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I have one in excellent condition, for which I have no need. Available for
the original price of $95 plus shipping.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: "Marver, Joel" <Joel.Marver@xxxxxxx>
Sent: Monday, May 12, 2003 8:21 AM
Subject: [RT] Toby Crabel ORB
> With the price of Toby Crabel's book being out of range and unavailable at
> any price, I dug through all TASC articles he wrote and did some
> experimenting this weekend. Remember the book and articles were written
> back in 1988 and following years. The opening range breakout starts with
> using the "stretch", a ten day average of some opening period such as 5 or
> ten minutes, and further refined to use inside bars and narrow range days
to
> select days that preceeded trend days. I believe the concept needs some
> readjustment with the advent of computerization and electronic trading,
> globex, and speed of markets. After concluding that the original ORB
> "Stretch" value needed some updating, the next thing was to figure out how
> to view that early day action. At the same time Toby was writing his
book,
> Steidlmayer was introducing his market profile ideas. Of course Gann's
idea
> of midpoints or 50% retraces and eighths had been around. So without
going
> into more details, here are some shots of this morning's snp on 1 tick
bars
> using 30 minute mp and the poor man's profile of midpoint and 1/3, 2/3
> divisions of the current day's high and low. Over the years, I have come
to
> respect the realtime midpoint of today's high minus low divided by 2, the
> red line on the chart. Without further statiscal proof, my intuitive feel
> is that the ORB using ten day Stretch average is better replaced with
> something like a market profile using tick bars. Using a combination of
> midpoint, point of control and value area levels might be good starting
> points.
>
> enjoy,
> bobr
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