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Economy

Mastering Intraday Trading Strategy for Success With Traders Union

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mastering intraday trading strategy

Intraday trading is all about quick profits in the fast-paced world of finance. To succeed, you need effective Forex trading strategies. Traders Union (TU) experts are here to help you understand and use the top intraday trading strategies. They’ll share tips on how to spot the right times to enter and exit trades, allowing you to make the most of your opportunities and maximize profits in intraday trading.

Mastering intraday trading

TU’s analysts explained that intraday trading, also known as day trading, involves buying and selling securities within a single trading day. To begin intraday trading successfully, follow these tips:

  • Time sensitivity and analysis:

Focus on real-time charts and indicators.

Use shorter time frames for quick decisions.

  • Diverse trading strategies:

Choose strategies based on market conditions.

Explore scalping, range trading, and more.

  • Quick decision-making and time management:

Stay attentive and act swiftly.

Utilize tools like VWAP orders for efficiency.

  • Effective risk management:

Implement stop-loss orders.

Set clear profit and loss limits.

  • Profit potential and market understanding:

Be aware of market volatility.

Beginners should learn market analysis, risk management, and trend interpretation.

Intraday trading offers profit potential but requires caution and market knowledge.

The best intraday trading strategies

In Forex, it is imperative to use an effective intraday trading strategy. Experts at Traders Union have explored five key intraday trading strategies that experienced traders use. By understanding these strategies and their entry and exit points, you can make informed decisions and maximize profits.

  • Scalping with Bollinger bands – traders aim to make quick profits by identifying price volatility using Bollinger bands.
  • Breakout trading – this strategy targets price movements when they break through support or resistance levels.
  • Moving average crossover (using EMA 13 and 26) – traders use two moving averages to spot potential trend changes.
  • Pivot points – these indicators help identify support and resistance levels for effective trade planning.
  • Price action strategy – traders study price patterns and candlestick formations to predict future price movements and enter trades accordingly.

Advantages and disadvantages

Intraday trading, a fast-paced trading style, comes with its own set of pros and cons. TU’s experts outline the pros and cons of intraday trading:

Advantages:

  • Intraday traders can use margin accounts to control larger positions with less investment, potentially increasing profits if trades go well.
  • Successful intraday traders can create a steady income source by consistently making profitable trades and withdrawing profits daily.
  • Intraday traders close positions before the market closes, avoiding overnight risks, such as unexpected events or news.
  • Intraday trading allows traders to profit from short-term price changes and make multiple trades in a single day.

Disadvantages:

  • The market can deceive intraday traders, leading to overconfidence and eventual losses. Caution is essential to avoid impulsive trading.
  • Intraday trading requires strict discipline and risk management to prevent adverse effects on trading performance.
  • Intraday traders need proficiency in market analysis, chart interpretation, and emotional control. Consistency and continuous learning are crucial.

Intraday trading offers opportunities, but it also demands caution, discipline, and a dedicated skill set.

The effectiveness and profitability of intraday trading

Traders Union analysts highlighted that intraday trading can be profitable with the right strategy. Its profitability depends on factors like skill, knowledge, strategy, and market conditions. It has potential for profit but also risks. Traders must create a solid plan based on research and tested strategies. Understanding technical analysis, charts, and indicators is crucial. Staying informed about market news helps make informed decisions.

Conclusion

Intraday trading can be profitable with the right strategies, but it also comes with risks. To succeed, traders must be time-sensitive and use various strategies tailored to market conditions. Quick decision-making, efficient risk management, and market understanding are crucial. Traders can employ strategies like scalping with Bollinger Bands, breakout trading, moving average crossovers, pivot points, and price action analysis.

Economy

Ibeto Customs, Police Renew Joint Security Pact for Efficiency, Safety

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Nigeria Customs Service

By Adedapo Adesanya

The Nigeria Customs Service (NCS), Ibeto Seaport and Terminals Command, Port Harcourt, and the Nigeria Police Force have renewed their commitment to joint security operations at the nation’s maritime corridors, following a strategic meeting between top officials of both agencies.

According to a statement, the renewed partnership came as the Commissioner of Police, Eastern Port Police Command, CP Shuaibu Audu, paid a working visit to the Customs Area Controller, Comptroller Usman Yahaya, at the Command headquarters on April 17, 2026.

The engagement, according to a statement by the Command’s Public Relations Officer, Chief Superintendent of Customs Tangwa Emmanuel, was aimed at strengthening inter-agency cooperation and boosting operational efficiency within the port environment.

