General observation- whenever I make entry buying stock or futures the price falls down even though it is in demand zone. This makes me very difficult to put SL in BO while using liverage given by Zerodha. While some trades gives me profits some take away profits.share your strategy of SL using BO in intraday trades.
Then, as an experiment, place your entry order at the price at which you want to keep your stoploss. Let’s see what happens.
Firstly Very Happy New Year to you and all.
I liked your suggestion. I tried this but then often I missed the opportunity. Trade did not get executed. And then I loose patience and I go to trap.
Suppose if I buy a stock or future at 100 and I put SL = 5 and sell at say 0.5 and it gives a success what’s your view? For this case the risk to reward is very poor.
First of all do Intraday in only those stock which have Good Volumes.
The concept behind good Volumes is that even the Stock will Correct 1-2% There are Chances that it will come to the standard price because of Volumes.
Say You shorted a stock which was open at 100 and You shorted at 103 but it went to 105 don’t panic If Volumes are good on stock there is More possibility that stock price will comeback to below 103 and after that it can go in anyway but it will not go in any Direction suddenly.
Because Volumes are in both sides which are pushing the Stock price.
For Intraday don’t jump in any Stock which you see is going up or going down.
The best way is to identify some stock in which You can do Intraday.
Take a break from Trading one day And Keep a track on the price Movement of stock which you selected and you will find that Stock follow some patterns, some Range, This will help you out in putting Stop-loss.
If You don’t wanna all this.
Simple Put EMA on Chart 5EMA & 20EMA.
If You are on Buy side Put your Stop-loss below 20 EMA.
If You are on short side Just Use Bollinger bands To see the upper band of price and put the Stop-loss.
Bollinger bands also works good when you are on Buy side to figure out the Stop-loss.
But, Trust me Nothing will work better than Experience.
bro, this generally happens when our observation is some late and at that point already players entered the stock book profit
what a funny thing, your 1 stoploss will eat 10 profitable trades
even with 90% accuracy one will be in loss of brokerage
Thank you and wish you a very happy new year.
I liked the suggestion on volume. Will experiment with .
W.r.t. Bollinger bands I tried. But catch remains. If on short I need to select the price close to upper band and SL just above the band. Here again chance of losing opportunity remains. However will study that again. Also try 5EMA /20EMA.
Do you put order in advance or put when price reaches. I usually put in advance with anticipation. Don’t know whether it’s tight.
on the day i trade, find an entry in the morning and wait for price to come to entry level, when i find price at my level i enter