Re: Early Morning Range Breakouts using time and sales Quote:
@Winattrading, the patterns still exists!
Cheers,
Robocop
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Yesterday was the perfect day to trade breakouts! So well done.
The market pretty much rallied from the open to the close with a bit of pausing here and there. It proves again how important it is to follow the futures. Now its just a matter of getting a hold of the distinction of when is a good time to be trading this strategy due to the sentiment or market conditions being right, or when is a good time to be staying out of the market as the markets decide what to do and oscillate. There will always be days like this, but they dont come that often, so how do you know when?
If you look at your results over the last month, you would find far better profits if you only traded ORB when the market is working in your favour. i.e. Taking shorts when the market is bearish, and taking longs when the market is bullish.
I'm still getting my head around the trading times, as this can also have a dramatic effect on your profits.
Good trading Robocop. |