ES 7-13-16

looking for O/N midpoint today since failure yesterday...for me that will hopefully end up in my magnet price zone of 47 - 48....hope to be back with charts and stuff next week

I'm guessing this liquidation break at the open is working out well for you, Bruce.

it did and today I added on the one minute low OR breakdown...great for when we open out of range and value and have some reason for the trade

Originally posted by ackwired

I'm guessing this liquidation break at the open is working out well for you, Bruce.

the OR trade has lots of promise especially when we factor in our lines and our probability targets of midranges, O/N highs and lows and pivot numbers...certainly isn't perfect but a great mechanical way to trade

Originally posted by BruceM

the OR trade has lots of promise especially when we factor in our lines and our probability targets of midranges, O/N highs and lows and pivot numbers...certainly isn't perfect but a great mechanical way to trade

The OR trade definitely works. One of our group of KISS traders ( 5 old farts trading in the basement) uses it exclusively. He takes the 1M OR break for 2 points and 2 points only. He requires the OR to be < 2 points for his stop on the other side. If 1M OR is > 2 or that trade fails, he will put a trade on using 15M OR, again for 2 points and 2 points only.

Depending on volatility he will only have 6 or 7 trades per week, with 5 or 6 winners for 2 points, generally net 8-10 points for the week.

He makes his money by having sufficient size. For many of us, that has been the key to ES success, small stop, slightly larger target and size=consistency.
Since stops are small the accounts do not need to be huge, average 5-6K per contract traded.

Good luck to all.