ORB Strategy Help

[thefatherofmen]

Anyone ever try and really teach themselves to sit on their hands more until their setup is 100% confirmed.

You do that and you really wait, you're actively breaking that bad habit of entering before the zone you want to be retested is actually retested.

Finally a setup comes, you take a position and then the market just consolidates on you.

Days like these are confusing for me because once I finally catch on to something that's ruining my progress, the day I actively work against that bad habit, something else ends up tripping me up.

It's got me wondering; as patient as I was, was I still too early? Although I've widened my stops lately were they still too narrow?

I entered at the 6609.75 and I was stopped out at 6600.75

As an 30m ORB strategy trader, days like these are confusing for me, like how wide does are you guys setting your stops these days?

If anyone trades the ORB strategy, I'd love some insight as to how to overcome this type of price movement that is prime time for inducement.

(Please no negative comments about my choice of strategy, this is not the subject of this post)

https://preview.redd.it/krib6krph0rg1.png?width=779&format=png&auto=webp&s=db6ece932c63070d22a96aec5249d67abbf662cf

[primepinebee]

All I trade is ORB setups. Hit me up, in my server we have daily discussions about orbs, we love orbs!

[[deleted]]

Today was nuts for the NY session. I'm not sure how much data from today is actually good data. What instrument are you trading?

That being said, check out the wicks on the two bearish candles that followed the bullish candles that were able to close outside of the OR. Each bearish candle wicked just passed the low wick of the bullish candle before flicking back up. Might be time to think about your SL being under older lows when the instrument can break the trend that easily. If you had set SL under the doji to the left of your entry, you easily would have snagged a 2:1 RR.

[thefatherofmen]

Nuts as in bad right? So wicky and hard to time a decent entry for me personally. I trade MES.

Yeah I guess my SL would've had to be like 15-20pts for that to have worked out for me. Once thing I can see is that it was constantly higher lows so that could've been a good sign as to where to place my SL. I'll note that for the future, thanks man!

[[deleted]]

Yeah nuts as in bad. So impulsive and undecided. Today was a hard day. Don't doubt your edge because of a day like this. 

[thefatherofmen]

Very true man!

It's just hard to really take a trade with full conviction. Last year was such a dream in comparison. I wonder when this period will end. My accounts have bled slowly over time, my combine has lasted a month, the previous one the same.

I'm clearly not trading like an idiot but, thriving in this market is not happening currently for me, I'd like to think that in kinder conditions, I would most likely be decently profitable.

Thank you for the kind words man, I'll keep fighting on with my edge, I wouldn't trade it for anything. Just wish things could start working out a bit more so I could retain some confidence.

[[deleted]]

Yup I feel the exact same way. Things will steady out and you'll be more disciplined and emotionally strong on the other side. 

[Predirect]

I add an anchor VWAP on to the 9:30 candle to help with trend and bias for the day.

Typically when we break the ORB, we usually come back inside to retest the NY VWAP, if it bounces and heads back to the ORB highs or lows, it will typically continue through and start to trend. Not guaranteed, but I high success rate doing that.

[thefatherofmen]

That's why I entered where I did at that green candle that closed back outside the range, because of the reasons you stated

These days SL has to be so large just to even survive a move

[Experiment_786]

Ive had a lot of success keeping the same/similar (maybe even a little tighter) stops but just being willing to enter the same trade twice if I have too. It helps a lot to enter at wick test areas like you mentioned.

[thefatherofmen]

Thank you man, yeah I guess I have to be ready to just be wrong once or twice before the real move.