Wednesday, March 5, 2014

Trade with the trend

For intraday trading, Always trade with the trend.

i.e. wait for market to open. Wait for 1 hour.
See whether a high is broken or a low is broken after that.
Place your orders above the second high/low broken and keep adding at each subsequent local maxima or minima.

Stoploss should be previous day's close and move it along the trend but 2 points behind the recent broken maxima or minima.

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