Keep your trade list small. Don’t try to trade intraday in 50 stocks. You need to track the stock. You may think that intraday trading is like punting. It is not. There is lot more skill and discipline involved in intraday trading and you must keep your discipline Investors are advised to include eight to 10 shares in their wish lists and research these in depth. Knowing about corporate events, such as mergers, bonus dates, stock splits, dividend payments, etc., along with their technical levels is important.
What should you do as an intraday trader? Use the Internet for finding resistance and support levels will also be beneficial. Today most charts and indicators are available for you on the internet. Make the best of it. Set alerts in your trading account for the 8-10 stocks that you are trading intraday. You need to get system alerts on dividends, profit announcements, corporate actions etc. All these have a bearing on price. News flows are quite critical for an intraday trader. Don’t lose out on these important things. Of course, keep these 8-10 charts always accessible to you. You may need to refer to them at any point in time.