Seattle
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
Posts: 225 since Jun 2009
Thanks Given: 135
Thanks Received: 270
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I don't think there is an actual thread to discuss ORB trades. For those of you who are unaware an ORB trade refers to an Opening Range Breakout. Thought I would get a thread started. Figured we could discuss different ORB's (5 min, 15 min, 30 min, etc) on different instruments (ES, CL, etc).
Also what are people finding that might contribute to the odds off success of an ORB trade. One thing I've found, at least on ES, is that the success of the ORB seems to be greatly enhanced if there is a gap. I snagged that idea from Brooks book and started watching for it. The rationale is that it'll either be a breakaway gap in which case the gap continues and the ORB works or it'll try and fill the gap in which case reversing the ORB works as well.
Anyhow, hope this thread helps some people out.
Blz
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