Billytt Die happy trading e/j daily breakout
Hello and welcome.
Page 1 amended 16th May 2018....
Thread originally started for E/J Daily Breakout
BUT WE HAVE PROGRESSED INTO OTHER METHODS BUT THEY ALL WORK..
1... E/J DAILY BREAKOUT...
2... A/U 04-00 4 HOUR BAR BREAKOUT...
3... CABLE 08-00 15 MINUTE BAR BREAKOUT...
4... Mr-T's UC method is The Dead Zone.
5... WICK ZONE
6... CLAUDIA'S WINE BAR
7... DEAD ZONE
ALL UK TIME....
Rules 2, No swearing, racism don't ask for trade explorer and first person to mention DB will be stoned unless it adds to expanding our imagination regarding trading.
BOLLINGER BANDS ARE DEFINITELY a NO NO.
edit.. March 2018 I can be contacted re:- selling my method for £30k but i am happy to let you make donation to charity.
What you have to realise is that this thread, having been banished to the Commercial Content section of the FF Universe, is not a single ''method'' thread at all any more.
Over time, it has morphed, as it has attracted a motley crew of reprobates and brigands who like to sail under Cap'n Bill's black flag, into a kind of journal of ideas and concepts, free from the usual FF thread BS, where we can hang out and chew the fat.
Most, though not all, methods used here share a lot of the same DNA and have grown organically from the original concept over time.
Like has attracted like, with other like-minded souls finding their way here, more often than not, through word-of-mouth or introduction from one of the shipmates already here and Billy is gracious enough to give us a home.
As such, the method that Mr-T is using there is my Dead Zone (though I say ''my'' method only in the sense that I introduced it here via my friend TooSlow's suggestion and built it up over time using what we call ''Alien Technology'').
All of my methods used here are actually all using the base technique known as Wick-Zone. This is the main way in which my trade management differs from Billy's.
What this boils down to is that price wants to leave the Wick Zones of a candle and I take advantage of this to give me an edge along with Supply+Demand, pivots and other herbs and spices.
So, back to the specifics of The Dead Zone and what this takes advantage of is the ''dead air'' in the hour before the US Open. I take the High, Low, Open and Close of that H1 candle and extend the levels out into the day. I then trade the movement of price as it crosses over those levels.
As examples from the UC set-up today, we would have had:
1: The move back into the body of the candle. This is my own personal trade preference.Attached Image (click to enlarge)
2: The break outside of the range.Attached Image (click to enlarge)
3: If price dropped all the way out, we can trade back into the body again from below. Again, out of the WZ.Attached Image (click to enlarge)
There is also a fourth addition, that of a break out of the range low, however in this particular case, you would not have price get there without first having triggered the move back into the body.
The other line on the block, is the range mid-line. This is not so important any more but can be used as an add-in point for an open trade, or even as a late entry, as price tends to pivot around this line before continuing on.
Mr-T doesn't use this indicator, however the method is this one.
Hope that helped in some way.
I have been asked a few times lately - and in the past - if it would be possible to put together a kid of round-up post on the specifics of The Dead Zone, so this I guess was as good an opportunity to do so as any other.
1st chart e/j daily. 1= todays candle Tuesday.....2 = Monday candle.. high was 13360 and low was 13246.
You will see I have 2 moving average indies on, a 10 and 20. These mean nothing to me but they can be used as a tool for stats.
edit,, also have a rsi (relative strength indicator) on chart, this doesn't mean anything but can be used for stats.
So now we wait, or set alarm
Hey Billy good to see you up and about
[quote=Aussie Phil;8041250]Hey Billy good to see you up and about[/quote
Hi bud glad to hear off you, hope everything is ok with you...
no trading going on so I can speak lol, I am fine but that is lying, I have a few problems from my past but I am sure things will go ok. If I suddenly disappear you'll lknow they found me .
anyway trading,,, I don't use moving averages but what do you think about the e/j bouncing north off the 10 ma, that is a question to anyone. I am not bothered lol
AND I wasn't a deserter.
on a serious note how to you gauge momentum before you enter a trade?
edit,,, as I am only after a few pips I have a good chance of getting them, look at all the past daily candles with the little wicks.i can post a chart but I am off to bed very soon
catch you later Phil, one is away. I have alarm set on e/j and i'll be up for Frankie open,
Hi Billy, glad you are sticking around.don't know if you have answered this already but do you try and catch a live trade or set and forget?
So there you are😉
Looked at today for example, e/j daily low was broken and then it almost immediately retraced THAT WAS A LOSS. But because I was trading live I made it good, it is hard work to trade like this actually frightening.
This could not of been a better intro, Monday low was broken and then it retraced, This trade was a loss. It doesn't work all of the time..
Claudia could of traded it no problem and so could i.
Forget I said it might bounce off the 10 ma even though it did, I watch price action lines
edit, should it break yesterday high of 13360 I am looking for 5 pips but I will have other trades running to get 10 and 15 , the 15 will be left to run. IF it breaks the next normal stop will be around 13400 so that should give you some pips, but for me 5 easy ones are better
e/j daily high has been broken, I took my famous 5 then 10 and got the 15 but I am letting this trade run what ever hgappens i'll keep a few pips. Normally I only take 5 unless the pair moves quick. lets see if it reaches next level, but then again who cares lol.
edit, hopefully if you are into that sort iof thing, next level should be 20 ma or 13500
© Forex Factory