades:
The first step of intraday trading is to set the price at which you will exit the stock. As your expertise in intraday trading improves, you will be able to make better calls. One way to make trades profitable is to exit from stocks and not wait for too long—exit when you reach your target and then go for it again.
Exit before incurring high losses:
Rather than waiting for the stock to recover, exit from the stock at a particular stop loss level. Deciding a stop loss level will automatically restrict your losses and make your trades more profitable overall.
Get expert advice
If you are inexperienced and need some guidance, I suggest you get the best players in the market.
I am trading on recommendations of Eqwires Research Analyst, and they have given excellent results till now. I am grateful to them and recommended many people, and they are also getting good results.
I am passionate about helping new investors and traders so that their hard-earned money does not go down the drain.
Most traders treat “intraday trading” as something that happens according to their minds.
When they make a successful trade, they think it is because of their intelligence and hard effort.
But when things go wrong, it’s someone else’s fault. They blame FIIs for haunting their stop-loss or SEBI for new margin requirements.
After some time, they join the “Intraday Trading Doesn’t Work” club and start to blame everyone in the market.
Always remember one thing.
You can have either “Excuses” or “Results” in your life, but you can’t have both!
When you make an excuse, automatically, you are avoiding results. If you don’t give an excuse, your mind starts to think of many ways to get the results.
So if you are keen to taste success in intraday trading, avoid giving excuses for any reason.
After all, intraday trading is just a type of trading in which you have to close the trade on the same day. If you are right, the markets award you with money; if you are wrong, the same market steals your money back.
There are so many books available on intraday trading, and the level of topics and content will most certainly vary.
Below are some of the good books on Intraday Trading:
Top 13 Intraday Trading Books: Intraday trading is one of the most fascinating ways to create wealth. With intraday trading, you can make a fortune and become financially independent. It is always advisable to indulge in intraday trading after gaining proper knowledge and information. Very few in the market have the discipline and right approach towards trading. Therefore, the best way to learn the art of trading is to read the books on trading that are available in the market. In this article, we will list down the top 10 books for intraday trading.
Best Intraday Trading Books Collections
1. Toni Turner – A Beginner’s Guide To Day Trading Online
“A Beginner’s Guide To Day Trading Online” by Toni Turner is one of the best books for beginners in the stock market. This book is written by a trader and educator. The book deals with setting up a trading plan, technical analyses, risk management and other things that a beginner must know. The book is full of quizzes and checklists for learning purposes. By reading the book you can learn about long term and short term trading benefits, risks and all other important concepts.
2. Day Trading for Living
This is a beautiful book by Andrew Aziz on intraday trading.
The author has explained the fundamentals of day trading and how it is different from other forms of trading and investment.
He has also explained some of the useful strategies and screeners which are essential for day trading.
This book enforces the traders to ask the below two questions:
Is day trading for you?
And if yes, how do you plan your trading business?
This book also explains the differences between discretionary trading and rule-based (system) trading.
3. Master Mind of Day Trading
This is one more good book on intraday trading topics.
The author is Nataraj Malavade, and it highlights the importance of tricks to make profits in intraday trading even after having only 30% accuracy in trading.
This book advises day trading is not an intellectual endeavor. It says if intraday trading were all about intelligence, then academic scholars would be millionaires by now.
It provides a detailed explanation of various aspects of day trading. In addition, it also contains a detailed description of money management and position sizing.
4. David Bennett – Day Trading Grain Futures: A Practical Guide To Trading For A Living
“Day Trading Grain Futures: A Practical Guide To Trading For A Living” by David Bennett is an ideal book for those looking to trade in the future. This book offers practical knowledge on how to trade in the future effectively. With this book, you will learn about day trading in the futures market and clear cut strategies built on the timeless trading concept. This book does not rely on complex indicators and other technical parameters. You can also use the strategies given in the book for intraday trading in stocks.
