Dear retireby40, Vijay11,
There is NO fixed rule for me reg S/L.
As i am very confident with Tatamotors, either i keep Previous Pivot High, or 3rd Bar High or 50%/ 62% retracement whichever is Low.
I pyramid my trades also. ie keep adding the qty till s/l triggered.
One may call it crude, but works in practical.
My brokerage 0.02% on both sides for Intra.
I trade both sides if opportunity comes , but my S/L are Not RS/L.
I also rely on Adx for strength, but only for Tgt.
When u have Adx, u should have Stochastic /MACD according to me.( to decide trend or sideways)
I want to add here, pl go thro Karthik_sri, VATP, 15 min TF strategy.
It is really Good from my personal experience for scalping & better than mine.
Happy trading.
Thanks for the good suggestion. I will certainly look into those strategies.
BTW, what are your favourite Nifty 50 stocks now a days?
Further, are you following Mr. Rameshraja's Fibonacci Table ? If so, do elaborate
a little more on that for better understanding.
Regards
Vijay11