Thread by @PraveenJayaram_

Good Afternoon Dear Traders
This is going to be a long detailed explanation of the strategy, kindly take notes.
The strategy I am sharing here is not for index as I had planned since the risk is high & a small mistake can cost heavily at your initial live trading sessions1/23

I want all of you to back test this strategy before using it. Back testing gives you the confidence to take trades without being afraid of outcome. When you have back tested the strategy for at least past 2 years, you will clearly know where to place your stoploss. 2/23

Also you will get to personally know what your success rate and average risk reward ratio and how much money you would have made, if you followed this strategy religiously. 3 /23

Also you require to have good Risk Management and Money Management Measures at place before trading. I suggest not to risk more than 50 Rs while practicing this strategy real time for at least 50 Trades. 4/23

It does not take a lot of intelligence or High IQ to b successful. It’s discipline and patience that is required. Discipline to not lose faith in the trades and the patience to wait for the price to reach the target you had prefixed in your mind before you entered the trade. 5/23

Now without further due I will start on the details of the strategy. This is an Intraday Strategy, meaning do not carry your position to the next day. 6/23

Indicators required:
1)Standard Pivots
2)21 EMA (High/Low) ( in 5 minutes candle)
3)Average True Range Indicator
7/23

The Pre requisites:
1)Open = High if you are going long (or very very small wick to the bottom, almost negligible)
2)Open = Low if you are going short (or very very small wick to the top, almost negligible)
Time Frame used: 15 Mins & 5 Minutes Candlestick 8/23

Entry condition:
1)When the 15 minute candle breaks yesterdays high, buy at the next 15 min candle ( You can wait for retracement, or enter with 50% quantity at the next candle open and add the remaining 50% quantity at a better price if you get it.) 9/23

2)When the 15 minute candle breaks yesterdays Low, Short it at the next 15 min candle ( You can wait for retracement, or enter with 50% quantity at the next candle open and add the remaining 50% quantity at a better price if you get it.)
10/23

Stop Loss conditions:
Stoploss is where back testing the strategy will serve. You need to figure out the best probable support/resistance level and place your stoploss above it by a small amount use half of the the Average True Range indicator value as buffer) 11/23

HARD stoploss areas are:
1)The nearest Swing High/Low
2)Above the open of day, or the nearest Pivot (that the price crossed) or Previous Day Low when you are going SHORT viceversa for Long.
12/23

When the trade starts really going in your favor with strong momentum switch time frame to 5 minutes and use the trailing stoploss, if you are confident the market will trend (For experienced Traders) 13/23

The Trailing Stoploss to be used as follows:
1)Use 21 EMA (HIGH/LOW) on the 5 Mins chart when the price starts to move in your direction with momentum. Exit the stock when the price close above the 21 EMA high when u are SHORT in a trade and viceversa when you are LONG
14/23

Targets:
1)Use the next closest Pivot for exit
2)Trail using 21 Ema (High/Low), I suggest this only for experienced ppl.
15/23

Stocks to Use this strategy in.
1)Adani Ports and Special Economic Zone Limited
2)Aurobindo Pharma Ltd
3)Axis Bank Ltd
4)Bajaj Finance Ltd
5)Bajaj Finserv Ltd
6)Bharat Petroleum Corporation Ltd
7)Havells India Ltd
8)Hcl Technologies Ltd
9)Hdfc Bank Ltd
16/23

Your Job is to back test the strategy (Tradingview.com, Investing.com) in the nine stocks for the past 2 years and find your success rate and Risk Reward Ratio. If you can do this I am sure you will learn a lot which will in turn help you gain confidence 17/23

I will provide you with more stocks for suggestions if you do manual backtest on the above 9 stocks.
Remember you do not need lot of strategies to make money from stock market. 18/23

What to do before taking the trade:
Before taking the trade write down exactly why you are taking the trade. Specify your entry point/Points, your stoploss, your target. If you have atleast 1:1.3 Risk Reward only then take the trade. 19/23

Do not risk more than 50 Rs for the first 50 Live Trades. (This is to make sure you never loose money doing mistakes which all of you will make, because none of us are all knowing to execute trades flawlessly the moment we study about it.) 20/23

Traders Mindset:
Once you executed your order and got filled, enter your stoploss and target order in your terminal. Once you do this do not ever touch your Trade unless your stoploss or target order is executed. 21/23

It requires discipline to see your profits become loss and your loss become profits and still not do anything and wait patiently for your target to hit. If your Target or stoploss does not hit manually exit the trade at 3:15 PM. 22/23

If you have any queries, kindly let me know.
I am not a SEBI registered advisor, This is only an attempt to showcase my style of trading. The concepts shared here is not a holy grail and hence should be followed with strict Risk Management.
Hope Y’all Kill it in market. 23/23

The following are few of the screenshots from Axis Bank. These screen shots are taken for 12 consecutive pattern days in Axis Bank. You can see how beautifully the pattern works. Kindly test the strategy for the remaining Stocks i mentioned. All the best.

Do leave me any questions you have in your mind. Does not matter how childish it may seem to you. Point of this Explanation is to make you feel confident and understand how to trade the right way.

Small correction. Enter the next candle only if the previous 15minute candle "CLOSES" above yesterday's high or closes below yesterday's low.

Correction: open =low when u r going long, and open = high when u r going short.

Small Correction* @ Pre Requesit: open = low when u r going long and open = high when going short.

Correction* @ Entry Condition : 15 minute candle should close above yesterday's high to go long & 15 min candle should close below yesterday's low to go short.