ashishchauhan
Education

Intraday Trading Startegy

NSE:NIFTY   Nifty 50 Index
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Many of the traders are confused how to select the stock and which strategy to be followed for intraday earning.
There is one strategy which we are discussing here for their benefit those who don't want to go into technicals much.
Open=Low & Open=High strategy
Search for the stocks in morning which suits the above criteria of OHL and wait 30 minutes to take entry.
If any of the condition is respected by the stock after 30 minutes then take the entry in that stock as mentioned in the idea above i.e.
*If Open & Low Price is Equal than go for the Buy with Stop Loss Below the Low Price.
*If Open & High Price is Equal than go for the sell with stop loss Above the high price.

Other point to keep in mind are-
*Keep a tight stop is extremely important when trading larger size, as a day trading strategy gives multiple opportunities to work.
*Always keep your profit objective at least 3 times greater than what you are willing to risk.
*Allow no more than a 1% move against you from your entry point.


Comment: **Please note- do not risk your actual money without practicing the strategy. Give time to it and practice it for a week before risking actual money.
Comment: I had not invented this strategy. This strategy is available everywhere on internet but many traders ignored the power of this, i had bring it to their notice only from internet. This is very simple strategy for those who do not know technicals or cannot have access to charts for any reason.
Comment: Yes some tweaks are there. You can make it more powerful with those tweaks and follow strict rules. I will discuss those tweaks when traders become familiar with this simple strategy. I will show the version 2 of this with more power with my followers friends personally on whatsapp and here..
Comment: anyone practiced this strategy today...
Sir, I am using this strategy only for the last one month and it gives me about 70 to 80 % success trades, Initially I was getting confused in entry and exit. Over a period I tried many strategies and finally evolved a strategy to enter the trade. My strategy is I will look into the Trend with the 50 SMA and use 8 EMA to enter into the trade. Will wait for the candle to close above / below 8 EMA and wait for the next candle and enter into the trade at a price above the previous candle. But I am still struggling to exit at correct level.

I use 15 Mins Chart and do trade in Futures. Today, I entered Glenmark Trade at 9.45 candle at 910 and exited at 920 at 10.00 Candle I put my Target 1%), but whereas after that it went high up to 926.

Same way entered into ABIRLANUVO at 1460 at 13.30 candle and exited at 1480 at the same 13.30 candle, where as it went up to 1489 there after.

Usually I do only two to three trades maximum and quite happy with that

Appreciate very much if you can suggest me how to further refine my strategies for both entry and exit.
Reply
ashishchauhan Subra1953
@Subra1953, nice strategy sir...will pm you after looking analyzing ur strategy more deeply...
Reply
Subra1953 ashishchauhan
@ashishchauhan, Thanks heaps, Sir
+1 Reply
bpuroy Subra1953
@Subra1953, Nice one,but how to avoid false and spurious signals,please suggest some solution
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Ashisj Ji ..thank you for starting this educational post. much appreciated !
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ashishchauhan UmeshMishra
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Thanks for sharing this strategy for a novice trader like me..Its easy to understand ..
Reply
ashishchauhan saidingi.sailo321
@saidingi.sailo321, U r welcome sir. Please note- do not risk your actual money without practicing the strategy. Give time to it and practice it for a week before risking actual money.
+1 Reply
Dear Everyone. Thanks for sharing your valuable inputs. There is one more method to trade for intra day. I will share this in detail showing Nifty and Bank Nifty Futures. Basically one need to watch the movement till 10 am as the price movement will be highly volatile due to BTST, STB, bottom fishing or intra day positional during beginning hours. Real trading starts from 10 am, where one need to see the high low between 9:10 am to 10 am. Mark the high price and low price. If the market starts moving above the high price, then go for Buy with stop loss near 9:55 am price or below the low price. Similarly, one can sell if the price below the high price after 10 am and make stop loss slightly higher then the day's high price and buy near day's low (9.10 am to 10 am low price) or Sell below the Day's low price with stop loss above the low price and stop loss above the high price. To make it simple, I will show how to trade on Nifty and Bank Nifty future on Monday. The above trend will not work if the price is volatile, choppy, etc. All the Best and have a good profitable trading.
+2 Reply
ashishchauhan venkaticr
@venkaticr, thanks sir for ur valuable input. The strategy you are talking is ORB strategy, yes it is also a good strategy to follow.
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