The following four charts on the screen in 5 TF.
SBIN
LIC Housing Finance
HDFC Bank
ICICI Bank
The bar which breaks first 5 min bar is the setup bar. We go short/long on break of this setup bar (low for short and high for long). RR is fixed 1:1 in all cases.
Calculate 1% of your capital as the risk capital for each day. Divide it by 4 to arrive at the risk to be taken for each scrip.
Now measure the high low of the setup bar and devide each scrip risk capital by the difference of high low of the setup bar to know how much to trade on each scrip.
Thatz it.
Tracking daily how this is going to work.
Today trades.
SBIN.........Hit tgt
LiC housing Fin ........Hit tgt
ICICI.............Hit tgt
HDFC Bank......Hit SL.
50% of the day's risk is converted into profit.
Let us calculate in points scored as follows "
Hit of Tgt = 1
Hit of SL = -1
So, today we have made +2 points:thumb:
SBIN
LIC Housing Finance
HDFC Bank
ICICI Bank
The bar which breaks first 5 min bar is the setup bar. We go short/long on break of this setup bar (low for short and high for long). RR is fixed 1:1 in all cases.
Calculate 1% of your capital as the risk capital for each day. Divide it by 4 to arrive at the risk to be taken for each scrip.
Now measure the high low of the setup bar and devide each scrip risk capital by the difference of high low of the setup bar to know how much to trade on each scrip.
Thatz it.
Tracking daily how this is going to work.
Today trades.
SBIN.........Hit tgt
LiC housing Fin ........Hit tgt
ICICI.............Hit tgt
HDFC Bank......Hit SL.
50% of the day's risk is converted into profit.
Let us calculate in points scored as follows "
Hit of Tgt = 1
Hit of SL = -1
So, today we have made +2 points:thumb: