I am trader of NSE India. I planned to trade in the following style: IS IT PROFITABLE?
1. Wait till 9.30 am, afterwards Buy the stocks with open = low, Keep the SL below Low. After 10 am, if trading above the ATP, trail the SL below ATP and move the SL with ATP.
2. If Open = High, after 9.30 am, Buy the stocks above day's High, put SL in day's Low.After 10 am, if trading above the ATP, trail the SL below ATP and move the SL with ATP.
and
If Open = High, I sell the stocks at CMP and keep the sl above the days HIGH, After 10 am, if trading below the ATP, trail the SL above ATP and move the SL with ATP.
3. If, 9.30 AM Open # LOW # HIGH, If trade above ATP, buy the stock and keep sl below day's low. After 10 am, if trading above the ATP, trail the SL below ATP and move the SL with ATP.
SENIORS PLS ADVICE.
hello Mr.Kumar,
Good to see you using your limited knowledge to make profit in the market. Let me explain something about your system:
1) You Ignored Volume & Open Interest.
2) Ignored overall Market Sentiment.
3) Ignored the overall trand of the stock.
4) Ignored the crucial levels of the stock viz. 52 wk High/Low, Swing High/Low, Fib Levels etc.
5) Ignored the Momentum/Volatility/beta of the stock.
Apart from these you lack a lot of things. Understand one fact, previous day's High/Low is not at all a support/resistance for the stock. Its a wrong concept among traders. So no question arises about trading on the breakout of the High/Low of the previous day.
One more thing, when you trade Intraday, the risk level is fairly high. So your strategy should be equally strong. The more Technicals you incorporate in your analysis, the more you reduce your risk. There are millions of traders like you out there trading on such Bogus strategies (self discovered/told by some friends) & end losing huge sums of money & weeping for the loss.
So the bottom line is Strategise, Plan, Execute.
Regards,
Trade_Master
between the two, the first one still makes some sense...