Top Successful Intraday Trading Strategiesby Jessica Smith Blogger
Some traders make trades and close them on the same while others stay invested for a longer period of time. Entering trades and exiting them on the same day is known as intraday trading.
Intraday traders earn daily profits from the market. They generally focus on making quick profits rather than staying invested for a longer-term. Traders need successful intraday trading strategies to earn profits from the market.
These traders react quickly to the financial markets based on market studies and news. A faster reaction to the markets can assist them in getting more and more money from the market.
Traders need to study price charts using various types of indicators to get better results from the trades placed by them.
Why There Is a Need for Top Intraday Trading Strategies
Intraday trading strategies are required so that traders can take proper actions by following the correct process. The strategies are designed according to the performance of the market and to grab the best from it.
There are several strategies and they are selected according to the situation of the market. Traders need to be flexible and adaptable so that they can quickly choose the best strategy that suits their trading needs.
The intraday trading strategy also depends on the behaviour of the market. We are going to discuss the best strategies for intraday trading.
Best Intraday Trading Strategies
Among a number of different strategies, we have selected the best for all the intraday traders. Therefore, here are the best trading strategies:
Moving Average Crossover Strategy
The meaning of moving average crossover trading strategy is reflected in the name only. When the price of the trading asset crosses the general trend or average it is more likely to go in the opposite direction. This is known as the moving average crossover strategy.
When the price is likely to fall traders can go short and when the price is likely to rise traders can go long. This is one of the best trading strategies for intraday traders.
Momentum Trading Strategy
Momentum means movement, trading assets prices move daily. According to the research, most of the trading instruments face a 20% daily change in prices. This strategy is about catching the move before it is going to appear.
Most of the momentum occurs during the opening of the financial markets. Traders need to study factors before opening the market. The position can be held for a few minutes or hours based on the momentum.
Breakout Trading Strategy
A breakout means when the price moves outside of the market trend. For example, if the market trend is bullish the price moves downwards and vice versa. Technical indicators are used by traders to catch the breakouts in the price of trading assets.
This type of trading strategy requires quick entry and exit from the market as compared to other trading strategies. Identify the support and resistance level and then identify the breakouts in the prices.
Reversal Trading Strategy
This intraday trading strategy allows traders to enter a position close to the support line. The working of this strategy is buying low and selling high. Traders enter a position when the price is very close to the support level and the price is about to rise.
This trading strategy is having a higher success rate as compared to other trading strategies. Traders can take advantage from the rising price of the trading asset. It requires holding the positions for a shorter period of time.
Pull Back Trading Strategy
Pullback means taking advantage of the short movements of the prices of the trading assets. This can be practised when the price faces an inverse trend as compared to what is continued for a longer period of time.
It can be recognised by the volumes of trade on the previous day or present-day, whatever the situation is.
Some Regulated Brokers
Traders should trade with regulated brokers to keep their funds safe and secure. Here are a couple of top brokers that you can consider while trading:
These are among the best online brokers. Traders can start trading with a demo account. For better results, you can use trading tools along with educational material. Use trading leverage for earning higher profits from the market. These brokers are also offering dedicated customer support with a user-friendly MetaTrader 4 trading platform.
Choose among the different trading accounts provided by the brokers to earn profits Zero commission is charged on the trading activities of a trader. They offer a wide variety of trading assets to trade.
The Bottom Line
Intraday traders can earn high profits from the market with top successful intraday trading strategies. You should understand market fundamentals for better profits making. Select the best trading strategy that fits the situation of the market. Earn high profits daily from trading and make safer trades in the market.
Created on May 24th 2021 07:04. Viewed 137 times.