30-Day Trading Tips and Strategies That Guarantee Long-Term Success

Up close of a trader checking price chart of assets

Day trading, also known as intraday trading, involves purchasing and selling assets on the same day.

In other words, when you place an intraday buy or sell order, you capitalize on price movements during the trading day and close your position before the market closes. Intraday traders seek quick, short-term profits.

To know what day trading entails, as well as its pros and cons, read this comprehensive overview.

Although very lucrative, only 1 in 100-day traders consistently make money off it in the long term. Hence, dos and don'ts and a sound analytic approach are necessary to avoid squandering your funds.

Before we reveal our tips and strategies for successful day trading, let us provide you with a list of benefits and risks to consider before diving into this trading technique, which is inappropriate for all trader profiles.

Why is Day Trading So Risky?

Day trading is a complex set of operations. It is the practice of buying and selling a security within a short period of time, typically a few hours to one day. The goal of this trading method is to accumulate transactions throughout the day.

To avoid losing to the market, the day trader must have specific skills and knowledge. An intraday trader conducts a large number of daily transactions while seeking the smallest price differentials. The trader will close all open positions at the end of the day.

If done correctly, this activity can be extremely profitable. Day trading is reserved for those who want to make it a career rather than just a hobby.

Day trading is risky for a variety of reasons. 

If you are unable to tolerate the risk associated with short-term volatility, you can consider swing trading or position trading, which involves buying and holding positions for a medium or long period of time. However, if you are still interested in day trading, it is important to gain as much knowledge as possible before beginning.

First and foremost, you are competing with professionals whose careers revolve around trading. These individuals have access to the most advanced industry technologies and connections. 

So, even in the event of failure, they are trained to succeed in the end. They're well-oiled war machines. And if you dive in headfirst without thinking, it means more money for them.

Intraday traders face a lot of pressure because the types of trades they choose are constantly changing.

Day trading necessitates intense focus and concentration throughout the trading day. 

Being a beginner in day trading does not imply having limited knowledge and skills. A thorough understanding and mastery of technical analysis tools and Elliott wave theory will be required. 

Day trading requires a lot of practice and knowledge, and several factors can complicate the process. 

It's also important to to remember that any gains you make will be subject to taxes.

Since what you earn does not equal the net value of what remains in your portfolio, be aware that some losses could cancel out all of your gains.

Additionally, as a beginner day trader, you may experience emotional and psychological fluctuations, which can cause you to make rash decisions and lose money

To protect the money at stake while adhering to their trading strategies, professional traders can usually control their emotions. However, because you are investing your own money as a beginner day trader, you may be more susceptible to emotional bias. 

In reality, day trading necessitates considerable stability and emotional control. Although it's understandable that you find it difficult to lose your money, you can learn to manage your emotions, but it requires time and, most importantly, letting go. Take day trading as an investment, not a gamble

Is day trading profitable?

Day trading is difficult; even experienced traders may struggle to be profitable. Professors Brad Barber and Yi-Tsung Lee at the University of California conducted a 2010 study that found that only 1% of day traders consistently make money. The study examined traders' transactions from 1992 to 2006.

It's critical to educate yourself on day trading. In addition to the numerous online courses available, you can open a demo account with a broker to practise day trading.

Because of its speculative nature, day trading results in uncertain gains. Some traders succeed, but it is a risky strategy that necessitates certain skills, a thorough understanding of financial markets, and effective risk management.

The most successful day traders are full-time traders, since they have the advantage of being able to monitor markets all day. Individual traders can also set up trading sessions for a few hours each day.

The profitability of intraday trading is frequently compared to that of conservative investing or passive management. While day trading capitalises on price volatility to produce short-term price movements, long-term investing entails investing in the creation of value for companies.

As a result, investing has a higher success rate than day trading in terms of risk. Furthermore, some financial experts assert that passive trading strategies consistently outperform active trading strategies, especially when accounting for trading fees.

To be successful, you must have a solid intraday trading strategy.

Here are some tips to help you become a successful day trader:

Most effective tips to achieve success in day trading

  • 1. Define a good strategy

    As listed below, there are various day trading strategies. Most day traders use technical analysis, while others use news and intraday events to profit from their effects on financial instruments.

    However, whatever technique you choose, make sure it fits your trader profile and that the tests performed on the simulation account confirm your belief in this approach so that you can use it on a daily basis with confidence and discipline. 

    You should also implement one or more strategies for reducing losses and increasing profits. You must be able to follow and adapt to market conditions, which change on a daily basis.

    Sometimes, people use a plan and a strategy interchangeably. However, the latter is part of the trading plan. The rules established in your strategy will allow you to identify a trading signal. 

