Friday, October 21, 2011

Niftnear ORB Trade

How do you day trade? I would suggest: have a view on the direction, then use a method for entry and exit. On October 14, our view was for a rally in the Nifty. The method was the ORB - Opening Range Breakout. This is how the trade went: Nifty breaks its first 15 min high with high volume. We buy at breakout (5100) with a stop loss at first 15 min low (5056). Nifty retrace twice near to its low but at the end it closes higher. Exit should be at 3:20 at market price. This trade given us a profit of almost 50 points.

5 comments:

Nitin Gupta said...

Hi Sir,

There would be a opening range breakout everyday.... would it be useful to only trade ORB on gapdays

RS said...

Sir,

good to see u back :)

Cheers'
RS

gulshan said...

When would u trade a ORB type of setup sir? always or when u have a view? If its based on a view.... what view like overseas markets news or any other information that helps u form tht view.

samit said...

Does this type of trade (ORB) works in trending Markets only or in Volatile sessions also??

RainMaker said...

For almost 50 points of profit you are taking almost 50 points of risk.

One will not take long enough time to go broke trading Intrady.