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One tip to filter stocks for intraday trading.

1. Choose top 5 gainers in the preopen to go long.
2. Choose top 5 losers in the preopen to go short.

Among these 10, focus on the ones showing the maximum activity.

Go long/short on breakout of 15m opening range respectively.
Stop loss will be the other end of the opening range.
Take out 50% of position when price moves 2x the opening range. Another 25% when price has reached 4x the opening range. Last 25% when price reaches 6x the opening range. Or close everything by 3:25pm 5m close.
Test this with different variations and see what suits your personality - whether a fixed stop loss or a trailing stop loss. It's hard to backtest this as I am not sure if we can get data of top gainers/losers on preopen. So, forward test for 2-3 months and see.
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Shravan Venkataraman 🎡
@theBuoyantMan
The traders who make the most money are discretionary + rule based traders.

Discretionary and gut-feel based/instinct based traders blow up someday.

Purely 100% systematic traders make money, but also must adhere to drawdown periods, so the equity curve will be jagged.
The best path for someone coming into the market to trade and make good money is the following.

1. Start off as a systematic trader.
2. Collect ideas from everyone you come across. You can also reverse engineer strategies based on what popular traders on Twitter put up.
I once spent entire weekend decoding @bhatiamanu's initial strategies for how he took 10L to 30L and then 30L to 1C. He used leverage, he did cash buying in stocks, he was long only for most part initially, traded in stocks that were highly volatile, high beta, mostly an ORB.
Read 16 tweets
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Shravan Venkataraman 🎡
@theBuoyantMan
A small info-thread about ITC:

- Incorporated in 1910.
- Started as "Imperial Tobacco Company of India Limited" as a British-owned company in Calcutta
- They tied up with farmers across India and set up manufacturing facilities.
- From 1910 to 1970, ITC pursued aggressive growth. It established relationships with farmers, set up factories, and put together strategic partnerships.
- Post 1960, Indian ownership increased in the company.
- It was one of the first companies to leverage and implement cutting edge technology.
- By 1970, they renamed themselves as India Tobacco Company.
- In 1973, the company decided to diversify their product portfolio and set up a research center.
Read 15 tweets
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Shravan Venkataraman 🎡
@theBuoyantMan
Was reading this book yesterday on indicators. Check this on charts.

1. On a higher timeframe chart (say 1D), establish the current trend.
2. On a slightly lower timeframe chart (say 1H) trade pullbacks on the direction of the trends.
3. To enter pullback, use leading indicators
Momentum indicators look to be helpful to enter pullbacks. Some kind of oversold/overbought indicators or stoch crossover indicators that lead momentum - could be used to establish the overstretched levels. This can be used to enter in the direction of the trend on higher tf.
On a daily timeframe, bnf is moving upward. On the hourly timeframe, you can check when bnf is oversold and enter in the long direction. This is a gross oversimplification of the idea. But this looks good.
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