Intraday trading moves at a comparatively higher speed; this fast pace can either be a reward or a punishment for one, depending on the setup and the available tools. The first steps to successful trading begins with finding the suitable broker and creating an assertion suitable for trading. Mastertrust is one such useful service trying to ease the process for Indian retail traders.
This easy guide on mastering intraday trading will assist you from broker selection to developing a suitable trade environment.
Why Choosing the Right Broker Important?
Your broker isn’t just a service provider, they’re your trading partner. Here’s what you should look for:
1. Less Brokerage Fees
Intraday trading involves continuous buying and selling and when such transactions involve brokerage, it becomes a huge cost. To keep costs low for high-volume traders, Mastertrust offers zero brokerage schemes.
2. Speed and Reliability
At times in intraday trading, decisions have to be made exceptionally faster. Hence your broker must provide a fast and reliable platform. Mastertrust web and mobile platforms are designed for speed of execution with real-time data feed.
3. Smart Tools and Analytics
What makes Mastertrust different from other platforms is its integration of all the charting through TradingView, along with screeners, technical indicators, and strategy backtesting, all in one place. These are essential to spot trends and make decisions.
4. User-Friendly Experience
A clean design, easy navigation, and lag-free interactions are advantageous for any user. Mastertrust helps new traders get a hold of the platform, while professional traders appreciate the vast features.
If you’re still looking at different options, you can compare Mastertrust with other top stock brokers in India to see which one suits you best before making your final choice.
Setting Up Your Trading View
Once your account is ready, it’s time to set up your workspace for intraday trading.
1. Enable Trade With the Best Technical Charts
Integrated into Mastertrust, TradingView allows users to access the most effective technical charts. Customise your layouts, compare stocks, and apply indicators that you want, including RSI, MACD, Bollinger Bands, and more.
2. Set Price-Alerts
Intraday trading is a matter of standing at the right time. When the target level hits the stock, the alert goes off, and one can enter again into the trade instead of watching the screen all day.
3. Create Watch List
Maintain separate watchlists for thinly traded stocks and those influenced by recent news to ensure better focus and informed decision-making. Mastertrust makes sorting and filtering these watchlists easy, so you can hone in on the opportunity.
4. Use Screeners
The built-in stock screeners enable you to filter stocks based on volume, price action, and technical patterns, helping you save time and maximise your ability to identify optimal entry and exit points.
5. Run Strategy Tests
Evaluate your intraday strategy using demo trading or backtesting tools before deploying it in the live market. This approach helps you refine your strategy and decision-making process without putting real capital at risk.
Conclusion
Preparation, speed, and wise decisions are what intraday trading is all about. However, one of the primary decisions is broker selection, which sets the foundation for MasterTrust to equip you with all that can be provided: brokerage-free, fast execution, pro charts, and smart analysis tools. The high-octane ambience of TradingView puts you in a position to learn intraday trading in India, one trade at a time.
