OTC!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 🙃

Has this been done? If so, where can I find it. Thanks!

I had the same issue for many months when trading ORBs. I would have to be at 65% win rate to be profitable even though I always stuck to my stops. I am profitable now even though I have a win% around 50%. These are the changes I made. 1) Make sure your R is completely fixed. If not this causes two issues. Unsure how the subconscious does it but you will continuously see on the big winners you took too little risk and the big losers too much. Also, it is very difficult to analyze your trades if the R is not fixed. 2) Do what you need to do to control FOBW (Fear Of Being Wrong). I instinctively would take a partial way too early so I could lock in a winner. Now I try to set the partial profit locations (at least the first one) before I take the trade. Still it took me almost a year before I had the discipline to wait to 1R before I take the first partial. 3) Move stop to B/E after first partial. 4) Analyze journal to determine which ORB is best. One minute in time between ORBs can be a completely different strategy. I found out I was poor on the 1/2/5 min ORB and was good and the in between. So the 30sec, 1,5min and 3min ORBs are my best. 5) This is the change that finally placed me into profitability for ORBs. Add a few cents to your stop. I kept missing huge runs by the price dropping and taking me out by a penny or two and going for a 10R run. I kept telling myself it was a coincidence there isn't an algo going to my stop and taking me out. But after a 100 or so times I realize that is exactly what the algo is doing. Because I have set my stop in the same place as the other 10,000 or so retailers. So we all can be taken out at the same penny or two because we all chose to have our stop 5 cents below VWAP or something like that. So I added a couple of cents to my hot key. I still choose the same stop as always but my hot key makes the stop a couple of pennies deeper. Same for my B/E stop key I added a a couple of cents. Now, at least half the time, the price drops just misses my stop and the stock takes me with it on its big run.

I'll second what Justin said. You're being loose with your stops, and quick with your profits. It's something every trader struggles with, but you need to train yourself to be tight with your stops and let your winners run. Here is a technique that has really helped me personally when I'm already in a green position - I pretend I'm not in the position, and I pretend that I'm evaluating it as a new trade in the direction that I want to go (long/short). For this example, I'll just say we're green in a long position. I'll ask myself, pretending I'm not in a position: Would I enter right now? If yes, then hold. If not, then why not? If I won't enter because the trade will probably continue to climb, but it's already made an initial move so I can't get in without a good risk/reward, then hold. If I don't enter because I'm simply uncertain as to whether it will continue long or not, then I consider a partial. If I don't enter because it looks overextended, or it MAY reverse/pull back, then that's a good time to do a full exit. Hope this helps!

Hard to say without a little more detail, but in general you're going to need your winners to run longer before taking a partial. I remember finding it hard to trade ORBs when trading with a size that small. Because it's harder to scale out with any significant impact on your P&L and your commissions will kill you. Your mileage may vary, but one thing you could try is when your entry breaks in your direction, move your stop up to break even without taking any partials. This way you can protect yourself if it reverses before hitting 2R or whatever level you're looking for.