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Billytt Die happy trading e/j daily breakout

Quoting Fagin
{quote} It was a nice bounce! Still in and trailing and ready for tea time. Have a good evening.
thank you, i am going to have a quick walk along sea, then sausage sandwich (Butty) and a couple of beers.
Collate my stats sleep then trade again tomorrow, yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting billytt
{quote} Question, are yo saying price will bounce back up off the 50, OR break through it? i agree with you entirely , who actually knows. that 50 is a good point to aim for. Every 50 every 00 will be broken and will also retrace. edit, but if it does bounce back up, we are then going long and repeating.
what i posted , happened lol.
i know range is approx 80 now, but when it was 70, we had down ,up,down and price will go somewhere , so i capitalised.
i say 70 , but if we are hanging around 40/50 its better odds to move.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting billytt
{quote} what i posted , happened lol. i know range is approx 80 now, but when it was 70, we had down ,up,down and price will go somewhere , so i capitalised. i say 70 , but if we are hanging around 40/50 its better odds to move.
I had a stop and reverse trading into the 00 and 50 for GU but I'm not systematic and got bored trading it. Gutted I didn't keep my stats. I remember I added 90 and 00 into it and then it got too complicated for me...

Gammon, chips and egg is calling....
Quoting Fagin
{quote} I had a stop and reverse trading into the 00 and 50 for GU but I'm not systematic and got bored trading it. Gutted I didn't keep my stats. I remember I added 90 and 00 into it and then it got too complicated for me... Gammon, chips and egg is calling....
OMG gammon,egg, chips that is food of the gods, i love that but haven't had it for ages.
Oh no, i am craving already...speaking trading, i do trade very mechanically i think i may of been doing algorithms before they were invented, lol
righto, walkies for half an hour .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting billytt
sometimes we do have a trigger and price retraces , it happens quite often. Make the method your own, i will counter and counter because it works and i am happy with it.
Its not what i tried to say, but thanks. Yes have to make it my own anyways because the „method“ is actually leaving out too much important info’s. Just having the entry trigger and trading it from line to line will get me nowhere.

Do you always wait with your counter until price really hits the opposite end of the range?

I think I would get a flotter having it retracing 15-20 Points against me trading let’s say $100/Point.

But as you seem to never have to book in such losses it might work out in the end, as you said you need a very high strike rate + a almost guaranteed plan b how to fix it if things go wrong.
Hi all. Seems everyone has been busy and productive.

Myself? Well, had to head out - the usual reason - and ended up taking the whole sodding day to get sorted.

Just back in and as I opened up to see all the lovely green I had missed, I managed to pick up a simple retrace move on GU. 19:15 uk time or thereabouts.

Gets something out of the day at least.

GU 15-min +3.5 +4.6 [+8.1]

Attached Image (click to enlarge)
Click to Enlarge Name: GU15min-asasnappickupjustforthehellofit13thJan2021+3.5+4.6.png Size: 22 KB

That's a 20 ema, by the way. Notice how it forms a Killing-Zone with the actual Z-Line from the left.
A thought for Claudia - and anyone else interested. Just mulling, as ultimately, we trade the line, etc - but think we might be looking at a drop to a zone around 1.3599 to 1.3580, with a minor bump at 1.3638 to 1.3627 (where we roughly are at the moment) forming a ceiling?

That would bring so many opportunities.

As with all things...we shall see.
Still doing my research about hedging vs taking the loss and move on.

I found these users posts arguing against. I think both have good points. What do you think?

User „CateFul“
https://www.forexfactory.com/thread/...65#post2106065

User „Tdion“
https://www.forexfactory.com/thread/...65#post2106065

Is there actually another person here than Billy himself trading the BillyBar without countering, without then trading 1 or even more further triggers gaining additional points than +5 to maybe more like having a chance then to consistently come out net positive by the end of a month?

