

Toby Crabel
Founder of Crabel Capital Management and author known for work on opening range breakout and short-term systematic trading; decades-long practitioner and researcher on execution, market microstructure, and technical analysis.
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Apr 15, 2026 • 1h 5min
TTU152: Where is the Open? ft. Toby Crabel
Toby Crabel, founder of Crabel Capital Management and pioneer of opening-range breakout trading, reflects on decades of market practice. He discusses how the traditional open has faded, liquidity shifting to closes, why momentum edges eroded, the growing importance of execution, and the realistic limits of AI in trading.


