great video. very underrated. good examples, easy to understand and follow along and not super complicated. also really appreciate you sharing the TOS scripts helping everyone in their trading journey. its hard enough as it is and you just made it a bit easier with your generosity. subbed thanks! cant wait for the next informative TA video!
Thank you loads for sharing/teaching! Refreshing to listen to one interested in teaching and helping traders rather than using the strategy to sell their indicator. Just wanting to learn more about the ORB and you certainly delivered!
This was an awesome explanation of the ORB... I have seen many on RUclips but this is far buy the best....I also added the Previous Day trend Bias and Mon trend Bias along with my day trend Bias you discussed and saw that it respected those levels sometimes for profit taking! ❤
This was great! I trade the SPX 0DTE Credit Spreads and I just loved the Trend Bias and the colored rectangles on the chart. I adopted this right away as I screenshot all my trades daily. Also started using Pre-Market LO/HI and Previous Day LO/HI plotted levels and it does give you a lot of clarity where I am in the scheme of price vs levels. Thank you for the helpful revisions to the way I display the chart of the /ES...
Thank you, great video. I know about this strategy but you have added some sweet things to it. I look forward to having an EA or Script for this on my MT4.
Great video always aim for two to one risk reward, in orb is a good idea to take profit at 50 percent the first 30 min range and runner to the 1 full range, also can you share the script for the bias zone?
Hi David Y. I agree with taking profit early as it cushions the trade. The amount that is taken definitely depends on your risk tolerance. I'm typically taking 25% fairly early and scaling out in 25% increments. Often times, I will leave a "lotto" play of 10-25% if everything still looks good. The scripts can be found here in the comments. I've posted them several times so they should be easy to find. Thanks for you comment!
Hey! Bro! Today is my super lucky day to find your video! I watched it right before the market opens. And I used it immediately! Your strategy helped me to earn $9000 trading SPX ODTE OPTION!!!! Thanks again for the sharing this to the public!!! 🙏
This is an awesome strategy I’m going to back test.. I’m glad you mentioned the Fibs… as I like consistency and the three main ones (1st on ether side of the 50 ) seam to hit nearly 100 percent of the time… certainly hi 90s if trend is correct… would love to have the script for auto drawing the lines you mentioned…. I have a custom script for a similar strategy that automatically overlays the clouds and adjust as price action moves periodically with micro trends within …. Just started messing around with that but I think your method makes more sense
Sure! The 14 that I mentioned in the video due to high average options liquidity are: SPY QQQ IWM UVXY AAPL TSLA NVDA AMD MSFT FB BAC AAL BA SNAP. There are many more of course but I focus on those with a heavy emphasis on TSLA. I have another scanner with parameters set up to look for lower float stocks that have an ORB breakout for trading shares. Hope that helps!
Sure! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim Here is PM High/Low and Previous Day High/Low tos.mx/TY8BBgM Hope that helps!
Sure! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Hope that helps!
can you please share your scripts for plotting the ranges, more importantly, the script for plotting the mid line of the first 5 min candle. thank you.
Hi ajays108. Thanks for watching. Dig around in the comments for the scripts. I have posted them several times so what you're looking for shouldn't be hard to find
Great! I do track it but I don't put as much emphasis on it as I do the Previous Day's High/Low to identify if we are trading above or below that level which increases the success of the strategy Here ya go! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Let me know if you also want a script that will auto plot your PM High/Low and Previous Day High/Low. Happy to share! Hope that helps!
@@docthedaytrader5027 I downloaded into TOS but it wouldn't open up. Is it in my list somewhere? What are titles of these to find after I download? Thanks
My only concern with ORB strategy is that we go opposite to the popular belief, buy low (@ support) and sell high (at resistance). Here, we buy at resistance and sell at support. So, with bull and bear zones, if we try to sell at rejection of ORB high and buy at rejection of ORB low with appropriate SL then I think we will have better win rate. By looking at the examples you showed, it appears that my tweak would work. Need to backtest.
That's true, however, in this case what we are technically doing is looking to take the trade on the breakdown of support when going below the ORB Low or the break of resistance to the upside breaking the ORB High. Hope that helps!
