Billytt Die happy trading e/j daily breakout

Quoting claudia1

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{quote} Give me an easy question one day. Ok let's take things a stage further - I don't work on pips my target is £. If I'd have gone into my boss and said 'hey I made 20 pips' he would have said 'I don't give a f*** I want to know how much £ you made C.' Think about it. Still not answering the question. Look at the recent highs/lows for s/l and t/p and have a financial target based sensibly on account size. Billy/Lem any thoughts ?

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Quoting bojack34

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This is the pair that I notice consolidates all the time, almost always at the end of the trading day and into the beginning of the next trading day. It appears to be doing so again. Price is sitting in a Supply Zone and on Yesterdays High. The DPV is below price......a few things pointing to a SELL, but who really knows. EURGBP {image} Here's another GBP pair consolidating nicely.......also in a Demand Zone and sitting on yesterdays LOW and price is below the DPV.......a few things pointing to a LONG....

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Quoting lemercenaire

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{quote} Precisely why I use EG for The Frankenbreak. Money in the bank.

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Quoting kevin1959

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Hi everyone. A question on the average daily range ? If for example the average daily range of crude oil is 150 The open price at 12.am is 68.29 Is the average 75 above, and 75 below the open? Hope this makes sense Thanks Regards Kev

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Quoting kevin1959

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Blimy that was quick Thanks Billytt Regards Kev

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Quoting bojack34

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{quote} Hard Stops? What size SL do you use when using this method? I remember keeping entries around 15-20 pips away from current price but I don't know how far to place the SL and TP?

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Quoting bojack34

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{quote} Understandable about the $$ target instead of pips. I never look at pips when I trade anyways, I always go off of % of account balance. I try to make a certain % for the day or lose no more than a certain % for the day......so i get the "ignore" the pip count. I sort of understand about using the recent H's/L's for s/l and t/p. Are you using the recent H/L of the "box" that you create of the consolidation area? What if there is no "consolidation area" to use? Sometimes there is just big news events coming out but it's not proceeded...

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Quoting montego

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{quote} Hi Bo, ive still got my L plates on and have a lot to learn here, But if it helps the last few times Claudia has kindly pointed these trades out, i have put the stop 1 pip above the trigger on a long and one pip below on a short, it worked for me, woke up to 30-40 pips ...

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Quoting lemercenaire

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{quote} A fib-map can be useful - I tend to do that if I ever use hard stops (which I rarely do now, maybe only if I'm leaving something overnight). As a tie-in to that, here's how lines are respected via a look at The DAX just now. {image} {image} Why do lines work? 'Coz traders believe they work. The sheep go where the sheepdog tells them to go.

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