Do' and Don'ts of Intraday Trading

1. Intraday trading is independent each day irrespective of how it was yesterday, week before, and month before. It has to be tracked every day in the right fashion depending on the market that day.
2. Track the market each day.
3. If you are a new trader, it is better to do dummy trading first. There are a number of online sites available http://moneybhai.moneycontrol.com/. Once you are comfortable and have favorable winning position, you can go with real trading.  A suitable position is when you have 70% of positions against the losing ones.
4. Target low brokerages. High brokerages can eat into your profits.
5. If you are a new trader, do not hold long positions as they are riskier and in the end, you can lose more. Calculate the amount of profit after deducting brokerage and set the target buy/sell price accordingly.
6. Rule for new traders, should be not holding stock for more than 15 minutes.
7. Avoid greed to earn money. This can lead to more losses as market changes situation within minutes.
8. Experience traders can hold long positions.
9. Always put a stop loss on trade to avoid losing money.
10. Track the index. 
11. If the index is negative, do short sell stocks. If the index is positive, buy stocks.
12. It is not necessary that a stock that is weak today may be weak tomorrow and vice versa.
13. Select stocks that have large volumes traded, like greater than 5, 00,000.
14. Never follow anyone else advise, follow your own approach.
15. Do not over invest. Stick to a limited amount of money.
16. Avoid trading in highly volatile markets. It can lead to huge losses.
17. Monitor your weekly and monthly progress. Revise your approach if your earnings are not in positive.
18. Trade in a fixed lot.
19. Do not invest if you cannot track your progress regularly.
20. Happy Trading Everyone.