I started off today using Open-High-Low strategy. Stocks in my radar were Bhartiairtl, HCL, Hindunilvr and Wipro.
I started off with Bharti Airtel – had to book a loss of 60 rs because i felt stock is going down.
Next comes HCL – booked a profit of just 85 Rs as there was no good movement in the stock.
Next comes Wipro – booked a profit of 100 Rs
Next i saw that Escorts is having a good run, so went long on Escorts and booked 285 Rs
Here i have to share something interesting observation. I used the combination of Supertrend 7-3, 10-3, 11-2 and all gave buy signals. I added awesome oscillator for confirmation. Although supertrend is in green , i exited because of developing cold feet. Had i stayed in the market, i would have gained close to ( 745-717) * 100 = 2800. Instead i gained 285 Rs. So the lesson to learn is follow with a strategy and adhere to it with a strict stop-loss.
Also another interesting point is that if i use pivot trading to enter and exit, it will also fetch me a good profits. So tomorrow i will experiment 2 things. One is to select a stock and trade it using levels given by pivot trading and the other is to follow supertrend strategy.
Yesbank – saw that it is rocking in hourly gainers page, hence entered and booked profits of 415 Rs. had i stayed in the market following the supertrend combo, i could have gained (1523.5-1506.9) * 100 = 1660. Instead i booked for 415. So the lesson to learn is always follow your strategy.
Day 2 : Rs 895.5