Thread by @TradeWithChart

BTST Trading Stratergy in this thread 🧵

If you find intra-day trading unprofitable, then BTST gives 2 more days to your trades to improve its performance. #BTST #trading

Collabrated with @AnkurPatel59

1/ Strategy for BTST trading
🔸Change of Guard (COG)
Entry (Pullback Reversal from the support level,
Trend reversal from the demand zone)
🔸LOGIC. Change the direction of MINOR move
🔸ENTRY TIME - 3:15pm

2/ Criteria for long
🔸Previous day red candle should be small
🔸Price at the clear support level
🔸Next green candle(current day) price closed above the red candle(previous day)
🔸Current day candle may Gap up / gap down doesn't matter
🔸Volume Shoud be greater than previous day

3/ Some Examples of Setup
🔸Previous day Red candle should be small
🔸Price at clear support level
🔸Next green candle should close above the previous red candle
🔸Current day gap up/ gap down doesn't matter
🔸Volume greater than previous day

4/ Stock Selection Conditions for BTST !
🔸Attempted Direction (Up, Down, Sideways)
🔸Volume Generated
🔸Closing swing and volume
🔸Data(future and option)
🔸The last swing must be trending and close at day high (for long)

🔸The Closing price often tells the truth about how strong a trend truly is. Smart money shows their presence in the last closing swing, continuing to mark positions in their favor. As long as a market is having strong closes (close at day high), look for an up-trend to continue

5/ Future open interest
🔸 Increase in open interest with an increase in price during the last swing of the trading day. It shows the strength of the trend
🔸Long buildup or short buildup

6/ Sector selection
🔸If the index is bullish, select a strong sector for BTST.
🔸AVOID!! NEWS BASED SECTOR

7/ Exit
🔸Most of the time these scripts are opened the next day with a gap up Profit should be booked within 5-10 minutes in the next session.
🔸If the price moves strongly from the open in the direction of your entry, you can trail your stop loss

🔸If the market closes with a strong premium, but opens weak (gap down)the next morning, the odds favor that the first move will be to the upside to test the previous day’s high(fill the gap). If the market closes weak, and the futures close with a discount (close at day low)

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