@@JudynowakowskiI invest with a professional assigned by a crypto company that trades for me and returns profit on weekly basis for me and you can invest your capital and get weekly returns of investment (ROI) without any extra fees attached.
@@wilfredmcalisterI trade with Mrs Kathleen Susan too. She is the best when it comes to making high profits in the crypto market! All you might need is an expert trader like her assigned by a registered broker.
@doc Your explanation of this strategy really made things click for me, as well as your other videos. They much appreciated! Do you care to share the script for the watchlist scanner for the 14 stocks you use as well as the low float stock ORB scanner?
@@markmenser1707 Sure! Here ya go: Scanner tos.mx/6wwmcBD Watchlist Column: tos.mx/aADdyUc For low float stocks just change the scanner from those 14 tickers to All Stocks and put a float parameter in there (under whichever floats you like to play). Hope that helps!
@@PrismOfPerspectives This is built into TI now so just search within TI Opening Range then choose your time frame. Super easy. You may want to put additional filters though (depending on the types of stocks that you trade) so you don't get every stock in the market hitting your scanner
great! thanks for sharing ur perspective! im currently in the midst of configuring my own 30m orb strat. ur not posting anymore vids? or still trading?
No reason why it shouldn't work on futures. Personally, I haven't used it on futures but there are a few people in my Discord group that use it on the S&P E-Mini. I would recommend backtesting it and see how it would have played out for your trades. Hope that helps!
The 14 that I mentioned in the video due to high average options liquidity are: SPY QQQ IWM UVXY AAPL TSLA NVDA AMD MSFT FB BAC AAL BA SNAP. There are many more of course but I focus on those with a heavy emphasis on TSLA. I have another scanner with parameters set up to look for lower float stocks that have an ORB breakout for trading shares. Hope that helps!
Hi Doc... great video.. would u mind to share the ORB set up that u use for the lower float stock?? I am more on a common side than options. Thank u...
@@wennysans4094 Sure! For low floaters, I tend to look at a lower ORB time. The 15 minute or the 5 minute. If you look at the 15 minute, you can still use the 5 minute to identify the Trend Bias but on the 5 minute, you'd need to use the first 1 or 2 minutes to identify a Trend Bias. My best suggestion would be to backtest the different ORB times for the types of stocks that you frequently trade to see which one works best for you (30 minute, 15 minute or 5 minute ORB). Hope that helps!
This was next level ORB, thank you so much for actually sharing knowledge and insight. Priceless in this industry. out of interest, do you still trade this strategy now? With futures markets moving so fast is this viable?
this is awesome info, I have one question though I saw that you mapped everything within a 30-minute range using 5-minute candles, but you did mention you traded the 1-minute timeframe but you never went to a 1 minute chart on your examples, why?
Great video. ORB's typically have a lower success rate (some figures are around 40%) than other types of technical trades, but I suspect that is just based on trades taken based simply on the initial break of the OR. Do you have any success rate percentage that you can share using these more filtering / qualifying criteria for your ORB trades?
Thank you! I'm primarily using this strategy on Tesla. I haven't kept track of success percentage on others for that reason. For me, on Tesla, success is over 70%. Other trader's results could vary depending on where stop loss is placed and the entry chosen. If trading above or below the prior trading day's High or Low as well as Pre-Market High or Low will strengthen the trade conviction. Even with a lower percentage success rate, if you keep your losses much smaller than your gain, it can still be profitable. Hope that helps!
With another Indicator it increases . It I've traded orb with vwap Ema 34 got an 80% been using it for 3 months. Mostly on Aapl, Meta and some other ones.
Nice! Pre-market might be a better option for some traders depending on the types of tickers they are trading. I trade pre-market as well and still like to implement the ORB strat after the opening bell. Happy trading Kamran and thank you for the comment!
Is this still your daily strategy? I am very interested. Question here if you don't mind. What if trend bias Bull zone is larger than Bear zone but 30min ORB breaks down to downward(indicate short trade)? Do you take long or short? I wonder what is your success rate on this. Or does profit beat success rate anyways? Thank you~
This strategy revolves around waiting for whatever ORB time frame you are using to set up (30m ORB in this case). There are times where I will take trades prior when there's an obvious entry signal though. Hope that helps!
