How to develop conviction in intraday trading

i lack conviction in intraday trading. i actually take a trade bracket order, leverage futures, and mis.
i sometimes actually take trade at 9:30 in the morning, s it right or do i need to wait till the market direction becomes clear.
i actually take right trades but the size of profit is very small.
how do you trade intraday, futures, any specific strategy for catching large gains.
how to develop that conviction that the price will touch my buy point and will turn in profit, do i need to buy and let the price swing all day till my target is achieved.
how to develop that conviction and not let the price have any adverse effects on my conviction if the price goes in wrong direction?

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you should become smart trader. :slight_smile:


@smartinvestor it would be very difficult to summarize a lot of aspects related to the conviction.
I have been reading this book called “Trading For A Living” by Elder Alexander which is a good read to understand how to,

  • become loss averse, overcome greed and fear,
  • use technical analysis to enter and exit trades,
  • market mentality, and so on and on and on…

It is helping me a lot. Hope you find it interesting too!

thanks, a lot, i will try this,
happy trading to you.

The answer to your question depends on a lot of factors like (1) How much you are making and how much do you expect? (2) How do you know profit is small? Did you compare it with other fellow intraday investors? (3) What is the trading experience, and in the same experience and knowledge depth, how much other traders are making with the same amount of investment (4) Irrespective of the number of days/months/years you spent, what is the effort you have put to understand more deeply into it, (5) Do you analyze your trades? If there is a loss, then why? If there is a small profit, what is the reason?

There is no substitute to self efforts and analysis for improvement.

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