Good day trading strategies include good stock selection. Day trading is most profitable when there is neither a gap up opening or a gap dow opening. The key signals to be noted for day trading are usually on the intraday charts. Setting up of the intraday chart also is another criteria for efficient day trading. Selection of stocks is another criteria for day trading. Placing stop loss is an efficient way to avoid trades going against your trend. Never place a trade for the first half an hour of trade as the markets try to assume a trend or direction on the trading day. Taking or booking profits is of utmost importance of day trading.