Opening range breakout on these timeframes can be challenging due to risks of false breakouts and market volatility. A helpful tip is to wait for clear breakouts, use volume confirmation, and set appropriate stop-loss levels. Practice on different timeframes to improve accuracy. Thanks for an insightful video
Well said. Any experienced trader knows that successful trading takes time. There is always some level of risk, which needs to be understood and managed.
The problem for me is that some strategies are extremely difficult to grasp and even more difficult to incorporate into my trading plan. To be honest, it's exhausting, blown my account twice now.
@@chriskitzlinger I recommend you try till you find what works for you and stick to it. However, not everyone is built for the tides of the market as it comes; if you don't have a passion for trading you're probably better off hiring an pro trader to manage your investments. It's a safer way to earn while learning.
@@aidanharbach Trading has always been about supplementing my earnings for me, so i wouldn't exactly say i have a passion for it. I've considered hiring one, just never found a proper recommendation. Do you have any on your roster?
It's safer to have support and resistance set up at higher time frame before trading these break outs.. usually these break outs will halt at a level of support or resistance then quickly reverse the other way. So using those support levels to give you a reference on where the trade is at can guide you into a better entry... I use to blindly trade into these massive breakouts and was only profitable about 10% of the time. But with being patient and having more understanding of the market your in it is possible to do.
break from the open also you get stopped out quickly. the opening range is very volatile, I think can work better only if the open is taking highs or lows, after that is better to enter at previous day close or bounce from h/l
awesome video, thats my day in a nutshell : ), im usually done for the day in 15-45 minutes, usually 20 to 100 contracts, calls or puts, its all the same to me : )
Dear TT: At 4:40 minutes and onward: Excellent demonstration and philosophy for day-trading utilizing a stop buy long with a bracket order, breaking resistance, is an efficient form of program trading, which deprograms the emotions. One doesn't even need to be glued to the screen all day. Well done. This is the art of trading. The education is sublime -- though, the reality is daunting! -------------------------------------- However, though, no one knows the direction that any stock will take -- but the solace is situated knowing the possible programmed outcomes with losses that will not tear up one's account.
Opening range breakouts can work, but if it is a false break out of the opening range taking liquidity out it can reverse, fast have a stop loss always in play. The 30 minute time frame with the 8/21 exponential moving averages cross over(the 8 crossing the 21 direction) works well with your strategy and if the breakout is true the price action will keep moving and revert back to the 8 EMA, and still hold above or below it keeping the trend moving in that direction. Being above the midnight anchored VWAP through the trend confirms a bullish trend if it is a bullish trend. Most trends have a reversion to the mean so take profits and wait for continuation.
But how do you decide going long or short? Is it based on the first 2/5/10min (whatever interval you pick) opening candle and its close? Like if it closes red, then you'll put the order in buying under the close of the opening candle with a stop loss at the top of the opening candle and vice versa if I'm following correctly?
I go to finviz.com and I filter it to search for large caps in the US and then I go through the names I'm familiar with and make sure they have a tight bid/ask spread. Hope that helps!
Hi there nice video and clear way of speaking thanks . I intend to make a stock division in my company and have someone work for me if i put 300 k usd what's the annual range of profit expected from history i mean.
Hello, hope all is well. If the higher time frame is signaling bearish can I use the high of the 5 min candle to set a limit order for a sell to get a sniper entry? Also, my favorite stock to trade is US30
I am just wondering does the range include the wicks or only the open and close of the candle plz explain sir?? Also where you put your stop loss if you trading 15 minute?
@@FailFlopFly-SalesforceImports thank you for the response….I actually just joined your Facebook group and looking forward to what I can take and possibly bring to the group!! I do have one question to follow up with, when trading this way, how do you get a market bias??
Thank you so much. This is well detailed and straight to the point. You've gained a subscriber. Do you use ORB only when market opens or throughout the trading day?
What happens if you get triggered into the trade but the target and stoploss doesn't hit (just chops around the opening range). Do you sell at the end of the day?
Maybe I am missing something, but it looks like the trade was triggered before the first 15 minute candle even closed? The gray shaded area is pre market.....
Hey Jessie, I tend to trade in whatever direction the stock wants to trade in. If it starts to move short, I go short and if it move long, I go long. I've learned that my bias doesn't really matter, or help for that matter. The 15' time frame is just my preference, it's not too fast and not too slow. Thanks for the question!
