Billytt Die happy trading e/j daily breakout | Page 1184 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #23,661
  • Dec 15, 2017 7:48am Dec 15, 2017 7:48am
[quote=bojack34;10594932]{quote} im a little confused here maybe you can clear things up for me since you are the counter "master"...lol..........lets take this trade you speak of as our example. Low trigger broke and

Right,,, and Hi hope all is ok.
Today is slightly different.. Low broke failed, High broke failed.
I (should) of had 1 short and 1 Long counter AND a LONG trade (3 trades) but i didnt..
Reason being i started hitting the inside bars on the 4 hour chart. I did speak of them.
i was also looking at daily range.
My bias was short going off the 00-00 4 hour bar, i did say i think... But i have in the past
In reality i should of had 2 shorts,1 long and 2 counters lol.
i shorted and also traded the inside bar and a retrace, all legit triggers.
i also spoke of a free trade with a view of Cable dropping to 13350, which it did and kept going.

You dont have to counter, i do . My friend who has a tipping and trader for people can say he has a very low loss rate solely because he counters.
You only lose when you close???
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,662
  • Dec 15, 2017 7:59am Dec 15, 2017 7:59am
Quoting billytt
Quoting bojack34
{quote} im a little confused here maybe you can clear things up for me since you are the counter "master"...lol..........lets take this trade you speak of as our example. Low trigger broke and Right,,, and Hi hope all is ok. Today is slightly different.. Low broke failed, High broke failed. I (should) of had 1 short and 1 Long counter AND a LONG trade (3 trades) but i didnt.. Reason being i started hitting the inside bars on the 4 hour chart. I did speak of them. i was also looking at daily range. My bias was short going
...
ok im more confused now....lol
  • #23,663
  • Dec 15, 2017 8:00am Dec 15, 2017 8:00am
Quoting bojack34
{quote} im a little confused here maybe you can clear things up for me since you are the counter "master"...lol..........lets take this trade you speak of as our example. Low trigger broke and failed.....then High trigger broke and failed........-14 in limbo...........you make another trade on another trigger and get +24 on that trade.. You now have 3 trades...... = +10pips. When you close this trade set you will bu UP +10 pips total, but you will still have that losing trade in that set and you will GIVE the broker something out of that losing...
[/b]
I'm trying to see the difference btwn the two.......
  • #23,664
  • Dec 15, 2017 8:06am Dec 15, 2017 8:06am
Quoting bojack34
{quote} im a little confused here maybe you can clear things up for me since you are the counter "master"...lol..........lets take this trade you speak of as our example. Low trigger broke and failed.....then High trigger broke and failed........-14 in limbo...........you make another trade on another trigger and get +24 on that trade.. You now have 3 trades...... = +10pips. When you close this trade set you will bu UP +10 pips total, but you will still have that losing trade in that set and you will GIVE the broker something out of that losing...
Hi Bo - I'm not speaking for Billy here (well, yes, I guess I am but you know what I mean, lol). On the surface you are perfectly correct. However, the key lies in the fact that in the counter ''block'' (of two trades), these trades are still open. They are not losses (or wins) until they are closed.

Now for me - and I will say that again...for me - this means that I can chip away at those open trades and reduce the floating loss. I will do this until another major trigger occurs and yes, it requires a certain amount of nimbleness about your trading, however this is my style. I enjoy it, not everyone does.

So, the trade for now is ''in limbo'' but we hit a strong momo move in one direction (backed of course by my normal trade machinery of micro S+D and WZ). I then enter with that momo and bag some percents / pips. Then I close THAT trade out in profit. I NEVER let it go negative. So, now I have reduced the floating loss.

Right, so you see how that goes, yes? I think you can see that part of it, it's the closing of an open trade that must happen at some point even if the overall trade block is in profit, right? Well, no, think about it. If that momo move I am riding is strong enough (and remember, our ''in limbo'' loss is never a huge one), then the original trade I am piggy-backing that was negative will now also go positive. NOW I close all in one direction. One will be a biggie and the other will be at least in positive territory.

This will be closed in accordance with an opposite trigger for me. As such, the one open trade that remains (that is now probably a single losing position, albeit still not enough to kill the overall position), will now begin to retrace, the negative getting smaller. I can then choose to either let it run as far as it will go (which may still leave a little negative), or I can enter on top of it from the early new trigger and bring some more pips to the pot, which reduces the remaining negative even quicker.

Anyway, I have said this many times in the past, that this is easier to do than explain - however I do realise that it is not necessarily easy to do for those not used to the style of trading.

