Opening Range Breakout (ORB) - Intraday Trading System

[umeshmandal]

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.

Why do number of trades differ for : "With Stop Loss" and "Without Stop Loss"?
Afterall SL comes into play only after we are in TRADE! Why shouldnt the nymber of trades be same?

 

[Cubt]

No of trades should be same, I must have missed something

 

[sangi79]

Hi cubt,

One small suggestion from my side. Can u pls. back test the below conditions.?

Why cant we trade ORB in stocks (cash/future) that has OL/OH.

TF for range: 15mins.

Buy: Abv the 15min high which has OL
Sl: Just blow the low of 15min range.
Tgt: 60% exit at 1:1 risk/reward ratio. balance at 1.618/2 R:R.
If both SL and tgt not triggered, close the posn at 3p.m.

Sell: Blow the 15min range of stocks which has OH same.
SL : Just abv the high of 15min tf.
Tgt: 60% exit at 1:1 RR and balance at 1.618/2 RR
If both SL and tgt not triggered, close the posn at 3p.m.

Pls. let me know your opinion.

warm regards,

 

[umeshmandal]

Hi cubt,

One small suggestion from my side. Can u pls. back test the below conditions.?

Why cant we trade ORB in stocks (cash/future) that has OL/OH.

TF for range: 15mins.

Buy: Abv the 15min high which has OL
Sl: Just blow the low of 15min range.
Tgt: 60% exit at 1:1 risk/reward ratio. balance at 1.618/2 R:R.
If both SL and tgt not triggered, close the posn at 3p.m.

Sell: Blow the 15min range of stocks which has OH same.
SL : Just abv the high of 15min tf.
Tgt: 60% exit at 1:1 RR and balance at 1.618/2 RR
If both SL and tgt not triggered, close the posn at 3p.m.

Pls. let me know your opinion.

warm regards,

This works good, I used to trade this system once till I moved on to better options. One has to analyse a few years data to see which stocks or indices would be best to trade with it.

 

[sangi79]

This works good, I used to trade this system once till I moved on to better options. One has to analyse a few years data to see which stocks or indices would be best to trade with it.

Hi umeshmandal,

Thanks for the info. Can you back test for the past 2 yrs data? or Can you pls provide afl if you have one with the abv said conditions?

I don't know to write a code. Its Greek and Latin to me. Can anybody pls help in this regard?

Warm regards,

 

[umeshmandal]

Hi umeshmandal,

Thanks for the info. Can you back test for the past 2 yrs data? or Can you pls provide afl if you have one with the abv said conditions?

I don't know to write a code. Its Green and Latin to me. Can anybody pls help in this regard?

Warm regards,

I dont use Amibroker ! I prefer the age old bar by bar analysis ! You have to have strict entry exit rules to profit, and need to be traded with utmost discipline.

 

[dineshknp]

not any progress in thread after 5 nov, cubt not posted the output of trades he was going to start on orb?

 

[Cubt]

Hi Dinesh, I couldnt trade daily on ORB method. It does not work always,trending days we gain more but lot of wipsaw on other days eats our profits.

 

[dineshknp]

Hi Dinesh, I couldnt trade daily on ORB method. It does not work always,trending days we gain more but lot of wipsaw on other days eats our profits.

Thanks for reply, so what is your setup to trade the ORB method? I want to ask how you decide to trade or not trade the ORB method on particular day?

 

[Cubt]

Haa...if I know tat I would have made millions



May be u can use check for nr7 days n trade on those days, as chances of break out is higher for nr7