I think you got me wrong. I am not a day trader. I was talking about risk management. Basic rules of short term trading- 1. Do not assume a break and jump in (this means an appropricte tip is placing it when the setup says it's ready to go). 2. Never chase. Strong stocks move hard when they break. This means a quality tip can be punished by giving it a much higher entry price. This will also force people place multiple premature tips.
This didn't matter much until recently because the market was bad. If we see the current strength remain, above principles are vital. Last year I placed a lot of such tips(I didn't buy some. Others- I got stopped out). They failed mainly because the entry was early.
EOD data should have previous day's intraday price action. So I think entry can be adjucted based an intraday timeframe (5min or 1 min ). Hope you didn't get me wrong. Not being a pain... It's a suggestion.
