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Hi Guys,

I've noticed that many of you were done in 10 mins into the day today (June 26) in the chatroom,  so I was wondering what ORB strategy you were using. 

I promised myself to wait for a 5 min ORB, then I saw AMD, MU and NVDA taking off as an ORB on 1 and 2 minute. Then I looked at the 2 mins charts, and further noticed the beautiful setups in premarket, just around at 9:28 am.

I am just wondering if anyone is using the premarket for an ORB? 

I'm going to give that one a go tomorrow morning... 🙂

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I play ORBs within the 5min time frame...it's very volatile but can also be very rewarding...

My approach is agnostic so I don't like to put too many labels, e.g. 1,2, 5, 10 min ORB etc..bottom line is if a stock shows weakness/strength on volume early after the open (usually within the first 15-20 minutes) I will scalp it with size to match the volume that's pushing the move. In recent months I have found the scalping works better since there's often a bounce or reversal in the making so I don't like to be left hanging with a sizeable position. I rather close out and move on to something else that looks good. Scale is important for this to be profitable and that also increases risk in volatility. I have become better and better at reading price action and that's helped me navigate some of the choppiness at the open. Once in a while I get trapped and yeah that's been the source of most hurt...so not getting trapped with size is the area I am working on hardest right now so I can continue to move my PnL a few notches up...my goal is to make my money in the first 30min so I am very focussed on milking explosive moves at the open..I still trade later a bit but don't like being in positions for very long. It's not something that works well for many but this style has slowly grown on to me as my confidence reading price action has increased.

Here's the thing...as a beginner you have to choose a strategy or two that you want to become an expert on, so that's what I have done...working the first 15min real hard and then just watch and snipe for the rest of the day. I wouldn't recommend 1, 2min ORBs if you also like trading a dozen other strategies. It's just too risky and requires a lot of attention and fast responses.

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Hi Marek, Thanks VERY much for your detailed reply. i really appreciate the time you took to reply! 

i have narrowed my trading style down to ORBs. Luckily, i live on the west coast, so i can trade for an hour before i have to head to work, but that really leaves me with trading the open. which, actually fits my relentless style... i seem to get bored 30 mins in...

while, i am just a beginner, i have identified my trading style and it is trading the opens... for now, i'm working on the ORB's and trying to find what time frame suits me the most. I get bored on the 15 mins, so it has to be 5 mins or under.... I'm only focusing on ORBs and using 1, 2, 5, 15 mins charts. lets' see what tomorrow morning brings.:)

thanks again! 

Cheers,

Kinga

 

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I’m still learning, but instead of waiting for a 5 min candle to break up or down I thought it was better to wait for a price level to break instead, whether that is the first minute or takes 15minutes to break. Many times in pre market I see a strong consolidation area building up, it looks like it wants to break over a price level. 

I originally thought when a 5 min candle breaks above the previous 5min candle than I should enter,  but what if in the pre market there is a price level that has not been broken yet and we are not actually breaking out, but just stuck in a range still. 

Edited by justinstrommer9

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