Billytt Die happy trading e/j daily breakout | Page 1416 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #28,301
  • May 15, 2018 3:24am May 15, 2018 3:24am
Quoting MrGreen95
{quote} Ok so i did the wrong trade. I taked it long at 8:00 am, the green one..
lol, well done. This might be a new method
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,302
  • May 15, 2018 3:28am May 15, 2018 3:28am
Quoting MrGreen95
{quote} I have studied it and often you go at BE or loss if you don't know -exactly- when to exit. I think it's better 10 pips: in the long run you are more profitable
Agreed. If you are willing to wrangle the trade all week, then there are plenty of ways to add-in / counter-to-cover etc and it's a robust way to trade but I don't do long tf stuff any more. Been there, got lots of t-shirts.

All those t-shirts are stuck in the back of the cupboard now.

Give me 5 nano-seconds of insanity riding the back of The Monster now any day.
  • #28,303
  • May 15, 2018 3:49am May 15, 2018 3:49am
Quoting MrGreen95
If you want 10 pips, enable period separator on h4. Watch every last h4 candle of the week: buy/sell when it is breaked. You have 280 potential pips every week only with this, trading with the same logic (so, with hedging too eventually) Just a thought - i don't want to hijack. {image}
Well, a little more explantion on this method. By 280 pips, do you mean trading all 28 pairs and just running away with 10 pips on each? or am i getting it wrong
  • #28,304
  • May 15, 2018 3:50am May 15, 2018 3:50am
Quoting billytt
i was going to say, Today was a good example. we had a break and then a retrace, WE CAN TRADE THE RETRACE.. if it loses we lose less, but if it wins we can win the 5 + the retrace amount
Hi Billy and lem,

- Are you using same position sizing for brake and for retrace?
- What if the retrace fails?
Double the account
  • #28,305
  • May 15, 2018 3:56am May 15, 2018 3:56am
Quoting zghnno
{quote} Hi Billy and lem, - Are you using same position sizing for brake and for retrace? - What if the retrace fails?

If the retrace fails but the price remain trapped in the 8:00 am candle, you wait...

If the price break the other side of the 8:00 am candle, you counter-trade.

These are the basic rules. I'm writing also for repeat it to myself
  • #28,306
  • May 15, 2018 4:01am May 15, 2018 4:01am
Quoting MrGreen95
{quote} If the retrace fails but the price remain trapped in the 8:00 am candle, you wait... If the price break the other side of the 8:00 am candle, you counter-trade. Read previous pages

And what if 8am candle break fails?
Double the account
  • #28,307
  • May 15, 2018 4:02am May 15, 2018 4:02am
Quoting zghnno
{quote} And what if 8am candle break fails?

I think you have to wait. The price must take a direction... sooner or later. And when it will happen, you will be in the game
  • #28,308
  • May 15, 2018 4:10am May 15, 2018 4:10am
Quoting zghnno
{quote} Hi Billy and lem, - Are you using same position sizing for brake and for retrace? - What if the retrace fails?
Hi and welcome...
If the retrace fails we do not lose as much.....

It is a good method for beginners, i sometimes do a retrace trade for extra points.
It all adds up.

edit,,, as for Lot size.... it is up to you, either 100% as normal or try 50% and a second trade on the actual break (2 trades)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,309
  • May 15, 2018 4:20am May 15, 2018 4:20am
garden time, catch you all later.........
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,310
  • May 15, 2018 4:26am May 15, 2018 4:26am
Quoting billytt
garden time, catch you all later.........
Thanks Billy when you come back can you please explain the math behind 5% on 5 pips?


For example a £1000 account means £50 on 5 pips. What leverage is required?

This also means you double the account in one month. So 5% * 20 trading days = 100%

Is this correct? On my 100:1 account seems not possible to open multiple trades to get 5% on 5 pips move.
Double the account
  • #28,311
  • May 15, 2018 5:00am May 15, 2018 5:00am
GU. Step 2.

All good.
Took a long at 3527 as a retrace trade. Stayed in during the news. made the pips and out. Trying to prove this is consistent for myself.

Once I complete a full 20 trades using this method (initial trade + the trade that covers the loss and makes the pips), I will try to come back to my beloved DAX for the 6-8 breakout/contrarian trade.
  • #28,312
  • May 15, 2018 5:39am May 15, 2018 5:39am
Quoting zghnno
{quote} Thanks Billy when you come back can you please explain the math behind 5% on 5 pips? For example a £1000 account means £50 on 5 pips. What leverage is required? This also means you double the account in one month. So 5% * 20 trading days = 100% Is this correct? On my 100:1 account seems not possible to open multiple trades to get 5% on 5 pips move.
Hi , First , i never used leverage.....

