Billytt Die happy trading e/j daily breakout

B*A*D managed +4-and-a-bit-just-about so far...



It tried...just not very convincingly. Just about hanging on by its fingernails at the moment.

M1 and M5 close-up views show what's going on...

M5


M1

Hey Lem,
I'll be starting again next week. It's not that I'm not ready psychologically. Just busy with other stuff this week.

Got there eventually...



It's now dropped again, so as I said earlier, not entirely convincing.

What is this...''other stuff'' you doth speak of? There be no other stuff than the majik-for-exx.

It'll be good to have you back.

FF down for maintenance there but seems ok now, so before it decides to go offline again, here's the DZ charts across the pairs for the day...

EURJPY


USDCAD


AUDUSD


USDNOK


GBPNZD

AUDNZD


GBPUSD


CADJPY


NZDUSD


NZDJPY

XAUUSD


USDJPY


GBPJPY


GER30


OILUSD

All done - see you all tomorrow.

G'Day all.

Almost had a ''Cat-astrophe'' this morning , as one of my furry gangsters decided that the exact moment I was hitting the go-faster button was the perfect opportunity to jump onto my lap and throw a head-butt in my direction, lol.

I completely missed the entry and ended up down, as the DAX did what the DAX does and bounced. I was prepared to counter and trade my way out of it but as it turned out, I got away with it as it all twisted back in the original direction and I got my +5.

DAX 06:00 - 08:00 +5%


I actually got slightly less than the whole bag, as I was conscious that this was the second move but happy enough to get it. As it turns out that was probably a good call, as price has once again turned back on itself. A bit of an indecisive morning for The Monster today so far.

Over at the F40 - and not traded by me - the deed was done in quick-time, with a heavy break South. However, it gapped like a mad thing, so would have caused all sorts of hassle if I had been in on it.

F40 07:00

AU hangin' about doing a whole lot of nothing much.

GU has run a fake-out long and it too is now faffing around.

Neither traded by me.

However, major red on the horizon for GBP at noon uk-time and more due over in the USD camp in the afternoon. If Cable still hasn't broken by then, it's almost certain to as that hits. You'd have to figure in the no-doubt wider spreads though.

There is a possibility that it could come into play over in The Dead Zone, likely as a reaction to whatever happened earlier, so may be worth keeping a closer eye on DZ-Cable than perhaps I usually do.

Made up its mind...

Well, the Pound is taking a pounding...Boom! Boom! , so that throws a wild-card into the game as far as giving us options on The DZ today. We can add GN and GU to the mix straight away for WZ action back inside the candle, assuming it hasn't all happened before our trigger kicks in.

On top of that, we also have multiple possibilities going against the JPY, on CJ, NJ, UJ and GJ (all long). Throw in my original choice of EJ and we're spoiled there.

Outside of all of those, I'd be looking at AU, which is stuck in a channel, ripe for surfing.

Oh and did I mention the DAX-Monster? No? Well...

Here's what I am looking at:

This should be fun, lol...Back later.

good afternoon all, i have been away from my house..
The bad trade i had on Cable is now fixed. and that is about it lol....

LOL Just a busy school week. I'm still a grad student. I'll be back very soon!

Hey guys Ive been doing stats collecting too and I found somthing worth taking a note.

1.Spread
In some cases of AUD/USD stats that I gathered, breakout pips is less than 0, like -0.8, -1.2, -2.4..
Then I open the chart and realized that's because of the spread, different price between ASK and BID price.

I assume:
When trading a buy trigger, we use the ASK price, when ASK price > buy trigger price, we buy. ( is that right? )
When trading a sell trigger, we use the BID price, when BID price < sell trigger price, we sell. ( is that right? )

Buy Situation:
Our buy order will be filled at current ASK price, and its Profit/Loss pips is calculated by current BID price, therefore the spread.
From the AU stats I gathered, in some cases ASK price is breaching the buy trigger but BID price is at 2- 4 pips below the buy trigger (big spread means lack of liquiity). So if we get in we would be in immediate 2-4 pips loss. And in Christmas Holiday spread could be huge so better stay away from it. This also applies to sell situation.

I suppose we need to limit the max spread when trade the trigger ?

2. Sudden price change
Buy Situation:
Buy trigger Price: 0.9885
Last tick ASK price: 0.98847 ( 0.3 pip below the buy trigger )
Next tick ASK price: 0.98858( 0.8 pip above the trigger )

That sudden price pump makes price breaching buy trigger, but should we buy immediately?
I'm not sure.. If you buy you need 5.8 pips to get +5, 10.8 pips to get +10. That would be different stats. This also applies to sell situation.

Hi CJ.

The short answer is that I wouldn't be trading anything that had a 2 - 4 pips spread (the indices I trade have their own set of rules, so I wouldn't include them in that statement). The max I would be looking at would be 1 pip and I'm often operating at less than 1.

There is one exception to this and that is GN, however the much larger moves this makes makes up for the larger spread.