Billytt Die happy trading e/j daily breakout | Page 1405 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #28,081
  • May 10, 2018 3:58am May 10, 2018 3:58am
Quoting kevin1959
Hi all Hope everyone is ok. I've not been on for a while. Had computer issues, and work issues, all sorted out now. By for now, Regards Kev
Welcome back - get to it
  • #28,082
  • May 10, 2018 3:59am May 10, 2018 3:59am
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  • #28,083
  • May 10, 2018 4:03am May 10, 2018 4:03am
Then waited for a touch of this area for a bounce, and i was lucky that it worked. It was right before the red news.
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  • #28,084
  • May 10, 2018 4:06am May 10, 2018 4:06am
EJ @ 130.55 was also at an interesting resistance area, it did bounce and it worked.
False breakout and then it went back in.
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  • #28,085
  • May 10, 2018 4:09am May 10, 2018 4:09am
Quoting montego
{quote} Lem i have a Question, How do you know when a candle is going to wz back into the body ? i mean is there any tell tale sign's ? Been Practicing on my Demo account and Im getting ok with wz out of the body, after a fake out But i really Struggle with a wz into the body.
With The DAX, it's very much in its nature to plough ahead one way and then take a reaction to it. This behaviour is heightened a the UK Open, so it is also a matter of timing.

That's why it's crucial to know the pair you are trading. This kind of thing isn't necessarily as pronounced on other pairs. Billy could give you figures for GU for instance, that would show the likelihood of either a break or reverse (WZ back inside) on any given candle. The distribution would be different from The DAX.

There are obviously the usual hints of PA, down on the m1 or m5 for instance. I will check S+D at the micro as well as major levels (time frames). The overarching weight is that price wants to leave the WZ, so it's up to us to find any clue we can to give us an edge as to the bias (if any) - and then be ready to counter if after all that, we still get it wrong.

You can see the differences with my Witching Hour set-ups on EJ and EG. The early one will be more likely to be a continuation (break of extreme), whereas the later variant will tend towards a reversal (if I'm remembering that the right way round - either way, one does one thing, the second does the opposite).

It just takes time and chart mileage to get the rhythm and flow of the pair you are trading.
  • #28,086
  • May 10, 2018 4:10am May 10, 2018 4:10am
I hope you did recover Lem.
  • #28,087
  • May 10, 2018 4:13am May 10, 2018 4:13am
Quoting samuel2133
{image}
Closed over 13000 - so on the cards to continue on.
  • #28,088
  • May 10, 2018 4:14am May 10, 2018 4:14am
Quoting samuel2133
I hope you did recover Lem.
Yeah, that push gave me everything I needed. Have added a few on top just to poke it some more in retaliation for it messing me around, lol.
  • #28,089
  • May 10, 2018 4:26am May 10, 2018 4:26am
Quoting lemercenaire
{quote} Yeah, that push gave me everything I needed. Have added a few on top just to poke it some more in retaliation for it messing me around, lol.
  • #28,090
  • May 10, 2018 4:52am May 10, 2018 4:52am
Absolutely perfect bounce off the 50...

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  • #28,091
  • May 10, 2018 5:16am May 10, 2018 5:16am
Quoting lemercenaire
Absolutely perfect bounce off the 50... {image}
plus confluence with 13000. it was a nice trade to take
  • #28,092
  • May 10, 2018 5:44am May 10, 2018 5:44am
Quoting lemercenaire
{quote} With The DAX, it's very much in its nature to plough ahead one way and then take a reaction to it. This behaviour is heightened a the UK Open, so it is also a matter of timing. That's why it's crucial to know the pair you are trading. This kind of thing isn't necessarily as pronounced on other pairs. Billy could give you figures for GU for instance, that would show the likelihood of either a break or reverse (WZ back inside) on any given candle. The distribution would be different from The DAX. There are obviously the usual hints of PA,...
Cheers Lem Thanks for the explanation, Has given my a few ideas and helped alot
  • #28,093
  • May 10, 2018 6:09am May 10, 2018 6:09am
Right im absolutely Fumeing
waited for news reaction on cable, entered 2 positions short 0.04 lot x2 so 0.8 lot , my pipsometer went to +11 pips then the terminal froze, the terminal came back after 30 seconds , i thought it will be ok i will have earned well off this, both trades say hit stop loss in trading history for like +2 pips each Wt .... ! i didnt even put a stop loss on so how could it have been hit ? this is a london based broker and this has happened before! thats it now im drawing my money out
  • #28,094
  • May 10, 2018 6:11am May 10, 2018 6:11am
13 of 15 (including the original hedged entry) and that'll do me for the The DAX today. Lunch, then a trip to Costco for a humungous bag of wild bird seed (don't ask!).

