SPY Opening Range Breakout, risk-sized

Opening range breakout on SPY shares (NASDAQ-EQ). The range is the high and low of the 09:30-09:44 ET one-minute bars. From 09:46 to 11:30 ET, a one-minute close above the range high buys SPY; a close below the range low sells SPY short. Stop at the opposite edge of the range, target two range-widths from entry, flat by 15:55 ET. One trade a day. Size = $200 risk per multiplier divided by the range width, capped at $25,000 notional per multiplier. Capital per multiplier: $25,000. Short selling and same-day round trips need a margin account, and US brokers require $25,000 minimum equity for pattern day trading; that also covers the $25,000 notional cap in full. Times are New York time; the backtest uses New York time in every season. Live, Tradetron's US clock is a fixed UTC-4: it matches New York from mid-March to early November and runs one hour ahead of it in winter, so in winter each time rule fires one hour earlier in the session. Educational template: not investment advice.

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