Early Morning Range Breakouts using time and sales

This is a discussion on Early Morning Range Breakouts using time and sales within the Trading Journals forums, part of the Reception category; Hi there, I use the following system/method paper trading with ProRealtime. Stock selection with a ProScreener program: indicator1 = ADX[14] ...

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Old Apr 27, 2012, 10:43pm   #1
 
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Lightbulb Early Morning Range Breakouts using time and sales

Hi there,

I use the following system/method paper trading with ProRealtime.

Stock selection with a ProScreener program:

indicator1 = ADX[14]
c1 = (indicator1 >= 12)
c2 = close > 5 AND close < 500
c3 = (summation[3](volume)/3) > 1000000
c4 = AverageTrueRange[3](close) > 2
c5 = Volatility[10,10] > 8
SCREENER[ c1 AND c2 AND c3 and c4 AND c5] (DI[3](close) AS "daily momentum")

to filter good daily momentum stocks on the NASDAQ.

Main strategy:
Setup Early morning opening range (30 min):
Entry: breaks high of morning range with 1000 shares. This could be anywhere in the day, not only in the morning. Confirmation of time and sales (no large opposite orders), and not against overall market (15 min)
First exit/target: high or low of previous wave
Second exit: Whole number or half whole number
Physical Stoploss: stoploss order previous high or low of last two major waves
Mental stoploss: break of EMA(10) or other good reason to get out (such as bailing out if breakout does not occur as expected)

Example:
perfect-erbo-7.png

I invite everyone with a similar strategy to update his/her results or comments.

Regards,
Robocop

Last edited by robocop; Apr 27, 2012 at 10:56pm.
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Old Apr 28, 2012, 10:31pm   #2
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread Here my watchlist for April 30:
watchlist-04-30-2012.jpg

The following stocks have good potential for large (easy) moves:
MDRX
MXWL
YNDX
QCOR
CTCT
SCSS
PANL
LULU
BIIB
ALXN
ITRI
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Old Apr 30, 2012, 3:03pm   #3
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread AKAM 1000 x short @ 32.31
Stop @ 32.94
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Old Apr 30, 2012, 3:17pm   #4
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread
Quote:
Originally Posted by robocop View Post
AKAM 1000 x short @ 32.31
Stop @ 32.94
Exited @ 32,73 break of EMA(10) with a loss of $ 420
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Old Apr 30, 2012, 3:21pm   #5
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread MDRX 1000 long @ 10.69
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Old Apr 30, 2012, 3:42pm   #6
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread UTHR 1000 Short @ 43.76
Stop @ 44.27
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Old Apr 30, 2012, 3:52pm   #7
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread AKAM 1000 SHORT @ 32.26
Stop @ 32.85
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