Intraday Trading Strategy
Intraday trading strategy:
For beginners open high and low strategy, range break out strategy, reversal trading strategy or some common, simple intraday trading strategy.
Open High and Open low Strategy:
If you are a beginner best intraday trading strategy can be 5-minute intraday trading strategy, Open = high & open = low breakout strategy you can trade in stocks and can be done as a nifty and bank nifty intraday trading strategy.
If Open = Low is same in first 5 min candle or 15 mins candle high break up side a trade can be taken with a stop loss of the Open=low with some points in buffer with a target of 1:1-1:2 & this can move towards up side as it has the buying pressure which has the probability of going in buy direction.
If Open = High is same in first 5 min candle or 15 mins candle low break down side a trade can be taken with a stop loss of the Open=high with some points in buffer with a target of 1:1-1:2 and this can move towards down side as it has the selling pressure which has the probability of going in down direction.
Open Range Breakout strategy:
Open Range breakout strategy mark first 15- or 30-minutes candle high and low and wait for the breakout of upside or the breakdown of downside, which are the side it breaks you can trade in that direction your target will be 1:1 or 1:2 and a stoploss will be high of 15/30 mins candle with some buffer in case of downside breakout and in case of upside breakout the low of 15/30 mins candle will be stop loss.
Both the above strategy can be traded as simple crude oil intra trading strategy but in order to trade in you need to change your timeframe to 1 hr and you should ignore if the candle side is way too big like 70,100 points and if you want to trade the same in natural gas intraday trading strategy like crude oil then you need to use 1 hr time frame but it might be bit risky as you will be mostly having very big stop loss in natural gas.
However, trading any strategy will not just give you only profits. You have to accept a stop loss and follow a process. It is also sometimes important to understand the market conditions. Risk management technique should always be used in order to limit potential losses.