Early Morning Range Breakouts using time and sales

[robocop]

CTRP Long 1000 @ 19.08
Stop @ 18.88

I would take half @ 19.45 (pivot point)

 

[robocop]

BBBY Long 400 @ 68.94
Stop @ 68.50

moving stop to new low

 

[robocop]

CTRP Long 1000 @ 19.08
Stop @ 18.88

Out at 19.50

 

[robocop]

BBBY Long 400 @ 68.94
Stop @ 68.50

Out @ 69.61

 

[robocop]

SNDK Long 700 @ 32.05
Stop @ 31.87

Out @ 32.68 (as said earlier)

 

[robocop]

JAZZ Long 800 @ 43.60
Stop @ 43.45

(not an ERBO trade. use limit order due very wide spread (10ct))

 

[robocop]

Anyone who know how to trade this pattern (if it is a pattern) ?



Heikin-Aski view (but looks similar on candles)

 

[piggybridges]

wolfewave targeting 37.70ish? (not that I trade such patterns. Just taking a guess, lol)

good journal

 

[robocop]

CTXS Long 600 @ 77.66
Stop @ 77.26

(not an erbo)

 

[robocop]

CTRP long 2400 (!) @ 19.59
Stop @ 19.50

 

[robocop]

JAZZ Long 800 @ 43.60
Stop @ 43.45

(not an ERBO trade. use limit order due very wide spread (10ct))

Put on a limit for 400 shares @ 44.00

 

[robocop]

CTXS Long 600 @ 77.66
Stop @ 77.26

(not an erbo)

Taken half @ 78.08 (whole number exit)

 

[robocop]

CTXS Long 600 @ 77.66
Stop @ 77.26

(not an erbo)

Exit other half @ 77.90

 

[robocop]

CTRP long 2400 (!) @ 19.59
Stop @ 19.50

I was afraid it won't work (it didn't waved in sync with the market anymore)
Stopped out @ 19.49

 

[robocop]

JAZZ Long 800 @ 43.60
Stop @ 43.45

(not an ERBO trade. use limit order due very wide spread (10ct))

I got out of JAZZ @ 43.74 (break of ema).

 

[robocop]

Daysummary

















CTRP - Short ERBO trade was a bad trade. I did not use my exit (ema10 and even ema20 broke) rule, so my stop stopped me out. Futures steamed the other way after ticking the stops out in the morning.
CTRP - Long ERBO trade was good. I went away for a while leaving it all by itself (I should not do that if I go live). ema didn't break in the mean time, so if I automated the trade (with ema10 exit) it gave me an equal profit.
CTRP - Good trade, but bad execution. I should have entered at 19.56 or else pass the trade. I should have exit (at least half) at 19.63.
BBBY - Good trade, nice S curve in the morning. I held it longer than I should have. My second exit should have been at 69.30 or so.
SNDK - perfect execution.
JAZZ - I haven't got a name for this pattern, should I call it a daily range breakout pattern? As I mentioned this was a wide spread stock, I used a limit order for entry, but a market order for exit. You see that due the wide spread you get bad fills if you want to get out fast.
CTXS - Another "daily range breakout". Good execution.

@Winattrading, the patterns still exists!

Cheers,
Robocop

 

[robocop]

wolfewave targeting 37.70ish? (not that I trade such patterns. Just taking a guess, lol)

good journal

Thanks, I will lookup that pattern later.

 

[WinAtTrading]

@Winattrading, the patterns still exists!

Cheers,
Robocop

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.

 

[WinAtTrading]

long URBN, SLV, GG, NOV, C, EOG, CHK

Looking like a good day for breakouts.

 

[robocop]

take a look at BMC