Augubhai's ORB System

[augubhai]

Friends,

I've made some changes to original formula (logic) & feel this is good system for somebody who does not have time to be in front of computer all the time.

I've tested this system for last 13 months (16-Aug-2010 to 16-Sep-11). System generated 246 trades with exactly 50% success rate & making almost 200% net profit. Please review stats attached.

View attachment 16977

Amit, thanks a lot for the backtest and showing that this simple system works. You have shown it better than me - I right now do not use any data sources or charting software - except Power Indiabulls just for their live intraday charts. Right now, it's a pain for me to even post the charts since the charting softwares and the data are just not good enough.

i haven't been trading this system for the past 2 months, but had been trading (V2 or V3) almost everyday since mid-2008. My expectation from this system over the years is about 25% winners, overall profitable with the average winning trade being a multiple of the average losing trade. The worst drawdown I remember was in August-September 2009.

You said that you have made some changes to the logic. If it is ok with you, could you share the modified logic?

 

[myamit]

Amit, thanks a lot for the backtest and showing that this simple system works. You have shown it better than me

You said that you have made some changes to the logic. If it is ok with you, could you share the modified logic?

Hi Augubhai,

Thanks for your comments. I've made following changes in your code...

1. instead of 5 min orb, I'm using 30 min ORB.

2. I've implemented stoploss -- currently SL is being calculated based upon range.

3. Also decided not to trade or adjust opening range if range is too narrow (less than 10 points) or too big (higher than 50 points)


In my opinion this system can be improved further and it looks like we can achieve 70% success rate. Time permitting, I'll try to work on this in coming few weeks. I'll keep you updated with results.

PS: I'm not posting modified AFL as I do not prefer to encourge copy/paste activity. Should you need AFL, please let me know & I'll send it to you thru PM/Email.

Anybody can send me message who is interested in developing/enhancing this system further. I will reply to only those who are really serious in contributing and not only in buy/sell arrows.

 

[augubhai]

Hi Augubhai,

Thanks for your comments. I've made following changes in your code...

1. instead of 5 min orb, I'm using 30 min ORB.

2. I've implemented stoploss -- currently SL is being calculated based upon range.

3. Also decided not to trade or adjust opening range if range is too narrow (less than 10 points) or too big (higher than 50 points)


In my opinion this system can be improved further and it looks like we can achieve 70% success rate. Time permitting, I'll try to work on this in coming few weeks. I'll keep you updated with results.

PS: I'm not posting modified AFL as I do not prefer to encourge copy/paste activity. Should you need AFL, please let me know & I'll send it to you thru PM/Email.

Anybody can send me message who is interested in developing/enhancing this system further. I will reply to only those who are really serious in contributing and not only in buy/sell arrows.

Hi Amit,

Thanks a lot for the information. Your pointers are good enough, I do not need the AFL. I do not even have Amibroker right now.

I am not trading this system currently. I am only day trading systems that need me to spend time in front of the computer. I am on long leave from my office due to personal (not trading) reasons, but I am taking this opportunity to day trade as much as possible. The objective is to become a full-time trader.

I will try to continue to post charts everyday based on the rules that I defined in an earlier post. Hopefully, it will help someone to day trade, without losing focus on their job.

Your contributions are really valuable. Please continue to post your ideas and suggestions on this thread.

 

[Kedarnath]

Hi Augubhai,

Thanks for your comments. I've made following changes in your code...

1. instead of 5 min orb, I'm using 30 min ORB.

2. I've implemented stoploss -- currently SL is being calculated based upon range.

3. Also decided not to trade or adjust opening range if range is too narrow (less than 10 points) or too big (higher than 50 points)


In my opinion this system can be improved further and it looks like we can achieve 70% success rate. Time permitting, I'll try to work on this in coming few weeks. I'll keep you updated with results.

PS: I'm not posting modified AFL as I do not prefer to encourge copy/paste activity. Should you need AFL, please let me know & I'll send it to you thru PM/Email.

Anybody can send me message who is interested in developing/enhancing this system further. I will reply to only those who are really serious in contributing and not only in buy/sell arrows.

Hi,
Myamit

U are in a right...one should contribute valuable inputs in developing afl's...but do share with ppl as many users are not well verse with coding afl...but certainly they should contribute good trading idea's and strategies in this forum.

Thanking u for caring and sharing trading strategies and results with us.


Wishing u success for achieving 70 rate of success.

kedar

 

[augubhai]

5 minute opening range of 5035.35-5050.75, broken to the long side.

 

[sumosanammain]

5 minute opening range of 5035.35-5050.75, broken to the long side.

you had just 1 tic, in 5 seconds to catch it. I couldnt. Could you?????????

 

[augubhai]

you had just 1 tic, in 5 seconds to catch it. I couldnt. Could you?????????

Sumo,

These are only paper trades of a system that i used to trade sometime back. But in any case, at 9:20, the price was around 5048... so there was plenty of time to catch it.

When I trade this system live, I begin placing SL orders for catching the breakouts about 30 seconds before 9:20. So there is no problem in catching the breakouts.

There is no need to be very strict about catching the break of 3 minutes, or 4 minutes or 5 minutes, or 10 minutes, or 15 minutes. The gist of the system is that an early break-out can help you catch the major trend of the day. The earlier you catch it, the better.

 

[sumosanammain]

Sumo,

These are only paper trades of a system that i used to trade sometime back. But in any case, at 9:20, the price was around 5048... so there was plenty of time to catch it.

When I trade this system live, I begin placing SL orders for catching the breakouts about 30 seconds before 9:20. So there is no problem in catching the breakouts.

There is no need to be very strict about catching the break of 3 minutes, or 4 minutes or 5 minutes, or 10 minutes, or 15 minutes. The gist of the system is that an early break-out can help you catch the major trend of the day. The earlier you catch it, the better.

Check the tick charts. Near to impossible to catch it at a reasonable price. Though the 10 min break was possible. But for a person trading 5 min breaks, its psychologically difficult for him to enter at a 20 point distance from his original entry.

I am in no way trying to show you down, just trying to point out, that after many many months, I have seen such a sharp break of the 5 min range, with evena 10 rs tick in nifty, from 5060 to 5070. Not trying to point out any faults in your system. Just discussing thee violent move, and how it made a monkey out of me today

 

[augubhai]

Check the tick charts. Near to impossible to catch it at a reasonable price. Though the 10 min break was possible. But for a person trading 5 min breaks, its psychologically difficult for him to enter at a 20 point distance from his original entry.

I am in no way trying to show you down, just trying to point out, that after many many months, I have seen such a sharp break of the 5 min range, with evena 10 rs tick in nifty, from 5060 to 5070. Not trying to point out any faults in your system. Just discussing thee violent move, and how it made a monkey out of me today

Yes Sumo, I can see big jumps on the tick charts, but if I was trading this system live I would still have been able to catch the breakout easily. As I said, I would place a SL order even before the 5 minutes are complete. That's how I have been trading this system for 3 years

And your comments about the system are welcome. The whole purpose of putting this system in this forum is to have people discuss it. ORB is not my proprietary system.

 

[johnnypareek]

hi can u plez give this afl johnnypareek at yahoo.com