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7 Simple But Effective Intraday Trading Strategies That Work

What are the most important aspects of trading? According to many online trading experts, one of the most important things about successful online trading is keeping it simple. When you limit yourself to only focusing on the aspects of your trading strategy that truly make a difference, you’ll find yourself much more successful than if you try to do too much at once or get overly complicated with your approach. With that in mind, here are seven simple but effective intraday trading strategies that will help you start making money on stock exchanges today!

7 Simple But Effective Intraday Trading Strategies That Work

1) The RSI Breakout Strategy

You can find out more about various trading strategies on sites like TD Ameritrade, ZuluTrade, and Fidelity. There are many different trading strategies you can use to succeed in day trading, and some of the more simple but effective ones include using a breakout strategy by using the RSI indicator (the relative strength index), traiding stocks as an individual rather than a position, and using sector information in your traiding decision.

2) The Oscillator Crossover Strategy

If you're new to the idea of intraday trading, it's a great way to earn higher yields and grow your account faster. Whether you use one of the many online trading sites or have a brokerage account, it's always important to have a strategy when it comes to making trades. One popular strategy is the oscillator crossover strategy, which can be best explained as waiting for stocks' price and their oscillator values to move in sync.

2) The Oscillator Crossover Strategy

3) The Parabolic SAR Strategy

Step 1. Go to your trading platform and open up a new trade order in the desired amount and type you are investing in. Choose your preferred time duration or target price level. 

Step 2. Enter the Order Stop Loss at one standard deviation below the expected mean return. You can calculate this by multiplying your target price by the current risk coefficient, which is a number between 0-1, then dividing it by the option delta multiplied by 100%.

4) The Trend Line Strategy

One way to find successful intraday trading strategies is to look at what the professionals are doing, or which strategies have consistently proven profitable. Trend Line Strategy is a type of strategy that's used to maximize profits in just one trade. It involves buying a call or put when there is a strong trend and placing an opposing order while simultaneously selling an option as insurance on the other side. If you do it right, this will give you an unlimited profit potential while limiting your losses.

5) The 2-Average Range Strategy

The 2-Average Range Strategy is an extremely simple but effective intraday trading strategy. It can be used for day, swing or position trades, but when it comes to intraday trading this strategy will outperform most of the other more complex strategies.

The 2-Average Range Strategy

6) The ABCD Pattern Strategy

There are lots of benefits to intraday trading, and the strategies can be used on any one of the many trading sites available. For example, some strategies are more suited for stocks, while others may be better for currency pairs.

Let's take a look at 7 basic but effective intraday trading strategies.

7) The Momentum Break Strategy

It is important to know when the market is trending so you can be trading with the trend. Momentum break strategy can help in catching a potential trend reversal or just taking the trade that has a momentum. This strategy usually involves buying an option before an event like earnings or else on earnings day, sell options against that position at even money, and keep all profits from this process.