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STOCK:
DATE: 31st October, 2024
Today I'll be sharing a simple and easy strategy via price action to trade stocks in Intraday which is a safer way as compared to options trading.
Timeframe: 15mins
EMA 15 for SL trailing
šš±š²š»šš¶š³š ššµš² šš¶šæš²š°šš¶š¼š»:
1. If market is Positive i.e (>0.5%), look for Bullish stocks.
2. If market is Negative i.e, (>-0.5%), look for Bearish stocks.
3. If market is sideways or Range bound, checkout for stocks as per sector wise momentum (FMCG, Auto, Pharma, Metal, etc.)
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> Mark the High and Low of the stock from šµ.šš± to šµ.šÆš¬.
> Look out for stock to close above the high or below the low in šš±šŗš¶š» timeframe for confirmation.
(š”š¼šš²: Closing is mandatory otherwise it will trap)
> The volume should be near or above the MA line in volume side. (Add it by enabling the MA button in volume indicator settings)
> Once the closing is confirmed, you can initiate a trade on pullback with a Stoploss of breakout/breakdown candle low or high depending on the direction of trade.
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You can checkout for stocks as per sector wise momentum with good volume.
Additionally you can checkout this website for list of momentum stocks: Chartink.com
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The idle target in my opinion is between 10-15% of the capital used.
In terms of RR ratio, safe traders can take 1:1 target and risky traders can wait for 1:2 target.
However, Stoploss trailing is a good way to maximize your profits accordingly.
š”š¢š§š: This is only for Educational Purpose and the final decision depends on your own. It is a good strategy but there are several factors that can trigger the price action.
Always manage your risk reward to grow your wealth š.
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