How to Create Your Own Intraday Strategy Using Free Tips as a Starting Point

For beginners entering the stock market, free intraday tips seem like a gift. They're everywhere—Telegram channels, YouTube videos, WhatsApp groups, and even Instagram reels. You get buy/sell suggestions, target prices, and sometimes a little chart to guide you. But after a few weeks of following random tips, many traders find themselves confused, frustrated, and—more often than not—at a loss.

So, what’s the smarter way to use free tips?

The answer: Use them not for trades, but as reference points to build your own intraday trading strategy. A system that fits your personality, your risk tolerance, and your learning curve.

In this article, we’ll show you how to start with free tips and gradually develop your own structured approach to intraday trading.

Why Just Relying on Tips Doesn’t Work

Before building your strategy, it's important to understand why blindly following tips fails in the long run:

• You don’t know the logic behind the trade

• You're unsure how to react when the market moves against you

• You become dependent and stop learning

• There's no consistency in results or process

The solution isn’t to completely discard free tips—it’s to use them as raw data for learning and system-building.

Step 1: Study and Track the Tips

Start by collecting free intraday tips daily—ideally from a few reliable and consistent sources. Create a basic tracking sheet with these columns:

• Stock name

• Tip type (Buy/Sell)

• Entry level

• Target & Stop-loss

• Time given

• Actual high/low of the day

• Result (Hit target / Hit stop-loss / No trade)

• Comments

After doing this for 2–3 weeks, you’ll notice patterns:

• Which setups work frequently?

• What time of day the best tips are shared?

• Which sectors or stocks are repeated often?

This gives you your first base of analysis.

Step 2: Learn Basic Technical Indicators

To move from a follower to a thinker, you need a basic understanding of technical tools. You don’t have to master every chart pattern, but these five are enough to begin:

• VWAP (Volume Weighted Average Price) – Helps spot institutional buying/selling

• Support and Resistance Zones – Identify key levels for entry or exit

• EMA (Exponential Moving Average) – Gives trend direction

• Volume Analysis – Confirms breakout or breakdown strength

• RSI (Relative Strength Index) – Helps avoid overbought/oversold traps

Now, when you receive a tip, you can run it through these filters. If a “Buy” tip aligns with bullish indicators, it's a green flag. If not, skip it.

Step 3: Define Your Entry Rules

From your observation and technical learning, build a rulebook. Example entry rules:

• Only trade after 9:30 AM (to avoid volatility)

• Enter a long trade only if the price is above VWAP + EMA crossover

• Enter short trades near resistance with a confirmation candle

• Avoid any stock below ₹100 (to eliminate penny stocks)

These rules are based on your comfort, not someone else’s success.

Step 4: Set Risk and Position Size

You don’t need to win every trade—you just need to protect your capital. Define:

• Maximum risk per trade (e.g., ₹500 or 1% of your capital)

• Stop-loss distance based on volatility or candle size

• Lot size adjusted to maintain fixed risk

• Risk-Reward Ratio (minimum 1:1.5)

You’ll often notice free tips ignore these factors, but your custom strategy will treat them as non-negotiable.

Step 5: Create a Trading Routine

Once your system is ready, test it in a structured routine:

1. Pre-market (9:00–9:15 AM): Mark support/resistance for Nifty/BankNifty, scan for gap up/down stocks, review tips.

2. Trade Time (9:30–11:30 AM): Take only setups that match your rulebook—even if a tip looks tempting.

3. Post-market (3:30–4:00 PM): Review charts, update journal, rate trade quality—not just P&L.

Over time, you’ll stop caring about tips and start trusting your own process.

Step 6: Build a Trade Journal

Every professional trader keeps a journal. For every trade you take (even tip-based), write down:

• Why you took it

• Where you entered and exited

• What you did right or wrong

• Whether it matched your system

Within 30 days, your journal will teach you more than any course or free group ever could.

Step 7: Evaluate, Adjust, and Scale

Once you have 20–30 real or demo trades using your system, calculate:

• Win rate (number of wins / total trades)

• Average Risk:Reward

• Emotional control on stop-losses or early exits

If you're profitable on paper or in small lots, start scaling slowly. If not, adjust one rule at a time and continue testing.

Remember, a good system evolves. Don’t chase perfection—chase progress.

Tips for Beginners Using Free Intraday Tips as a Guide

• Don’t follow more than 2–3 tip sources

• Avoid stocks with poor liquidity

• Focus on quality setups over quantity

• Don’t fear missing trades—focus on learning

• Avoid tips that don’t provide stop-loss

• Stick to large-cap or liquid mid-cap stocks in the beginning

Final Thoughts

Free intraday tips are not a shortcut to riches. But when used wisely, they can become the building blocks of your personal strategy.

You don’t need 100% accurate tips. You need a system where:

• You win more than you lose

• You lose small and win big

• You grow through observation, analysis, and reflection

So, instead of asking “Which tip should I follow today?”, start asking:
“How can I use this tip to sharpen my own trading edge?”

Because in trading, success doesn’t come from someone else’s confidence—it comes from your own clarity.