Billytt Die happy trading e/j daily breakout | Page 1065 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #21,281
  • Aug 17, 2017 12:54am Aug 17, 2017 12:54am
The F40 jumped short to fill the open gap and easily hit the TP.

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It has now reversed all the way back up and through and on. Major percents made whichever way you would have played it.

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  • #21,282
  • Aug 17, 2017 1:00am Aug 17, 2017 1:00am
Quoting lemercenaire
{quote} Rockin' The Witching Hour, SF. Nice. I'll let Claudia answer your question about trading around GU settlement. She'll explain it better than me, lol.
OK Lem....looking at it again, i realise that it is the BAD type trade....i am thinking of adjusting my body clock to stay up late....thanks
Onwards and upwards...
  • #21,283
  • Aug 17, 2017 1:02am Aug 17, 2017 1:02am
Quoting Violenteer
{quote} WZ Tech?
WZ Tech = Wick Zone Technique

This is an entry method where the trigger comes as price leaves the zones formed by the wicks on a candle. In this case, the move would have been short, into the body.

It should be pointed out that this is not how Billy runs his trades - but an method I brought in from another galaxy .
  • #21,284
  • Aug 17, 2017 1:03am Aug 17, 2017 1:03am
Quoting soccerfan
{quote} OK Lem....looking at it again, i realise that it is the BAD type trade....i am thinking of adjusting my body clock to stay up late....thanks
Yes, the B*A*D trade is designed around that GU ''fix'' by the banks.
  • #21,285
  • Aug 17, 2017 1:11am Aug 17, 2017 1:11am
I'm done for the day. A load of stuff to do away from the screens.

Have fun all.
  • #21,286
  • Aug 17, 2017 1:52am Aug 17, 2017 1:52am
Quoting soccerfan
{quote} Hi Claudia..i have been re reading a lot of back pages, your advice and comments are great, the post that i have quoted is confusing to me as I missed school that week can u shed some light for me please ? ..thanks..
I'll let Reuters explain why 16.00 is important.

'Execution of foreign exchange transactions at a fixed market benchmark rate is common amongst institutional investors. Appeal lies in the fact that, particularly when tracking benchmark indices in other asset classes, currency conversion can be performed by the same underlying FX rates as employed by their target index. Furthermore, aggregation of fixing trades by market makers prior to execution increases liquidity, which, in theory, enables clients to trade large FX amounts at a trusted rate. Fixing trades therefore enable clients to trade without having to worry about best execution, such that they do not have to minimise the risk of moving the price when transacting in the market. Moreover, as a market fix is uniform across providers, it is also intended to build trust in client/provider relationships, as a clearly defined and measurable service arises.

The currently most important benchmark rate is the World Market Reuters 4pm London fix (WM/R 4pm fix), which accounts for approximately 1-2% of the total $2 trillion daily volume in the FX spot market.

The WM/R 4pm fixing rate is determined using the methodology described in Section 2. It is based on the last trade prices as well as the last best bid and offer quotes at the end of each one second interval between 15:59:30 to 16:00:30 GMT. Therefore, to achieve the WM/R 4pm fix rate, service providers execute their fixing orders within this 60 second interval.'
  • #21,287
  • Aug 17, 2017 3:40am Aug 17, 2017 3:40am
Morning all, what is left of it....
Cable broke low for +5 which I hit...
E/U and E/J both broke Low for good %% which I did not trade.
A/U broke High for %% then dropped down to break Low, this too was good, I did not trade it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #21,288
  • Aug 17, 2017 3:41am Aug 17, 2017 3:41am
Quoting claudia1
{quote} I'll let Reuters explain why 16.00 is important. 'Execution of foreign exchange transactions at a fixed market benchmark rate is common amongst institutional investors. Appeal lies in the fact that, particularly when tracking benchmark indices in other asset classes, currency conversion can be performed by the same underlying FX rates as employed by their target index. Furthermore, aggregation of fixing trades by market makers prior to execution increases liquidity, which, in theory, enables clients to trade large FX amounts at a trusted...
SIMPLES, lol. they do do it though.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #21,289
  • Aug 17, 2017 4:58am Aug 17, 2017 4:58am
Quoting billytt
{quote} SIMPLES, lol. they do do it though.
This is a very very good article.

