Why the 2652 thread is closed ???
RULES
Code:
[B]2652 THEORY OF DAY TRADING [/B]
THE MOST IMPORTANT THINGS TO TRACK IN DAY TRADING
[LIST=1][*]Previous days range (difference in days high and days low) the most important
[*]That days’ high and that days’ low at 10:15 am after the start of markets
[/LIST]
PDR = PDH - PDL
F1 = 0.4333 * PDR
F2 = 0.7666 * PDR
F3 = 1.3333 * PDR
Opening Range = High – Low (at 10.15 AM)
If F1 > Opening Range
Factor = F1
Else If F2 > Opening Range
Factor = F2
Else If F3 > Opening Range
Factor = F3
Buy Stop Order for Long = Intraday Low + Factor
Target for Long = Buy Price * 1.005 (0.5 % gain)
Stop for Long = Buy Price * 0.99 (1.0 % Loss)
Sell Stop Order for Short= Intraday High - Factor
Target for Short = Sell Price * 0.005 (0.5 % gain)
Stop for Long = Sell Price * 1.005 (1.0 % Loss)
Today all triggers are far away, maybe because of yesterday's big range
Short on ICICIBANK futures hits Stop Loss (first trade loss)
Short triggred on HDFC future, just missed Stop, still on
Short triggered on Infosys, my order did not fill, Stop jumped by almost RS 4, so no trade for me but Target Achieved
Regards
MS