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Opening Range Breakout (ORB) - Intraday Trading System

Discussion in 'Day Trading' started by Cubt, Sep 23, 2013.

  1. Cubt

    Cubt Well-Known Member

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    Thanks Happy, i will test it
     
  2. Cubt

    Cubt Well-Known Member

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    Yes Agubhai, you are right. When Stop Loss is not used, it gives max profits. However for certain dates there were no trades even after the break out. That's because u have given some time restriction in the code i guess. Due to which even breakout happens signals not generated for those dates.

    As u said earlier, one can trade this method successfully provided we plan enough to face the continues loss at certain stage. And important thing is even if we with stand the continues loss, we need to continue trading with same lot size, if we reduce the lot size after continues loss then it would take double the time recover the loss.

    If lot size is same throughout the trading phase, then its a great method with sure profits in the long run.

    And i have dropped my plan to capture that 15 points. In the long run it doesn't take me anywhere.

    I will continue to trade with Super Trend system and also will start ORB with 1 lot from tomorrow. i.e. Enter after breakout and exit @ EOD price. No Stop Loss.
     
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  3. anup

    anup Well-Known Member

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    Keep the trailing stoploss and ride the profit..
     
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  4. Cubt

    Cubt Well-Known Member

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    Hhmmm, Can u pls suggest any specific method for TSL apart from EMA???
     
  5. anup

    anup Well-Known Member

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    I am not too sure.. but once you get reasonable profit( it depends on individual) you can keep trailing it
     
  6. augubhai

    augubhai Well-Known Member

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    Will be interesting to watch this. I never had the guts to trade without SL.
     

  7. Cubt

    Cubt Well-Known Member

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    There isn't much difference between with stop loss n without stop loss.

    With stop loss, it gives 11700 points in 950 trades
    Without stop loss, system generates 9500 points in 750 trades.

    Back test period is from jan 2008 to sep 2013.
     
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  8. Cubt

    Cubt Well-Known Member

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    Intially I will start with high/low of range as stop loss but no trailing stop loss, as I cannot monitor the system all the time.

    Entry - 5 mins bar range breakout.
    Stop loss- high/low of the range
    Target-No target
    Exit- @ Eod price.

    If stop loss hit, not going to reverse the trade. Will just close it. No more trades after stop loss hit.

    Will start posting my trades from tomorrow.
     
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  9. Happy_Singh

    Happy_Singh Happy

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    You can adjust the parameter named . . . Entry Time End (Minutes) for that end time . . . .

    change it to 360 (upto 3:15) or maybe to 330 ...


    :) Happy
     
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  10. ethicaldeal

    ethicaldeal New Member

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    Augubhai

    Hello, I have seen a lot of posts of yours in the 2652 thread started by Dhiraj.
    I have been working on this 2652 system and it has loopholes, which I wanted to share.
    I have depicted today's trade scenario (1st Nov 2013 ) for TATA STEEL on NSE (paper trade)

    ---------------------------------------------
    TATA STEEL

    Prev. High Prev. Low
    338.3 324.15

    Diff (Prev. High - Prev. Low) High by 10:30
    14.25 340

    Low by 10:30 Factor (0.433) * Diff
    334.5 6.13

    Sell
    Sell Buy Stop Loss
    333.87 331.87 337.2

    BUY
    Buy Sell Stop Loss
    340.63 343 337.23

    I placed both the orders by 10:35 AM(Capital:3,00,000) , the BUY order hit at 340.63(High), so bought 880 shares. At 12:46PM, Stop Loss was triggered and all 880 shares were sold for 337.23, Loss is 2992.
    --------------------------------------------------------------
    I feel if the constant factor .433 was lesser (like say .233 then values would have been:

    BUY
    Buy Sell Stop Loss
    337.8 339.5 334.

    Then I would have bought at 10:39AM (887 shares) and sold at 10:56 AM with a profit of 1507.9

    Please do throw some light on this.

    Thanks
    Ethicaldeal







    Result: I placed both the orders by 10:35 AM(Captital:3,00,000) , the BUY order hit at 340.63(High), so bought 880 shares. At 12:46PM, Stop Loss was trigerred and all 880 sgares were sold for 337.23, Loss is 2992.
     
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