Here's the playground and how it stands just now...

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Enjoy yourselves everyone and I'll touch base again, later.
  • #28,095
  • May 10, 2018 6:12am May 10, 2018 6:12am
Quoting montego
Right im absolutely Fumeing waited for news reaction on cable, entered 2 positions short 0.04 lot x2 so 0.8 lot , my pipsometer went to +11 pips then the terminal froze, the terminal came back after 30 seconds , i thought it will be ok i will have earned well off this, both trades say hit stop loss in trading history for like +2 pips each Wt .... ! i didnt even put a stop loss on so how could it have been hit ? this is a london based broker and this has happened before! thats it...
Just been done out of 80 pips at 0.08 lot !
  • #28,096
  • May 10, 2018 6:16am May 10, 2018 6:16am
Quoting montego
Right im absolutely Fumeing waited for news reaction on cable, entered 2 positions short 0.04 lot x2 so 0.8 lot , my pipsometer went to +11 pips then the terminal froze, the terminal came back after 30 seconds , i thought it will be ok i will have earned well off this, both trades say hit stop loss in trading history for like +2 pips each Wt .... ! i didnt even put a stop loss on so how could it have been hit ? this is a london based broker...
Ah, that's crappy. Sorry, buddy.

There was something to be said for ye olden days when you told the Fund Monkey on the other end of the phone you've had pressed to your ear for the last 10 mins waiting...waiting...to take THAT price NOW!!!...and they did.
  • #28,097
  • Edited 6:38am May 10, 2018 6:24am | Edited 6:38am
Quoting lemercenaire
{quote} Ah, that's crappy. Sorry, buddy. There was something to be said for ye olden days when you told the Fund Monkey on the other end of the phone you've had pressed to your ear for the last 10 mins waiting...waiting...to take THAT price NOW!!!...and they did.
Hi lem Cheers bud, has happened before with this broker when i had a loseing trade at -£10 the terminal froze when i was trying to close the trade, all my internet was running ok i was refreshing my browser with no problems and had to close the terminal, and re- open it, it came on then went again, so in the end i had to ring them by this time had lost £156 , i complained they were not interested ! plus this freeezing when there is a big news release has happened several times.
Does anybody know who i can report a broker to ?
  • #28,098
  • Edited 7:22am May 10, 2018 7:09am | Edited 7:22am
Quoting montego
{quote} Hi lem Cheers bud, has happened before with this broker when i had a loseing trade at -£10 the terminal froze when i was trying to close the trade, all my internet was running ok i was refreshing my browser with no problems and had to close the terminal, and re- open it, it came on then went again, so in the end i had to ring them by this time had lost £156 , i complained they were not interested ! plus this freeezing when there is a big news release has happened several times. Does anybody know who i can report a broker to ?
https://www.fca.org.uk/

You probably wasting your time. That was a massive move and spreads would increase and probably got you.
  • #28,099
  • May 10, 2018 7:40am May 10, 2018 7:40am
[quote=claudia1;11046392]{quote} https://www.fca.org.uk/ You probably wasting your time. That was a massive move and spreads would increase and probably got you.[/quote
Unfortunately I tend to agree. Price has jumped your stop and unless it's guaranteed, well...

The "freezing" of your terminal could also be your trade going off book as you try to close it. That is, no price available (not to be confused with off book trading) and due to traffic through the (I assume online) terminal.

Still crap though.
  • #28,100
  • May 10, 2018 9:25am May 10, 2018 9:25am
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