Many beginner traders start their journey to success with intraday trading. Probably they master these strategies because the result can be known at the end of the working day instead of a week later. Day trading or intra-day trading involves the execution of short-term contracts, when the transactions can be made within 5 minutes, an hour, 4 hours... For such a trade, a trader can have a small working capital, but quickly react to the behaviour of the currency rate and watch out. Intraday trading allows you not to get large losses due to incorrect predictions. 
 
We will now show you several examples of popular and working strategies for intraday trading.

• The London Breakout

 
The London Breakout a simple strategy for day trading. It`s based on the fact is that when the London session opens, the market is more active so trades are open within the first 1-3 hours. It`s working for major currency pairs such as EUR/USD, GBP/USD, USD/CAD. The recommended time frames for trading are M15 or M30. Note that no indicator is required, only support and resistance based on several previous candlesticks in the Asian session.
 

• Momentum Trading

 
Momentum trading is a strategy that uses the strength of price movements as a basis for opening positions. 
Momentum traders will seek to identify how strong the trend is in a given direction, then open a position to take advantage of the expected price change and close the position when the trend starts to lose its strength. 
Momentum in finance is based on the following key factors:

1. Volume
2. Volatility
3. Time frame

Popular indicators for momentum trading include the momentum indicator, the RSI, MAs, and the stochastic oscillator.
 

• Trend Trading

 
Trend trading is a strategy that investors use to make money by carefully evaluating the direction of different asset prices during the day. After evaluating the position of certain securities, you use the trends to buy or sell depending on which direction the market is moving in. If the trend goes up, with the prices getting higher and higher, then you would buy the asset and hope for the best. On the other hand, if the trend is moving downwards, you’d sell and cut your losses. The trend trading strategy can be used in virtually any investment campaign, not just day trading. After all, you can keep your position open for as long as the trend continues in the right direction. However, if you’re day-trading, you close your position before the day is over.
 

• Swing Trading

 
With a swing trading strategy, you take advantage of the short-term patterns in prices on the market. Swing traders look to make movements from the smaller up and down movements that happen during a short period of time. While most long-term investors and trend traders take advantage of the differences in the market that happen over several hours, the swing traders are looking at the small reversals in price movements that can take place in minutes. The key is to try and spot these reversals before they happen.
 

• Scalping

Furthermore, scalping is another day trade strategy that suggests using short and frequent movements to make profits – often with a focus on a high win rate, rather than just a few huge wins. The idea is that you can build a big account by earning small profits constantly, rather than just waiting around for opportunities to make large amounts in one go. There’s a very strict exit strategy required with scalping, as your losses can easily exceed the profits if you don’t act with caution. Most scalpers will also close their positions before the end of the day to avoid losing out on their profit margins due to overnight changes.
 

• The moving average

 
Apart from all the strategies, you can easily day trade with the help of the indicator the moving average. It`s known to be reliable due to using both fast and slow moving averages. Buy trade is open when the faster one crosses the slower one. This intersection occurs from the very bottom to the top.
 

• Elder's Triple Screens

 
The last but not least is Elder's Triple Screens strategy. which is considered to be one of the classic ones. It entails 3 phases:

• Tide – helps to determine the market trend (15M); 
• Wave – helps to detect price correction (1H); 
• Entry – used to determine the exact entry point for the trade (4H).

In other words, three screens in one bundle allow: determine the current market trend on the first screen; to find its confirmation on the second screen; enter the trade in the same market direction on the third screen.
The stability of the "Triple Screens" strategy is ensured by filtering the signals and entering the market at the moment when the curve of the three screens chart shows the same direction of the price movement. According to the Elder himself, the stability of his strategy is guaranteed if the trader observes the "Rule 5". When choosing the charts for the triple screen system, use the "5" coefficient and remember that the relative base timeframe:

• The senior timeframe must be 5 times larger;
• The lower timeframe is 5 times smaller.

The most challenging thing here is to identify on the first two screens the conditions necessary to move to the third screen in time.
 
Day trading is not something super easy, it requires skill, discipline, and intense focus. Many of those who try it fail, but with enough practice and regular performance evaluation, you can considerably increase your chances of beating the odds.