I am posting below a simple technique to trade Intraday, using the level calculated by the Intraday Level calculator.
This method is exclusively for intraday trade and cash scrips only. And what more you don't need charts to trade them. Lots of patience and discipline is indeed required.
Choose stocks which have high intraday volumes and have liquidity at every price point.
For Long Entry levels are generated in the following format.
LONG : 752.35
STOP LOSS : 750.70
TARGET 1 : 753.15
TARGET 2 : 754.50
TARGET 3 : 756.40
If the price is below the Entry price don't buy I repeat don't buy as long as price remains below the entry level. Once, it crosses the 752.35 immediately buy, it's better to place buy order at 752.4 in the system before hand for the required quantity and place the SL one tick below the SL level i.e. at 750.65.
Book 1/3 qty. once the price reaches TGT1 and hold the rest for TGT2 with same SL. Once the TGT2 is achieved book another 1/3 qty. and hold the rest for TGT 3 and raise the SL to cost price.
Reverse the process for the Short trades.
If you have enough patience to wait for price to come to your levels then you can make lots of money intraday.
Happy Trading.
More to come. !
A: close B: H/L