So it looks like to me the only real advantage of countering the failed trade is if you have a super good understanding and perfect timing for undoing the hedge so that you can close the positive side of it and then letting the other one turn back in your favor.
time now 06-47, chart copied a couple of minutes ago.
cable 2 hour chart.
Attached Image
T = 00-00 4 hour area trigger.
H =70 range high.
L = 70 range low. these 2 lines will be adjusted as price moves.

1-2-3-4 lines. These are are set at 15 point intervals. (This is an example) you place them how you want. This is for compounding if you want.

Only try to copy these at your own risk.
t 06-50

edit at 07-05. e/u is the same as cable right now. no high /low break.
a/u high has broken and now retraced back into body of 00-00 range. . maybe later i post chart, but just look .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting Avery
Still doing my research about hedging vs taking the loss and move on. I found these users posts arguing against. I think both have good points. What do you think? User „CateFul“ https://www.forexfactory.com/thread/...65#post2106065 User „Tdion“ https://www.forexfactory.com/thread/...65#post2106065 Is there actually another person here than Billy himself trading the BillyBar without countering, without then trading 1 or even more further triggers gaining additional points than +5 to maybe more like having a chance...
RIGHT, LAST TIME I POST THIS.
yesterday cable . i think Fagin spoke about the 50 line, price got to it and then retraced back up. which it does sometimes.(i said that).
so now we have countering .
i traded it down, then up ,then down at £10 point. ended up with £140 and i was finished around 15-30 if i remember.
that excludes my 5% (actually it ended more ) at £140 per pip.
i know it works, othger people know it works.
As i said, this is the last time i post, saying it works.
Study the fekkin charts, back test trades, MARKET MAKER MOVES MARKET, WE FOLLOW THEM.
LINE,TRIGGER, TRADE.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting Avery
Still doing my research about hedging vs taking the loss and move on. I found these users posts arguing against. I think both have good points. What do you think? User „CateFul“ https://www.forexfactory.com/thread/...65#post2106065 User „Tdion“ https://www.forexfactory.com/thread/...65#post2106065 Is there actually another person here than Billy himself trading the BillyBar without countering, without then trading 1 or even more further triggers gaining additional points than +5 to maybe more like having a chance...

They seem like good points on the face of it, but they are not too difficult to refute. Not sure about the hedgefund/investment bank bit, know nothing about them.

I had my healthy(?) dose of skepticism when I read about countering and trading lines. I struggled to figure it out for a while and realised there were two options: either everyone here on this thread is cray cray and they have been talking absolute bs for nearly 5 years on a daily basis, or there is truth to what most/all are saying on here.

I chose to believe the last and it is bearing fruit. No I don't counter myself (yet), but I have my own reasons not too. Not because I don't think it is useful or it doesn't work fyi.

Look for ways how it can't be done and you will find reasons it can't be done. Look for reasons it can be done and you will find why it can be done.

Also just made +2 of the 07:00 15m bar (had a ridiculous slippage/spread/whatever of nearly 4 pips) on cable, might hop in again if it comes back down again.
Hi Avery

I'll pitch in as it seems you have had fair warning so far.

If you are new to trading then fair enough, if you've been at it awhile then you will become a Forex Factory troll, I'm hoping you are the former.

So that being said from reading your posts you are naïve to seek out opinions on trading, countering and everything else.

Countering:

I "learned" to counter out of desperation on several occasions when I was an undisciplined idiot. It was figure out a way to get out of the s&*T or I was toast, I risked my neck and would trade non stop for hours and hours. I hated myself and the position I got myself in BUT I learned from it.
I don't particularly enjoy it and it isn't part of my strategy like it is Billy's. I'll use it when I think I can and sparingly.

Countering comes AFTER you are consistent which took me 5 years pretty much full time.

Lem posted the best way to learn this craft is open a demo and practice. Open a buy and sell 10 pips apart with a 1% position each and trade your way back into a nett profitable position. If you can do this 10 times over a period of days you will learn more than anything you read or ask about.