Hey Louis, the best way for us to interact is through my RUclips membership...if you click the 'JOIN' button on the RUclips banner, I'll send you a Slack invite to my private channel and you can chat questions to me any time you want. You can also see all of my trades here. It's just $25 / mo.
I'm bad at picking direction, so I like to place an order to go long as well as an order to go short....then whatever trade gets triggered, that's the direction I for a 2:1 ratio! Thank you for the question!
Correct me if I’m wrong, you set an order to start when the first big green five minute candle of the day is broken, and you set a stop right below it?
Hey mate, great video. This is generally what I've been trying to do for a couple months now, just getting better at it. Don't you think putting the stop loss all the way at the bottom is a bit too much of a risk? You can lose a ridiculous amount of money if it stops you out. Instead don't you think it would be better to put the stop loss in the nearest support on the 1min/5min chart?
Thanks so much @Saquib B!! You can absolutely place your stop at the nearest support.. Regardless of where you put it, just divide your risk unit by whatever your stop loss happens to be and you'll have the exact number of shares you need in order to consistently control your risk! Cheers!
@@FailFlopFly-SalesforceImports Thanks. The only trouble I'm really having now is selling and setting my targets. I often tend to take my profits too soon.
Best opening trade strategy video I’ve ever seen, amazing job jimmy! Loved how easily you explained everything. Just one question from the video would be how successful do you think this method is, 60%, 70%...im curious if you backtested or know how risky this method is. Thank you!
Thank you for the comment and question, Yosef! I have not back tested this specific strategy, but one that is similar. My guess is it's close to 50/50 specifically if you apply the right management technique to it. Let me know if you start back testing it. Cheers!
did u reverse this type of trading? let me explain, in the first example u buy 200 in the 5 min breakout, and u put you stop loss bellow, did u ever try put 600 or 800 in your stop loss , this way if the market reverse u still in the trade. Im doing this in futures, never had a loss, after the third reverse maybe u cant got any profit, i saw four reverses one time only and was an small loss!
@@FailFlopFly-SalesforceImports try this, first trade one unit, first reverse, 5 unites, third 10 units, forth 20 units. Units can be 100 share, or one future contrat! Now im studing to using linear gradient on it, dont know if u ever heard about it
@@FailFlopFly-SalesforceImports Man, it's a little hard to explain, look for videos with the words gradiente linear, you'll find several in Portuguese, but there's a translator, you'll probably understand better, it's more or less a martingale, but we'll benefit from the price stay in a certain region longer
This strategy is about 48% accurate so your P&L ratio is the most important metric. Most people can't stay in for larget profits and that's why most people dont use this strategy
@@FailFlopFly-SalesforceImports yes, because you are at 50% or less you'll need a higher win/loss value ratio to be profitable. Its the kind of system a bot can do using fib. All entire are hard coded so backtesting using tick data is accurate
So, let's see all the flaws to this strategy. If the trade is succeeding, forget the target, trailstop it, let the winner run bcause u r likely to have many losers and more than just break even. If the ticker is not liquid, or becomes illiquid due to a big drop, the stop doesn't guarantee an execution at the desired price. Your exit could be much lower so there goes the 1 for 1 idea. Basically, the logic behind this idea is that things in motion tend to remain in motion until some external force changes the trajectory. In trading, that happens all the time.
Opening range breakout is a popular trade. Lots of futures traders use it and I recently posted a video showing myself creating the bare bones of a opening range breakout strategy for emini futures on the TT platform from Trading Technologies. You can check it out here: ruclips.net/video/uIHOdV_TIdQ/видео.html
Comment below and tell me your favorite stock to trade!!
Opening range breakout on these timeframes can be challenging due to risks of false breakouts and market volatility. A helpful tip is to wait for clear breakouts, use volume confirmation, and set appropriate stop-loss levels. Practice on different timeframes to improve accuracy. Thanks for an insightful video
Well said. Any experienced trader knows that successful trading takes time. There is always some level of risk, which needs to be understood and managed.
The problem for me is that some strategies are extremely difficult to grasp and even more difficult to incorporate into my trading plan.
To be honest, it's exhausting, blown my account twice now.
@@chriskitzlinger
I recommend you try till you find what works for you and stick to it.
