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Attachments: Billytt Die happy trading e/j daily breakout
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Billytt Die happy trading e/j daily breakout

Quoting billytt
I wonder what will happen at 08-00? i am half thinking about trading the Not the Billy bar, that'll be a first lol. this 00-00 4 hour range will break and hopefully produce. i have 6 minutes to decide.
Took the low break of the BillyBar.

08:23 | Could have taken +2 so far. Doesn't look too well, should probably leave it. But will wait until the counter.
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08:38 | Up it goes :/

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08:53 | Hope in sight, currently -$250

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09:12 | I added a second buy position of same size at the high trigger in case i get countered, then trying to get +5 with this one. I also added a second sell to the low trigger but of much smaller size trying trying to make some more points with this one in case it keeps moving south then.

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09:42 | Counter is on + second buy.

09:55 | Now that the second buy is triggered seems like this bas.. is going to move south again.

10:10 | Second buy position hit +5 (+$150) Still a counter running now at -19 (-$640)

So -14 left to "fix".
Not the billy bar was a total waste of time, lol.
i managed to close it then counter. it ended up ok off the low break. i had a smaller trade size on it.
Now getting messed around with my main 08-00 break.
trade well all.
t 08-57
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting MichaelG
{quote} Hi Billy. Yeah, I'm also not concerned about the leverage so much as the reduction in margin.....now it will be down to 50% of equity. Makes it a bit harder. {image}
Isn’t the 50% margin stop out level quiet common for most brokers?
Quoting birdland
{quote} wow, even not 2:1? with currencies you need a long breath to make some performance, especially when you start with 100 or 1000 bugs.
Leverage does not dictate your risk %. You can risk 1% of your account with 1:1 or 500:1, leverage.

However if you want to make a meaningful profit trading let’s say 1 lot ($10/Point) at 1:1 you would need to have at least 100k in your account, what would you need to open even a position at $100/Point then...

With no leverage you might not face a margin call because you then cover $1 for $1 but I wouldn’t feel more secure to hold millions in one trading account at one broker just to be able to trade at that size. What is the asset protection by gov/regulators in case of a sudden insolvency, around 100k or so.
Quoting Avery
{quote} Leverage does not dictate your risk %. You can risk 1% of your account with 1:1 or 500:1, leverage. However if you want to make a meaningful profit trading let’s say 1 lot ($10/Point) at 1:1 you would need to have at least 100k in your account, what would you need to open even a position at $100/Point then... With no leverage you might not face a margin call because you then cover $1 for $1 but I wouldn’t feel more secure to hold millions in one trading account at one broker just to be able to trade at that size. What is the asset protection...
this is the problem. a friend of mine had a forexaccount in cyprus and he lost a huge amount (7 figures) overnight when there was the finacial crisis and banks went bust.

from this i learned not to have all my funds with a broker, instead securitywise i trade with a huge margin (leverage) and have the main part with my trustful bank.
trading is like dancing, don't think and just listen to the music!
Quoting birdland
{quote} this is the problem. a friend of mine had a forexaccount in cyprus and he lost a huge amount (7 figures) overnight when there was the finacial crisis and banks went bust. from this i learned not to have all my funds with a broker, instead securitywise i trade with a huge margin (leverage) and have the main part with my trustful bank.
Yes, same here. I only park as much money as necessary with a broker. Therefor having leverage is a real blessing.

See,

Trading 10 Lots GBP/USD ($100/Point) (1.000.000,00) at 1:1 (no leverage) = You need $1.362,600,00 in your account.
Trading 10 Lots GBP/USD ($100/Point) (1.000.000,00) at 1:500 = You need only $2.725,00 in your account.

With any EU/UK based broker at 1:30 for instance I would already need to have $45k sitting in my broker's account to be allowed to open a position that size. Now why should i do that if the same is possible with just not even $3k...

For sure it would be crazy to open a position that size (10 lots) with only 3k sitting in that account. This would provide no room for failure -13 Pips against you and you will receive a margin call / automated stop out at a 50% margin level.

Anyways,

I am still in a floating -14 Pips at 3 Lots counter of the BillyBar this morning. I didn´t even watch it anymore. So i hope to find a solution tomorrow otherwise i will close it again because of the negative swap increasing with each time i hold it overnight.
Quoting birdland
{quote} ... have the main part with my trustful bank.
You trust banks, Mate?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting TooSlow
{quote} You trust banks, Mate?
Give a man a gun and he can rob a bank. give a man a bank and he can rob the world
Quoting Avery
{quote} Isn’t the 50% margin stop out level quiet common for most brokers?
I don't know about other brokers, but mine is 99%.
+5 off the break of the 4-hour range.

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Quoting TooSlow
{quote} You trust banks, Mate?
no, not really;-)

its rather the combination of nation&bank who i trust a bit more than weaker combinations;-)

but in the end we are all free wilds...
trading is like dancing, don't think and just listen to the music!
Like waiting for paint to dry sometimes lol.

+4 on the 2h range after NY close.

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Quoting MichaelG
Like waiting for paint to dry sometimes lol. +4 on the 2h range after NY close. {image}
Blame me when you win and Billy when you lose ! Joking aside the AJ break looks to be working for you.
Lem - bit early for music but watch this later great guitar.
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Quoting claudia1
{quote} Blame me when you win and Billy when you lose ! Joking aside the AJ break looks to be working for you.
Yes it does, and all thanks to you M'Lady
Morning everyone

Just waiting on the Billy Bar to be triggered. Billy Bar just triggered lol. Just out of curiosity, I'm wondering if any of you change tactics with this ranging price action?

W
Quoting Wizzlebizzle
Morning everyone Just waiting on the Billy Bar to be triggered. Billy Bar just triggered lol. Just out of curiosity, I'm wondering if any of you change tactics with this ranging price action? W
i take only trades below 20 ranges AND when i see a clear trend like today i only take trades in the direction of the trend. but thats only me.
trading is like dancing, don't think and just listen to the music!
Quoting birdland
{quote} i take only trades below 20 ranges AND when i see a clear trend like today i only take trades in the direction of the trend. but thats only me.
Thanks Birdland and hi We're thinking along similar lines then (pun intended) The long is going well, locked in +5 and stil have a higher target to aim for
Quoting Wizzlebizzle
{quote} Thanks Birdland and hi We're thinking along similar lines then (pun intended) The long is going well, locked in +5 and stil have a higher target to aim for
i would like to add i have to be more selective, because i dont hedge/counter. so its a different starting point.
trading is like dancing, don't think and just listen to the music!
Quoting TooSlow
{quote} You trust banks, Mate?
Some bank accounts come complete with non digital key
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every Saint has a past. Every Sinner has a Future
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