I have traded similar strategy with Qty 400 when Nifty lot size was low with a target of 10-15 points. When 1st trade failed next trade qty 800. when 2nd trade failed 3rd trade qty 1200. If 3rd trade failed.........no more guts......came back to normal qty of 400....and start over again.
It was profitable. Made around Rs.80000 in a month's time.
This thread is initiated for the help of needy traders who are struggling and trying to learn intricacies of practical aspects of trading. I am strongly hoping that this strategy will help to instill discipline, patience and pave way for the traders to develop their own methods as per their psyche and comfort levels.
Commit your trades in real time in this thread, and compare them with the chart posted by me at EOD to increase your understanding and later for better execution.
Good luck.