"An Opening Range Breakout is a trade taken at a predetermined amount above or below the opening range. When the predetermined amount (the stretch) is computed, a buy stop is placed that amount above the high of the opening range and a sell stop is placed the same amount below the low of the opening range. The first stop that is traded is the position and the other stop is used as a protective stop".

This is how Toby Crabel, more than 20 years ago, started his book "Day Trading with Short term price patterns and Opening Range Breakout", and this is the basis of several strategies and trading systems I have been testing for a couple of years and that I will try to share with you in this Blog using TradeStation.

If you are a day trader interested in these matters your comments and opinions are welcome.