Speaking during the visit, Comptroller Yahaya described the engagement as significant, stressing that sustained collaboration among security agencies remains critical to safeguarding national assets and ensuring seamless port operations.

This visit is timely and highly appreciated. It reflects the importance of sustained cooperation among agencies entrusted with the security of our nation and the protection of critical economic assets,” he said.

He assured the police boss of Customs’ readiness to maintain strong working relations with the Eastern Port Police Command.

“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities,” Mr Yahaya added.

The Customs Area Controller noted that the synergy between both agencies has continued to play a vital role in maintaining order, facilitating legitimate trade and curbing criminal activities within the port system.

This was contained in a statement shared via the Customs official X handle.

Customs and the Police share common responsibilities in safeguarding the port environment. Synergy remains the cornerstone for achieving our collective mandate,” he stated.

He also briefed the visiting Commissioner on the operational relevance of the Ibeto Seaport and Terminals Command, reiterating the Command’s commitment to strengthening maritime security.

On his part, CP Audu said the visit was part of efforts to consolidate existing ties between the Nigeria Police Force and the Nigeria Customs Service.

“My presence here today is to reinforce the cordial relationship between the Nigeria Police Force and the Nigeria Customs Service. No organisation can function effectively in isolation,” he said.

He emphasised the importance of sustained collaboration among security agencies, particularly in securing the nation’s ports, which he described as vital to economic stability.

Synergy among security agencies is essential to addressing emerging threats. Our ports are strategic national assets, and we must work together to keep them secure,” Mr Audu stated.

The police commissioner also sought continued support from Customs officers in advancing shared security objectives.

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Economy

Tinubu Removes Wale Edun, Elevates Taiwo Oyedele as New Finance Minister

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swear in taiwo oyedele

By Modupe Gbadeyanka

Mr Taiwo Oyedele has become the new Minister of Finance and Coordinating Minister for the Economy after the exit of Mr Wale Edun.

This announcement was made on Tuesday by the Office of the Secretary to the Government of the Federation via a statement signed by Mr Yomi Odunuga, the Special Adviser of Media and Publicity to the Secretary to the Government of the Federation, Mr George Akume.

It was disclosed that President Bola Tinubu approved the removal of Mr Edun as Finance Minister as well his counterpart in the Housing and Urban Development Ministry, Mr Ahmed Musa Dangiwa.

According to Mr Akume, “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”

In approving the cabinet reshuffle, the President has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended), he added.

Before this minor cabinet reshuffle in the membership of the Federal Executive Council (FEC), Mr Oyedele the Minister of State for Finance.

Mr Muttaqha Rabe Darma has now been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry.

Mr Tinubu thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours, reminding others that “the process of reinvigoration shall be continuous.”

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Economy

Dangote Eyes Crude Oil Production to Ease Shortfalls

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Crude Oil Production

By Adedapo Adesanya

The Dangote Group has announced plans to begin its own crude production, to help cover shortfalls in local crude feedstocks, in the coming weeks through its upstream assets.

According to Mr Devakumar Edwin, the Vice President of the Dangote Group, the company has commenced early testing on crude from its Niger Delta licenses.

In an interview with Platts, part of S&P Global Energy, the official said the company has already begun standard well testing and is preparing to scale up output.

“We have opened a well and begun standard testing, which should be completed in the next three to four weeks, maximum.

“After that point, oil can start to be pumped in larger volumes, and the company can begin work on drilling new wells,” he said.

Also speaking, Mr David Bird, the chief executive officer (CEO) of the Dangote refinery, said the upstream assets could provide a more stable crude supply for the refinery.

“Alongside its upstream interests, the company is seeking to establish its own shipping presence to help reduce logistics costs and improve the reliability of its crude sourcing,” Mr Bird said.

While confirmation has come from the company, the Nigerian government or the Nigerian National Petroleum Company (NNPC) Limited is yet to officially confirm the development.

The 650,000 barrels-per-day facility has been able to get enough feedstock locally under the federal government’s Crude-for-Naira initiative, leading it to source crude from international markets at a premium, which is partly responsible for the high cost of petrol and other fuels.

However, in April 2026, the NNPC said it would increase its crude supply to Dangote Refinery to seven cargoes.

The refinery, on several occasions, has stated it sources the majority of its crude oil outside Nigeria despite being the country’s Naira-for-crude sale deal.

Last month, it said the NNPC only gave it four to five cargoes, which is less than 50 per cent of expected volumes. The majority of Nigeria’s crude is tied to joint ventures with international oil companies.

With the latest development, it would help reduce the dependency on international crude as well as allow Dangote to ease some of its import costs.

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