Has anyone ever heard of daytradetowin system by a guy named John Paul? if so, please provide your feedback....Thanks

[rangerdoc]

It's an open range breakout system.

[bakrob99]

Originally Posted by rangerdoc »

It's an open range breakout system.

Could you elaborate a little bit?

[Maxx]

Hello,

can you tell us more about this system?

thanks.

[rangerdoc]

Most Open Range Breakout systems take the highest high and lowest low of the first few bars after the open. 30 minutes is typical. The setup is long when price goes above the high and short when price breaks below the low. The difference between systems is mostly in the entry trigger, stops & profit target.

The web is overflowing with free information on ORB systems. Just do a Google search. Another good resource (but very expensive) is a book by Toby Crabel, "Day Trading with Short Term Price Patterns and Open Range Breakout". It's likely you'll come across the term "Crabel Patterns" when researching ORB systems.

[bakrob99]

Thanks but I am familiar with ORB system and Crabel, but do you have specific knowledge about the DayTradeToWin system or have you made your conclusions on some other basis?

The reason why I ask, is because I have heard him say that the price for entry is known befor ethe opening bell which rules out any ORB type system unless he is using the ORB as a confirming indicator to a pre-market entry price.

[swansjr]

I don't know the system in question. I do not have the system or PDF. However, if you know your entry price before the open then you must be taking into account; 1) price action in the overnight session or 2) price action of the previous day or 3) both.

One could easily set up a price range two hours before the market's 8:30 central open and use that as the "range" for a range-breakout.

I just looked at his videos and I would bet he is using a portion of the overnight session to establish the range. He then looks for a breakout above/below that range and enters in the direction of the breakout on a pullback.

Hope that helps.

[bakrob99]

Originally Posted by swansjr »

I don't know the system in question. I do not have the system or PDF.

Thanks for your thoughts/analysis, but I am actually interested if ANYONE at TL has tried it out or knows any facts about the system.