Simplest intraday ORB strategy for NIFTY
- Thread starter augubhai
- Start date
SL hit for [email protected], [email protected], rel [email protected]
Auto square off @ 3 PM - [email protected], [email protected]
Auto square off @ 3 PM - [email protected], [email protected]
Hi Rosy,
I will not be able to guide on Stop Losses since I am myself not very good at deciding it. If you are a beginner you can start by going through the threads in the beginner's guide section of traderji.
You could start with http://www.traderji.com/beginners-guide/23815-absolute-beginner-guide.html
I will not be able to guide on Stop Losses since I am myself not very good at deciding it. If you are a beginner you can start by going through the threads in the beginner's guide section of traderji.
You could start with http://www.traderji.com/beginners-guide/23815-absolute-beginner-guide.html
Trades so far
Nifty sold @5290
ICICI bought @901
dlf [email protected]
suzlon sold @92.35
rel power sold @161, SL hit @161.65
cairn sold @296, SL hit @298.45
Nifty sold @5290
ICICI bought @901
dlf [email protected]
suzlon sold @92.35
rel power sold @161, SL hit @161.65
cairn sold @296, SL hit @298.45
For Stoploss Related i am posting some material: -
Monetary Stop: - This is the least effective method and used by most. This involves choosing an amount of money, pips, points or percentage of acccount value to determine a stop loss level. The problem is that stop losses should be based on technical indications not a monetary value. These are the type of stops that get stopped out most frequently and are based on emotions rather than technical analysis.
Bar Stop: - This is a form of trailing stop. E.g. as a stock moves in the intended direction, the stop will trail with it. The strategy involves placing your stop 10 points below the low of the two most recently closed candles. Remember the candles must be closed, do not use open candles. As the next candle closes move your stop loss accordingly. For example if you were long then determine the low of the two most recent candles. If the stock moves up reallocate the stop loss 10 points below the low of the previous two candles. As the stock increases, move the stop accordingly but NEVER lower the stop. If he stock moves down leave the stop where it is. If you were short you place your stop 10 points above the high of the two bar candle.
Candle Stop: - If you are entering a trade on a candlestick signal then you can use the open, high, low, close to determine your entry point and stop. If you are entering a long position after a hammer and confirmation, place your stop loss 5 points below the low of the hammer. Ask yourself at what level is my original analogy wrong. If it comes below the low of the hammer it is probably not a reversal and a good place to stop out.
Support and Resistance Stop: - As Market Makers are aware that people place stop losses just below and above support and resistance, you need to be one step ahead of the game when using this strategy. To prevent Market Maker manipulation adopt the following strategy when placing stop losses at support and resistance levels. Measure the range between the support and resistance. Place your stop loss 10% of the range either beneath support if long, or above resistance if short. If there is too much risk then reject the trade.
Parabolic SAR Method: - Parabolic SAR is not just an indicator; it is a complete trading system. It is an always in system, meaning if you follow the method you are always long or short. It works best in trending markets. SAR stands for Stop And Reverse. When putting SAR into charting software, it gives you a stop loss level represented by a dot on the chart. As each andle closes, the stop is moved closer to the price. When the stop is hit, the trader reverses direction. When using SAR, remember the Market Maker diary, you do not want to use SAR unless there is a good trend. It is not very useful during the Market Makers lunch period where there is little volatility.
Monetary Stop: - This is the least effective method and used by most. This involves choosing an amount of money, pips, points or percentage of acccount value to determine a stop loss level. The problem is that stop losses should be based on technical indications not a monetary value. These are the type of stops that get stopped out most frequently and are based on emotions rather than technical analysis.
Bar Stop: - This is a form of trailing stop. E.g. as a stock moves in the intended direction, the stop will trail with it. The strategy involves placing your stop 10 points below the low of the two most recently closed candles. Remember the candles must be closed, do not use open candles. As the next candle closes move your stop loss accordingly. For example if you were long then determine the low of the two most recent candles. If the stock moves up reallocate the stop loss 10 points below the low of the previous two candles. As the stock increases, move the stop accordingly but NEVER lower the stop. If he stock moves down leave the stop where it is. If you were short you place your stop 10 points above the high of the two bar candle.
Candle Stop: - If you are entering a trade on a candlestick signal then you can use the open, high, low, close to determine your entry point and stop. If you are entering a long position after a hammer and confirmation, place your stop loss 5 points below the low of the hammer. Ask yourself at what level is my original analogy wrong. If it comes below the low of the hammer it is probably not a reversal and a good place to stop out.
Support and Resistance Stop: - As Market Makers are aware that people place stop losses just below and above support and resistance, you need to be one step ahead of the game when using this strategy. To prevent Market Maker manipulation adopt the following strategy when placing stop losses at support and resistance levels. Measure the range between the support and resistance. Place your stop loss 10% of the range either beneath support if long, or above resistance if short. If there is too much risk then reject the trade.
Parabolic SAR Method: - Parabolic SAR is not just an indicator; it is a complete trading system. It is an always in system, meaning if you follow the method you are always long or short. It works best in trending markets. SAR stands for Stop And Reverse. When putting SAR into charting software, it gives you a stop loss level represented by a dot on the chart. As each andle closes, the stop is moved closer to the price. When the stop is hit, the trader reverses direction. When using SAR, remember the Market Maker diary, you do not want to use SAR unless there is a good trend. It is not very useful during the Market Makers lunch period where there is little volatility.
Trades so far
SOLD
[email protected]
[email protected]
[email protected]
rel [email protected]
tata [email protected]
[email protected]
icici@884 (SL [email protected])
BUY
[email protected]
[email protected] (SL hit@ 1100.05)
SOLD
[email protected]
[email protected]
[email protected]
rel [email protected]
tata [email protected]
[email protected]
icici@884 (SL [email protected])
BUY
[email protected]
[email protected] (SL hit@ 1100.05)
Similar threads
-
-
Needed 1 min Intraday Index (Nifty & Banknifty) Option data- Started by letsgrownow
- Replies: 4
-
-
