Price Action Strategy – As we all know When it comes to intraday trading, nothing can match the success delivered by it. I am fan of pure price action strategies and recommending everyone who are seriously pursuing intraday trading to learn couple of good price action techniques.
There are hundreds of price Action techniques for different Chart patterns. Since my endeavour was to zero it on a pure price action strategy which will help us in getting trade setups effortlessly with minimum of technical analysis.
Let me show you what a good price action strategy can deliver – here’s the ledger report from one of the new Trading accounts that I recently created to check the performance of their Mobile App for Trading, intraday margin availability and comfort of trade execution process:
I got my account password on 10 August 2018 and started testing the mobile App by crediting Rs.6000 in it. In 10 trading sessions the capital reached Rs.32000 from Rs.6000.
Lot of my course subscribers are people who are not having large trading capital to trade that’s why I was looking for some discount broker who offers high leverage for intraday trading.
For methodology that we follow I am looking for 3 factors in a broker:
- Low brokerage.
- High Leverage/margin for intraday trading.
- A decent Mobile App for trade execution. (No charting tools needed, as we use other mobile Apps like Moneycontrol, Marketpulse for scanning of stocks and picking the trade setups)
The reason is – as we get high accuracy with our price action strategy, so even with low capital one is able to make daily consistent profits.
Now after personally testing services of quiet a few online discount brokers I am able to say that with capital as low as Rs.10000 one is comfortably able to make daily profits of Rs.3000-4000 with our best performing price action intraday techniques.
I regularly send my personal Trading videos and Trade details, ledger reports to the Course subscribers to motivate them to scale up their intraday profit targets.
In this post I wanted to share & discuss particularly about “brokers & trading results” because I get lots of queries on – “Which broker is good for intraday trading?”
Let me make it loud and clear that – Your success in intraday trading doesn’t depend on the Broker, It depends on the STRATEGY that you use for picking stocks and getting trade setups.
Any good, decent Trading App which helps us in smooth execution of trades is enough. In fact some of my course subscribers are only focusing on picking trade setups while for execution of trades they use Call & trade facilities of their traditional brokers.
I have done trading successfully on traditional brokers (who have high brokerages) like ICICIDirect, Sharekhan and new age discount brokers like Zerodha, SAMCO, Upstox. Irrespective of brokers I was able to make trades with almost 90-100% accuracy just the amount of profit would be different because of varying brokerages.
The common factor that plays BIGGEST role in my trades irrespective of brokers is THE PRICE ACTION METHODOLOGY that I use to pick Right stocks for the day and the best trade setups in the selected stocks.
There is a fact that 95% of the intraday traders lose money.
And here’s fact from Tradvantage Academy that almost 100% of our Course Subscribers are making consistent money by using Our best performing price action strategy.
The accuracy and success rate of Trades differ from 80-100% for them.
I am always encouraging them and conditioning their mindset to go for 100% strike rate by focusing on picking right trade setups every day.
With ability to pick right stock with right trade set up for the day one is able to maintain near 100% accuracy every day irrespective of the market condition.
This is how monthly ledger reports should look like for every intraday trader:
And don’t let the thought come to your mind that – one needs to be experienced to reach such level of profitability.
I have mentored Housewives, College students and even retired persons who didn’t even knew what Nifty Index was. Learnt our price action methodology in record time and started trading with personal accuracy of over 80%.
Actually if one is totally beginner it’s easier for them to quickly adapt to any new trading methodology but someone with experience of trading will have to do one additional task. The task is to Unlearn some of the unfruitful, unwanted things that one has fed in his/her mind regarding intraday trading.
Change of Perspective is needed to succeed in intraday trading.
Humans have evolved, technologies have evolved. Similarly we need to adapt to rapidly changing ecosystem of intraday trading. We got to Up-Skill ourselves with the best trading systems to make our lives financially comfortable.
Now here’s DAID Strategy to get almost 100% Accuracy or success rate with your trades.
It’s “Do As I Do” strategy, in other words – just copy the trading methodology That I use.
At Tradvantage Academy we have designed Ready-To-Copy Trading system which works for everyone irrespective of his/her knowledge, experience, background.
My only effort has been to make intraday trading as simple as possible.
When simplicity works, why make it complex!