  • 2. Follow your strategy

    As previously stated, discipline is the most important aspect of becoming a successful intraday trader. Following the rules is the best way to maintain discipline.

    Every trader must not just have a good strategy but must be strict about adhering to it, which includes: 

    • Entry lot size: Technical signal to enter a trade (for example, if a 50-hour moving average crosses the 100-hour moving average, you will open a buy position).
    • Risk-to-reward ratio: If you receive a technical signal to close a trade, such as when the 50-hour moving average crosses the 100-hour moving average from above, you should exit the trade.
  • 3. Keep a trading journal

    If your trading strategy changes shortly after it is written, update the trading journal after each session. It's a document that keeps track of your daily trading activities. 

    Include your remarks and feedback. Based on your notes, you can self-assess for errors, omissions, failure to follow the trading plan, etc.

    The trading journal also allows you to draw objective conclusions when you're doubting your trading system after a string of losses. Indeed, the trading journal will be especially useful if you have a string of losing trades. In most cases, it aids in determining the root causes of poor performance.

  • 4. Sufficient capital

    To be profitable, day trading requires a sizable starting capital, but significant leverage is also an option.

    To reduce risk, avoid investing in too many securities at once and instead focus on one or two assets at a time. 

    You can therefore consider starting a day trading career with only a few thousand dollars in your investment account; it's all about good risk management.

    If your trading account contains 10,000 USD, you can begin trading and earn enough money to live on. Provided you do not exceed a 1% risk on your initial investment.

    New traders should start with a small amount and test their strategy. Once the strategy they use produces consistent profits, they can increase the lot size. 

    It is not impossible to start with a capital of 1000 USD, but the journey will be much longer. You can start trading microlots and gradually add more money each month to increase the size of your trades.

    In the United States, day trading stocks requires at least $25,000 of capital. However, in the Forex market, you can begin with less than $500. The more capital you have, the less risk you need to take to make money.

    Also, make sure that the rates charged by your broker, as well as any other fees, do not reduce your profits.

    Finally, we will say it again: never invest the capital you need to live on; trading should not be a last resort.

  • 5. Select the right assets

    Day traders generally select assets based on volatility. It is usually best to select assets with high volatility because they provide more opportunities for profit

    To identify assets with upcoming volatility increases, traders should consult the economic calendar, as prices frequently fluctuate during major events.

    Furthermore, this tool helps define market sentiment, which aids in trend prediction.

    After selecting an asset, the trader should conduct technical analysis, define the trend, determine the best entry point, set profit targets, and place a stop loss.

    The advantage of being a day trader is that you can select from a variety of timeframes based on the liquidity of the chosen market, the amount of time you have for trades, and your preferred trading strategy. 

  • 6. Never change the entry and exit prices

    Have you ever regretted a decision immediately after making it? Sometimes traders change their minds and question their decisions. 

    They believe that the chosen entry point was not as good as they anticipated when they entered the trade.

    To avoid making such mistakes, you should establish an entry point and a take-profit level before entering the market.

    There isn't a perfect way to open or close a position. However, stick to the rules outlined in your trading plan. Never try new entry or exit strategies on your live trading account without first testing them in a demo.

    It is best to plan your trade without allowing your emotions to guide your decisions.

  • 7. Risk management

    Risk management entails determining the size of your positions, managing your money, and placing stop-loss and take-profit orders. 

    Regardless of how confident you are in your positions, protecting the capital available for day trading should be a trader's mantra.  

    Most professional traders risk no more than 1% of their capital on any single position. This enables them to survive and start over the next day if things do not go as planned.

    When developing your trading strategy, determine the percentage of capital you are willing to risk on each trade. Needless to say, a professional day trader only risks the capital they are willing to lose. Do not spend money meant for other purposes in your daily life.

    When you open a trade, the price could move in any direction. As a result, the trader must decide how much loss is acceptable if the trade fails to meet the target.

    There are several ways to establish a stop-loss. The most common approach is to place a stop loss at a key level behind an entry point and calculate the risk/reward ratio.

    The issue of capital allocation, discussed more broadly below, should also be raised. 

    • Will you only use your capital to trade one strategy?
    • Will your strategies be discretionary or systematic?
    • Do you plan to delegate capital management to another trader?

    Strategy and risk management are interdependent. Good risk management will allow you to keep a large portion of your capital after a long period of losses.

  • 8. Take profits when the price reaches the target

    Greed is the enemy of all intraday traders because the market can change sides in a matter of minutes, especially if it is overly volatile.

