created : 9 months ago| | live deployment: 7
created : 9 months ago | live deployment: 7
DHAAVAK Dynamic BN30 Option Buying
Strategy description
Dhaavak Dynamic BN30 is an intraday option buying strategy with BankNifty as underlying. It’s a medium frequency scalper taking around 8 to 12 trades a day . So strongly suggested to use Zero brokerage broker account to maximize profitability.
Risk Management :
1) Per trade stoploss
2) Day stoploss
3) Hedge entry in case trade going against us
4) Option price entered is optimal ( <200) , so capital used is around 6k . Even in case of unforeseen event, risk is limited .
Algo basic information :
· Capital : 20000
· Start Entry time: 9:30
· Entry cut off: 2:45
· Profit booking: Dynamic
· Stoploss – Fixed
· Average numbers of trades per Day: 12
How to use Algo :
1) Always keep multiplier as per RISK Capacity : Since option buying uses less capital to trade , there is a tendency to increase the lot size beyond risk taking capacity . Avoid trading in lots beyond the loss taking capacity .
This is the most important thing to keep in mind to trade for long term .
2) Error Management :
a) Do not forget to generate token everyday .
b) USE notification feature of tradetron i.e for new positions and error , get info via email , whatsapp , telegram , call .
c) Keep enough capital for algo to trade .
d) Keep minimal manual intervention in trading account
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