What is the best strategy for intraday to earn money?
Intraday can be a great way of making money with significant returns if you have a good trading strategy and trading mindset.I have traded equity , index , currencies and commodities on intraday basis , and from my experience all i can tell you is there are numerous strategies to make profit.I will show you my own strategy -This is my strategy for commodities (Natural Gas , Gold , Silver , Lead etc.)which i have recently developed. You can see there have been total of 45 trades in almost a month with profit of 39.30 and loss of 20.70.Although it seems very good in back test but in reality due to high volatility and sometimes liquidity it gives slightly lesser profits and also it does not square off positions at end of day.1 lot of natural gas requires a margin of 15K whereas cover order requires around 3K . Even if you make 10 instead of 18.6 in net profits you have made around 12500 .Assume you have capital of 40K and you trade 10 lots at a time and assuming no charges whatsoever you have generated a return of almost 300% in a month.Although there are other factors which i am unable to code it into PI , which even reduces the loss more significantly.I have been using this strategy since this month and it is giving great results.This strategy works good for some metals including gold and silver too.Now coming to the question of best strategy , I don’t think there is one best strategy that can give great results on every scripts , i have a different strategy for index( Nifty and Bank Nifty ) , different for currencies and different for commodities.And most of my strategies are very simple unlike the popular convention where most people think profitable strategies are very complex in nature.If you want to create your own strategy , use different indicators and see how they worked in historical charts , I have spent 100’s of hours using different indicators on historical charts of different scrips before i started to find some patterns and created my own strategy.