Opening Range Breakout Strategy for Beginner
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The opening range breakout (ORB) is a well-established trading strategy for stock day traders.
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The next slides detail observations while trading the ORB on short-term time frames such as 1-minute, 5-minute, and 15-minute price charts.
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After the opening bell, stock trading usually sees some of the most significant price swings of the day.
The Opening Range
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Trading a specific number of shares or a fixed dollar amount makes little sense when trading the opening range breakout.
Position Sizing
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Use the height of the reference candle to calculate the number of shares traded. The use of a fixed risk and fixed target simplifies trade management.
Fixed Risk, Fixed Target
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The number of shares traded remains unchanged and is determined using the reference candle’s Open, High, Low, and Close (OHLC).
Fixed Target, Trailing Risk
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If you hit a home run, using a fixed risk per transaction with no defined target can result in significant returns.
Fixed Risk, No Target
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