Trading:

Find your own strategy, make it your own and change with it over time. By this I mean you will be ready to trade different styles when you are ready. Just because you read something doesn't mean it will fit your personality. I swing trade higher timeframes on a different account and maybe make 8% a year. I can't make a living from it off the account but I do get paid by others who have more spondoolies than me for doing it.
If you want modest returns then scalping 1 trade a day isn't going to cut it unless you have the discipline of a Shaolin monk. I guarantee you'll over trade and give it back.

I'm here to learn to scalp for my own account and know when I am ready to trade certain styles that suit me and make it my own.

Find your own strategy first with a +51% win rate and a +1.1 return and trade it for a year making tweaks as you go. (Claudia has given you some excellent pointers on this by the way and not staying up late isn't an excuse).

Finally if you are trading real cash like you are; you are an idiot or an idiot with too much money which is worse. I mean this on the best terms.
Good grief, Charlie Brown...you guys have the patience of a saint.

Ignore, ignore, ignore...
Quoting lemercenaire
Good grief, Charlie Brown...you guys have the patience of a saint. Ignore, ignore, ignore...
saint Billy, saint Fagin and saint Wizzlebizzie are her to help .
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting lemercenaire
A thought for Claudia - and anyone else interested. Just mulling, as ultimately, we trade the line, etc - but think we might be looking at a drop to a zone around 1.3599 to 1.3580, with a minor bump at 1.3638 to 1.3627 (where we roughly are at the moment) forming a ceiling? That would bring so many opportunities. As with all things...we shall see.
Take him to the stake!!!!

I'm interested to see if it goes on down to 1.3556 ish by the end of week or early next week.
Quoting billytt
{quote} RIGHT, LAST TIME I POST THIS. yesterday cable . i think Fagin spoke about the 50 line, price got to it and then retraced back up. which it does sometimes.(i said that). so now we have countering . i traded it down, then up ,then down at £10 point. ended up with £140 and i was finished around 15-30 if i remember. that excludes my 5% (actually it ended more ) at £140 per pip. i know it works, othger people know it works. As i said, this is the last time i post, saying it works. Study the fekkin charts, back test trades, MARKET MAKER MOVES...

Attached Image
Quoting lemercenaire
A thought for Claudia - and anyone else interested. Just mulling, as ultimately, we trade the line, etc - but think we might be looking at a drop to a zone around 1.3599 to 1.3580, with a minor bump at 1.3638 to 1.3627 (where we roughly are at the moment) forming a ceiling? That would bring so many opportunities. As with all things...we shall see.
Morning got heavy snow down here. The 50 area/pivot is proving hard to break. Waiting to see what NY does.
i posted this earlier
Attached Image
then we had movement up, see below
Attached Image (click to enlarge)
Click to Enlarge Name: gu 14 01 21 B.png Size: 25 KB
first of all 08-00 break broke high for +5%.
soooo 00-00 high broke and it then reached 1. we could then of added another long (if we wanted).
look what happened, it made a few points then dropped. we could of closed the second trade with a point or 2.
then it kept dropping, we could of closed the first trade of break for a point or 2.

then it went back up lol, look at what we could of done, or not done.
Today so far is a rough day if we are looking to compound, but we still have a handful of points off cable/.
This excludes the 08-00 gain.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting stu
{quote} {image}
i kid yea not. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting billytt
just a brief mention, Re :- compounding. Cable would of been a good example so far today. e/u would be holding a small profit due to it moving up and down., but still plenty left. a/u is not consistent enough for compounding due to daily range not being consistent, t 07-47
Hi Billy

For days like this (Jan 12th, GU, 00-00 bar) where high low is triggered 6 times leading to 5 counters of -26 pips x 5 =-130, would you have stopped after 3 counters?

I remember reading somewhere your limit is 3 counters. If so, are the below steps correct?

Trade 1 = Long
Trade 2 = Short, Short
Trade 3 = Long, Long
Trade 4 = Short

This would result in 3 counters locked at limbo -78 pips.

Pardon me if I got it wrong.
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binnie