    The secret to successful intraday trading is high leverage, which increases profits (and losses). However, once you achieve your goal, the trick is to resist greed. If you've met your target price, don't wait for it to rise further.

    If the trader is confident that the price will continue its momentum, they have two options:

    1. Split the position and set multiple targets. 
    2. Adjust the stop loss and trail it as the price moves in the trader's favour.

    Professional day traders typically set trading goals for each session, which they can express in terms of pips or points gained. For example, one might decide to stop day trading after gaining 50 pips. It can also be a loss-based goal, such as stopping trading after 100 pips.

    Setting such goals has numerous benefits. It limits the length of your trading sessions and prevents overtrading, which involves taking too many positions and paying more commissions. Setting goals allows you to limit your daily trading sessions.

  • 9. Close positions at the end of each day

    If the trader opens an intraday trade based on current market trends and technical analysis, it may not be a good idea to keep it overnight. The new day could begin with fresh information, potentially reversing the trend.

    Intraday traders would be unaffected by news after market hours because they may have already adjusted their positions. This allows them to avoid the risk of losing money overnight.

  • 10. Don't trade against the market

    The trend is your friend. Do not marry your analysis. Fluctuations are inherent in all markets. 

    If the market does not support your analysis, sell and close your position as soon as you reach your stop-loss level. 

    Holding out hope that the market will behave as you predicted can increase your losses.

  • 11. Take your time

    Occasionally, the intraday trader may only trade for two or three hours per day. This does not imply that day trading is a part-time activity or a hobby.

    It's possible that in those two or three hours, you've met your daily goals, whether you won or lost. The day trader must then closely monitor the evolution of their assets in order to plan for the next trading day.

    Furthermore, day trading necessitates continuous learning. Use your available hours to learn about upcoming changes and new developments in your profession.

  • 12. Start with a few trades

    Intraday trading resembles a high-performance athletic competition. It is not advisable to begin with maximum effort. Pace yourself, especially if you're just starting out. 

    Begin with a few trades, regardless of how confident you are in your trading strategies. One, two, three—but no more. This allows you to detect and correct errors. You can also evaluate the factors that contributed to the bad trade.

  • 13. Manage market timing

    Day traders begin their day by analysing possibilities that align with their trading strategy. Some orders start to execute as soon as the markets open. This is fantastic because it ensures that the asset remains liquid.

    In fact, intraday trading generates returns based on order patterns and timing.

    Profits in intraday trading are heavily dependent on the time factor. One of the best intraday trading tips is to avoid taking positions during the trading day's first hour. 

    If you are a new intraday trader, do not rush. Allow the market to run for 15–20 minutes. Keep in mind that an asset's liquidity is highest at the start and end of the trading day.

    Volatility is typically high at this time, resulting in a lot of hustle and bustle and noise in the market's early hours. 

    • Schedule your trading hours: Professional day traders cannot trade whenever they want. You must create a specific schedule. It is critical to establish a time interval during which you will conduct your trading. It is necessary to trade at the same time every day in order to become acquainted with market behaviour at that time.

    Unless there is a market-moving news event, the mid-hours may be less liquid and volatile. Once you've gained some experience, dive into trading during peak hours.

    Many experts prefer to close their trades an hour before the US trading session begins and resume trading an hour later.

  • 14. Master and select the right markets for scalping

    Scalping, highlighted above, is a very short-term trading strategy that entails making small but frequent profits on minor price fluctuations with little risk.

    In other words, the scalper opens and closes a position in a short period of time, typically a few seconds or minutes.

    All financial assets lend themselves to scalping, such as indices, commodities, and bonds. 

    Although there is no universal scalping strategy, you can use these tips to improve your technique: 

    • Use Japanese candlesticks
    • Use tick, range, or renko charts. 
    • To limit losses, set stop losses on all positions. 
    • Determine the market conditions (low or high volatility).
    • Identify market trends, such as uptrends, downtrends, or ranges. 
    • To take positions, use your own strategy, money management, and trading plan.
  • 15. Select a good broker

    One of the most important decisions you will have to make in your trading career is unrelated to the stocks or bonds you will purchase. It all comes down to which stock broker you choose. How do you know which one is best for you, and what criteria should you use?

    Since day traders execute multiple transactions on a daily basis, accumulating profits, you should choose a platform that allows for quick execution and charges a low commission.

    To open and close a trade, you typically must pay spreads and commissions. 

    To profit from day trading, carefully select the broker with whom you will trade. Some brokers' fees can disrupt your strategy by accounting for an excessive portion of your profits (up to 20% of your initial capital).

    Always remember to check the level of spreads offered by brokers, or the difference in rates they offer you, before making a decision. 