Works as good as ever. This strategy can vary depending on numerous factors. The best thing to do is back test it prior to using real money. Hope that helps!
im just curious why you used the 30 min timeframe for your high and low but you only used the first 5 min candle to form your bias? if you form your bias and your high and low using the first 5 min candle is it not as accurate?
From the backtesting that I did, I liked the first 5 minutes of trading to identify trend bias. On a typical day, there is a lot of volume packed into the first 5 minutes of trading vs 5 minute increments afterwards. This, coupled with my backtesting, is why I chose that time frame. You may like using a different time period for trend bias and that's great. If you do, let me know here if you don't mind. I'm curious how it works out. Best of luck to you jon!
Hi. Doc. Since i am trading SPX OPTION, I try to use your strategy to draw the Premarket High and Low Lines. However, I there is NO PREMARKET for SPX index. Any suggestions on this problem? (Maybe use the S&P500 index future premarket inform to replace it?)
Hi Eric! We look for PM High & Low to see at which levels pre-market traders will have a red position. This helps our trade conviction because as they exit their position, it helps our direction. Even though there is no actual pre-market with 24h tickers, the idea is still the same. With that said, on 24h tickers you may want to identify a timeframe instead. I would look at a timeframe that has the most volume during pre-market. You could also just use regular pre-market times or omit it all together if you choose. Which ever direction that you do decide, I'd recommend backtesting it. Hope that helps!
Hi LGBFJB! I'm not 100% clear on your question. If you mean how to identify the Trend Bias line, you just add the high & low together of the first 5 minute candle and divide that number by 2. If your question is more about how Trend Bias is used, let me know and I'm happy to clarify as well
Me too, so if one wants to use the first 30 minute candles we should (a) average out the 1st 5 minutes, then (b) average out from 6 - 30 minutes? (not 1 - 30 mins?)
Great video, it realy helps me to understand the ORB a lot better. Do you pick the stocks random or are there some rules for your watchlist, premarket change or gaps etc.?
Thanks for watching & I'm glad you enjoyed it. I primarily trade it on Tesla but I also have a list of tickers that I like to trade with this strat & that is based on high liquidity for ease of entries & exits. You can find that list of tickers somewhere in the comments here as I know I was asked what they were previously. I do have buddies that trade other stocks using this strategy & they have success with it.
@@docthedaytrader5027 Thanks, I wil have to backtest it. Did you have a higher succes rate with TSLA then your other tickets or is it just something you like to trade on? Do you keep the ATR in mind?
Good video thanks but would have liked to see FEW charts that showed price going UP not every single chart being negative. I dont sell down I only buy bullish. Keep it up
I use RUclips as storage for live sessions that I hold for my Discord channel. It isn't intended to be professionally recorded. I apologize that this free content wasn't up to your expectations but hopefully you gained something out of it
@@docthedaytrader5027 Totally, totally disagree with Joseph. Extremely well presented, very clearly put, compared with so many who just 'say' things and move on rather than 'explain' things, go over them in a different way etc and at an appropriate speed. You did great Doc, I'm sure others would agree. Wondering why the bluntness Joseph, given the amount of time Doc has put in here for yours and my benefit, couldn't a little courtesy be in order?
I have been testing the opening range breakout for quite some time and this video you created here was amazing. Thank you for sharing. It helps a solidify some of my strategies. How do we get in touch with you as your discord link no longer works would like to share some of mytrading log journals with you. Thank you again
Did you read the description? This was a learning session that I did for my Discord channel. I use RUclips to store the videos for them to watch again later if they choose as it is easy & free. With that said, it wasn't made for YOU but I do apologize that this FREE content was too long for your liking. You could have stopped watching at any point and it would have taken less than 1 hour
Just grab the script and import it. If you are unsure how to do that, you can search my videos and there's one where I walk you through how to import into TOS
HI.. Doc.. and everyone. This is my third day in a row trying to use this strategy. Seems that it works for me on trading SPX option and HSI option (a hong kong index) . I highly recommend all of your to give it a try!. By the way, I have another question for you. DOC. I wonder if the EARLY MORNING BREAKOUT will be much accurate when compare with the LATE AFTER BREAKOUT? or do you think this is not clear correlation bewteen the breakout time and the strategy’s accuracy? Finally, highly appreicate if your could share your SCRIPT on THINKORSWIM or TRADINGVIEW? Thank you once again teaching all of us such a wonderful strategy!
