- Take BTST trades at 3:25 pm every day - Book profits within the first 30 minutes of the market opening - Try to exit by taking 3-5% profit of each trade - SL can be taken when the 5/15 min candle closes below 44EMA - SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned on the chart are calculated using BREAKOUT INDICATOR
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Trendline Breakout in NAHARINDUS Buy Today, Sell Tomorrow: NAHARINDUS
That's a 20% move. Such big moves can attract profit booking the very next day, even if the volumes are high during the breakout day. It's better to avoid trading with such high-range candles. If trading with this kind of candle works for you, it's great. I usually avoid it.
Textbook theories are developed by doing years of research on REAL HISTORY in any field, including the markets. These theories don't fall out of the sky.
Technical analysis is also a theory that says History repeats itself, or say Human nature is repetitive.
Even the breakout strategy that your trades are based on, is a by-product of this theory of repetition, or continuation of the momentum.
Textbooks teach us the ideal situations whereas the real experience deviates, but they are related. You can’t deny it completely.
Sai_Kumar
⋅
@Kapil-Mittal, Saying that the market never follows Textbook theory is an amateur statement. You are an experienced trader, this kind of statement doesn't suit you.
Not trying to prove you wrong or to offend you brother. I follow your ideas and they are amazing. Just sharing my view. Happy trading. 😊🙏
It's better to avoid trading with such high-range candles.
If trading with this kind of candle works for you, it's great. I usually avoid it.