The total number of trades is OK as long as you can control the same and track these trades. The problem arises when you initiate trades and you don’t know whether you are net long in the market or net short in the market. Initiating multiple trades during a trading session without understanding the final outcome can be suicidal. Even seasoned traders don’t initiate more than 2-3 trades per day. Reason being, Stocks for Intraday Trading are highly volatile, and the trader is on their toes till the position is squared off. Humanly also it is impossible to trade more than 2-3 stocks with 100% concentration level. Therefore, to start with, you can initiate trading in 1 stock, and then you can gradually trade in two stocks every day. Don’t really go much beyond 3-4 stocks and don’t keep too many positions open at any point in time.
As an intraday trader, even though you need to track the news and flows, ideally avoid Intraday Trading in News/Results driven Stocks or stocks that are just too newsy and keep jumping around in response to the slightest of cues. The reaction of news or results is unpredictable on the stock price. The stock price goes all over, and traders are not able to identify the trend. Remember the stock reaction to a piece of news can be exactly the opposite of how you interpret. For example, you may short Axis Bank looking at the results but the stock may shoot up because, despite bad results, the stock may have done much better than what analysts expected the stock to do. It is tempting to enter into such newsy stocks for quick gains. Always remember to only enter into a stock with a strong trend. When you are not sure of the trend, please avoid such stocks.