Stocks may be 2-3.
Both may be in start of uptrend or downtrend or 1 in uptrend and 1 in downtrend..... means all possible combo's.
Use crossovers in 1/2/3 mins graph for intraday (Not more than that)
As soon as you book 1% profit or loss, get out of market, no more trades that day
On daily timeframe use RSI/ Stoch/ Macd/ EMA only.... means common indicators only which all can see
so next day market will react.... favorable or opposite doesn't matter but reaction is important.
On lower time frame use crossovers.... etc anything but give special respect to support or resistances.
In ultracemco, yesterday I want to buy @ resistance of 2846 but missed as I hesitated and later you can see stock shoot up to next resistance.
I am not saying this coz its in uptrend on daily time frame rather as it paid respect to resistance which served as support.
similarly in UPL i want reverse buy when I exited as it failed to touch 1% or pivot but hesitated and you can see it shoot to 1% @ 455.50 from buy signal @ 450
May be you understood what i wanna say.....
Reference:
http://www.traderji.com/trading-diary/80035-trade-diary-novice-21.html#post1097668
This strategy generally yields 5-10% monthly, which when multiplied with exposure of 10x on FnO stocks, gives 50-100% on your investment.
Risk is controlled as we take (normally) trades near resistance or support so SL is small.
My real trade prices always differ by some paisa as I take data from terminal but backfill from google.
Prices mentioned here are at almost same time (Not exactly) when i traded but rates slightly differ as in real time signals always differ by 1-2 candles. (Dont know why)
Okay! Got it.
First you shortlist two stocks as described . One in Up and the other in Down trend.
When taking a trade it does not matter whether the same is in uptrend or downtrend. We trade as per lower time frame trend.
Is this correctly understood.?
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