ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

You might want to consider some variation of orb (opening range breakout) for your intraday trading. Your philosophy might be a good fit.
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Thanks for the tip, but I was just bored when I made two daytrades. I'll keep the tip in mind though if I do make a daytrade again. By the way, I was trading against the swing trend when I made those day trades and I think that was the main problem. I look at the market in three trend periods -- Long term, intermediate term and swing term. A day trader really should be trading with the swing term trend to be more effective and I wasn't doing so. Swing term trend was short biased at the time. One should always trade with a bias in my view.
 
Quote from Buy1Sell2:

Thanks for the tip, but I was just bored when I made two daytrades. I'll keep the tip in mind though if I do make a daytrade again. By the way, I was trading against the swing trend when I made those day trades and I think that was the main problem. I look at the market in three trend periods -- Long term, intermediate term and swing term. A day trader really should be trading with the swing term trend to be more effective and I wasn't doing so. Swing term trend was short biased at the time. One should always trade with a bias in my view.
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You're welcome (if you ever want any links regarding orb, let me know). You are lucky that you are bored; I have no time for that luxury. :)
 
Quote from smilingsynic:

You're welcome (if you ever want any links regarding orb, let me know). You are lucky that you are bored; I have no time for that luxury. :)
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Hardest part about ORB is finding the good ones.

I stopped doing em because it was so much work. Its much easier to find ones to fade than ones that are going to move.

Using the Taylor method can really help ORB players. Also historical volitility.
 
Quote from trackstar:

Hardest part about ORB is finding the good ones.

I stopped doing em because it was so much work. Its much easier to find ones to fade than ones that are going to move.

Using the Taylor method can really help ORB players. Also historical volitility.
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The way Larry Williams used to do orb would not work today, in my backtesting.

That said, the opening is still the most important thing to know if you're a tape reader.

I use Taylor )along with my own modifications) for my 2-5 day long positions.
 
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