Intraday Trading Strategies: What Actually Works When You're Trading the Same Day

I used to hold positions overnight.

Then I'd wake up to gaps. Sometimes in my favor. Often not. That 3 AM news event? That whale dump while I was sleeping? Yeah, those hurt.

So I switched to intraday. In and out the same day. No overnight risk. No surprises.

Different game. Different rules.

What Makes Intraday Different

Intraday trading means opening and closing positions within the same trading session. No overnight holds.

This changes everything:

Faster decisions. You don't have days to be right. You have hours. Sometimes minutes.

Smaller moves. You're capturing intraday swings, not multi-day trends. Targets are smaller.

More noise. Lower timeframes have more random movement. More false signals.

No gap risk. You're flat overnight. No surprises when you wake up.

Higher frequency. More trades per day. More opportunities. More chances to mess up.

The Intraday Edge

Here's what actually works for intraday trading.

1. Trade the Open

The first hour of a session is the most volatile. Most volume. Biggest moves.

I focus my energy here. The patterns are cleaner. The moves are bigger.

After the first hour, I often step back. The midday chop is a account killer.

2. Key Levels from Higher Timeframes

Even though I'm trading intraday, I identify levels from daily and 4H charts.

These levels matter. When price approaches a daily level, intraday traders react. The level provides context for my intraday trades.

3. Session Highs and Lows

The high and low of the current session are important levels.

Break of session high = bullish momentum. Break of session low = bearish momentum.

I watch for these breaks and trade the continuation.

4. VWAP as Anchor

VWAP (Volume Weighted Average Price) is my intraday anchor.

Price above VWAP = bullish bias. Price below VWAP = bearish bias.

I don't fight VWAP. If price is above it, I look for longs. Below it, shorts.

My Intraday Strategies

Strategy 1: Opening Range Breakout

The first 15-30 minutes establish the opening range. Then I trade the breakout.

Setup:

1. Mark the high and low of first 30 minutes
2. Wait for breakout of the range
3. Enter on breakout with stop at opposite side of range
4. Target: 1-2x the range height

Simple. Effective. Works best on trending days.

Strategy 2: VWAP Pullback

In a trending day, price pulls back to VWAP and bounces.

Setup:

1. Confirm trend direction (price above/below VWAP)
2. Wait for pullback to VWAP
3. Look for rejection candle at VWAP
4. Enter with stop beyond VWAP
5. Target: Session high/low or previous swing

I automate this with dashpull. Price within 0.3% of VWAP + rejection candle + trend confirmed = enter.

Strategy 3: Failed Breakout Fade

False breakouts happen constantly intraday. I trade them.

Setup:

1. Price breaks session high/low
2. Immediately reverses back inside
3. Enter fade trade (short after failed high break, long after failed low break)
4. Stop: Beyond the failed breakout
5. Target: VWAP or opposite session extreme

The trapped breakout traders provide the fuel.

Intraday Timeframes

What timeframes do I use?

5-minute: My execution timeframe. Where I take entries and manage trades.

15-minute: My setup timeframe. Where I identify patterns and levels.

1-hour/4-hour: My context timeframe. Where I understand the bigger picture.

I don't trade 1-minute charts. Too noisy. Too stressful. Too many false signals.

The Intraday Routine

Here's my actual daily routine.

Pre-market (30 minutes before open):

• Review daily chart for key levels
• Check overnight price action
• Identify potential setups for the day
• Set up conditional orders in dashpull

First hour:

• Active trading
• Focus on opening range breakout
• Take 1-3 trades maximum

Midday:

• Step back
• Review morning trades
• Adjust afternoon plan if needed
• Often don't trade at all

Last hour:

• Look for end-of-day moves
• Close any remaining positions
• Never hold overnight

Intraday Risk Management

Intraday trading requires strict risk management.

Per-trade risk: Maximum 0.5% of account. Smaller than swing trades because frequency is higher.

Daily loss limit: Maximum 2% of account. If I hit this, I'm done for the day.

Trade limit: Maximum 5 trades per day. Prevents overtrading.

Time limit: No new trades in the last 30 minutes. Prevents holding overnight accidentally.

These rules are non-negotiable. They've saved my account multiple times.

Common Intraday Mistakes

Mistake 1: Overtrading

"There's always another setup!"

No. Quality over quantity. 2-3 good trades beat 10 mediocre trades.

I have a trade limit. When I hit it, I'm done. Even if I see more "setups."

Mistake 2: Trading the Chop

Midday is usually choppy. Low volume. No direction. False signals everywhere.

I avoid midday trading. The first and last hours are where the money is.

Mistake 3: Holding Losers

"It'll come back before close."

Maybe. Probably not. And you're tying up capital and mental energy.

Cut losers fast. There's always another trade.

Mistake 4: No Daily Loss Limit

One bad day can undo a week of profits.

Set a daily loss limit. When you hit it, stop. Come back tomorrow.

Intraday vs. Swing Trading

Which is better? Depends on you.

Intraday is better if:

• You can dedicate focused time during market hours
• You prefer no overnight risk
• You like faster feedback
• You can handle the intensity

Swing trading is better if:

• You have a day job
• You prefer less screen time
• You're okay with overnight risk
• You want bigger moves

I do both. Intraday when I have time and focus. Swing trades running in the background via dashpull.

Automating Intraday Trades

Some intraday setups can be automated. Others require real-time judgment.

What I automate:

• VWAP pullback entries
• Opening range breakout triggers
• Key level alerts

What I do manually:

• Reading price action at levels
• Adjusting to market conditions
• Managing active positions

dashpull handles the automated part. It watches for my conditions and executes. I focus on the discretionary part.

The Bottom Line

Intraday trading is intense. Fast decisions. Smaller moves. More noise.

But it also offers no overnight risk and daily feedback on your performance.

The keys:

• Trade the open and close, avoid midday
• Use higher timeframe levels for context
• VWAP as your intraday anchor
• Strict risk management (daily loss limits)
• Don't overtrade

dashpull helps me execute intraday setups systematically. Conditions defined. Execution automated. Emotions removed.

The market is open. Let's trade.

Ready to automate your intraday strategy? Try dashpull →