As far as the accuracy of the different times, the best thing to do is backtest it and see if it works. I primarily trade this strategy on Tesla options so I don't have any backtesting data on SPX or HSI. If you decide to backtest those, let us know here. I'd love to see the results. Here are the ThinkorSwim scripts: This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Hope that helps!
Geez, here I came for a simple ORB explanation and got an amazing TA and logical thesis on the topic. Great job.
Thank you so much for the kind words!
great video. very underrated. good examples, easy to understand and follow along and not super complicated. also really appreciate you sharing the TOS scripts helping everyone in their trading journey. its hard enough as it is and you just made it a bit easier with your generosity. subbed thanks! cant wait for the next informative TA video!
Thank you so much for the kind words Adam. I'm glad that you enjoyed the video and hope it is useful to you in your trades!
Thank you loads for sharing/teaching! Refreshing to listen to one interested in teaching and helping traders rather than using the strategy to sell their indicator. Just wanting to learn more about the ORB and you certainly delivered!
Thank you as well for watching & for the kind words, they mean a lot!
This was an awesome explanation of the ORB... I have seen many on RUclips but this is far buy the best....I also added the Previous Day trend Bias and Mon trend Bias along with my day trend Bias you discussed and saw that it respected those levels sometimes for profit taking! ❤
Thank you for the kind words. I'm glad you enjoyed it & that you are putting your own spin on it!!
This was great! I trade the SPX 0DTE Credit Spreads and I just loved the Trend Bias and the colored rectangles on the chart. I adopted this right away as I screenshot all my trades daily. Also started using Pre-Market LO/HI and Previous Day LO/HI plotted levels and it does give you a lot of clarity where I am in the scheme of price vs levels. Thank you for the helpful revisions to the way I display the chart of the /ES...
That's great! I'm glad that it was helpful to you. Thank you for the comment and kind words Subsonic!
Really great video. My success rate is around 54% but this video teach me a lot about how to really implement ORB to work. Thanks a lot.
That's great! Thank you for watching and the comment!
I like this one! I will start backtesting this. Thank you for sharing it Doc!
You're very welcome, thanks for watching!
Many thanks
Thanks for watching!
truly a great video, lots of good infromation
Glad you enjoyed! Thank you for the comment and kind words
Thank you, great video. I know about this strategy but you have added some sweet things to it. I look forward to having an EA or Script for this on my MT4.
Thank you for the kind words. I hope my spin on the ORB strategy serves you well!
Great ORB Video! Liked and Subscribed. Looking forward to more Education videos.
Thank you! Glad you enjoyed. Definitely more on the way as I hold these every couple of weeks for my Discord group
Super cool twist. Will be trying that this week. I love the 5 min ORB.
Glad you like the strategy. Hope it serves you well. Thanks for the comment!
How’s it work out?
Good stuff @doc! Going to add this and see what I can do with it in conjunction with the clouds. 👌
Sounds good, thank you jayr!
Excellent video. Thank you!
Thanks for watching!
give us more on this more orb deep knowldge one field phd is better than 1000 indicator
Thanks DOC!
You're quite welcome!
awesome video bro
Glad you enjoyed it Denis! Thank you for the kind comment!
just sub'd for this great video, thanks!
You got it! I hope it serves you well
Great video always aim for two to one risk reward, in orb is a good idea to take profit at 50 percent the first 30 min range and runner to the 1 full range, also can you share the script for the bias zone?
Hi David Y. I agree with taking profit early as it cushions the trade. The amount that is taken definitely depends on your risk tolerance. I'm typically taking 25% fairly early and scaling out in 25% increments. Often times, I will leave a "lotto" play of 10-25% if everything still looks good. The scripts can be found here in the comments. I've posted them several times so they should be easy to find. Thanks for you comment!
May I have the TOS script you mentioned in this video? Thank you so much!
