How to pick stocks for intraday trading?

 
Most beginners in stock market thinks making money in intraday trading is easy and cool. This is a wrong perception it is very difficult to trade and make money in intraday trading.
 
Disclaimer / Alert :
Intraday trading is injurious to wealth and health
 
1. Trade only in liquid stocks i.e stocks traded in F&O Segment 
Why only stocks traded in F&O?

Dr Elder's Triple Screen Trading System

I often get emails asking how to pick stocks for trading and when I ask them about current trading system they show moving average crossover system, MACD crossover system, ADX or RSI. Trading using a single indicator on a single time frame is very risky as the market is very dynamic and complex. Trend following indicators are profitable when market is moving in a particular direction but it will lead to whipsaws in range bound market. Oscillators are profitable in range bound market but gives early exit signal if market trends in a particular direction.