    Using an efficient and quick interface is even more crucial to ensuring that your securities are considered at the right time.

    Ideally, run a test phase using the demo accounts provided by most brokers.

  • 16. Understand the markets in depth

    Day trading is a type of market trading with distinct characteristics. The intraday trader operates in the short term, looking for small price changes or arbitrage opportunities that arise during the trading day.

    In day trading, no positions remain open overnight. Regardless of what happens in the market, the trader will close all positions at the end of the day.

    This is where two critical aspects of this type of trading stand out. Professional handling of technical analysis tools is required.

    The other aspect is a thorough understanding of how markets operate, and how the financial and economic news affects them. 

    For example, if the Federal Reserve raises the reference rate, how will this impact the assets you trade? What opportunities exist for your intraday trading operations?

    When creating your trading strategy, you will decide which assets to trade with. Become intimately familiar with the characteristics of those assets, as well as their price history. Analyse price movements and understand which news can impact them.

  • 17. Penny stocks should be off your radar

    When an intraday trader searches the stock market for prices and offers, they may come across penny stocks. Avoid succumbing to temptation, and steer clear of penny stocks.

    Regardless of the opportunities you may see, this type of stock has several drawbacks. 

    Typically, over-the-counter trading occurs for those selling for less than $5 per unit, often leading to liquidity issues. 

    This is a significant inconvenience in intraday trading because it may make it difficult to buy or sell assets.

  • 18. Limit orders are the best option for a day trader

    Beginners in day trading should be careful about the types of orders they place in the market. In the stock market, there are two types of orders: market orders and limit orders.

    All types of investors and traders commonly use market orders. This directive instructs your broker on which stocks to buy or sell, as well as the number of shares to purchase. The platform will search until it finds the best buy or sell price and then execute the transaction.

    Limit orders, on the other hand, require execution at the day trader's specified price. This way, you can buy or sell the asset at your desired price. The disadvantage of these orders is that if the price set on the platform is not met, the order is not executed.

    Using limit orders in intraday trading may lead to missed opportunities. However, for beginners, this is the most effective way to protect their investment

  • 19. Set realistic profit targets in your trading strategies

    Day traders typically achieve a success rate of 50–60%. Good end-of-day results indicate that winning trades outperformed losses.

    If you're new to intraday trading, limit your losses by placing your orders properly. Evaluate your risks.

  • 20. Take advantage of technology

    With thousands of traders using advanced systems, you must be constantly tech-savvy and adhere to the economic calendar. Charting platforms provide a variety of market analysis features. 

    Backtesting programmes are becoming more sophisticated, delivering more accurate results for any given strategy. If you can afford it, invest in premium tools to boost your performance

  • 21. Don't fall prey to psychological biases

    Throughout the trading day, market movements will put your temperament, balance, and commitment to your trading strategy to the test. Whether you're winning or losing, psychological biases can influence you. Do not let fear take over.

    If your positions are going well, avoid greed and follow your orders. In day trading, emotions can be an unreliable advisor.

  • 22. Always keep learning

    A successful trader never rests on their laurels; they constantly strive to improve their performance and attitude. To accomplish this, they must keep up with market news, read trading books, and conduct ongoing research.

Best day trading strategies for long-term success

There are numerous ways to approach the market, the majority of which involve technical analysis.

To be a successful day trader, you must create a systematic trading plan that details the instruments to trade, timeframes, risk management, and trading objectives. You must thoroughly document this plan and strictly adhere to it.

The trading strategy also incorporates risk management. How much of your capital are you willing to risk on a position? When will you end your trading session? Your trading strategy should incorporate all the answers to these questions. The more comprehensive it is, the better organised and disciplined you will be during your day trading venture.

Intraday trading necessitates that the trader move quickly across the trading platform. But never in an improvised manner. All of your movements are predefined.

If you've done your homework, each step you take throughout the day will be part of your strategy. You leave nothing up to chance or your feelings.

Your day trading operations have a clear direction, as outlined in your strategy. Never go against it. That is why, before you start real trading, you should test your strategies on paper .

Having a trading plan is beneficial, but you must ensure that you are prepared to follow it to the letter and implement the tips mentioned below, without external influence or hesitation.

Use your trading plan to determine the justification for your closed positions. You should record errors in your trading journal.

Day traders typically use a variety of strategies. Here are the major ones:

1. News day trading

News trading occurs when a trader enters and exits the market before or after the release of a significant economic statistic in order to capitalise on maximum volatility. 

Inflation, employment, and growth figures are among the movers' that have the greatest impact on markets because they influence central banks' monetary policy decisions.