However, not everyone is built for the tides of the market as it comes;
if you don't have a passion for trading you're probably better off hiring an pro trader to manage your investments.
It's a safer way to earn while learning.
Spot on! Couldn't have worded it any better myself.
@@aidanharbach Trading has always been about supplementing my earnings for me, so i wouldn't exactly say i have a passion for it. I've considered hiring one, just never found a proper recommendation. Do you have any on your roster?
First RUclipsr to actually explain in detail this strategy that I've seen. Thank you for such a good video!
Glad you enjoyed it!
It's safer to have support and resistance set up at higher time frame before trading these break outs.. usually these break outs will halt at a level of support or resistance then quickly reverse the other way. So using those support levels to give you a reference on where the trade is at can guide you into a better entry...
I use to blindly trade into these massive breakouts and was only profitable about 10% of the time.
But with being patient and having more understanding of the market your in it is possible to do.
break from the open also you get stopped out quickly. the opening range is very volatile, I think can work better only if the open is taking highs or lows, after that is better to enter at previous day close or bounce from h/l
Thanks for your input, Victor!
Seen many videos on opening range this is the best so far
awesome video, thats my day in a nutshell : ), im usually done for the day in 15-45 minutes, usually 20 to 100 contracts, calls or puts, its all the same to me : )
Do you trade SPY contracts?
Dear TT: At 4:40 minutes and onward: Excellent demonstration and philosophy for day-trading utilizing a stop buy long with a bracket order, breaking resistance, is an efficient form of program trading, which deprograms the emotions. One doesn't even need to be glued to the screen all day. Well done. This is the art of trading. The education is sublime -- though, the reality is daunting! -------------------------------------- However, though, no one knows the direction that any stock will take -- but the solace is situated knowing the possible programmed outcomes with losses that will not tear up one's account.
I appreciate your comment, thank you so much! You get it!
Excellent Video, thanks for explaining I, I read a lil bit about opening range breakout, now is more clear. Thanks once again, already subscribed!!!
Opening range breakouts can work, but if it is a false break out of the opening range taking liquidity out it can reverse, fast have a stop loss always in play. The 30 minute time frame with the 8/21 exponential moving averages cross over(the 8 crossing the 21 direction) works well with your strategy and if the breakout is true the price action will keep moving and revert back to the 8 EMA, and still hold above or below it keeping the trend moving in that direction. Being above the midnight anchored VWAP through the trend confirms a bullish trend if it is a bullish trend. Most trends have a reversion to the mean so take profits and wait for continuation.
very intruiging blew my mind video ! Question regarding the first candle - is that the first candle at the start of the NY session ?
What if there is resistance/support right above/below the opening range?
Awesome video!!! :)
But how do you decide going long or short? Is it based on the first 2/5/10min (whatever interval you pick) opening candle and its close? Like if it closes red, then you'll put the order in buying under the close of the opening candle with a stop loss at the top of the opening candle and vice versa if I'm following correctly?
great video! Thank you,
Nice vid, so how do u personally determine bias off the ORB candle?
I actually transitioned to only trading to the short side as my metrics showed a better win rate in that direction...great question.
What is the win rate for this strategy in your experience (assume we are using only the top growth/strength stocks that respect recent MA's)?
looking to concentrate on SPY and AAPL with this strat...suggestions?
Thanks for explaining.
How do you find these stocks?
I go to finviz.com and I filter it to search for large caps in the US and then I go through the names I'm familiar with and make sure they have a tight bid/ask spread. Hope that helps!
@@FailFlopFly-SalesforceImports Ya Thank u
The 5 minute scares me, but I'm loving the strategy so far. 15 minute seems to be stronger.
Thanks for the comment, Kelly! Yes, 5' is fast! ha
Dear Kelly: Pure horizontal S/R should be uniform. You could wait fifteen minutes before your first trade if using the five-minute candles.
Can you set a bracket with options as well 🤔
Hi there nice video and clear way of speaking thanks . I intend to make a stock division in my company and have someone work for me if i put 300 k usd what's the annual range of profit expected from history i mean.
is that still a long term profitable strategy?
Great stuff again, cheers Jimmy! :)
Thank you. Rob.....I really appreciate the comment!
really break breakdown of strategy! thank you for your time
You are very welcome, thank you for the kind words!
