This setup is good for scalping Nifty and bank nifty with 1 min chart. I have modified the setting to have precise buy and sell signals which provides 90% hit rate.
Rules are simple :-
1. Buy on buy signal with green bar on squeeze indicator (bottom) and when wave is Green.
2. Sell on target profit (recommended 20 points) or Red candle or on sell signal or when squeeze indicator has blank or red bar or when wave is Red.
* just reverse the rules in down trending market.
Points to remember:-
Cons of scalping:-
Pros:
Profits for sure at least 90% of trades
Rules are simple :-
1. Buy on buy signal with green bar on squeeze indicator (bottom) and when wave is Green.
2. Sell on target profit (recommended 20 points) or Red candle or on sell signal or when squeeze indicator has blank or red bar or when wave is Red.
* just reverse the rules in down trending market.
Points to remember:-
- Exit is important in scalping, be ready to sell as soon as you buy lot(s).
- Always try to avoid holding losing trades and exit as soon as possible.
- You wont have time to analyze too many technical analysis in scalping so always stick to your rules and take as many profitable trades as possible.
Cons of scalping:-
- More trades per day
- Higher brokerage
- Standard Capital
Pros:
Profits for sure at least 90% of trades