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.
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.