10 Mistakes Traders Make While Using Free Intraday Tips

Intraday trading is exciting, fast-paced, and full of potentialespecially when you're just getting started. Thanks to the internet, a huge number of free intraday tips are now easily accessible to anyone with a smartphone. These tips promise to help you identify high-potential trades and enter/exit at the right levels.

But despite this abundance of free advice, the majority of retail traders still end up losing money. Why? Because they fall into common traps and repeat the same mistakesagain and again.

In this article, well break down the 10 most common mistakes traders make while using free intraday tipsand how to avoid them.

Mistake #1: Blindly Trusting the Source

Many traders follow tips shared by anonymous Telegram admins, influencers on Instagram, or unknown voices on WhatsApp. They assume that if someone shares a tip, they must know what theyre doing.

Reality: Most of these sources have no accountability. Some even manipulate stock prices in illiquid counters.

Fix: Only follow tips from verified educators or platforms with a history of transparency and logic behind their calls.

Mistake #2: Ignoring Stop-Loss Instructions

Some tips include a stop-loss level, but many traders either:

• Dont place it at all

• Keep modifying it

• Exit only after the loss becomes huge

This is a fast track to blowing up your trading capital.

Fix: Always set a stop-loss before entering a trade. Respect it, no matter what. It's your insurance against major damage.

Mistake #3: Overtrading Based on Every Tip

One of the biggest traps is acting on every free intraday tip that comes your way. This leads to multiple open positions, divided attention, and emotional stress.

Fix: Select only 1 or 2 tips that align with your strategy. Less is more in intraday trading.

Mistake #4: Trading Without a Plan

Most beginners take trades without asking:

• Whats my risk-to-reward ratio?

• Whats my exit strategy?

• What will I do if the trade moves against me?

This lack of planning leads to impulsive decisions.

Fix: Treat each trade as a business transaction. Have a clear entry, stop-loss, target, and position size before you act.

Mistake #5: Not Verifying the Tip Technically

Free tips often lack context. They may tell you to buy XYZ stock at ?100 with a target of ?105, but they dont explain why.

Fix: Learn basic technical analysis. Use indicators like VWAP, RSI, or moving averages to see if the tip makes sense. Never trade a tip that doesnt pass your own technical check.

Mistake #6: Getting Emotionally Attached to Tips

Some traders keep following a tip provider even after multiple losses, simply because they made a few good calls earlier.

Others refuse to exit a bad trade because they believe the tip will still work.

Fix: Stay objective. If the trade hits your stop-loss or violates your rules, exit without hesitationregardless of who shared the tip.

Mistake #7: Ignoring Position Sizing

Many traders put a large chunk of their capital into one trade based on a tip they feel confident about. If the trade goes wrong, the damage is huge.

Fix: Follow proper risk management. Never risk more than 12% of your total capital on a single trade.

Mistake #8: Chasing Missed Entries

A common habit is seeing a tip at ?100, but by the time you enter, the stock is already at ?102. Still, you enter hoping itll go to ?105.

Now the risk is higher, and the reward is smaller. Youve destroyed your risk-reward ratio.

Fix: If you miss the entry zone, skip the trade. Another opportunity will come. Dont chase the bus after its left the stop.

Mistake #9: Following Too Many Sources

Its tempting to join multiple channels, follow multiple YouTubers, and receive multiple tips each day. But this leads to information overload.

Different sources will give conflicting tips. Youll feel confused, indecisive, and anxious.

Fix: Follow just 1 or 2 reliable sources. Quality of information is more important than quantity.

Mistake #10: Not Keeping a Trade Journal

Most traders dont track their trades. They forget why they took a trade, what went wrong, or what couldve been better.

Without tracking, theres no learning. And without learning, you keep repeating mistakes.

Fix: Maintain a simple trade journal. Note the tip, entry, exit, P&L, and what you learned. Review it weekly.

How to Make the Most of Free Intraday Tips (The Right Way)

Heres a quick checklist to avoid the mistakes above and use free tips wisely:

• Verify the tip with technical analysis
• Check if risk-to-reward is favorable (at least 1:1.5)
• Only trade if the tip fits your time slot and volatility comfort
• Place stop-loss and target as soon as the trade is taken
• Avoid trading more than 23 positions per day
• Journal every trade and outcome
• Exit emotionally charged trades immediately

By using this checklist, youll transform from a reactive trader to a proactive one.

Final Thoughts

Free intraday tips are not good or bad on their own. They are simply pieces of information. What matters is how you use them.

Most traders lose money not because the tips are wrong, but because they approach trading without discipline, without structure, and with unrealistic expectations.

If you can avoid these 10 common mistakes and build a system around the tips you follow, you can give yourself a real chance to trade profitablyeven with free advice.

Remember, in trading, the edge doesnt lie in the tipit lies in your execution.