Stop limit order Yup, different ways to pull the trigger. Personally I wait for a close outside the range. Sometimes it doesn't pullback on the range break ... If I can't get near the level then I just wait for another signal.
I generally use order flow, particularly cumulative delta, to decide if I'm going to bail or hold on. There are days when volume isn't that great, cumulative delta is just dragging along, and all you can get is 2-3 ticks. But most of the time, if you're not too risk adverse, you can milk it for more. The problem is that on news days, you have to get out early to be safe. Lately, it's been trading well into the direction of the break, but you never know with programs running on the news.
I think I operate in the bottom left quadrant. With EOD/10x exits, you have to deal with weeks or months of flatline equity. I dont think whichever makes the most money is always the right answer.
Also I found when researching other instruments, that it's practically impossible with the NQ and marginal at best with the ES. The volatility is a killer. Bonds are more stable, especially prior to any news event. A lot of traders must be doing it or the back testing wouldn't show such clear results. Just my assessment having done it for a while.
I watched some of his videos. He's basically trying to optimize with small stops/breakeven with scaling in. I think overall, all in and out yields better results just from my own tests.
Yes. Basically RORO stands for Right Or Right Out. Thought it would add value to be as active as he is ... He also has plenty of levels which I don't really understand. I think it's based on previous opening range. Which last 30s for him. If price reaches one level then he's looking for the next level. Well ... We all know how levels work, more or less. I am not a member of his group but listened to some of his YouTube videos. Here's a post about his management. From what I understand. 1/4 @ TP1 - Pay for your risk (1R), Move stop to break even 1/4 @ TP2 - Intermediate Target 1/4 @ TP3 - Main Target 1/4 as a runner