@bhalla1990, There are two trades actually. One is short which is the bet that gap will be filled. r:R is bad. Next is long which happens when the gap is filled. That has good r:R. Win ratio of ORB is always high when opening is beyond 1%. Statistically it comes near 78%.
P(a) = 78.27%
p(b) = 82.45%
Independent probability based on data from 2016 mar #backtestonce :)
bhalla1990
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@Amit_Ghosh, agree that ORB have a pretty high win ratio, but the suggested trade had a r:R of almost 1:1, in which case to take this the win ratio of trades in long term has to be minimum 50% just for breakeven, which is setting fairly strict targets for self, but kudos to you if you meet that :)
ankushgupta072
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i did not get it on time
JAGAN9938
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thanks
jpnarayan234
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SAD PART IS SL TRIGGERED BEFORE TGT :(
Amit_Ghosh
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@jpnarayan234, Keep SL in closing basis of candle brother. Especially when it is near 13:30 because German market opens that time adding volatility :)
jpnarayan234
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Short position on bank nifty triggered, Mr. Amit.
if any changes kindly update,
Best Regards.
Amit_Ghosh
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@jpnarayan234, Trust me I just shorted way before it triggered and kept a limit at target. I shorted early because the second candle was inside bar and it had broke. SL was relatively small that time.