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  1. This strategy aims at making a Nominal Day Trading Income through “SCALPING”.
  2. The Indicators that you need are “Super Trend”, ”Relative Strength Index”, ”Fibonacci Retracement Pivot Levels” and ”Volume Chart”.
  3. Try to enter into only High Volume Stocks in which there is good movement in the day. I prefer only stocks that are traded in the F & O Segment and the Stocks that form the NIFTY.
  4. Do not pick too many stocks. Just have one or two High Volume stocks and stick to trading in them.
  5. At about nine in the morning, be ready with your margin calculations for the stocks you have picked for trading.
  6. Look and assess the direction of Nifty in the Pre  Open Session. However, enter the trade only after 09.30 A.M after the initial run settles down.
  7. Once an uptrend or downtrend is shown by the Super Trend Indicator, enter the trade. However look into the Fibonacci Levels to make sure you don’t enter the trade in unfavorable Support or Resistance. Also, make sure that you are not entering the trade in Over Sold levels of RSI Indicator.
  8. Now comes the most important part where you will fix the Target and the Stop Loss. Fix the Target Price to be 0.3% of your Stock Price and Stop Loss to be 0.3% of your Stock Price. Therefore your Risk-Reward Ratio is 1:1. Strictly follow this rule and do not be tempted to change or alter the Target and Stop loss.
  9. Once you enter a trade, there are only three ways in which the Trade has to close. They are:

                               a)The Target Price is hit.

                               b))The Stop loss Price is hit.

                               c) If the Market gets range bound and either of the Order is not hit for continuous thirty minutes. In that case, you will have to exit the Trade with minimal loss. In the case of Scalping, you must not wait or get stuck in a trade for a long time. This is an imminent rule of Scalping. That way you can enter other trades with the same capital.

10. Now, when one of the above conditions happens, start looking for the Super Trend Indicator for the next trade opportunity.

11. You can make up to 15 trades in a day i.e., 30 executed orders comprising of 15 completed buy orders and 15 completed sell orders.

12. If you continuously make losses in 5 or 6 trades, call it a day and do not trade further. It is not your day. You can always come back another day if you protect your capital.

13. Do not ponder over closing the trade at lesser value if the stock price continues to move in the same direction. You stick to the rules and you should be happy with whatever nominal profit you make per trade. The aim here is to protect the capital and scalp trade by trade to earn a considerable profit rather than make huge money in one trade. The smaller moves you make, the smaller losses you will incur.

14. Do not feel bad about the brokerage cost you pay due to multiple trades. That is the opportunity cost you pay towards mitigating the risk by spreading your gain as well as loss over multiple trades

15. You can opt for the option of Bracket Order to execute these trades. You can read about Bracket Orders here to know about its merits and demerits.

16. To summarize, this strategy involves multiple small trades with small profit gains. Your aim should be small profits along with capital protection. Do not underestimate the power of scalping as 10 positive trades with a 0.3% gain still gives 30% Returns with low-risk elements. Therefore take small strides towards considerable profit gains and simultaneously mitigate the risk of capital loss.