The news day trader takes advantage of the price action response following the release of economic indicators or events that alter market conditions.

The chart above shows that the EUR/USD begins to fall following the release of worse-than-expected employment data in Germany. An informed day trader can profit from this sharp downward movement by selling the pair.


  • allows for rapid gains.
  • takes little time. 


  • Spreads may widen following news releases.
  • Stops may be hit quickly.

2. Trading chart patterns

Triangles, rectangles, and wedges are examples of chart patterns that emerge over shorter time periods. The breakout of a descending triangle on the 5-minute chart below (M5) demonstrates a relatively rapid movement following a chart pattern breakout. A sharp price decline follows the breakout.


  • Trading signals are easily identified.
  • Breakouts are followed by sudden movements.


  • Patterns over shorter time intervals are less reliable.
  • Pattern formation may take several hours.

3. Scalping

Scalping is a type of day trading in which traders profit from minor fluctuations in financial assets. Scalpers are less demanding than the average day trader and take profits as quickly as possible.

The scalping method above uses two exponential moving averages (EMA 20 and EMA 30) on a one-minute chart (M1). 

The idea is to capitalise on a trend by opening a position each time the price action retraces within the two moving averages.


  • Allows for rapid gains.
  • Limited exposure.


  • A stressful trading style.
  • Expensive trading (commission fees).

4. Momentum day trading

Momentum trading entails taking advantage of a trend. The trader attempts to buy or sell in line with the trend. 

Using a variety of indicators, you can accurately determine when to open a position.

The chart above shows a bearish trend. Using a trendline, a day trader can find good timing by selling the instrument when its price crosses the trendline.


  • Always trade on the short-term trend side.
  • Provides a favourable risk-reward ratio. 


  • Trends shift frequently.
  • Ineffective when the market has no clear direction.

To open a position, the trader waits for a trend pullback.

5. Mean reversion

The concept of mean reversion is simple. When price action moves in one direction for an extended period of time or at a rapid pace, it tends to return to roughly previous levels. 

The chart above depicts an example of rapid extension. The price action exiting the Bollinger Bands suggests a strong move. The price then stabilised, gradually returning to the base of the initial rise.


  • clearly identifiable signals.
  • Most of the short-term extensions have been corrected.


  • The extension may continue after your arrival.
  • The trend could continue.

Intraday traders can profit from price movements between highs (supports) and lows (resistances) during a sideways trend in which neither buyers or sellers have market control.

Other day trading strategies

1. Range trading

Day traders use technical analysis to identify areas of support and resistance, also known as range trading. This strategy allows you to open a buy position when the asset's price breaks above resistance or a sell position when it breaks below resistance.

2. Breakout trading

Breakout trading in day trading entails buying or selling an asset when its price reaches a critical level and accelerates significantly. With this strategy, you must consider trading volume and liquidity.

Breakout trading enables traders to profit from price acceleration when an asset crosses or breaks a critical price level. 

3. Day trading with margin

By borrowing funds from a broker, you can take positions that exceed your capital. Many day traders use leverage to increase their profits. In day trading, buying on margin essentially means borrowing money from the broker to take larger positions.

The majority of traders engage in margin trading, but this  means that your gains and losses will multiply. It's a phenomenon associated with increased risk.

To achieve the best results, you must ensure that certain market configurations exist, such as consolidation before a breakout and an increase in trading volume during price acceleration, indicating investors' willingness to support prices as far as possible.

How does this work?

If you want to buy $1000 worth of stock, you can put up $500 and borrow the rest from your broker. If you bought the stock at $10 per unit, it rose by 20% to $12, and if you sold it at that price, you'd have $1200.

After repaying the $500 loan to the broker, you would have $700 remaining, representing a 40% return on your initial $500 investment.

Without the borrowed funds, your return would have been 20%.

If the stock price had fallen by 20%, the same reasoning would apply. If you'd sold for $8, you'd have only $800. After repaying the $500 to the broker, you'd have $300 left, representing a 40% loss on your initial investment.

This example does not account for other trading fees.


In conclusion, good risk management methods, methodical execution, and successful trading strategies are the three pillars upon which successful day trading rests. There is a considerable degree of risk involved with day trading, which, if not handled correctly, may result in large losses despite the great degree of profit potential.

Day traders must weigh the pros and cons of this trading strategy before committing to it. Day trading isn't for everyone, and few traders really turn a profit over the long haul.

Successful day traders have found that following these guidelines has helped them tremendously in overcoming market complexity and increasing their chances of success. 

Keep in mind that day trading does not provide a quick way to get rich; rather, it demands commitment, self-control, and continuous learning in order to attain steady profits.