When i opened this thread (I keep story short) i traded off a 1k account,,, £10 per pip looking for £50 , that is 5%.
This gave me something to talk about in here AND pay some bills.....

I ALSO HAD A SECOND BANK ROLL which was big.
i cannot tell what i actually did but it was similar to borrowing from bank and repaying.
i have told this story many times in here.

i actually trade for my gf now but use bigger lot size BUT STILL HAVE THE SECOND BANK....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,313
  • May 15, 2018 6:46am May 15, 2018 6:46am
Well, someone's kicking over tables out there just now, lol.

Assuming that (a) it calms down and loses steam and (b) it doesn't react and reverse too early, it gives the best Dead Zone options as CJ and UJ.

We'll see.

Jeez...such temper tantrums
  • #28,314
  • May 15, 2018 6:53am May 15, 2018 6:53am
Quoting zghnno
{quote} Thanks Billy when you come back can you please explain the math behind 5% on 5 pips? For example a £1000 account means £50 on 5 pips. What leverage is required? This also means you double the account in one month. So 5% * 20 trading days = 100% Is this correct? On my 100:1 account seems not possible to open multiple trades to get 5% on 5 pips move.
Billy has answered this but I should add that we here use Spread Betting accounts, so we are able to stipulate that we want to go in at x-amount per pip movement. Leverage doesn't really come into it.

£10G acc gets £500.
£1G acc gets £50.
etc. etc. et al.

I (and I think Billy) keep the working bank the same by regularly withdrawing funds, unless there is a new kitchen to be bought, lol, with floating funds available should we end up with 20 counters running at the same time .
  • #28,315
  • May 15, 2018 6:54am May 15, 2018 6:54am
Quoting lemercenaire
Well, someone's kicking over tables out there just now, lol. Assuming that (a) it calms down and loses steam and (b) it doesn't react and reverse too early, it gives the best Dead Zone options as CJ and UJ. We'll see. Jeez...such temper tantrums
Could be interesting. Stay alert for "dead zone" and "Wick zone" on CAD
every Saint has a past. Every Sinner has a Future
  • #28,316
  • May 15, 2018 6:57am May 15, 2018 6:57am
Quoting samuel2133
GU. Step 2. All good. Took a long at 3527 as a retrace trade. Stayed in during the news. made the pips and out. Trying to prove this is consistent for myself. Once I complete a full 20 trades using this method (initial trade + the trade that covers the loss and makes the pips), I will try to come back to my beloved DAX for the 6-8 breakout/contrarian trade.
Or do both!
  • #28,317
  • May 15, 2018 6:58am May 15, 2018 6:58am
Quoting lemercenaire
Well, someone's kicking over tables out there just now, lol. Assuming that (a) it calms down and loses steam and (b) it doesn't react and reverse too early, it gives the best Dead Zone options as CJ and UJ. We'll see. Jeez...such temper tantrums
Cable got plenty left yet - adr 20 around 50%. See what 13.30 does.
Attached Image (click to enlarge)
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  • #28,318
  • May 15, 2018 7:03am May 15, 2018 7:03am
Quoting turnip15
{quote} Could be interesting. Stay alert for "dead zone" and "Wick zone" on CAD
Tight range. CADJPY looks good. Let's see?
  • #28,319
  • May 15, 2018 7:19am May 15, 2018 7:19am
Quoting claudia1
{quote} Cable got plenty left yet - adr 20 around 50%. See what 13.30 does. {image}
yaaaaaaaaaaay the queen is back..

plenty of room, i said first stop should be approx 13510 then more. adr small like you say, even if it doesnt do 100 it should get 70.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,320
  • May 15, 2018 7:24am May 15, 2018 7:24am
What a muppet!

Note to self...don't rest your finger on the BUY button when you don't want to buy...Harumph!

Had wanted the Buy on CJ (as would have been at the time, with price sitting on the Demand Zone) but as feared, the move happened before the KO and I wasn't at the screens to let me get on board for a cheap ride up with it.

Figured I'd try and sneak a little from UJ instead, as it didn't seem to have gone yet. This would obviously be a Sell. Took that.

Soooooooo....still had Buy move sitting up for CJ, didn't I...getting ready to close it down and nerve twitched and all of a sudden I'm in a Buy trade. So I have now, for all intents and purposes, countered myself.

At least it was on different pairs. Only saving grace. This meant that I was able to nab the small shimmy moves in my direction and in the long run, ended up with near enough +5% anyway, with a couple of percent or so off of each.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Sometimes I need a good slapping.
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