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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #1451 (permalink)
VIP Member
KL
 
Futures Experience: Intermediate
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CunParis, You only trade the 9.35 opening bar? If i'm not wrong, Jeff takes the other half hour 5 minutes ranges too, like 10.05, 10.35, 11.05 so on. I think he skips the 11.35 bar and lunch time.

Maybe in the context of ORB it is safe only to trade the 9.35 bar. I think Jeff even pointed out the win/loss ratio for just the first 5 minutes ORB. But I kinda like the idea that you can do this for every half hour or so because there tend to be reversals at certain intervals of the day.

In fact, i noticed that we can get pretty good results if we take 1 bar earlier, like 10.30 bar instead of the 10.35 one. I dunno, just my simple observation.

-Joel-



cunparis View Post
PS. What 10:35 bar? The ORB is only for the first bar (9:35 on NT & TS). It went more than 4 ticks but I was out with 4.


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  #1452 (permalink)
Trade with the flow
Paris, France
 
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traderjoel View Post
CunParis, You only trade the 9.35 opening bar? If i'm not wrong, Jeff takes the other half hour 5 minutes ranges too, like 10.05, 10.35, 11.05 so on. I think he skips the 11.35 bar and lunch time.

Maybe in the context of ORB it is safe only to trade the 9.35 bar. I think Jeff even pointed out the win/loss ratio for just the first 5 minutes ORB. But I kinda like the idea that you can do this for every half hour or so because there tend to be reversals at certain intervals of the day.

In fact, i noticed that we can get pretty good results if we take 1 bar earlier, like 10.30 bar instead of the 10.35 one. I dunno, just my simple observation.

-Joel-

Jeff has pointed out that price often reverses on the half hour, something I agree with. But I do not think he just takes a 5min breakout on each half hour. That has too much risk. Jeff goes for a break of a S/R level.

The only time I will take a trade based on the clock is on the ORB which as its name implies is only at the open (could be 5min, 10m, 30m, 60m anything you want). But if you think about it, this time limit is artificial. Instead of taking the 30m breakout why not take a breakout if it occurs at 25m? Just use the S/R left by price.

At the open it's a different story cause that's when the crap hits the fan. We're simply looking for follow-throw on the opening momentum.

I highly recommend getting Crabel's book (look on eMule) and his articles. Very interesting. He has a few different ways to do it:

- a strong first 10 minutes
- a "stretch"

he gives lots of stats. It's not a system in and of itself, it's more used to establish a bias for the day. a very slight one.

I traded it with an automated strategy for several months and made money on it but eventually it stopped working. The ORB concept didn't stop working, it was just my particular approach and the market conditions at the time.

To take a 5min breakout any other time is too risky. Much better to wait until a price or volume pattern confirm the trade.

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  #1453 (permalink)
Trade with the flow
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Today's ES 5min ORB trade.

I didn't like how price was struggling so I got out with +2 & +3 ticks. It would have made all 4 ticks. Next time I'll be more patient.

Attached Thumbnails
All you need-20091028-es-orb.png  
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  #1454 (permalink)
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Futures Experience: Intermediate
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ES experiment

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Actually, I am conducting an experiment.

I hear the voice of TRO ringing in my ears. "Trading is simple......price either goes up or it goes down.......price is either making new highs or new lows or reversing from them....I only need two horizontal lines to trade"

So, even though TRO traded on hourly charts....I have noticed that trades often set up on the half hour. Notice todays ES.......if you create your two horizontal lines on the high and low of the first 5 minutes of each half hour....what happens? At the open price exceeds the high of the first 5 minutes and goes 2.5 points....7:00PST news....7:30 price exceeded the first 5 minutes to the down side and goes 5.75 points.....8:00 price exceeds the first 5 minutes to the high side and goes 2.5 points.....8:30 price exceeds first 5 minutes to the downside and goes 2.75 points (perhaps more) On three of these set ups I scalped for 1 point.

Is there any merit to this observation? Does it work all the time? NO.

Jeff

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  #1455 (permalink)
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Discretion


cunparis View Post
Today's ES 5min ORB trade.

I didn't like how price was struggling so I got out with +2 & +3 ticks. It would have made all 4 ticks. Next time I'll be more patient.

Next time it could take you out........discretion is good !

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  #1456 (permalink)
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Cunparis, your HVC bar is pretty good!

got in 1043, out 1075.50, made 10 ticks on ES.

thanks.

alex

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  #1457 (permalink)
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alex123 View Post
got in 1043, out 1075.50, made 10 ticks on ES.

thanks.

alex

Hey Alex .....can you illustrate how you used the HVC in your trade?

Thanks, Jeff

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  #1458 (permalink)
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alex123 View Post
got in 1043, out 1075.50, made 10 ticks on ES.

thanks.

alex

Alex,

Do you mean GOT IN 1075.50, OUT 1043 ?

The Current Day High that I have is 1063 and Current Day Low is 1043, right now. My Time Zone is GMT + 1. ES has been on a down trend all day today.

Lolu

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  #1459 (permalink)
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sorry, got in 1043, out 1045.50

it is just scalping trade, and against the trend, 1043 is MM line(bottom trading range), price hit 1043 3 times on 5 min ES chart, second 5 min we got HVC bar, as I observed, if countertrend like this, I tried to get in bar low of first HVC bar, HVC bar in such a down trend I guess it means institution covering? at that time 1046 is 20 EMA and previous swing high (two 5 min bar on 14:25 PM), so I set my target 1045.50.

below is my screen shot

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All you need-es-5-min-trohalfhourbuyzone-1.png  
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  #1460 (permalink)
Trade with the flow
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alex123 View Post
it is just scalping trade, and against the trend, 1043 is MM line(bottom trading range), price hit 1043 3 times on 5 min ES chart, second 5 min we got HVC bar, as I observed, if countertrend like this, I tried to get in bar low of first HVC bar, HVC bar in such a down trend I guess it means institution covering? at that time 1046 is 20 EMA and previous swing high (two 5 min bar on 14:25 PM), so I set my target 1045.50.

below is my screen shot

That was interesting. I never thought of trading HVC like that. I usually put my stop 1 tick above the HVC high. Thanks for sharing.

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