Was having issues with entry technique and trading wipro, some thoughts on the same.
1.My entry method involves entering after price crosses my price level after which i expect orderflow in my direction. Was trying to enter wipro with limit orders, a skill i dont have as of now.
2. Was putting Infy and wipro in same basket, but wipro has better volatility as compared to infy and even after trigger entry method provides sufficient move to profit. Infy on the other hand has wide range bars and less average daily ATR, so trigger entry method is not that profitable.Limit orders near S/R should be used in INFY.
3. My orderflow expectation is better for weak stocks. Realised this when was reviewing WIPRO yesterday. Couldn't enter realtime but after realised there was good entry possibility. Then plotted inverted image for few opening candles on paper and found that i was better able to read when same candles appeared in downtrend. Should practice strong stocks.
4.Orders below whole number should be given wider range to avoid missing entry.