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  1. Originally Answered: What are the best tips for day trading?
    Identify a strategy which has a slight edge. A 60% success ratio in it would be a decent strategy which would cover brokerage costs.
    Ensure you backtest with data from reliable sources preferably over a period of one year.
    Once the strategy is identified & back test shows positive results, start paper trading for a month to test the hypothesis.
    If your comfortable you may start trading in equity with one stock for a few days before scaling up till you can trade the same in futures contracts.
    Maintain an excel sheet with trades on a daily basis to see how well your doing.
    Risk management is important for capital protection to ensure you have cash to continue trading.
    Keeping human emotions in check & not revenge trade if trade goes wrong.
    Always use a discount broker like Upstox or Zerodha to reduce brokerage.
    Consistency & Dedication to trade everyday & power through on bad days & not leaving in between if you have a few bad days.
    Lastly, intraday trading is like like any business, there will be good bad & ugly days. Just keep calm & take one day at a time. Your going to do this for a long time, don’t chase big returns, chase small consistent returns & you will be profitable in the long run.
    Don’t let intraday trading consume you. Its just a tool to make your life easier so just enjoy & all the best.

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