How to use ORB Intraday Trading Bot

  • Apr-03-2019

This is a small write up on How to use our Automated ORB — Opening Range Breakout Trading system. Earlier we written an article about the ORB Trading system and the launch of the Telegram Trading bot. Click here to read about it.

With this bot, there is no manual intervention at all. Based on the builtin logic of our algorithm, it would automatically choose stocks to trade daily with both Buy & Sell triggers with default risk of 1% per tradeAll you have to do is just enter your capital and Target you want to keep for each stock. That’s it.

It would automatically generate execution button for Zerodha & Upstox clients. It generates instant orders. If you wanted to trade first 5 mins breakout, then you can enter your capital and target after 9.20, which will generate files for 5 mins ORB range breakout instantly, if you want 10 mins ORB range breakout, you can give your input after 9.25 AM, so that it calculates the 10 mins range (9.15–9.25) and sends you the link instantly.

Folks who wanted to use the 15 mins breakout strategy can give their input after 9.30 AM.

No need of manual monitoring, with a click of a button, your work gets over in seconds. You can use your existing Zerodha/Upstox accounts, no need of opening new account.

Here’s how the bot works

Open Telegram and enter the bot name @ORB_Instant_bot click on START

Once you start, enter your capital and target, in this format. 10000;3 which denotes Rs.10000 capital and 3% target per trade. It immediately sends you the link. If you want to keep the risk at 0.5%, you can type 10000;3;0.5

Input Parameters:

Capital;Target;Risk;Order Type;TSL

10000;10;1;M;1 denotes 10000 capital with 10% target, 1% risk per trade, order type is stop loss market order and 1% Trailing Stop loss.

10000;10;1;L;1 denotes 10000 capital with 10% target, 1% risk per trade, order type is stop loss LIMIT order and 1% Trailing Stop loss.

For example: Consider the a stock whose ORB range is 100 and 95. And based on your given input quantity is calculated. (refer for more info)

So here, buy price will be 100 with stop loss at 95, hence in stop loss value, the bot will enter 5, as you have given 1% as your risk per trade, when the stop loss is hit, you lose 5(stop loss)* 20(quantity) = Rs.100 which is 1% of your capital Rs.10000.

You have given target as 10%, so when Buy order at Rs.100 executed, automatically the bot will enter target value as 50, so when price moves from Rs.100 to Rs.150, you make 50(target) * 20 (quantity) = Rs.1000 which is 10% of your capital Rs.10000.

You have given TSL as 1%,

Lets say you’ve purchased a stock at 100, as per orb the stop loss as 5 i.e if the stock falls to 95 your potions will be closed, and BOT entered the TSL as 5, which is 1% of your capital.

Now lets say the stock moves from 100 to 105 since BOT put a TSL, you’re stop loss will move from 95 to 100.

Basically, if the price moves in your direction(profit), your stop loss will also move by the same number of points BOT has mentioned in the Trailing stop loss column.

Clicking on the button will show you the following prompt, just click ok to proceed.

Then you get the following window, click on button of your choice to place the trades in your Zerodha/Upstox account.

It would prompt you to enter your login credentials. Just enter your details and login.

Now all the orders are ready and you just have to click on place. Then all these orders gets placed in your Zerodha/Upstox account.

When any orders are executed, automatically Stop loss , Target and TSL will be placed as its a Bracket order. Also margin blocked will be minimal due to our position sizing rules. And make sure you manually exit all open orders before 3:20 PM to avoid penalty charges by Zerodha.

To subscribe to the bot use the following link

And please go through our Terms and Conditions before availing our services.

  • Tags | Trading,Stock Market,Stocks,Investing,Investment