Hi, I'm not sure which one you are looking for but I've posted all of the scripts several times in the comments so they should be easy to find
Hi Doc, love the vids. Can you please post the TOS script. Tks Rudy
Sorry Doc. But I found the scripts in the comments. Thanks again. Rudy
@@rran4u Great! Thanks again for the kind words rudy!
Hey! Bro! Today is my super lucky day to find your video! I watched it right before the market opens. And I used it immediately! Your strategy helped me to earn $9000 trading SPX ODTE OPTION!!!! Thanks again for the sharing this to the public!!! 🙏
That's great! Hope it continues to serve you well
This is an awesome strategy I’m going to back test.. I’m glad you mentioned the Fibs… as I like consistency and the three main ones (1st on ether side of the 50 ) seam to hit nearly 100 percent of the time… certainly hi 90s if trend is correct… would love to have the script for auto drawing the lines you mentioned…. I have a custom script for a similar strategy that automatically overlays the clouds and adjust as price action moves periodically with micro trends within …. Just started messing around with that but I think your method makes more sense
Awesome! Thanks for the kind words and good luck with your strat!
Can you share your list of the 14 or so tickers that you mentioned in the video that you apply this strategy?
Sure! The 14 that I mentioned in the video due to high average options liquidity are: SPY QQQ IWM UVXY AAPL TSLA NVDA AMD MSFT FB BAC AAL BA SNAP. There are many more of course but I focus on those with a heavy emphasis on TSLA. I have another scanner with parameters set up to look for lower float stocks that have an ORB breakout for trading shares. Hope that helps!
Yes, thank you may I please have the script? and also the PM High/Low and Previous Day High/Low
Sure! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim
Here is PM High/Low and Previous Day High/Low tos.mx/TY8BBgM
Hope that helps!
Great video, may I please get the script for those zones on your charts? Thanx for all you do!!
Sure! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Hope that helps!
Thank you so much!
@@marietawalton4164 Of course!
@@docthedaytrader5027 This is great, thanks so much. How can we back-test this in Thinkorswim. Do you have this study as a Strategy?
great video
Thank you Harel! I'm glad you enjoyed it
can you please share your scripts for plotting the ranges, more importantly, the script for plotting the mid line of the first 5 min candle. thank you.
Hi ajays108. Thanks for watching. Dig around in the comments for the scripts. I have posted them several times so what you're looking for shouldn't be hard to find
Subscribed. Great Content. Do you also mark the Previous Day Close? May I also have the script for this? Thanks.
Great! I do track it but I don't put as much emphasis on it as I do the Previous Day's High/Low to identify if we are trading above or below that level which increases the success of the strategy
Here ya go! This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Let me know if you also want a script that will auto plot your PM High/Low and Previous Day High/Low. Happy to share! Hope that helps!
Thank you. May also have the script to mark PM H/L and PD H/L
@@hi-jdoc Sure! Here ya go: tos.mx/TY8BBgM
Thank you
@@docthedaytrader5027 I downloaded into TOS but it wouldn't open up. Is it in my list somewhere? What are titles of these to find after I download? Thanks
Great video. Thank you.
Thanks for watching & for the kind words
My only concern with ORB strategy is that we go opposite to the popular belief, buy low (@ support) and sell high (at resistance). Here, we buy at resistance and sell at support. So, with bull and bear zones, if we try to sell at rejection of ORB high and buy at rejection of ORB low with appropriate SL then I think we will have better win rate. By looking at the examples you showed, it appears that my tweak would work. Need to backtest.
That's true, however, in this case what we are technically doing is looking to take the trade on the breakdown of support when going below the ORB Low or the break of resistance to the upside breaking the ORB High. Hope that helps!
@@docthedaytrader5027 Thanks.
Since i started making money on crypto currency, I invested $8000 and my profits is $32,560 every 11 days and i never lost my money on crypto.
Please I'm new to this how can I get such profits, what strategy are you using?
@@JudynowakowskiI invest with a professional assigned by a crypto company that trades for me and returns profit on weekly basis for me and you can invest your capital and get weekly returns of investment (ROI) without any extra fees attached.
