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.
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.
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