I always look at the daily timeframe first so here it is .
This is a stock that got listed few months back so daily chart is not sufficient. For IPO stocks that has less than 1 year of data I go to a lower timeframe of 1 hr.
Date of entry – 11 Feb 2025
See the breakout near 1852. I took the entry at 1854 and put the GTT order for Stop Loss at the swing low which is around 1787.
Risk Management – The risk I took is of 3.6%. This risk is not for the total capital I have. It is just for the invested capital for this stock which is 5% of the my total capital. So, the overall risk is below 0.5%. This is called risk management
I will invest more if this breaks the second black line around 1935 and move my SL up so that if it goes up, I will gain more but I will not lose more if it doesn’t.
I shortlisted this stock using relative strength scan. I generally scan for stocks which have relative strength greater than 70 and less than 95.
This is so simple. That’s my way to trade. Low predefined risk and progressive stop loss to ride the strength of the stock.