Simplest intraday ORB strategy for NIFTY

A

aditya14

Well-Known Member
#21
#21
augubhai said:
I wish I could also say that this is a profitable strategy, but I have not tested it as such.

I traded a variation of this strategy, from April to September 2009.

Instead to canceling the other SL when one SL was hit, I used to modify it to 0.6% from the entry price. I was trading between 5 to 20 lots of Nifty everyday. I missed very few trading days between April & September.

The 5 lakhs that I put into my trading account became 9 lakhs by August 20. From Aug 20 to September end, I had continuous losses, with very small wins in between, and my capital went back to Rs 5 lakhs by September end.

I was trading using ICICI Direct, and I believe their charges are high. But I was least bothered when I was making profits. When my capital went back to the initial amount, I stopped the strategy.
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U were in a trending market where there was only 1 way and that was UP.I have learnt that the first 20 minutes is never the best time to trade.Let the market settle and then trade.

Also u need to be strict with urself if u let 9 become 5 do not be complacent and feel it was never ur money.
 
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