Opening Range Breakout Strategy
During the initial hour of trading, the market is typically highly volatile and presents significant opportunities for profit. To capitalize on these opportunities, our opening range trading bot employs fully automated trading to identify and execute trades based on opening range breakouts in various futures markets, such as CL, NQ, ES, YM, RTY and GC. Our strategy, which is simple to learn and implement, utilizes the NinjaTrader platform. It includes detailed instructions and videos on how to set it up and trade opening range breakouts in the financial markets. It is important to note that this strategy is only compatible with the NinjaTrader platform and will not work with other platforms.
An opening range is a specific time frame at the start of the trading day when the market is highly active and presents great profit opportunities. For instance, in this scenario, the market breaks out of the opening range low for a significant goal. The trading strategy employed uses three contracts and achieves its intended outcome. These patterns tend to repeat and, with proper understanding, can be a valuable tool for traders.
The chart in the video showcases the trading of the ES Emini and is subject to technical analysis. The opening range high experienced a rapid breakout, causing the price to surge towards its highs. Our targets for the first and second contracts were successfully met. Although the price trended upward, the last contract triggered a stop loss, resulting in a gain of just over a thousand dollars. These similar patterns occur on a daily basis, hence it is suggested to actively seek one or two daily trades and establish a desired profit objective.
Configure the strategy with your entries/exits, stop loss, trailing stop, breakeven, and multiple profit targets. You can trade one contract or 20 contracts or trade the stock market with no restrictions on the software.
Trading123 is a trading strategy and software provider that offers a system based on the ORB strategy. The Trading123 ORB system uses proprietary algorithms to identify the opening range and generate signals for potential trades based on the breakout direction. The system also includes risk management tools to help traders control their exposure and position in futures trading or the stock market.
Eliminate emotions of trading using an algorithmic trading strategy. Remove human emotions & interference that most traders deal with daily in their trading. Using a strategy is less stressful than trying to pick your entries; there is no hesitation with automated trading.
Enter the range setting by entering the times. We supply all this information in the manuals and videos to assist you in trading.
Enter Order Parameters
Enter how many contracts to trade, targets, stop loss and trailing stop info, and your start and end times. Hands-free trading, all trades are fully automated.
Choose Stops and Profit Targets
Enter the range set by entering the times. We supply all this information in the manuals and videos, which are easy to read and follow and put to work in your trading.
The Opening Range Breakout (ORB) strategy is a popular trading technique that involves identifying the range of prices at which a stock or other financial markets trade during the first few minutes of the market opening. Traders then use this information to make buy or sell decisions based on whether the instrument’s price breaks out of the range to the upside or downside. The ORB strategy can be used in various markets, such as stocks, futures, and forex.
The strategy identifies the opening range, and once the price breaks the opening range, low or high, the strategy will enter the trade. Above is the strategy and the trade results; Strategy goes short on a break of the Opening Range Low. Trading three contracts targets are hit for a significant gain. Then a reversal of the low and target is hit. Often the price action breaks out quickly up or down on these moves, and it’s a one-and-done trade, so you don’t need to trade all day.
The software is available for NinjaTrader 8 only and comes with a lifetime of free upgrades, a trading manual, and videos on how to trade as we do. The charts on this page are trade examples of our strategies and price action that are all traded live.
One of the many patterns that traders often see during the opening range trading session is the quick breakout of the opening range high on three contracts. This trading strategy is specifically designed to capture moves or reversals within the first hour of the trading session. The process starts by executing the quick breakout trade on three contracts, with the strategy hitting its targets successfully.
The best part about this trading strategy is that it can be a one-and-done trade with minimal hassle and effort. Moreover, the strategy comes fully automated with hands-free trading functionality, enabling traders to save time and focus on other aspects of their trading portfolio. Additionally, the strategy includes a brand-new watermark indicator that traders can use to label any chart, making it easier to keep track of key performance metrics.
This chart is an example of a Breakout trade in ES. The strategy gets short on a break of the Opening Range Low, and the price hits our profit targets. There are filters in the strategy that have to meet specific criteria to trigger a trade. In the futures and stock markets, the opening range is one of the most significant chart patterns. Opening range levels are a magnet for price action and are usually followed by high volume. You can trade one contract or 100 contracts with no restrictions on software
In the trade above the strategy goes short three contracts on a breakdown. Then a reversal back off the low and profit targets were hit again. We have preset profit targets for the strategy which is covered in the manual and videos. This pattern repeats itself often, providing us with ample opportunities for one or two trades daily. With our flexible trading approach, you can set your desired profit goals by customizing your entries and exits, stop loss, trailing stop, breakeven, and multiple profit targets.
This a breakout of the Opening Range Low, strategy goes shorts and hits our profit targets. Trading three contracts, on this trade which sold off and hit our goal.The “Opening Range” technique is a powerful day trading method, where prices swiftly either surge or decline, leading to the realization of targets.
The patterns we observe repeat on a daily basis. Market activity may exhibit either a high opening range breakout or a low opening range breakout. These market moves are typically characterized by rapid and intense price fluctuations, with one or two trades being sufficient to conclude the day’s market activity. Our trading strategies are flexible and can be applied to markets across the globe. With our methods, traders have the freedom to trade unlimited contract sizes and levels, allowing them to enhance their overall trading performance
At present, we are executing the trading of three contracts of the ES. We emphasize that the pattern of opening range breakout repeats every day. Hence, it’s pivotal to look out for at least one or two opportunities each day and establish a realistic profit objective. To gain optimal outcomes, we enlist specific entries and exits, multiple profit targets, stop loss, trailing stop, and breakeven while configuring the strategy. It gives us immense pleasure to inform that on all three contracts, the strategy surpassed expectations and brought forth extensive profits. This testifies the power of pre-programmed automated trading, which bypasses hesitation or uncertainty and acts solely on a specific algorithm.
The opening range trading strategy gets short on a breakdown of the Open Range Low and hit its predetermined targets. This trading approach involves monitoring price movements and taking advantage of the momentum generated during a breakout. The opening range, a key component of the strategy, refers to the range of prices for a security or an index during the first few minutes of trading. Traders use this range as a reference point to determine potential price movements and target levels.
The Fibonacci levels suggest the price’s next support or resistance level. These Fibonacci numbers predict where the price will move, and the lines are drawn automatically. The Fibonacci Levels are labeled right on the chart, identifying the support and resistance areas. These are fully customizable to your trading style. In addition, you can edit the line colors, style, and weight. We have various settings for the lines; some are solid, and some have dashes
Clear entry and exit points: An opening range strategy can provide clear guidelines for entering and exiting trades, which can help to manage risk and increase the chances of successful trades.
Well-defined rules: An opening range strategy typically involves a set of well-defined rules for entering and exiting trades, which can help to reduce subjectivity and increase the probability of successful trades.
Potential for consistent profits: By following a set of defined rules and carefully managing risk, it may be possible to generate profits using an opening range strategy consistently.
Reduced emotions: By following a defined set of rules, an opening range strategy can help to reduce the impact of emotions on trading decisions, which can be particularly helpful for traders who struggle with discipline.
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