Which is the best indicator for intraday?

Hello everyone, I am planning to invest in Intraday trading very soon. So, I would really appreciate the help here.

There is nothing like best indicator. Some indicators work for certain stocks and not on others. You can back test it and then use in live market. Many say indicators are lagging and advise to follow price action. But actually it depends on what each one is comfortable with. Always plan your target and stop loss before taking trade and follow it

Originally Posted by nameeta26

Hello everyone, I am planning to invest in Intraday trading very soon. So, I would really appreciate the help here.

Understanding levels which are important, price action, breakouts are important .... Its also important to find your own comfort zone when it comes to trading ....

Reduce returns expectations and frequency, if things are not working out .... Remember than 5% a month return is path to becoming richest man on the world in 40 years with just one Lakh capital .... A lot of traders fail as they all expect to make 20% returns a month ...

1st target is to make profits, it does not matter even if its just 1% returns a month equivalent to FD .... once you do that, u can slowly increase risk and look to make 2% to 4% a month .... Eventually, you will find the zone, where you are comfortable

Thank you for such helpful reply. But I want to know if it involves risk to invest in such way.

In markets, risk will ALWAYS be there. No one can eliminate it. What one need to do is, how to mitigate or keep it low. To be a successful trader, consistency is very important, not like making 10% in few trades and losing the same in following trades. I look for 2% a month as returns in trading. One or two months in a year, there won't be any returns or loss. Keep the return expectations low and be profitable consistently.

Thank you for the helpful reply. I will surely follow this. But can we avoid the period of loss or analyse it before?

Avoiding loss: Scheduled events like general election/budget - yes (simply avoid taking positions before this or take after volatility has ended post the event). For unscheduled events like demonetization/surgical strike announcements - No

Ok, I will keep that in mind for sure. This is exact answer I was looking for. Thank you. But didn't demonetization affected the business the last time?

yes, cash crunch not only affected business, but a tough time for every average citizen who struggled to get money withdrawn from their bank account. My point is, we can't predict such events and has to manage the loss if the trade goes against our position. Markets fell but recovered.