5. Marcel Link – High Probability Trading
The book “High Probability Trading” focuses on taking trades when the odds are in your favour, how to set up the trade, how much to trade and what to look at while trading. To avoid making mistakes in the market, you can take advantage of the experience of the author and his trial and error approach in the market. The book is easy to read, well written and to the point.
6. Josh DiPetrio – The Truth About Day Trading Stocks
Josh DiPetrio’s book “The Truth About Day Trading Stocks” takes you closer to the real market. The book focuses on the fact that intraday trading is not a money-making scheme. The book has easy language to follow and makes you aware of the genuine mistakes that you may commit in the market. The books also help you in managing the risks well. The book consists of some essential lessons on the stock market. By reading the book you will get to learn about the market reality.
7. Mark Douglas – The Disciplined Trader: Developing Winning Attitudes
“The Disciplined Trader: Developing Winning Attitudes” focuses on the complexities of trading psychology. You will find many books on risk management, technical analysis, making strategies, etc. but this book is on the behaviour of a trader. You can learn all the great strategies of day trading but all will fail if you are not a disciplined trader. This book focuses on making you earn profits by following a disciplined approach. The book offers you multiple tips on keeping your head calm and emotions under control during intraday trading. With this book, you will also learn about minimizing your trade risk and documenting your trade performance.
8. Howard Abell – Digital Intraday Trading Books
If you are looking for a book that does not waste words and has easy language, “Digital Day Trading” is the right choice. The book focuses on a trader’s psychology and market philosophy. You will also get day trading tips by reading the interviews of famous traders in the book. The book is unique in itself because it was written when the markets were very volatile.
9. Tony Oz – The Stock Trader: How I Make a Living Trading Stocks
If you are looking for a book that gives all the details about the day trading strategy, this book is right for you. In this book, you will learn about market strategies covering the entry and exit price, chart patterns, and many other factors to consider before taking a trade. This book is written in an engaging way and appeals to a wide range of audiences. By the time you end up reading this book, it might end somewhere in your favourite intraday trading book list.
10. Micheal Sincere – Start Day Trading Now
This book focuses on technical analysis and gives important lessons on how to manage your money in the market. This book helps you in learning all the practicalities that you must know while making a trade. You can get the benefit of reading the interviews of famous traders and learning what mistakes you must not make. “Start Day Trading Now” by Micheal Sincereis easily readable as it is less than 200 pages.
11. John Carter – Mastering the Trade
“Mastering the Trade” by John Carter consists of many successful trading strategies that are accurate. John Carter, himself is a commodity trading advisor with Razor Trading and currently manages a futures forex fund. The book showcases some of the common mistakes that traders make and tips for beginners. This book is ideal for building a solid foundation before jumping into trading.
12. Ann C Logue – Inatraday Trading For Dummies
Ann C Logue is not a trader himself, but his book is ideal for understanding the basics about trading. The books cover all the important day trading topics which every trader must know. This book can be said to be the best book for beginners in the stock market. This book is straightforward and guides you through the entire process of day trading like from picking the stock and strategy to managing the risk and controlling the emotions. This is a great intraday trading book.
13 – The Subtle Art of Intraday Trading
Intraday trading is an exciting and mysterious activity for most people.
The flashing profit-making intraday trading videos on YouTube excite most. If you ask any person to come up with one word that comes to their mind when they hear intraday trading, they say either ‘money’ or ‘fear.’
If making money in intraday trading was that easy, everyone would have made money from it. Systematic learning is required to get success in intraday trading.
Along with a detailed explanation of intraday trading, this book also provides 10 profitable intraday trading systems, which are backtested against 10 years of Banknifty historical data and complete results.
This book also explains powerful candlestick patterns, money management rules, trading psychology, and many valuable options trading strategies.
The above are a few of the top books for intraday trading. If you are new to the market and want to learn more about the stock market, you can visit TradingFuel. We help traders by providing free blogs with all the important information and knowledge. Moreover, our free and accurate tips give you the opportunity to make high profits with minimum risks. To avail of our services on financial planning and strategic trading, you can contact us via email or phone.