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MePip 5M ORB Trading

  • #81
  • Apr 30, 2025 12:42pm Apr 30, 2025 12:42pm
Quoting driven18
My main bread and butter is Dow Futures, today I decided to use 2 methods, pipcruiser for the very first live trade, and my personal..it looks like they worked out well, pipcruiser worked out for + 100 points. Pipcruiser, mate, I own you a pint. {image}
Hey Driven

Do you use a similar set up for YM futures as PC? Using the midline of the 5min ORB as the stop and 1R, target 2.5R and add ons at 1.5 R?
Have you tried other futures indices?
  • #82
  • Apr 30, 2025 12:48pm Apr 30, 2025 12:48pm
Quoting Andy1trades
{quote} Hey Driven Do you use a similar set up for YM futures as PC? Using the midline of the 5min ORB as the stop and 1R, target 2.5R and add ons at 1.5 R? Have you tried other futures indices?
I only trade Dow Futures. If and when I trade ORB, I use my own flavors of statistically significant MM(many years of hard work) for SL, TP, Trailing.
  • #83
  • Edited 6:12pm May 1, 2025 5:28pm | Edited 6:12pm
Quoting RoboSeer
{quote} @RickM Was the above-mentioned 42% win rate calculated with a 10-pont Profit Target? If yes, what was the Stop Loss? Thanks!
Hi RoboSeer

The take profit and stop loss was set about 15 points.
What this test proves is one of the most obvious truths about trading also is totally confirmed for ES during New York open.
The market moves in a way to trap the most traders on the wrong side of the market. Therefore there must be a lot of liquidity on each side of the 5 minute ORB, and the market moves against the bigger imbalance. What this means is that if more Selling limit orders are stacked above the 5 minute ORB, the market moves bullish to trap the greatest amount of participants on the wrong side of the trade.
So with ES, it’s generally better to Fade at the first breakout if we see sights of price action resistance shortly after BO and it’s generally better to take the trend if price then moves to the opposite 5 minute ORB.

My strategy is always to look at Ask’s and Bid’s balance on level 2 data to see whether more Buyers or more Sellers are entering the market and then use market orders to trade against the most participation.
You can’t have a trend until the most amount of people entering a market are wrong.


Cheers
Trading thin liquidity at the boundary of the charts
  • #84
  • May 5, 2025 12:59pm May 5, 2025 12:59pm
Quoting pipcruiser
{quote} Hi, I trade 5-10 stocks per day. Re. ATR if say ATR 100 is 1 point, ATR 100 X5 is 5 points PC
Hi PC, a few of questions:

1. When you mentioned as a filter: "Also if there is a weekly/monthly/yearly high/low level close, abort trade" - do you mean that if one of those levels is an interrupt between your entry and the profit target, abort trade, or do you abort the trade if one of those levels is within the ORB range itself? Are there any other levels worth considering like the 3 day high/low, yesterday's open/ close, current week open, current month open?

2. Profit targets and add-ons. When you add on at 1.5R, is your profit target for the add on, the same as the original entry at 2.5R, or is it another 2.5R from the point of entry of the add on? When looking at the ORB range, a measured move of exactly the ORB range would provide a 2R return (with SL at 0.5 ORB range) and you often see pullbacks occur at exactly that level once the ORB has broken, so curious as to why you go for 2.5R? Was that just from experience?

3. When you play futures indices, (I think you just trade NQ), do you consider trading it everyday or do you have a screening process that tells you when it is more likely to produce a favourable outcome?
  • #85
  • May 6, 2025 12:52am May 6, 2025 12:52am
Quoting Andy1trades
{quote} Hi PC, a few of questions: 1. When you mentioned as a filter: "Also if there is a weekly/monthly/yearly high/low level close, abort trade" - do you mean that if one of those levels is an interrupt between your entry and the profit target, abort trade, or do you abort the trade if one of those levels is within the ORB range itself? Are there any other levels worth considering like the 3 day high/low, yesterday's open/ close, current week open, current month open? 2. Profit targets and add-ons. When you add on at 1.5R, is your profit target...
Hi Andy.

1: When TP is over/under that level.

2: The same target as first trade. (less profit on 2. trade)

3: I only trade futures in the direction of the daily trend since open, so if NQ bullish for the day = only longs.

PC
Less is more...
  • #86
  • May 6, 2025 6:57am May 6, 2025 6:57am
Hi PC, ive been looking into orb for a while but never implemented it. What do you consider to be too big of a range to trade?
  • #87
  • May 6, 2025 4:57pm May 6, 2025 4:57pm
Quoting Tanattboy
Hi PC, ive been looking into orb for a while but never implemented it. What do you consider to be too big of a range to trade?
Hi, that question was answered above in the thread. PC uses a RTH 100 period ATR (5min) and aborts the trade if the range is > 5x ATR
  • #88
  • May 6, 2025 9:13pm May 6, 2025 9:13pm
Have you ever tried this strategy with XAUUSD or others in forex?
  • #89
  • Last Post: Aug 16, 2025 1:10pm Aug 16, 2025 1:10pm
@Pipcruiser, I know you have a DM in your mailbox.
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