60 minutes range breakout

B

biyasc

Well-Known Member
#1
#1
Establish the price range during the first 60 minutes of the main trading session. If, during the second hour, price breaks the high of the initial range, go long with a stop loss one point below the low of the initial range. Conversely, if the price breaks the low of the initial range, go short with a stop loss one point above the initial high point. In either a long or short trade, a profit equal to the width of the initial range is targeted.

(Note this is not a recommended strategy, it is an example to show how a definite strategy could be built around the breakout approach.)

Got it from net, hope it will be helpfull for someone/s to understand the basic concept of opening range breakout.

regds.
biyas.
 
R

ratan jain

Guest
#2
#2
Hey Biyas!

Arre yaar! Meri bread and butter system ko public declare kyon kar rahe ho yaar! :)
 
B

biyasc

Well-Known Member
#3
#3
ratan jain said:
Hey Biyas!

Arre yaar! Meri bread and butter system ko public declare kyon kar rahe ho yaar! :)
Click to expand...
Just trying to help someone. new bies are taking interest on foolish so called analysts on traderji. i feel this strategy is quite good than these foolish analysts.
 
R

rajaram.dilipkumar

Well-Known Member
#5
#5
biyasc said:
Establish the price range during the first 60 minutes of the main trading session. If, during the second hour, price breaks the high of the initial range, go long with a stop loss one point below the low of the initial range. Conversely, if the price breaks the low of the initial range, go short with a stop loss one point above the initial high point. In either a long or short trade, a profit equal to the width of the initial range is targeted.

(Note this is not a recommended strategy, it is an example to show how a definite strategy could be built around the breakout approach.)

Got it from net, hope it will be helpfull for someone/s to understand the basic concept of opening range breakout.

regds.
biyas.
Click to expand...
good one

going with the trend works well under normal market conditions . . but this system will frequently hit stops in volatile markets like what we had in aug .
 
B

biyasc

Well-Known Member
#8
#8
rajaram.dilipkumar said:
good one

going with the trend works well under normal market conditions . . but this system will frequently hit stops in volatile markets like what we had in aug .
Click to expand...
hi raja, any system/s may frequently hit stops in volatile market. just look at ratans post. he is talking about MM & i also feel this is the most important thing than choosing a high success rate system.:)
 
R

ratan jain

Guest
#9
#9
Babubhai :)

U dont need charts for this

Just buy the 30 or 60 min breakout on upside or sell breakdown on down side. And count the money :) bas! :)

Seriously, I would look for a good mm system, babubhai :)
 
B

biyasc

Well-Known Member
#10
#10
yhaaaa, babubhai, as ratan said charts not needed for this strategy. u just need a sound mm strategy for this.
 
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