Intraday Strategy

Hello Everyone,
After I looking at "Best way of day trading - 2652 theory of trading" post by dhiraj11378, Here is the another logic which I would like to share with you all if you are looking for .5% profit.

Profit Percentage: 0.5% or 0.6%
SL Percentage: 0.85% or 1%
Time to enter: After 9:20 AM

Steps to follow:
1. Go to NSE site and click on the top gainers list. Let say RCOM is one of the top gainer and it's currently trading at 99.5 and day high is 100.
2. Wait till RCOM reach 99 which means that the stock which you are selecting has to drop 1% from it's day high. Once it drops 1% or more which means this stock is eligible for putting order. Add to this in your watchlist
3.Calculate .6% from its day high.In our case it is .60 paisa. so 100 - .6 = 99.4 (Let say this is eligibile price). The eligible price help us to aviod much orders
4.Calculate .18% from its day high.In our case it is .18 paisa. so 100 - .18 = 99.8 (Let say this is buy price).
5. Whenever current RCOM price crossing the eligible price then put buy above order at the buying price which is 99.8.
6. So if the buy order executes 99% it will definitely break the day high and it goes minimum .3 percentage from there which is 100.3 and it our sell order
7. The stocks should have the decent volume

I have been doing the paper trade for this last 6 months and it gives me more than 85 to 90 % success ratio. Here I am not manually watching. I have developed small java application and which sends me report every 30 minutes.Many times I have seen stocks went to 10% up from our buying price.

All I am not that much good in English, please excuse me

Reverse for shorting.. take from top losers

have attached the sample report

PS: Dont put any new order after 3 PM. Also please dont trade directly.. Please do paper work before you start.

Thanks
Bala

Looks fine. But what kind of brokerage are u paying ? What is the investment amount ?

Still I have not traded this live and I have been doing the paper trade for more than 6 months. I hope you can get handsome profit if you really follow the rules.

Thanks
Bala

Paper trades are no substitute for actual trades... the mental make up of a trader is missed out in Paper trades!
Best way to check a system is to take some position with real money. It may be small but not VERY small!!

Yes.. Thats true.. But since I dont have enough money to trade I have posted here. So that anyone can test this with small QTY and make use of it if it really useful.

Thanks
Bala

I think you should consider Brokerage, STT & other costs in your paper trading & then see if you really make profit.

Hats off to you for your perseverance for developing a system even though you dont have money to trade it.

Next step is to get a friend or a relative to give you a small account to trade. show them results, and they will give you better funds on a profit sharing basis.

Where there is a will there is a way.

Though 100 % you will abandon this system when you start trading it. Its not sustainable.

Balasoft80, UR correct. If ur thread can help others why not?. Thanks and keep posting such idieas.

good site for intraday trading information http:// netgeny . uhostfull . com/nifty/

it will not work . paper trading is absolutely not worked for trading. trade with small amt. and then post. do not misguide others.