If you're not used to doing this and it scares you (or you can't carry the margin sometimes required), then I would suggest just using a hard stop and trading out from that. There's nothing wrong with that.
  • #23,665
  • Dec 15, 2017 8:09am Dec 15, 2017 8:09am
Also @ samuel2133, I hope that that explanation will help you as well, in your understanding of the process (as I do it - I am not hog-tied by the constraints of intellectual property law the way Billy is, having sold his method ).
  • #23,666
  • Dec 15, 2017 8:12am Dec 15, 2017 8:12am
Anyway - had another look at the Dead Zone - DAX Candle-Switch doo-dah again today. Cash on the table.

Needless to say, it made it a little bit heart-stoppy! (Like that term? Suits trading The DAX well, lol). Looking at the chart in the aftermath it looks like there was no candle-switch - and no, there wasn't - however, there was enough of a move in the opposite direction to get me the +5%...JUST!

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  • #23,667
  • Dec 15, 2017 8:15am Dec 15, 2017 8:15am
Quoting lemercenaire
Also @ samuel2133, I hope that that explanation will help you as well, in your understanding of the process (as I do it - I am not hog-tied by the constraints of intellectual property law the way Billy is, having sold his method ).
lol... i have 2 parts which i never ever disclose.... BUT from what i do say, that is enough
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,668
  • Dec 15, 2017 8:16am Dec 15, 2017 8:16am
Trade inked...

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  • #23,669
  • Dec 15, 2017 8:21am Dec 15, 2017 8:21am
From what i just posted to Lem.
I make more off a loss,, FIXING THE LOSS.
When i normally trade for my self i try to make £50 per day (5%) it buys food and pays utilities etc.
If i have a loss i usually make double that lol,
With a loss i can then start to trade the daily range and i am good at hunting it.
We need volatility and we need the Daily Range, that is another clue. we need the triggers, i remain silent on some of that.

At the moment i am trading for gf for silly amounts, keeps me quiet
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,670
  • Dec 15, 2017 8:29am Dec 15, 2017 8:29am
Bottoms !
My Pc is supposed to be BT fibre optic high speed thingy but now loads slowly - I sit watching bottom right messages such as "down loading cache" etc.
Now my IG (MT4) chart package has died. I would use Pro-real-time via IG but I am too dumb !! If only IG did "Range bars." Tempted to go back to basic IG charts ( but no "Range Bars") if I cannot get a grip on things. Anyway, by the time I sort things out Christmas will be upon us. But I am pleased the rest of you are gathering pips.

LEM - could i bother you for a chart of the "Dead Zone" on CAD please ?

Cheers.
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every Saint has a past. Every Sinner has a Future
  • #23,671
  • Dec 15, 2017 8:41am Dec 15, 2017 8:41am
Quoting lemercenaire
{quote} Hi Bo - I'm not speaking for Billy here (well, yes, I guess I am but you know what I mean, lol). On the surface you are perfectly correct. However, the key lies in the fact that in the counter ''block'' (of two trades), these trades are still open. They are not losses (or wins) until they are closed. Now for me - and I will say that again...for me - this means that I can chip away at those open trades and reduce the floating loss. I will do this until another major trigger occurs and yes, it requires a certain amount of nimbleness about...


That will never happen because the original trigger trade and the counter trigger trade will ALWAYS be exactly -14...never different.....I also understand that you are chipping away with all of your other trades but it would still be the same %% if you used a SL instead of a counter. I'm sure there is as advantage in there somewhere I'm just having problems seeing it right now. I am also definitely not scared to trade the counter, and with the margin required, I would just limit my "tradable range" to keep myself within my limits.
  • #23,672
  • Dec 15, 2017 8:43am Dec 15, 2017 8:43am
Quoting billytt
From what i just posted to Lem. I make more off a loss,, FIXING THE LOSS. When i normally trade for my self i try to make £50 per day (5%) it buys food and pays utilities etc. If i have a loss i usually make double that lol, With a loss i can then start to trade the daily range and i am good at hunting it. We need volatility and we need the Daily Range, that is another clue. we need the triggers, i remain silent on some of that. At the moment i am trading for gf for silly amounts, keeps me quiet
From what I gather from this post......It would be wise to just sit back and wait on those "Fails" and then POUND THE SHIT OUT OF THEM!!!!!!
  • #23,673
  • Dec 15, 2017 8:50am Dec 15, 2017 8:50am
Bo, what Lem posted is good.
You can chip away which i do at times, or nail it.
At its simplest you just subtract the loss from the gain.... or counters can cancel each other.
Sometimes whip can kill stop loss but harder with a counter
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,674
  • Dec 15, 2017 8:53am Dec 15, 2017 8:53am
Quoting bojack34
{quote} From what I gather from this post......It would be wise to just sit back and wait on those "Fails" and then POUND THE SHIT OUT OF THEM!!!!!!
i
in reality yes, that is what you do..
YOU DO NOT HAVE TO COUNTER,,,, but we make more doing so...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,675
  • Dec 15, 2017 8:56am Dec 15, 2017 8:56am
Quoting bojack34
{quote} That will never happen because the original trigger trade and the counter trigger trade will ALWAYS be exactly -14...never different.....I also understand that you are chipping away with all of your other trades but it would still be the same %% if you used a SL instead of a counter. I'm sure there is as advantage in there somewhere I'm just having problems seeing it right now. I am also definitely not scared to trade the counter, and with the margin required, I would just limit my "tradable range" to keep myself within my limits.

