New intraday strategy- both buy and sell for sure profit

[Rish]

Dear suri112000

I told above to place 2 separate orders at same price.
1buy order and 1sell order read complete post and understand.

Regards
Mmohanar

Something is missing from your clarification....

Buy above and sell below same place ?....then your both trade is closed...

If ...reliance gone above 890.30 bought..say at 10.01 a.m - 1 lot..

At 10.04 reliance is gone below 890.25 then your sell is executed...then your trade is closed with no loss / no profit..

Something is missing....

 

[ram2010]

Dear traders

This is new strategy your opinions are welcome iam back testing this strategy. It gives good results.

Strategy

Step 1: Note down high low at 9.45am(30mins) 15mins or 1hr any time frame OK.

Step 2: place both buy & sell 2 seperate orders at high(if high breaks) or low(if low breaks) of 30mins opening range. It must be both the order at same price.

Step 3: place stop loss 0.6% of entry price for both order.

Step 4 : any one order will be closed sure.the other one cover the loss and gives you profit.

But you must wait upto 3.15pm. You close the remaing order at 3 to 3.15pm.

Important matter is don't buy/sell at any price. You must buy/sell at breakout price.

Today(28.5.2015)

I tried below.

Reliance's high/low at 9.45am.

892/885.35

Both buy&sell order at 892.10(high breaks first)

Buy order @892.10 sl886.75 SL triggered loss booked Rs.5.35 * 100 shares Rs.535.

Other order

Sell order @892.10 sl 897.45 SL not triggered and day low went at 3pm to 874.10 so profit Rs.18*100 shares Rs.1800

So today profit Rs.1800-535=1265 rs.

So I think this strategy will give consistent profit.

Kindly do paper trade this method before entering with real money.

Also your opinions are welcome

Regards.

Mmohanar.

After hitting your buy sl, if it went back and simultaneously hits your sell sl, what will you do?

both sides loss.

 

[ram2010]

Something is missing from your clarification....

Buy above and sell below same place ?....then your both trade is closed...

If ...reliance gone above 890.30 bought..say at 10.01 a.m - 1 lot..

At 10.04 reliance is gone below 890.25 then your sell is executed...then your trade is closed with no loss / no profit..

Something is missing....

cover order comes to rescue here,

buy cover order at 890.30

sell cover order at 890.25

both will intact.

market will hit your buy stop loss first,

then will take a U turn, and hit your sell stop loss.:thumb:

Whatever retail try, big sharks will finish it off.

 

[bpr]

Dear traders

This is new strategy your opinions are welcome iam back testing this strategy. It gives good results.

Strategy

Step 1: Note down high low at 9.45am(30mins) 15mins or 1hr any time frame OK.

Step 2: place both buy & sell 2 seperate orders at high(if high breaks) or low(if low breaks) of 30mins opening range. It must be both the order at same price.

Step 3: place stop loss 0.6% of entry price for both order.

Step 4 : any one order will be closed sure.the other one cover the loss and gives you profit.

But you must wait upto 3.15pm. You close the remaing order at 3 to 3.15pm.

Important matter is don't buy/sell at any price. You must buy/sell at breakout price.

Today(28.5.2015)

I tried below.

Reliance's high/low at 9.45am.

892/885.35

Both buy&sell order at 892.10(high breaks first)

Buy order @892.10 sl886.75 SL triggered loss booked Rs.5.35 * 100 shares Rs.535.

Other order

Sell order @892.10 sl 897.45 SL not triggered and day low went at 3pm to 874.10 so profit Rs.18*100 shares Rs.1800

So today profit Rs.1800-535=1265 rs.

So I think this strategy will give consistent profit.

Kindly do paper trade this method before entering with real money.

Also your opinions are welcome

Regards.

Mmohanar.

I don't know whether any broker allows placing buy/seell at the same price.

But the initial placing of 2 orders at the same price has no value expect incurring brokerage

You can as well put the 2 SL trades 0.6 percent away and that's enough and P/L will be same and you will save brokerage .

Good luck.

There is a negative scenario where both the SL trades are hit .I hope you have taken that into consideration.

 

[Serious_Trader]

Dear traders

This is new strategy your opinions are welcome iam back testing this strategy. It gives good results.

Strategy

Step 1: Note down high low at 9.45am(30mins) 15mins or 1hr any time frame OK.

Step 2: place both buy & sell 2 seperate orders at high(if high breaks) or low(if low breaks) of 30mins opening range. It must be both the order at same price.

Step 3: place stop loss 0.6% of entry price for both order.

Step 4 : any one order will be closed sure.the other one cover the loss and gives you profit.

But you must wait upto 3.15pm. You close the remaing order at 3 to 3.15pm.

Important matter is don't buy/sell at any price. You must buy/sell at breakout price.

Today(28.5.2015)

I tried below.

Reliance's high/low at 9.45am.

892/885.35

Both buy&sell order at 892.10(high breaks first)

Buy order @892.10 sl886.75 SL triggered loss booked Rs.5.35 * 100 shares Rs.535.

Other order

Sell order @892.10 sl 897.45 SL not triggered and day low went at 3pm to 874.10 so profit Rs.18*100 shares Rs.1800

So today profit Rs.1800-535=1265 rs.

So I think this strategy will give consistent profit.

Kindly do paper trade this method before entering with real money.

Also your opinions are welcome

Regards.

Mmohanar.

Are you sure you can buy and sell the same script at the same price and have both the position open ?? As far as I know NO BROKER in India provides this.

Consider this - You bought nifty @ 8500.. 1 lot. You sold nifty @ 8500.. 1 lot. So your position is null. You can't have 2 orders (1 long and other short) open.


I would love to see if ICICIDirect provides this. Please share a screenshot when you open this position tomorrow. If its true, I'm opening an a/c wid them right away !

Manish Bhai...............Darne ka nehi ye manmnohar naya naya strategy le ke aate hain......ye banda koyi broker lagta hai......because its possible if your wife buy and you sell......and profit (brokerage) manmnohar ka....... :lol::clap:

 

[mmohanar]

Dear friends
Yes I agree placing 2orders at same script at same price impossible. Today I placed it is triggered when I place second one.But we can try with two different account.

Regards

Mmohanar

 

[PUCHU_2500]

Dear friends

I will go with real trade on monday and post the results.
Once your buy order executed then only you can place cover order.you put SL cover order for that. And if market goes up you no need to place second order.because you already in profit if price come down again you place sell order at same price.after excution put stoploss for 2nd order. That's all.why it's impossible.I think 0.6% SL is not bad.so i confident both SL will not hit.

Regards

Mmohanar

dear mm, pls, post your reliace chart with marked the strategy for our better understanding.....

 

[gobinath_m]

Nice and simple strategy manohar. How many days have u tested this ? How many days had u gone in loss? The loss may be when the price bounces back from the trend. Are u from chennai ?

 

[riaz]

Try using 2 separate Trading Accounts , with the same of different brokers. That would be fine. One for going long and another for shorting..

 

[mechtrader]

I don't know whether any broker allows placing buy/seell at the same price.

But the initial placing of 2 orders at the same price has no value expect incurring brokerage

You can as well put the 2 SL trades 0.6 percent away and that's enough and P/L will be same and you will save brokerage .

Good luck.

There is a negative scenario where both the SL trades are hit .I hope you have taken that into consideration.

I was about to make the same point. I hope people understand his.

Thanks,
MT