Billytt Die happy trading e/j daily breakout | Page 1411 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #28,201
  • May 14, 2018 5:35am May 14, 2018 5:35am
Quoting MrGreen95
{quote} 08-00 15 min bar break? Do you mean you was searching starting from 8:00 AM to 24:00 the breakouts of 15 minutes bar?
i look at charts and look for patterns, different time frames .
i have several times i like to trade off,
i have my main trade 08-00 15 min bar, and if that fails i go to the other bars.

I only trade once per day unless i get bored and scalp. , and then wait until next day.
As i say, If you don't trade you don't lose.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,202
  • May 14, 2018 5:36am May 14, 2018 5:36am
Quoting lemercenaire
{quote} Hi. This is the H4 bar that begins at 4:00 am uk time. So 04:00 to 08:00 bar.

I was doing the same but with the last H4 candle of the week. You go long TP 30 pips if candle close above the max. Look the data... it's hard to take SL
  • #28,203
  • May 14, 2018 5:39am May 14, 2018 5:39am
Complete yawn-fest for the Dead Zone, unless you're doing it naked on UC like Mr-T. Pairs are all floating about in space doing not much of anything.

Dollar Index may have been possible. So was one of the others I can't remember, lol. Hold on...talk amongst yourselves...

Right, the F40 is the other. The fact that I couldn't remember it probably tells you all you need to know.
  • #28,204
  • May 14, 2018 5:41am May 14, 2018 5:41am
Quoting Inception12
{quote} Am new to the forum as well and ive been trying to catch up but reading 1400 pages aint easy. Thank you for that refresher. My question however is what's the 04 stand for in 04-00 4 hour bar break
Hello and welcome, UK time.
04-00 is 04-00 am in the morning.
then 4 is the 4 hour bar (candle).
to work it out .
from midnight UK time just count 4 x 1 hour candles.(start) and count 4 x 1 hour candle for range
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,205
  • May 14, 2018 5:44am May 14, 2018 5:44am
This has got to go somewhere, sometime, right?

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1thisisgottagosomewheresometimeright14thMay18.png Size: 31 KB
  • #28,206
  • May 14, 2018 5:45am May 14, 2018 5:45am
Ok guys please, wait a minute... i'm a bit confused. Calculate also that my english su*k so i' am struggling. I need to make order in my head.

This thread was started with the purpose of trading the daily breakouts (EJ only).

Then it evolved in trading breakouts of 2 types of 4 hours bar:

1)I' m not interested in the first type which is the 4:00 AM (London) till the 8:00 AM because i'm sleeping

2) Breakout of 8:00 AM 4h bar (london) till 12:00 AM ... all right?
  • #28,207
  • May 14, 2018 5:46am May 14, 2018 5:46am
Elsewhere, Billy's old GF is getting into a nice-looking shape...

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4gettingtonicelevel14thMay18.png Size: 37 KB
  • #28,208
  • May 14, 2018 5:48am May 14, 2018 5:48am
Quoting MrGreen95
Ok guys please, wait a minute... i'm a bit confused. Calculate also that my english su*k so i' am struggling. I need to make order in my head. This thread was started with the purpose of trading the daily breakouts (EJ only). Then it evolved in trading breakouts of 2 types of 4 hours bar: 1)I' m not interested in the first type which is the 4:00 AM (London) till the 8:00 am because i'm sleeping 2) Breakout of 8:00 AM 4h bar (london) ... all right?
I was going to say that - you need to be careful, as you will be in danger of becoming buried under a blizzard of information if you try and dive in too deep too soon.

The 08:00 bar is traded off the 15 minute bar (08:00 - 08:15)
  • #28,209
  • May 14, 2018 5:51am May 14, 2018 5:51am
Quoting samuel2133
{quote} Morning all ; I just want to understand the trade management here.... In case, you had a loser, would you close it at the break of the 2h candle low? Question in attached file Thanks Lem {image}
Sam, I am going to bin the arvo session as it is chronically bad, so I will acknowledge that I have read your question and I am not ignoring you but I will answer it for you later on tonight, if that's ok.
  • #28,210
  • May 14, 2018 5:52am May 14, 2018 5:52am
Quoting lemercenaire
{quote} I was going to say that - you need to be careful, as you will be in danger of becoming buried under a blizzard of information if you try and dive in too deep too soon. The 08:00 bar is traded off the 15 minute bar (08:00 - 08:15)

Ok, all clear. Thank you
  • #28,211
  • May 14, 2018 5:53am May 14, 2018 5:53am
Quoting lemercenaire
Elsewhere, Billy's old GF is getting into a nice-looking shape... {image}
That worried me then bud.
My ex gf who i still love immensely and shall never ever be forgotten .
i have no contact with her but some of the University Personnel have been asking me to trade for them and they are using her to blackmail me into doing it.
She used the Uni Computer which is linked to others around the world to gather stats etc ( some of it was light years over my head)lol.
and it seems she should not of done that.
I will have to think of a cunning plan...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,212
  • May 14, 2018 5:56am May 14, 2018 5:56am
Quoting billytt
{quote} That worried me then bud. My ex gf who i still love immensely and shall never ever be forgotten . i have no contact with her but some of the University Personnel have been asking me to trade for them and they are using her to blackmail me into doing it. She used the Uni Computer which is linked to others around the world to gather stats etc ( some of it was light years over my head)lol. and it seems she should not of done that. I will have to think of a cunning plan...
No good deed goes unpunished, eh?

