Hi Aditya,
I Am Surprised....At Your Query...Considering You Are Primarily An Options Player......You Should Know Better....That Options Rewards Are Far Better In A Volatile Market....Like The One We Have Been Witnessing...
Even On Intraday Basis If You Just Concentrate On A Couple...Of Them...You Could Do Much Better Than Trading Stocks.....Keeping An Eye On The Underlying....
If You Are At Early Stages Of Chart Reading....Then I Suggest You Follow 5 Min. Chart With 20 MA & BB 9,2 Plot...Keep The Candlesticks As Bars
Simpe Strategy To With Above Plot On The Charts Is As Follows:
For 20 MA If The Bar Closes Below 20 MA Then Go Short & Once In Profit Keep Trailing With The High Of The Previous Bar Or Keeping The High Of The Bar As S/L That You Have Gone Short...Similarly You Can Do For Longs.
If You See Lower BB Pierced Then Go Long Where Your Normal Exit & SAR Would Be At Upper BB Being Pierced...Or In The Event It Doesnt Reach The Upper BB Then Your Exit/SL Woul Be On Completion Of 2 Consecutive Red Candles....Similarly It Would Be Opposite If You Have Gone Short On Upper BB Piercing & Lower BB Being Exit & Reverse, Incase Lower BB Is Not Reached Your Exit/SL Would Be On Completion Of 2 Consecutive Green Candles.
Try & Observe This For A Day & See If You Can Build Up Some Faith In The Strategy Before You Put Your Money Into It.
Above Strategy Is An Active Intraday Strategy.
Happy & Safer Trading
SavantGarde
I Am Surprised....At Your Query...Considering You Are Primarily An Options Player......You Should Know Better....That Options Rewards Are Far Better In A Volatile Market....Like The One We Have Been Witnessing...
Even On Intraday Basis If You Just Concentrate On A Couple...Of Them...You Could Do Much Better Than Trading Stocks.....Keeping An Eye On The Underlying....
If You Are At Early Stages Of Chart Reading....Then I Suggest You Follow 5 Min. Chart With 20 MA & BB 9,2 Plot...Keep The Candlesticks As Bars
Simpe Strategy To With Above Plot On The Charts Is As Follows:
For 20 MA If The Bar Closes Below 20 MA Then Go Short & Once In Profit Keep Trailing With The High Of The Previous Bar Or Keeping The High Of The Bar As S/L That You Have Gone Short...Similarly You Can Do For Longs.
If You See Lower BB Pierced Then Go Long Where Your Normal Exit & SAR Would Be At Upper BB Being Pierced...Or In The Event It Doesnt Reach The Upper BB Then Your Exit/SL Woul Be On Completion Of 2 Consecutive Red Candles....Similarly It Would Be Opposite If You Have Gone Short On Upper BB Piercing & Lower BB Being Exit & Reverse, Incase Lower BB Is Not Reached Your Exit/SL Would Be On Completion Of 2 Consecutive Green Candles.
Try & Observe This For A Day & See If You Can Build Up Some Faith In The Strategy Before You Put Your Money Into It.
Above Strategy Is An Active Intraday Strategy.
Happy & Safer Trading
SavantGarde
I currently am on a 6 day winning streak in daytrading but i was basically using 20 SMA as the indicator. I will try BB as you have suggested.