you may have trouble closing and opening a trade when a loss happens.
don't forget i trade for 5 points(was 5%) opening and closing ba trade can eat into those points.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,676
  • Dec 15, 2017 9:30am Dec 15, 2017 9:30am
right, gf is back, i will log off but will be around.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #23,677
  • Dec 15, 2017 9:44am Dec 15, 2017 9:44am
Quoting turnip15
Bottoms ! My Pc is supposed to be BT fibre optic high speed thingy but now loads slowly - I sit watching bottom right messages such as "down loading cache" etc. Now my IG (MT4) chart package has died. I would use Pro-real-time via IG but I am too dumb !! If only IG did "Range bars." Tempted to go back to basic IG charts ( but no "Range Bars") if I cannot get a grip on things. Anyway, by the time I sort things out Christmas will be upon us. But I am pleased the rest of you are gathering pips. LEM - could i bother you for a chart of the "Dead Zone"...
I wish Mr T would spend less time agonizing over his crippled computer and more on noting that my tea is due at 4 pm prompt !
Attached Image
every Saint has a past. Every Sinner has a Future
  • #23,678
  • Dec 15, 2017 1:55pm Dec 15, 2017 1:55pm
Quoting bojack34
{quote} That will never happen because the original trigger trade and the counter trigger trade will ALWAYS be exactly -14...never different.....I also understand that you are chipping away with all of your other trades but it would still be the same %% if you used a SL instead of a counter. I'm sure there is as advantage in there somewhere I'm just having problems seeing it right now. I am also definitely not scared to trade the counter, and with the margin required, I would just limit my "tradable range"...
No - not always because I will at some point be running an ''unbalanced'' hedge in the direction of the momo move. This unbalanced trade (of 2) will go positive and so now one of the original trades is closed. This now leaves one of the original trades still negative (at whatever level). I have then entered on the opposite trigger on top of this original trade. So now I have TWO going back the same way. This goes positive on both and hey voila, NO negative at all out of all those moves.

If I can find an example of a live set from an account statement that doesn't give away info I don't want to give away, I will post them up and you will see how it can be unwound. Honestly! Lol...
  • #23,679
  • Dec 15, 2017 1:59pm Dec 15, 2017 1:59pm
Quoting turnip15
Bottoms ! My Pc is supposed to be BT fibre optic high speed thingy but now loads slowly - I sit watching bottom right messages such as "down loading cache" etc. Now my IG (MT4) chart package has died. I would use Pro-real-time via IG but I am too dumb !! If only IG did "Range bars." Tempted to go back to basic IG charts ( but no "Range Bars") if I cannot get a grip on things. Anyway, by the time I sort things out Christmas will be upon us. But I am pleased the rest of you are gathering pips. LEM - could i bother you for a chart of the "Dead Zone"...
Hi Mr-T.

Are you running Windows10? If so, it is notorious for causing ''issues'' in the background.

One of the most problematic is that it can update only partially and then try to do so again and you end up with a bunch of muddled ''gunk'' trying to do computery stuff in the background without letting you know what's going on.

I'd check your settings and see how you stand re updates.
Just about to have dinner but will post a CAD DZ when I get back, no worries.
  • #23,680
  • Dec 15, 2017 2:51pm Dec 15, 2017 2:51pm
Quoting turnip15
Bottoms ! My Pc is supposed to be BT fibre optic high speed thingy but now loads slowly - I sit watching bottom right messages such as "down loading cache" etc. Now my IG (MT4) chart package has died. I would use Pro-real-time via IG but I am too dumb !! If only IG did "Range bars." Tempted to go back to basic IG charts ( but no "Range Bars") if I cannot get a grip on things. Anyway, by the time I sort things out Christmas will be upon us. But I am pleased the rest of you are gathering pips. LEM - could i bother you for a[/highlight]...
Righty-Oh...

Here's your UC Dead Zone, Mr-T. You'd have run it as a Wick-Zone short entry out of the Upper Airspace. Percents would have been bagged. You would then have had the clear option of running the trade back in the opposite direction, with a couple of opportunities to stack the trade for mega percents on top (see detail). Sweet!

USDCAD Dead-Zone
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The S+D Zones would have also given you the confidence to take that later long entry if you had perhaps been unsure earlier due to lack of info at the original trigger time.
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