One of the strategies I trade is what we call TI30, it is designed to make $800 plus in first 30 minutes of open. It is a day trade strategy with very high win rate. Trades on share 1000 size can give you from 800 to at times 10000 dollars in first 30 minutes. I only trade it in first few minutes.
STX was first stock to hit the Trade Ideas scan Stocks with most downside momentum scan at open yesterday .
Shorted 1000 shares as soon as I saw STX hitting the , got filled at 57.39. Stop was 1 dollar to begin with. Stock kept going down immediately, moved stop to break even.
Covered 800 at 56.31 for 864 dollars profit. Rest kept with break even stop for possible swing.
1 dollar stop is 1.74% risk. So trade meets my objective of below 2.5% risk. Instant profit. Partial exit to ensure the trade will always be profitable and not let profit turn to loss. 20 minutes and 864 dollar profits. Rest of position got stopped later in the day.
STX was first stock to hit the Trade Ideas scan Stocks with most downside momentum scan at open yesterday .
Shorted 1000 shares as soon as I saw STX hitting the , got filled at 57.39. Stop was 1 dollar to begin with. Stock kept going down immediately, moved stop to break even.
Covered 800 at 56.31 for 864 dollars profit. Rest kept with break even stop for possible swing.
1 dollar stop is 1.74% risk. So trade meets my objective of below 2.5% risk. Instant profit. Partial exit to ensure the trade will always be profitable and not let profit turn to loss. 20 minutes and 864 dollar profits. Rest of position got stopped later in the day.
This is very good setup for active traders as it gives opportunities daily and profit potential is large.
7 comments:
Thank you very much for sharing. Is this short only scan?
What are the setting for this scan in TI.
Thank you
it is both long and short. run as seperate sca. Setting is 40 new high
Thank you Pradeep. Appreciate it very much
Very cool setup! I have been watching this scan for a while since you introduced it. May I ask, what was your initial stop of $1 based on?
Thank you for your dedication to teaching traders. I appreciate it enormously!
I see your stop was HOD. Would break of VWAP be a better stop for a better reward:risk?
As it was in first 1 minute, the 1 dollar was based on my risk tolerance for these kind of trades.
I do not use vwap. So no idea. I use 49 cents to 10 dollar stop based on price of stock
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