Hello, hope all is well. If the higher time frame is signaling bearish can I use the high of the 5 min candle to set a limit order for a sell to get a sniper entry? Also, my favorite stock to trade is US30
I am just wondering does the range include the wicks or only the open and close of the candle plz explain sir??
Also where you put your stop loss if you trading 15 minute?
Hi not sure if you’ll get back to me but is the white line a 20ma and what’s the red one in this video? Thanks for the content!!
Hey, @stephengibbons72...thanks for the question! The white line is the 20 SMA and the red is the 50 SMA. Let me know if you have any other questions!
@@FailFlopFly-SalesforceImports thank you for the response….I actually just joined your Facebook group and looking forward to what I can take and possibly bring to the group!!
I do have one question to follow up with, when trading this way, how do you get a market bias??
what happens if you get filled when it breaks but it never closes above so it reverses?
Thank you so much. This is well detailed and straight to the point. You've gained a subscriber. Do you use ORB only when market opens or throughout the trading day?
Hey @Da Sisters! So glad to have you as a subscriber! Yeah, my preference is to trade ORB's at the open.
Why would you not put a trailing stop loss when it climbed?
Trailing stops sometimes don't give the stock enough breathing room. Thanks for the question!
HI, I dont know how to setup my screen like yours. Is there a way you can set a time for a online meeting?
I can definitely give you insight on this, just grab a channel membership and we can Slack about this issue.
What happens if you get triggered into the trade but the target and stoploss doesn't hit (just chops around the opening range). Do you sell at the end of the day?
Exactly, however, I've never had this happen. Thanks for the question, Andrew!
Maybe I am missing something, but it looks like the trade was triggered before the first 15 minute candle even closed? The gray shaded area is pre market.....
The trade was triggered on the 7th - 5 minute candle...so about 30-35 minutes into the trading day. Let me know if you have additional questions!
Hi Jimmy, another great video. Thank you. How you decided long or short when u setting up those brackets? Also, the reason u use 15 mins? Thank you
Hey Jessie, I tend to trade in whatever direction the stock wants to trade in. If it starts to move short, I go short and if it move long, I go long. I've learned that my bias doesn't really matter, or help for that matter. The 15' time frame is just my preference, it's not too fast and not too slow. Thanks for the question!
Hi how can I schedule some of your time?
Hey Louis, the best way for us to interact is through my RUclips membership...if you click the 'JOIN' button on the RUclips banner, I'll send you a Slack invite to my private channel and you can chat questions to me any time you want. You can also see all of my trades here. It's just $25 / mo.
Do you have a search criteria to seek out these tickers that are ideal breakouts?
I don't, I just focus on liquidity!
@@FailFlopFly-SalesforceImports what does that mean?
Is there a reason you prefer 15 min? Thanks
I provided the greatest win rate when I back tested my strategy. Thanks for the question!
NIO has been pretty easy and profitable to scalp, almost daily.
Thanks for the comment, Jason!
Can this work with Options?
I'm sure it could, I just don't have that info. Lots of variables to content with, like volatility as well as extrinsic value of the options contract.
Nice..Info..
Good..Jimmy Bro..
Thanks..👍👍🙏🙏🌞🌞🌿
You're welcome, thank you!!
Сите ми викате преплатисре со денар и како немам пари
Hey jimmy, another question for ya...do you only go long if that first 15 min candle is green? If it’s red would you short?
I'm bad at picking direction, so I like to place an order to go long as well as an order to go short....then whatever trade gets triggered, that's the direction I for a 2:1 ratio! Thank you for the question!
How Can I edit the TP and SL after I placed the market order / limit order without setting the bracket ?
Right click on it and it and select, "Cancel / Replace Order." This will allow you to edit either of them. Hope that helps!
@@FailFlopFly-SalesforceImports after I place the market order , there’s nothing for me to edit ?
Correct me if I’m wrong, you set an order to start when the first big green five minute candle of the day is broken, and you set a stop right below it?
My preference is trading the 15' chart, and in this video I was consistently using a $0.20 stop for each trade.
Hey mate, great video. This is generally what I've been trying to do for a couple months now, just getting better at it. Don't you think putting the stop loss all the way at the bottom is a bit too much of a risk? You can lose a ridiculous amount of money if it stops you out. Instead don't you think it would be better to put the stop loss in the nearest support on the 1min/5min chart?