@@JudynowakowskiThe professional is mrs Kathleen Susan
@@wilfredmcalisterI trade with Mrs Kathleen Susan too. She is the best when it comes to making high profits in the crypto market! All you might need is an expert trader like her assigned by a registered broker.
Please I've heard a lot about Mrs Kathleen Susan, how can we be able to get her contact because i really need to invest
@doc Your explanation of this strategy really made things click for me, as well as your other videos. They much appreciated! Do you care to share the script for the watchlist scanner for the 14 stocks you use as well as the low float stock ORB scanner?
Thank you for the kind words. I set up a Trade Ideas scanner for the ORB breaks. I think I have one for TOS as well. Which do you prefer...TI or TOS?
@@docthedaytrader5027 Tos please
@@markmenser1707 Sure! Here ya go: Scanner tos.mx/6wwmcBD Watchlist Column: tos.mx/aADdyUc
For low float stocks just change the scanner from those 14 tickers to All Stocks and put a float parameter in there (under whichever floats you like to play). Hope that helps!
@@docthedaytrader5027 Thanks for the great video!! can you please share the script for Trade Ideas too. thanks again!!
@@PrismOfPerspectives This is built into TI now so just search within TI Opening Range then choose your time frame. Super easy. You may want to put additional filters though (depending on the types of stocks that you trade) so you don't get every stock in the market hitting your scanner
good stuff ..just curious how to back testing turn out?
wau, great explenation :) .
Glad you enjoyed. Hope the strategy serves you well!
Would love to get the scrip. Have link?
I found it in the comments here
That's correct. I have listed it a few different times within the comments here
great! thanks for sharing ur perspective! im currently in the midst of configuring my own 30m orb strat. ur not posting anymore vids? or still trading?
thanks for sharing this can u please ur script on tradingview will be highly appreciated thanks
share
Hi Malik! Unfortunately, I don't have a script that is functional for TradingView...only for TOS
Do you use this for the futures market?
No reason why it shouldn't work on futures. Personally, I haven't used it on futures but there are a few people in my Discord group that use it on the S&P E-Mini. I would recommend backtesting it and see how it would have played out for your trades. Hope that helps!
Which stocks do you tend follow when using the ORB? Thanks
The 14 that I mentioned in the video due to high average options liquidity are: SPY QQQ IWM UVXY AAPL TSLA NVDA AMD MSFT FB BAC AAL BA SNAP. There are many more of course but I focus on those with a heavy emphasis on TSLA. I have another scanner with parameters set up to look for lower float stocks that have an ORB breakout for trading shares. Hope that helps!
Hi Doc... great video.. would u mind to share the ORB set up that u use for the lower float stock?? I am more on a common side than options. Thank u...
@@wennysans4094 Sure! For low floaters, I tend to look at a lower ORB time. The 15 minute or the 5 minute. If you look at the 15 minute, you can still use the 5 minute to identify the Trend Bias but on the 5 minute, you'd need to use the first 1 or 2 minutes to identify a Trend Bias. My best suggestion would be to backtest the different ORB times for the types of stocks that you frequently trade to see which one works best for you (30 minute, 15 minute or 5 minute ORB). Hope that helps!
This was next level ORB, thank you so much for actually sharing knowledge and insight. Priceless in this industry. out of interest, do you still trade this strategy now? With futures markets moving so fast is this viable?
this is awesome info, I have one question though I saw that you mapped everything within a 30-minute range using 5-minute candles, but you did mention you traded the 1-minute timeframe but you never went to a 1 minute chart on your examples, why?
Great video. ORB's typically have a lower success rate (some figures are around 40%) than other types of technical trades, but I suspect that is just based on trades taken based simply on the initial break of the OR. Do you have any success rate percentage that you can share using these more filtering / qualifying criteria for your ORB trades?
Thank you! I'm primarily using this strategy on Tesla. I haven't kept track of success percentage on others for that reason. For me, on Tesla, success is over 70%. Other trader's results could vary depending on where stop loss is placed and the entry chosen. If trading above or below the prior trading day's High or Low as well as Pre-Market High or Low will strengthen the trade conviction. Even with a lower percentage success rate, if you keep your losses much smaller than your gain, it can still be profitable. Hope that helps!
