Trading Dairy - Intraday

[imfine]

Hi all,

Yesterday I could not trade and today I trade using EMA20 resistance and support. there are few differences on ORB and R&S strategy.

1. ORB is quick in terms of entry and exist but R&S is slow and test patience.
2. ORB is to take what is offered on plate ( less profit ) R & S pays best for your patience.

Today I tried it on SBIN cash where the market and index both were in negative throughout.

So I shorted at 267.00 with SL on day high and waited as you can see in chart no major volumes are done but that is the cream of this strategy. I hold the stock and let it flow and the result as said Rs. 3 per share. I stayed till 3:15pm and covered at the said price.

BUT AS I SAID IT TESTS YOUR PATIENCE:thumb:

thanks.

 

[vikas1985]

so,which is best strategy?orb or r/s?

 

[imfine]

so,which is best strategy?orb or r/s?

both are good at their level as I feel if you want to get out of trade quickly with more quantity then ORB is good and if you can stay in trade with less quantity and strict stop loss then R & S is good.

Today I just played with it and applied as per what I see.

ALSO if you are reading my ORB method the time in trade per day is not more then 5 mins. but in R & S I entered today near 10 am and exit out at 3:15pm

Infact I was in Negative for upto 2 hrs and stayed in profit for rest of time.


Thanks.

 

[vikas1985]

thanx for reply.how u choose stock and what is ur trading method in R/S?

 

[vikas1985]

and one more thing, in ur post u have written 'mistake of entering early'. what it means?

 

[imfine]

thanx for reply.how u choose stock and what is ur trading method in R/S?

R & S is purely price action method. I will not be comfortable talking about it as its have many factors. But if you want to start only then check this video on youtube.

https://www.youtube.com/watch?v=TXb6X5_fpg0

As almost 80% of my strategy for R & S revolves around this.

Hope it will help you. It is very simple and can be applied. other 20 % of my strategy is to keep narrowing the gainers and losers as per the market movement.

thanks

 

[imfine]

and one more thing, in ur post u have written 'mistake of entering early'. what it means?

mistake of entering early I termed to entering before 10am and not checking the volumes.

As in ORB when you initiate trade it should be complimented with high volumes else it might be a false breakout.

thanks

 

[vikas1985]

thanx bro.so are u again going to short sbi as it is very near to s1?

 

[vikas1985]

where r u imfine bro?are u not trading

 

[imfine]

where r u imfine bro?are u not trading

hi,

I was out of town. I put a delivery trade on Rico Auto @47.40 right now its @60.85:thumb:

check as the stock has potential and i was keeping eye on this for last 5 months and entered once got signal. now the big buyer have entered in this .

thanks