InvestorQ : How important is stock selection in intraday trading?
Arti Chavan made post

How important is stock selection in intraday trading?

vidhya Laxmi answered.
3 years ago
To succeed as a day trader, it is important to know how to pick stocks for intraday trading. It is not just about selecting stocks that are liquid but also stocks that show movement. You also need to have stocks that give clear decipherable patterns on the technical charts. If the charts are too confusing then you cannot arrive at any logical conclusion for day trading. Also, these stocks need to react to news flows. That is the best way to trade intraday and if stocks react to the news very languidly then there is no point. Quite often people are unable to make profits intraday because they fail to select appropriate stocks to trade
Day trading, if not managed properly, can have a negative impact on the financial well-being of the trader and also on her net worth. The temptation of earning huge profits in a short period of time can entice traders. However, with incomplete understanding and knowledge, intraday trading can be harmful. You begin with the proper stock selection. Once that is mastered, the other aspects can follow more logically.