With another Indicator it increases . It I've traded orb with vwap Ema 34 got an 80% been using it for 3 months. Mostly on Aapl, Meta and some other ones.
@@marioStortuga what time frame?
@@marioStortuga Hi mario, do you mind explaining how you use the 34 ema and vwap for your orb trade? Do you use the 5 minute for orb trades ?
@@SzI18 no reply after 5 months.. i say its not working anymore or he is not sharing his secret..
I'd prefer trading the stocks that are moving pre market, so there is a higher certainty that the stock will move upward or downward.
Nice! Pre-market might be a better option for some traders depending on the types of tickers they are trading. I trade pre-market as well and still like to implement the ORB strat after the opening bell. Happy trading Kamran and thank you for the comment!
How do you even back test it, if everything is so discretionary?
Thank you . Wish I found this 2 years ago
Better late than never! Thanks for watching
Is this still your daily strategy? I am very interested. Question here if you don't mind. What if trend bias Bull zone is larger than Bear zone but 30min ORB breaks down to downward(indicate short trade)? Do you take long or short? I wonder what is your success rate on this. Or does profit beat success rate anyways? Thank you~
It happens sometimes. I typically look at other indications prior to taking that trade or just skip it and wait for a better opportunity
Basically using this strat you can't trade the first 30 min of RTH until you establish the high& low?
This strategy revolves around waiting for whatever ORB time frame you are using to set up (30m ORB in this case). There are times where I will take trades prior when there's an obvious entry signal though. Hope that helps!
@@docthedaytrader5027 I see you can adjust to whatever time you want inside the indicator ie 5 15 30min for the range after market opens..thanks.
@@Trollberg Exactly! Hope the strategy serves you well Ragi
Which trading software is this? And any broker recs? I used XM and the spread is horrendous
TD Ameritrade Think or Swim platform
Can I get a copy of your Script?
Sure! Check the comments as I've posted them several times and different types so you can find exactly what you are looking for. Thanks for watching!
hows this orb strategy so far at current time?
Works as good as ever. This strategy can vary depending on numerous factors. The best thing to do is back test it prior to using real money. Hope that helps!
im just curious why you used the 30 min timeframe for your high and low but you only used the first 5 min candle to form your bias? if you form your bias and your high and low using the first 5 min candle is it not as accurate?
From the backtesting that I did, I liked the first 5 minutes of trading to identify trend bias. On a typical day, there is a lot of volume packed into the first 5 minutes of trading vs 5 minute increments afterwards. This, coupled with my backtesting, is why I chose that time frame. You may like using a different time period for trend bias and that's great. If you do, let me know here if you don't mind. I'm curious how it works out. Best of luck to you jon!
@@docthedaytrader5027I use to do the 15 minute but it like to reverse and fake out the 30 minute is the true trend it’s like 99% win rate
Based on data not hunches like the rest of retail shmucks. Just because something works a few times doesn’t mean it is a viable trade with edge.
Hi. Doc. Since i am trading SPX OPTION, I try to use your strategy to draw the Premarket High and Low Lines. However, I there is NO PREMARKET for SPX index. Any suggestions on this problem? (Maybe use the S&P500 index future premarket inform to replace it?)
Hi Eric! We look for PM High & Low to see at which levels pre-market traders will have a red position. This helps our trade conviction because as they exit their position, it helps our direction. Even though there is no actual pre-market with 24h tickers, the idea is still the same. With that said, on 24h tickers you may want to identify a timeframe instead. I would look at a timeframe that has the most volume during pre-market. You could also just use regular pre-market times or omit it all together if you choose. Which ever direction that you do decide, I'd recommend backtesting it. Hope that helps!
thxs for the info '.......
You're welcome! Thanks for watching & the comment!
What tickers are on the list of 14?
where can i get the script for automatic zones?
Search in the comments. I've posted them several times so it should be pretty easy to find. Thanks for watching
Great video but confused on your criteria for the “trend bias” line. I get it in the first example but not on the others?