I'd think that the fact they have ''asked'' you to trade for them kind of defuses their argument!
  • #28,213
  • May 14, 2018 6:07am May 14, 2018 6:07am
Quoting lemercenaire
{quote} I was going to say that - you need to be careful, as you will be in danger of becoming buried under a blizzard of information if you try and dive in too deep too soon. The 08:00 bar is traded off the 15 minute bar (08:00 - 08:15)
Alright, instead of trying to read 1400 pages, i think it's best i just ask all my stupid questions if yuo'll endulge me. So here goes, how exactly do we trade the breakout of a 4 hr candle on a 15 minute bar
  • #28,214
  • May 14, 2018 6:09am May 14, 2018 6:09am
Quoting MrGreen95
Ok guys please, wait a minute... i'm a bit confused. Calculate also that my english su*k so i' am struggling. I need to make order in my head. This thread was started with the purpose of trading the daily breakouts (EJ only). Then it evolved in trading breakouts of 2 types of 4 hours bar: 1)I' m not interested in the first type which is the 4:00 AM (London) till the 8:00 AM because i'm sleeping 2) Breakout of 8:00 AM 4h bar (london) till 12:00 AM ... all right?
Thread 1st started trading the Daily ,,,YES....
Then trading the 04-00 4 hour canlde UK Time YES.
Then, Trading the 08-00 15 minute candle YES.

If you want to make money you have to be awake...
we are lucky in the Uk regarding trading, but we are awake collating stats etc all through the night quite often.

Look at it like working a night shift..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,215
  • May 14, 2018 6:12am May 14, 2018 6:12am
Quoting billytt
{quote} Thread 1st started trading the Daily ,,,YES.... Then trading the 04-00 4 hour canlde UK Time YES. Then, Trading the 08-00 15 minute candle YES. If you want to make money you have to be awake... we are lucky in the Uk regarding trading, but we are awake collating stats etc all through the night quite often. Look at it like working a night shift..

So, no problem. If i prove to me i can make more money with this i can stand up the whole night
  • #28,216
  • May 14, 2018 6:14am May 14, 2018 6:14am
Quoting MrGreen95
{quote} So, no problem. If i prove to me i can make more money with this i can stand up the whole night
Believe me you will.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,217
  • May 14, 2018 6:16am May 14, 2018 6:16am
Quoting Inception12
{quote} Alright, instead of trying to read 1400 pages, i think it's best i just ask all my stupid questions if yuo'll endulge me. So here goes, how exactly do we trade the breakout of a 4 hr candle on a 15 minute bar
What you do is wait for London Session to begin. Then the 1st M15 candle to form after London Opens will be your "Range". The High will be your upper trigger and the Low will be your lower trigger. You trade the break immediately when price breaks a trigger. (don't wait for a candle close). You will then go for 5 pips plus spread. You stop loss will be the Opposite Trigger. What Billy does is he DOESN"T use a SL. He will just put in a counter trade at the opposite trigger to keep his bad trade "in limbo". If this happens he will at this point have 2 trades going in opposite directions which keeps that bad trade in limbo which means your trade can no longer get any worse. He then has more "bars" he uses later in the session exactly like the one I described to you. He uses these bars to "unwind" his bad trade that is in "limbo". He will also sometimes add a 3rd trade on the opposite trigger to try and get some back instead of waiting for another Trigger at another time. He doesn't use a typical SL at the opposite trigger like everyone else does. I recommend for you since you are just now learning this method that you use a Hard Stop at the opposite trigger and then learn the other "bars" / "triggers" that billy uses to get your lost pips back. Trying to counter when you are just learning might get you into more trouble...............Remember......it's the first M15 candle to close after the London Session begins that you will use as your "range" and "triggers".
  • #28,218
  • May 14, 2018 6:18am May 14, 2018 6:18am
Quoting Inception12
{quote} Alright, instead of trying to read 1400 pages, i think it's best i just ask all my stupid questions if yuo'll endulge me. So here goes, how exactly do we trade the breakout of a 4 hr candle on a 15 minute bar
That is wrong, sorry...
we have the 04-00 4 hour candle break.....
AND
we also have the 08-00 15 minute candle break.
The first has a 90% + hit rate and the latter 60%+ hit rate.
That means nothing really, it is how we fix a bad trade....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,219
  • May 14, 2018 6:20am May 14, 2018 6:20am
[quote=bojack34;11057110]{quote} What you do is wait for London Session to begin. Then the 1st M15 candle to form after London Opens will be your "Range". The High will be your upper trigger and the Low will be your lower trigger. You trade the break immediately when price breaks a trigger. (don't wait for a candle close). You will then go for 5 pips plus spread. You sto

WOW, i am impressed Bo. and you are definitely correct with countering.....
trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,220
  • May 14, 2018 6:29am May 14, 2018 6:29am
Quoting bojack34
{quote} What you do is wait for London Session to begin. Then the 1st M15 candle to form after London Opens will be your "Range". The High will be your upper trigger and the Low will be your lower trigger. You trade the break immediately when price breaks a trigger. (don't wait for a candle close). You will then go for 5 pips plus spread. You stop loss will be the Opposite Trigger. What Billy does is he DOESN"T use a SL. He will just put in a counter trade at the opposite trigger to keep his bad trade "in limbo". If this happens he will at this...

@Inception12 the "limbo" technically is the Hedging. What you do it's to counter-balance the bad trade, if i understood correct... So if one goes bad and the market change direction, you change direction too and instead of taking a SL you can turn your loss in a BE or in a winning trade

In the image attached, the long is your loosing trade, so you go short and see you are counter-balancing the bad trade
Attached Image
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