Many of the traders are confused how to select the stock and which strategy to be followed for intraday earning.
There is one strategy which we are discussing here for their benefit those who don't want to go into technicals much.
Open=Low & Open=High strategy
Search for the stocks in morning which suits the above criteria of OHL and wait 30 minutes to take entry.
If any of the condition is respected by the stock after 30 minutes then take the entry in that stock as mentioned in the idea above i.e.
*If Open & Low Price is Equal than go for the Buy with Stop Loss Below the Low Price.
*If Open & High Price is Equal than go for the sell with stop loss Above the high price.
Other point to keep in mind are-
*Keep a tight stop is extremely important when trading larger size, as a day trading strategy gives multiple opportunities to work.
*Always keep your profit objective at least 3 times greater than what you are willing to risk.
*Allow no more than a 1% move against you from your entry point.