Hello friends after a long gap again I post this article.I am here explained you about my intraday trading strategy. As you know most people loss their money on day trading. But if you select the potential stocks for day trading then it give you a amazing returns. Different people follow different methods. Similarly I modified Tom DeMark's rule to use in intraday trading. I explained it here.
Most important factor how much you trade on intraday and how to calculate it. I found this rule here And see these.
Here is the no of stocks I trade on 8th Aug 2013
So friends when and how I select the stock .. watch this
Yes the premarket opening help me to select the stock. The stock open above my short value as I calculate from 7th Aug trade and it is a bearish stock on previous day trade. All these help me to play short with these stock.
I put all the date like LTP, OPEN, HIGH, LOW and CLOSE value of 7th Aug trade on my calculator as shown below.
here what my calculator say as CLOSE < OPEN (CASE-1)
so I am comfortable with these positions and give a short call order here at 288.30 with a stop loss 294.15 and want a target 278 (just above my best Buy position).
I got my target without any hassle during trade.I attain my target and it is risk free. You see my profit I gain by trading 85 stocks of TATAMOTORS (according to my trading capital)
Ok fine. Then how the stock trade check here.
So friends here I always trade by keeping myself on safe position. I take the position within 15 minutes of starting trade around 9.30AM and close all the positions when the target or stoploss hit. I never enter at mid-session of trading anyway.
I wish you understand everything and my trading strategy. On 8th Aug I trade LONG position on RELINFRA, KOTAKBANK, BHARTIARTL and attains the target easily.
Happy trading. Bye friends.
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