Billytt Die happy trading e/j daily breakout | Page 961 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #19,201
  • Jun 22, 2017 5:04am Jun 22, 2017 5:04am
Dont forget Brexit talks are running, this could be a flash point
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,202
  • Jun 22, 2017 5:08am Jun 22, 2017 5:08am
Quoting bojack34
{quote} Looking at AU, you can see just how powerful the Daily Pivot is........Look at how BIG that Green Candle is that lead up to the Daily Pivot line........the DP stopped it like a Brick Wall......no problem at all.
quite often the dp will be hit, quite often it will keep going hopefully like Claudias wine bar method.

edit, we dont do averages but the daily pivot is an exception. First time i looked at it for ages lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,203
  • Jun 22, 2017 5:10am Jun 22, 2017 5:10am
Quoting billytt
{quote} quite often the dp will be hit, quite often it will keep going hopefully like Claudias wine bar method. edit, we dont do averages but the daily pivot is an exception. First time i looked at it for ages lol
are you saying that on "average" price hits the DP it CONTINUES on? .....rather than touching the DP and reversing
  • #19,204
  • Jun 22, 2017 5:13am Jun 22, 2017 5:13am
Quoting bojack34
{quote} are you saying that the "average" time that price hits the DP it CONTINUES on? .....rather than touching the DP and reversing
no, if it is reached then a good bar is formed after the dp it is very useful. If you try and trade any other way i think you will fail.
Claudia's wine bar method has nailed it though

edit as with resistance/support levels these cannot be truly traded as they are inconsistent.
We have retrace traders and break out traders , who is right?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,205
  • Jun 22, 2017 5:15am Jun 22, 2017 5:15am
Quoting billytt
{quote} no, if it is reached then a good bar is formed after the dp it is very useful. If you try and trade any other way i think you will fail. Claudia's wine bar method has nailed it though
So you wait for a Bar to CLOSE over the DP line first.....then trade it? If the bar doesn't CLOSE over the DP line, then leave it alone ???
  • #19,206
  • Jun 22, 2017 5:16am Jun 22, 2017 5:16am
Quoting billytt
for the adventurous short it now at 7558 with a 5 stop, it might just drop lol.
t11-16 now 7553 yaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,207
  • Jun 22, 2017 5:18am Jun 22, 2017 5:18am
Quoting bojack34
{quote} So you wait for a Bar to CLOSE over the DP line first.....then trade it? If the bar doesn't CLOSE over the DP line, then leave it alone ???
yes, use 1 hour bar if using wine bar method (i think)
stick to one method though, but this could be a decent trigger
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,208
  • Jun 22, 2017 5:20am Jun 22, 2017 5:20am
Quoting billytt
{quote} yes, use 1 hour bar if using wine bar method (i think) stick to one method though, but this could be a decent trigger
Thanks Bill, since I am new to trading overall I am still trying to learn how price reacts to the DP and the SR. I have read a strategy on Cross Over and Close Over....its a line strategey i'm sure some on here have heard of. Either way....more notes for the notebook!!
  • #19,209
  • Jun 22, 2017 5:36am Jun 22, 2017 5:36am
Quoting billytt
{quote} t11-16 now 7553 yaaaaaay
7550
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,210
  • Jun 22, 2017 5:39am Jun 22, 2017 5:39am
my Lady tried to explain to me the meaning of median and mode last night, yeah right!
still scratching my head
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,211
  • Jun 22, 2017 5:44am Jun 22, 2017 5:44am
Quoting billytt
{quote} 7550

7546 lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,212
  • Jun 22, 2017 5:50am Jun 22, 2017 5:50am
Just my 2 cents worth .... with a SMALL bank I think counter trades are just betting against oneself,, much better left to players with much experience and larger bank rolls ,,, just IMO
  • #19,213
  • Jun 22, 2017 5:51am Jun 22, 2017 5:51am
Quoting billytt
{quote} 7546 lol
now looking back it looks like that 7558 area has been a nice level of resistance since 14-30 yesterday........price just continues to bounce from that area.........same with the 7546 area....been using that area as support.....maybe if price breaks thru that support area and also breaks Yesterday's Low.....it might go for Daily Range Low....about another 17 pips from YL until it reaches another Quarter Line which would also be roughly my 20 day ADR.
  • #19,214
  • Jun 22, 2017 5:59am Jun 22, 2017 5:59am
Quoting bojack34
{quote} now looking back it looks like that 7558 area has been a nice level of resistance since 14-30 yesterday........price just continues to bounce from that area.........same with the 7546 area....been using that area as support.....maybe if price breaks thru that support area and also breaks Yesterday's Low.....it might go for Daily Range Low....about another 17 pips from YL until it reaches another Quarter Line which would also be roughly my 20 day ADR.
you are thinking too much Bo, trade lines. a lot of the dicks selling trade strategies show charts like that, THIS IS WHAT HAPPENED (past)
look back over charts at resistance/support levels, see how many times they break through and retrace.
If you are in a trade already they can be used a point of closing a trade
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,215
  • Jun 22, 2017 6:02am Jun 22, 2017 6:02am
Quoting billytt
{quote} you are thinking too much Bo, trade lines. a lot of the dicks selling trade strategies show charts like that, THIS IS WHAT HAPPENED (past) look back over charts at resistance/support levels, see how many times they break through and retrace. If you are in a trade already they can be used a point of closing a trade
I was thinking along the lines of how to trade the retraces back and forth like you do.......but i get the point....stick to the triggers/lines!!
  • #19,216
  • Jun 22, 2017 6:02am Jun 22, 2017 6:02am
Quoting starpro
Just my 2 cents worth .... with a SMALL bank I think counter trades are just betting against oneself,, much better left to players with much experience and larger bank rolls ,,, just IMO
wise words, but if you have a small bank roll you trade small and slowly grow account.
i am not disagreeing with you as you make sense but i dislike giving any money back to brokers.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,217
  • Jun 22, 2017 6:02am Jun 22, 2017 6:02am
FB finally stopped playing with itself and put PH out of his misery.
  • #19,218
  • Jun 22, 2017 6:02am Jun 22, 2017 6:02am
Quoting bojack34
{quote} I was thinking along the lines of how to trade the retraces back and forth like you do.......but i get the point....stick to the triggers/lines!!
i trade retraces off the 04-00 high/low (not always)

edit, not always as in , i dont always trade retrace
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,219
  • Jun 22, 2017 6:04am Jun 22, 2017 6:04am
Quoting billytt
{quote} 7546 lol
7537 yaaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,220
  • Jun 22, 2017 6:04am Jun 22, 2017 6:04am
Quoting billytt
{quote} wise words, but if you have a small bank roll you trade small and slowly grow account. i am not disagreeing with you as you make sense but i dislike giving any money back to brokers.
I know MM is all up to the individual but with me being new i still am unsure about some MM things.......so If I start with a account balance of.....let's say 2k...and i want to trade with counters...........should I be trying to get .5% to 1% per 5 pips....or maybe even 1% to 2% per 5 pips? or is this still too big?
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