Thanks so much @Saquib B!! You can absolutely place your stop at the nearest support.. Regardless of where you put it, just divide your risk unit by whatever your stop loss happens to be and you'll have the exact number of shares you need in order to consistently control your risk! Cheers!
@@FailFlopFly-SalesforceImports Thanks. The only trouble I'm really having now is selling and setting my targets. I often tend to take my profits too soon.
@@MosestheMuslim same thing herr
Thanks.
Good video
I really appreciate that, thank you @fausto412!!
You shouldn’t take profit at rrr, you should based on your support/resistance, gap, order block etc
I feel like I'm in the range now ,,, Ty
Hey, Jerry....you'll break out soon enough. Just gotta put a plan together with some sound mechanics and consistency.
Best opening trade strategy video I’ve ever seen, amazing job jimmy! Loved how easily you explained everything. Just one question from the video would be how successful do you think this method is, 60%, 70%...im curious if you backtested or know how risky this method is. Thank you!
Thank you for the comment and question, Yosef! I have not back tested this specific strategy, but one that is similar. My guess is it's close to 50/50 specifically if you apply the right management technique to it. Let me know if you start back testing it. Cheers!
@@FailFlopFly-SalesforceImports If the win rate is 50% and Risk reward is 1:1 then how is it profitable? Wouldn't it be close to break even?
did u reverse this type of trading? let me explain, in the first example u buy 200 in the 5 min breakout, and u put you stop loss bellow, did u ever try put 600 or 800 in your stop loss , this way if the market reverse u still in the trade. Im doing this in futures, never had a loss, after the third reverse maybe u cant got any profit, i saw four reverses one time only and was an small loss!
That's a super interesting thought, Andre....let me do some back testing and look into this further, thank you!
@@FailFlopFly-SalesforceImports try this, first trade one unit, first reverse, 5 unites, third 10 units, forth 20 units. Units can be 100 share, or one future contrat! Now im studing to using linear gradient on it, dont know if u ever heard about it
I haven't heard of this, feel free to share more if you like.
@@FailFlopFly-SalesforceImports Man, it's a little hard to explain, look for videos with the words gradiente linear, you'll find several in Portuguese, but there's a translator, you'll probably understand better, it's more or less a martingale, but we'll benefit from the price stay in a certain region longer
Thanks, Andre....I'll take a look!
Hi jimmy, do you still the ORB strategy and is it only with stocks
My style is continuing to evolve but yes I'm still trading a form of an ORB...thanks for the question!
This strategy is about 48% accurate so your P&L ratio is the most important metric. Most people can't stay in for larget profits and that's why most people dont use this strategy
Thanks End! So are you saying you have to hold for a larger R in order to make this work? Cheers!
@@FailFlopFly-SalesforceImports yes, because you are at 50% or less you'll need a higher win/loss value ratio to be profitable. Its the kind of system a bot can do using fib. All entire are hard coded so backtesting using tick data is accurate
I wish I knew how to backtest a large sample of data.
@@FailFlopFly-SalesforceImports mostly you would backtest 6 months tick data
So, let's see all the flaws to this strategy. If the trade is succeeding, forget the target, trailstop it, let the winner run bcause u r likely to have many losers and more than just break even. If the ticker is not liquid, or becomes illiquid due to a big drop, the stop doesn't guarantee an execution at the desired price. Your exit could be much lower so there goes the 1 for 1 idea. Basically, the logic behind this idea is that things in motion tend to remain in motion until some external force changes the trajectory. In trading, that happens all the time.
You can modify this strategy to fit your style any way you like...let me know how it does for you. Cheers!
Opening range breakout is a popular trade. Lots of futures traders use it and I recently posted a video showing myself creating the bare bones of a opening range breakout strategy for emini futures on the TT platform from Trading Technologies. You can check it out here: ruclips.net/video/uIHOdV_TIdQ/видео.html
that's more like a 30min orb
You got it
Stockconsultant.com. ever heard of it? What u think?
Nah, you don't want that! Wouldn't you rather learn to fish instead of relying on someone else to give you fish??
@@FailFlopFly-SalesforceImports true
its been 7 months , so is this still a profitable strategy or not?wtf
hello? you dead?
Simple strategy and great demo visuals. Helps me quickly learn it, to the point. Keeps me interested. Thanks.🤑😀👍
You got it! Thank you for the comment!