First Hour Breakout Strategy

[Brandon]

@rkkarnani
Just grabbed your upload , thank you very much , will read it in the weekend. In 4shared there is an option also , where you can make a virtual directory of all the uploads like an Scene FTP which you want available for download to public users , you can try it out.

 

[Brandon]

You may seek it from rkkarnani !! I remember he has it. Your PM is off, Icud hv sent his mail add.
The articles for which link is posted above by him are also priceless.

-Shravan

Yeah , I was not able to PM myself at first either , did not know had to enable it from the User Control Panel section :lol:

 

[yashodhan]

You may seek it from rkkarnani !! I remember he has it. Your PM is off, Icud hv sent his mail add.
The articles for which link is posted above by him are also priceless.

-Shravan

Thanks Shravan! I do not know what is PM. I wonder if I am allowed to state my mail id here?

I will certainly read the article posted by him.

Thanks again!

 

[Venkatesh1985]

Hi All,

Hindalco range 177.9 - 176.5

Short Triggered 0.5 % Target acheived

Regards,
Venkatesh

 

[SwingKing]

Raunak, I 10,000% agree with you. Toby's book is real Gem only if we test, customise and implement his stretegies in our trading. I follow some of his stuff.. My NR7 setup is one such example from there. I admire his work which came at the time when there was so little processing power of computer available to him.

I agree, it needs effort to customise his strategies for our instuments cause market has changed a lot since his time, but foundation of his strategies are still as valid as they were at his time.

Happy Trading

Oh absolutely Aw10. There are some parts in this book which can be very useful in any trading system. Most of his techniques have been used by Thomas Bulkowski. He has a site on it. Some good information is available there.

Tc.

 

[Sunil]

This is a very good profitable day trading strategy i am following for Tata Motors. It could work with other stocks as well as long as its a good momentum stock.

Entry Note down day hi, lo at 10:00 AM, go long on breakout of high or go short on breakout of low. I dont use any buffer. I place orders blindly. i dont wait for a pullback. I place orders on both sides (some brokers may not accept this). I cancel the other leg if one leg is triggered. I dont trade this on both sides on same day. only one trade per day. thats all !!! so simple !!!

Stoploss. Never open a trade without a stoploss. In this case its the other side hi/lo. For example, if you entered long, then SL is low of the first hour candle. similarly for short, its high of 1st hour candle. again i dont use any buffer. but you can chose some buffer for your comfort

Ah the classic Opening Range Breakout (ORB) strategy - very nicely adapted, Bala :thumb:

Ever tried reversing the trade, instead of just exiting, when stop is hit (Stop and Reverse)...
ie if long above the first HOD, then we may go short when first LOD is broken down...

see if this works...



stock selection ideas:
1. As AW10 mentioned, stock in range contraction mode
2. In list of top 5 stocks in previous day, in terms of top traded volume
3. Stock/Sector in news, before market open

 

[asnavale]

Ah the classic Opening Range Breakout (ORB) strategy - very nicely adapted, Bala :thumb:

Ever tried reversing the trade, instead of just exiting, when stop is hit (Stop and Reverse)...
ie if long above the first HOD, then we may go short when first LOD is broken down...

see if this works...

Hi Sunil,

It works some times but not always.

----------------

I just noticed a few stocks in Daily charts. (As on 19-03-2010)

[B]Will these be good for going long on Monday?[/B]

1)   ACC            NR7      in uptrend
2)   ICICIBANK      NR4      in uptrend
3)   TATAMOTORS     2NR7     in uptrend
4)   TATASTEEL      NR4      in uptrend
5)   BANKNIFTY      IDNR7    in uptrend
6)   NIFTY          NR7      in uptrend

[B]Will these be good for Shorting on Monday[/B]

1)   HINDZINC       NR7      in downtrend
2)   MARUTI         IDNR7    in downtrend
3)   STER           NR4      in downtrend
4)   WIPRO          NR4      in downtrend

Let us wait and watch.


-Anant

 

[veluri1967]

An ORB trade is entered at a predetermined amount above or below the opening range (the range of prices that occur in first 30 seconds to 5 minutes of trading). The predetermined amount, or "stretch," is the 10-day average of the differences between the open for each day and the closest extreme to the open on each day. - TOBY CRABEL

Can someone explain me what does the last sentence mean?

1. We have to average for 10 days.
2. (Open - Closest Extreme to Open) - This is the point where I am at a loss.
Let us study example.
Open 75 High 75.50 Low 74.40 close 74.70

Here we have to take 75 since open - closest extreme is 75.50 (high) or 74.70 (close).? (I think we should taken high)!!!!!!!!!!!!!!!!!!

 

[vinodkiyer]

hi guys,

although the thread is about first hour breakout, since discussion is on of Tony Crabel method last few posting, thought fit to post an afl on same sourced from elsewhere and modified by me on various aspects. pls find attached. Bandlab kindly excuse me for this unrelated topic, which I will delete as soon as some of members have downloaded and confirm same by posting here. use on 5 mins timeframe.

regards
vinod

 

[asnavale]

Can someone explain me what does the last sentence mean?

1. We have to average for 10 days.
2. (Open - Closest Extreme to Open) - This is the point where I am at a loss.
Let us study example.
Open 75 High 75.50 Low 74.40 close 74.70

Here we have to take 75 since open - closest extreme is 75.50 (high) or 74.70 (close).? (I think we should taken high)!!!!!!!!!!!!!!!!!!

Hi Veluri,

Stretch = Open - Closest Extreme

This means Stretch = Minimum of (OPEN - LOW) OR (HIGH - OPEN)

If (OPEN - LOW) is smaller than ( HIGH- OPEN) then take (OPEN - LOW) otherwise take (HIGH - OPEN) as stretch for the day. Then calculate 10day average of stretch. Use the Average of Stretch on previous day for today's calculation of the limits along with the first hour high and low of today.

-Anant