Define your Risk.

The single most important skill to develop as a trader is the ability to cut losses. The one trading trap that will cripple any trader is the refusal to know and admit that any given trade is simply not working.

The only reason a losing trade happens is because at that precise moment you are on the wrong side of the Market. It really doesn’t matter how that happened, the fact is you are losing money. As long as you continue to remain on the wrong side of the market, your loss will continue to grow.If you do not liquidate the trade (take the loss), it would mean that you have lost control of your trading.

To ensure that you remain in control of your trading, define your risk. Define your risk starts with a stop loss for all your trades, but it is much more than that. One question you should ask when defining your risk is “How much do I really know about the F&O market?” If your honest answer is “Nothing, really,” then it would be a very good idea to commit to learning a basic understanding of what traders in that particular market focus on and what tends to cause a reaction in prices.

To trade a market without adequate knowledge is also a high risk activity. Knowledge comes from learning, education, practice. Your actual education process as part of your risk-reducing strategy. Can you honestly say that you are an expert on the market you trade? If not, then learning is an important step in risk reduction.

An Intraday trade in Nifty

here is a Nifty futures chart (taken Live while the markets are open), which shows an excellent buy signal for a 30 point gain. A Buy comes in the TA-Insync at 5528. Exit is done when C9 gives a reversal signal.
What is TA-Insync? It is a momentum+trend indicator. The C9 is a reversal method which identifies the end of a trend.
The purpose of this chart is to explain how intraday trades can be taken. Remember, not all days are like this. But, there are enough such days.