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LORD JESUS CHRIST SAYS

Then he called the crowd to him along with his disciples and said: “Whoever wants to be my disciple must deny themselves and take up their cross and follow me. For whoever wants to save their lifewill lose it, but whoever loses their life for me and for the gospel will save it. What good is it for someone to gain the whole world, yet forfeit their soul? Or what can anyone give in exchange for their soul?

1 Jan 2019

SHARE MARKET--What is the intraday trading technique which is simple?


Let me admit, I am not a big fan of intraday trades. Not because of the damn old reasons which scared people give (Intraday is shortcut to loose capital) but, because with bigger corpus it becomes difficult to manage these trades at an executional and psychological levels. Moreover, with growing size of your account, you gradually become vulnerable to bigger market participants who use high end machines and have no intentions of sharing the pie with you.
But, since, the question was asked for intraday trading strategy, let me help out with the SIMPLEST INTRADAY STRATEGY which I used in the start of the career. I am sure a lot of you must be knowing this strategy but since the question is not whether everyone know’s it,its about the simplest strategy,hence putting it down over here.

Open Range Breakout Strategy

Chart time frame - 5-10 minutes
Indicators needed - None
Strategy- An opening range breakout is a fairly simple strategy that involves taking a position when a price breaks above or below the day’s 30 minutes high or low. All you need to mark is a stock’s high and low till 9.45. If the high of 9.45 breaks in any time of the day, you enter the stock with a long position. While if it breaks the low, you enter with the short position.
Target - Gap points from low to high at 9.45.
Illustration - A stock opens at 100,makes a low of 99, high of 101. At 10 am, it goes above 101. Now your target should be 101(high)-99(low)=2 points which means,if you enter at 101, your target should be 103. If price action suggests that the momentum is continuing with volumes, you can continue to hold for more gains with a trailed SL above cost. In above example, may be near 101.5–102. The same theory applies to shorts too.
Stop Loss- 0.5 % below your entry. Since, it is more of a scalping strategy,you can’t afford to risk much here.

This has been one of the oldest yet simplest strategy which can be more effective by adding indicators to suggest overbought/sold levels,supports and resistances.


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