I have used two of the popular indicators to buy and then sell once I get the desired profit. This strategy combines RSI and 20 DMA, which helps me do swing trading. This way, we can buy the Nifty 50 shares at a low price and thus benefit once they go up.
We can use this strategy for ETF or in stocks directly. I was using the 20 DMA but now we can actually combine both of them so that we will be able to buy the stocks which are quite down and thus once we get some profit we can sell those stocks.
This strategies are great for monthly income. This will not guarantee that our money will become 5x or 10x but this guarantees that our money will circulate and we get regular profit. For example, if your monthly expenses are around 50K and with these strategies you can generate 10K, then that means you are able to generate 20% of your expenses monthly and that is a great passive income source.
I have created the Google Sheets where we cab track all the stocks and thus can get the buy signal for buying and selling. In this way we don't have to spend a lot of time in the market and thus we can able to spend less than 10 minutes. In this way a Salaried Individual also can also take part in the swing trading.
When the RSI goes down, it is oversold and if the DMA is gone down that means the stock is actually getting a beating. Now our motto for this swing trading is that, we have to capture that stock and get the 3% profit and come out. There will be instances where our money might stuck for some time as the stock might not be moving. But since we are using the top 50 stocks, getting these types of stocks is rare. Again in stocks the risk is more as compared to the ETF. So if you want more risk and more reward, do this stratgey with the stocks. If you want less risk and less reward comparatively then use ETF.