http://www.investopedia.com/articles...-be-rigged.asp
  • #21,290
  • Aug 17, 2017 5:37am Aug 17, 2017 5:37am
Quoting claudia1
{quote} This is a very very good article. http://www.investopedia.com/articles...-be-rigged.asp
It certainly is, i read something very similar in a different article relating to scams between traders.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #21,291
  • Aug 17, 2017 5:43am Aug 17, 2017 5:43am
Quoting billytt
{quote} It certainly is, i read something very similar in a different article relating to scams between traders.
This is better. Anyway soccerfan question answered. If you can't beat them .....

https://en.wikipedia.org/wiki/Forex_scandal
  • #21,292
  • Edited 10:09am Aug 17, 2017 9:50am | Edited 10:09am
EA up 400 + for the day. Makes up for yesterday's mess lol. Only demo but fun.
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  • #21,293
  • Aug 17, 2017 2:20pm Aug 17, 2017 2:20pm
Hi all.

Absolutely cream-crackered, so won't be rambling on at any length tonight. Early stuff's been posted and can be read above somewhere.

First up, the B*A*D Trade wouldn't have even triggered (short) until three hours after the set-up. It may have made the +5 by a hair's breadth - maybe not. In the last couple of hours, it has eventually continued on and would have rewarded those who stuck it out. If the trade had been run WZ-style, you would have been over-and-done much quicker, with a touch of and a drop out of the upper zone.

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  • #21,294
  • Edited Aug 18, 2017 3:40am Aug 17, 2017 2:23pm | Edited Aug 18, 2017 3:40am
Quoting claudia1
{quote} This is a very very good article. http://www.investopedia.com/articles...-be-rigged.asp
Thanks vvv much, Claudia, I may stay up late to get some of this action....daffodils to say thank you
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Onwards and upwards...
  • #21,295
  • Aug 17, 2017 2:29pm Aug 17, 2017 2:29pm
As for The Dead Zone - and with the caveat of that wonderful thing hindsight, it looks like the options would have been EJ - long, GN - long, UC - long into short and UNok - short.

Strong contenders would likely have been GOLD - perfect surf conditions, as was GJ. Then add GU - long and CJ - short.

Of the inter-galactic travellers, the best would have been the Dollar Index, where you would have been looking for a late short entry.

Anyway, before I fall asleep at the wheel, here's how the charts looked on the day...

EURJPY
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USDCAD
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AUDUSD
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USDNOK
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GBPNZD
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  • #21,296
  • Aug 17, 2017 2:32pm Aug 17, 2017 2:32pm
GBPUSD
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CADJPY
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NZDUSD
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NZDJPY
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XAUUSD
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  • #21,297
  • Aug 17, 2017 2:34pm Aug 17, 2017 2:34pm
USDJPY
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GBPJPY
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GER30
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OILUSD
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US500
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  • #21,298
  • Aug 17, 2017 2:36pm Aug 17, 2017 2:36pm
That Dollar Index chart to top it off...

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  • #21,299
  • Aug 17, 2017 2:39pm Aug 17, 2017 2:39pm
That's me for the night. Apologies to those friends out there who are waiting on replies via pm queries. I've been snowed under - but no excuses, my bad. I'm going to be making an effort to get through them all over the next few days.

See everyone again, tomorrow.
  • #21,300
  • Aug 17, 2017 11:54pm Aug 17, 2017 11:54pm
Seems Pepperstone wants me to migrate to Pepperstone UK under FCA regulation..

what is the actual leverage under FCA?

thanks!
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