5 min ORB strategy

ZTrader888 said:
That's true, but depends on how you decide to enter and manage the trade. I generally set a limit order to buy/sell 1 tick above/below the recent 5 min high or low. Sometimes there's a small range already in place at that time of day so I'll use those numbers. But the idea is worthwhile to test on whatever instrument you're trading.
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Stop limit order :P

Yup, different ways to pull the trigger.
Personally I wait for a close outside the range.
Sometimes it doesn't pullback on the range break ...
If I can't get near the level then I just wait for another signal.
 
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From Pax trading group but I can't find it on CmeGroup
 
Sekiyo said:
Stop limit order :p

Yup, different ways to pull the trigger.
Personally I wait for a close outside the range.
Sometimes it doesn't pullback on the range break ...
If I can't get near the level then I just wait for another signal.
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I generally use order flow, particularly cumulative delta, to decide if I'm going to bail or hold on. There are days when volume isn't that great, cumulative delta is just dragging along, and all you can get is 2-3 ticks. But most of the time, if you're not too risk adverse, you can milk it for more. The problem is that on news days, you have to get out early to be safe. Lately, it's been trading well into the direction of the break, but you never know with programs running on the news.
 
Also I found when researching other instruments, that it's practically impossible with the NQ and marginal at best with the ES. The volatility is a killer. Bonds are more stable, especially prior to any news event. A lot of traders must be doing it or the back testing wouldn't show such clear results. Just my assessment having done it for a while.
 
hilmy83 said:
I watched some of his videos. He's basically trying to optimize with small stops/breakeven with scaling in. I think overall, all in and out yields better results just from my own tests.
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Yes.

Basically RORO stands for Right Or Right Out.
Thought it would add value to be as active as he is ...

He also has plenty of levels which I don't really understand.
I think it's based on previous opening range. Which last 30s for him.

If price reaches one level then he's looking for the next level.
Well ... We all know how levels work, more or less.

I am not a member of his group but listened to some of his YouTube videos.

Here's a post about his management.
From what I understand.

1/4 @ TP1 - Pay for your risk (1R), Move stop to break even
1/4 @ TP2 - Intermediate Target
1/4 @ TP3 - Main Target
1/4 as a runner

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