How to Use Neostox for Intraday (Equity) Trading in India (Virtual Trading Only)

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Are you thinking about relying on a paper trading platform like Neostox to improve your skills in intraday trading in equities in India?

Yes, of course, Neostox is an incredible option for you to test your strategies and manage your trial-and-error stuff in trading, especially intraday and options trading.

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I have already discussed how to use Neostox for learning options trading in India, and here I would like to check out how you can use the famous paper trading platform to improve your intraday (equity) trades.

Warning: I am not a professional trader or financial advisor of any kind. Only a retailer trader with a passion for writing and blogging. My writings on this blog and other connected platforms are meant for educational purposes only. Learn more here. Make sure you base your decisions solely on your convictions and studies. 

Well, there are different ways of doing intraday trades in the stock market. You can do intraday trades in options, and here, as you can see, I talk about intraday trades in stocks. As you might know, the key advantage of intraday trading in the REAL market is the leverage involved in it.

Since you can place an increased number of stocks with a fraction of their overall value, you naturally get an increased chance for manifold profit, provided that you get a better idea about managing your trades. Or there is indeed a chance for increased loss, too.

Is There Intraday (Equity) Trading in Neostox?

On Neostox, the concept of intraday trading doesn’t actually work as it does in your real market terminal. It is because you use the platform to trade any stocks with your virtual money, which is a minimum of 5 lacs even in the basic plan of INR 250.

It means you don’t need any leverage over there, but you can use the virtual money to buy and sell any stocks you wish to. If you want more virtual money, it costs only INR 25 to simply get an additional 2.5 lacs on Neostox. And if you have the top-tier Gold panel, you can trade with your hearts out as you have unlimited capital there.

In other words, you are already ‘mega-leveraged’ on a paper trading platform to do intraday trades of any size and volume as you wish.

But you can only learn things if you use such platforms smartly by diligently following the same strategies you wish to later apply in the real market. Or it will be totally useless.

How to Do Intraday (Equity) Trading in Neostox?

How to Do Intraday (Equity) Trading in Neostox

After logging into the platform, you can use the search bar to find the desired stock.

It will drop down all the related suggestions, from which you can choose the stock and place a buy or sell order, just like you can on a real-world trading terminal.

On the order window, you can see the intraday option (MIS) as well as the overnight option (NRML). You also get a chance to place orders at different price conditions: market, limit (manual), limit (auto), and stop limit.

It is also easy to place targets and stop losses along with your primary order. It gives you the freedom to smoothly test your strategy for trade by placing the whole set of parameters on a single go and waiting for the result for analysis at the end of the day.

Intraday on Neostox

After you place an order, you can watch it live under the ‘active positions’. There, you have the option to modify the parameters and make other changes to the open orders.

Once the order is complete, you can find it in the reports session, where you can filter your orders day-wise, giving you an amazing facility to analyze and monitor your past trades after market hours or sometime later.

Below, check out the screenshot of my order history on Neostox on October 13, 2023.

The report shows everything required to let you later analyze the trades and make changes to your strategies and setups.

Neostox Order History

Is Intraday (Equity) Trading in Neostox Worth It?

Yes, it does. If you are a serious learner, it is going to help you a lot. But make sure you don’t get any returns to your bank account, even if you earn a big fortune over there. That is only added to your virtual money bag, and you can’t use it to buy groceries anymore.

But it is all meant for practicing and learning.

My strong suggestion is that you can use a paper trading platform to test your strategies, along with trying the same strategies with minimal capital on a real market terminal.

More clearly, you can test intraday trading with a single stock or a single lot in options with perfect placement of stop losses and targets in the real market.

At the same time, you can punch more quantities of the same stock or strike on the virtual platform, which will certainly help improve your trading skills rather quickly.