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.
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...