Same-day square-off, margin mechanics, STT and the small set of habits that separate consistent intraday traders from the rest.
Key takeaways
- Intraday positions must be squared off before the session close or the broker does it for you.
- Costs — brokerage, STT, exchange charges, GST and stamp duty — meaningfully change a scalper's break-even.
- A fixed rupee risk unit and a hard daily stop matter more than entry technique.
Intraday trading means opening and closing a position within the same session. Nothing carries overnight, so gap risk disappears — and so does the ability to wait out a bad entry. Brokers auto-square-off open intraday positions near the close, usually at whatever price the market offers, which is rarely the price you wanted.
The cost stack matters more than beginners expect. Brokerage, exchange transaction charges, GST on those charges, SEBI turnover fees, stamp duty and securities transaction tax all land on every round trip. A strategy that averages six ticks of edge can be perfectly profitable on paper and negative after costs.
The routine that works is unglamorous. Pick one instrument family and one window — the first ninety minutes is the most common — and define your risk unit in rupees before the open, not as a percentage you recalculate mid-trade. Take the trades your plan describes and stop after two consecutive losses.
Track two numbers weekly: average loss versus average win, and number of trades taken outside your plan. Almost all improvement in the first year comes from shrinking the second number, not from finding a better indicator.
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