Hi LGBFJB! I'm not 100% clear on your question. If you mean how to identify the Trend Bias line, you just add the high & low together of the first 5 minute candle and divide that number by 2. If your question is more about how Trend Bias is used, let me know and I'm happy to clarify as well
Me too, so if one wants to use the first 30 minute candles we should (a) average out the 1st 5 minutes, then (b) average out from 6 - 30 minutes? (not 1 - 30 mins?)
OH, I see now the 1st 6 candles at 5 mins each (not 1 min each) represent 30 mins.
Great video, it realy helps me to understand the ORB a lot better. Do you pick the stocks random or are there some rules for your watchlist, premarket change or gaps etc.?
Thanks for watching & I'm glad you enjoyed it. I primarily trade it on Tesla but I also have a list of tickers that I like to trade with this strat & that is based on high liquidity for ease of entries & exits. You can find that list of tickers somewhere in the comments here as I know I was asked what they were previously. I do have buddies that trade other stocks using this strategy & they have success with it.
@@docthedaytrader5027 Thanks, I wil have to backtest it. Did you have a higher succes rate with TSLA then your other tickets or is it just something you like to trade on?
Do you keep the ATR in mind?
@@Frater0071 I just enjoy trading TSLA and that's primarily day trading options.
does it work on forex and what time zone in nyc
Never tried it with forex but you could test it out before committing any real money
Good video thanks but would have liked to see FEW charts that showed price going UP not every single chart being negative. I dont sell down I only buy bullish. Keep it up
way too long and too much noise. need to filter out to find the info needed.
I use RUclips as storage for live sessions that I hold for my Discord channel. It isn't intended to be professionally recorded. I apologize that this free content wasn't up to your expectations but hopefully you gained something out of it
@@docthedaytrader5027 Totally, totally disagree with Joseph. Extremely well presented, very clearly put, compared with so many who just 'say' things and move on rather than 'explain' things, go over them in a different way etc and at an appropriate speed. You did great Doc, I'm sure others would agree. Wondering why the bluntness Joseph, given the amount of time Doc has put in here for yours and my benefit, couldn't a little courtesy be in order?
@@TheBeebs999 Thank you for the kind words and for having my back lol. I'm glad you enjoyed the vid
@@docthedaytrader5027 Well deserved. Rgds
I have been testing the opening range breakout for quite some time and this video you created here was amazing. Thank you for sharing. It helps a solidify some of my strategies. How do we get in touch with you as your discord link no longer works would like to share some of mytrading log journals with you. Thank you again
I could have done without the sound effects
Easy fix. Turn volume off and turn on subtitles
1 hour too much to watch
Did you read the description? This was a learning session that I did for my Discord channel. I use RUclips to store the videos for them to watch again later if they choose as it is easy & free. With that said, it wasn't made for YOU but I do apologize that this FREE content was too long for your liking. You could have stopped watching at any point and it would have taken less than 1 hour
@@docthedaytrader5027 Well said! These rude ignorant people aren't forced to watch any video. The person should just move on (and lose out 🙂 )
I'd like to use your Thinkorswim code. How should I go about that?
Just grab the script and import it. If you are unsure how to do that, you can search my videos and there's one where I walk you through how to import into TOS
HI.. Doc.. and everyone. This is my third day in a row trying to use this strategy. Seems that it works for me on trading SPX option and HSI option (a hong kong index) . I highly recommend all of your to give it a try!.
By the way, I have another question for you. DOC. I wonder if the EARLY MORNING BREAKOUT will be much accurate when compare with the LATE AFTER BREAKOUT? or do you think this is not clear correlation bewteen the breakout time and the strategy’s accuracy?
Finally, highly appreicate if your could share your SCRIPT on THINKORSWIM or TRADINGVIEW?
Thank you once again teaching all of us such a wonderful strategy!
As far as the accuracy of the different times, the best thing to do is backtest it and see if it works. I primarily trade this strategy on Tesla options so I don't have any backtesting data on SPX or HSI. If you decide to backtest those, let us know here. I'd love to see the results.
Here are the ThinkorSwim scripts: This one will auto plot your ORB levels (You can change the end time for different ORB times...5min, 15min etc if you like) tos.mx/Mzryymv. This one will auto plot your Trend Bias tos.mx/2QyWNEO. Just keep in mind, these scripts will only work on ThinkorSwim. Hope that helps!
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