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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 Avery
{quote} Hello Fagin. Thanks, not fully understand your stats but that’s ok. I do count stats on the BillyBar but in a different way. I can share my stats for every day of the 2020 if interested, i have some excel sheet for it. I found out the average first break to hit +5 is 50-70%, if the first break fails the second break is likely to hit +5 for 70-80% and if the second break failed the third opposite break is likely to hit +5 for about 95% of times. The retraces however once triggered in a trade is 13-15 Points on average, so if you do risk to...
If it was as easy as placing the trade and collect your five pips we'd all be billionaires.
As for systematic you have realised that you need an additional plan to compliment this set up. It doesn't work in insolation.
You'll probably end up going down a few rabbit holes, just don't leave too many ĢĢ to your broker along the way...

EDIT: not to mention the money management element which is crucial, there are loads of posts on it in the thread and it is a personal preference to what you do. Be warned... Get it wrong and the animal is let out of the cage..

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Quoting ia1979
Billy and others use retrace trades a lot. An example could be 8-10 pips retrace before taking a trade in the direction of the break.
Hi, yes. I tried it a few times. I find it difficult to decide either to take the retrace or not. I mean based on which criteria. Perhaps you can do this based on what you see in the moment price is doing. So experience, feeling, trained eyes, a bit luck is your friend here.
Quoting Fagin
EDIT: not to mention the money management element which is crucial, there are loads of posts on it in the thread and it is a personal preference to what you do. Be warned... Get it wrong and the animal is let out of the cage.. {image}
Oh yes... I could ask endless amount of questions regarding money/risk management but Billy and some others will get a heart attack soon if i donīt stop asking newbie questions

What i am doing so far is:

My goal is to average a 5% by the end of a month (20/22 trading days cycle).

I risk a max. of 10% of my available trading capital for 1 day on petty much every BillyBar setup (the only one i trade so far).

This normally gives me room for entering on the break 3 times with a stop loss of 20-30 Pips so i can trade it at 5 Lots.

Problems with doing the countering/locking-in i have, we all knows this by now... Maybe i will find out / get better at this at a later stage...

Now if i get the +5 with the first break i stop, shut down my trading platform and call it a day. Going to annoy my gal, do other business, what ever.

If the first break fails i already start to get the ("oh f$#k what i am doing now" kind of feeling...). So then I will be countered at the opposite end of the range (i trade no range larger than 25 Points) or stopped out for 25 Points fixed (not seeing the real difference on it yet).

I then sometimes enter on the second break immediately for +5 but not very often. Maybe i should do this every time, don't know yet.

I prefer to get back to break even first as soon as possible before thinking about new trades on that setup. Its over then for that day anyways unless i wouldn't also try the third break, which i donīt do so far.

The prestige amount of risk capital for the day i then do my "random fix trading". I do this ometimes later the same day after taking 1-2 hours break and think about it or sometimes i do nothing and try to fix it the next day by doing further trades.
+5 of the low break, thanks.
Hi folks...been very busy at work so haven't even been able to read the thread for a few days...just experimenting with a term Lem threw out a while back that I've beej wondering about from a trading perspective, especially when I could see how price for n Dax liked to overlap itself. Mean reversion. Another clue came from the Ausie thread, and so I'm just wondering will my TP be hit here . Sometimes it takes 2 or 3 weeks, but invariably they are hit.. it's just getting the entry that's the run part.

I took the most of my money out at 20 pips so just waiting to see now what happens. (There's potential for GU to do the same if it drops another 60 ish pips .. I'm short at 1.3650)

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typical friday: the trend is your friend and will never end;-)
trading is like dancing, don't think and just listen to the music!
Quoting birdland
typical friday: the trend is your friend and will never end;-)
Blame Billy where ever he is.
Quoting claudia1
{quote} Blame Billy where ever he is.
of course i will;-)
trading is like dancing, don't think and just listen to the music!
Come on Lem it's music day.

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This is amazing 1970 ...
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And then .... over to Lem
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what really helps is the 70-pips concept of you, billy, not on fridays but on the other ones. that rocks!
trading is like dancing, don't think and just listen to the music!
Quoting stu
Hi folks...been very busy at work so haven't even been able to read the thread for a few days...just experimenting with a term Lem threw out a while back that I've beej wondering about from a trading perspective, especially when I could see how price for n Dax liked to overlap itself. Mean reversion. Another clue came from the Ausie thread, and so I'm just wondering will my TP be hit here . Sometimes it takes 2 or 3 weeks, but invariably they are hit.. it's just getting the entry that's the run part. I took the most of my money out...
Good stuff. What I would suggest is to make sure you keep a completely separate chart set up open for showing only mean reversion moves, as once you start adding your Santa's Little Helpers to the chart, you will suddenly find yourself smothering all the clarity you have at the moment.

I'll get back to you with the best choice imo for tracking mean reversion.
Quoting lemercenaire
{quote} Good stuff. What I would suggest is to make sure you keep a completely separate chart set up open for showing only mean reversion moves, as once you start adding your Santa's Little Helpers to the chart, you will suddenly find yourself smothering all the clarity you have at the moment. I'll get back to you with the best choice imo for tracking mean reversion.
Cool....... just spotting some shoddy proofreading in my post!! ... blame the phone keyboard!
After The Art of Drumming tonight, there is a doc for you, Claudia...Classic Albums: Cream's Disraeli Gears on Sky Arts 22:15 - 23:15

One episode I haven't seen. Should be good.
Quoting lemercenaire
After The Art of Drumming tonight, there is a doc for you, Claudia...Classic Albums: Cream's Disraeli Gears on Sky Arts 22:15 - 23:15 One episode I haven't seen. Should be good.
T is a big Clapton fan.
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Everyone seen this work of genius? Awesome stuff!

https://www.loudersound.com/news/a-p...obal-superstar
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