Billytt Die happy trading e/j daily breakout | Page 1439 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #28,761
  • May 19, 2018 6:25am May 19, 2018 6:25am
Quoting samuel2133
AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soon as it goes back and if we decided to close the trade flat (BE+1), you would reverse as soon as it crosses back and...

Hi bud, a very interesting question ,,,and Lem will answer it lol..
JOKING, i will explain later when i have more time......i do not want to miss anything out...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,762
  • May 19, 2018 6:41am May 19, 2018 6:41am
Quoting billytt
{quote} do it manually lol Hope you are ok bud.. how did the wife do on the rugby bash?
Hi Billytt.
She loved it.
I was not so happy.
It's her 50th at the end of May.
(Me) do you want a party
(She) No, I don't feel like having a party.
(Me) What about a garden party invite friends and family, like we did for your 40TH.
(She) No I don't want a party.
I goes down to our local last Friday night, she set off about dinner time, and splashed all over facebook is someone that looked very similar to my other half having a 50th birthday party.
She said it was a surprise.
It certainly was lol.
Iv'e been sulking all week lol
Regards
Kev
  • #28,763
  • May 19, 2018 7:02am May 19, 2018 7:02am
Quoting billytt
{quote} Hi bud, a very interesting question ,,,and Lem will answer it lol.. JOKING, i will explain later when i have more time......i do not want to miss anything out...
Thanks buddy

Here is another one.

It did false break out. But it has been doing down since 2AM (is 8AM the time it turns or at least retrace?). Anyways, being discretionary, we could decide to not catch the first move down and then take the move back to the body (a retrace before continuation or reversal)?

So yeah, it doesn't break and comes back, you close the first trade at BE? and then take the counter trade and keep the SL at the new bottom, it did retrace a nice 11 pips. So you've got that 5+spread and a little more (10pips approx).
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-05-19 at 1.59.35 PM.png Size: 288 KB
  • #28,764
  • May 19, 2018 7:11am May 19, 2018 7:11am
Quoting billytt
{quote} Hi Inception,,, i will never give out a 100% explanation on fixing a failed trade..(or i will be got at if found out) I have over months and months told what i do though.. Lem knows how i work and Claudia has a good idea. My trades are all based off counter and clawing back the loss..(sometimes all at once) and (sometimes a few points at a time) A clue is here. Suppose over 5 days i should have +5 +5 +5 +5 +5 =25% example..... OR +5 +5 +5+ +5 +7 =27% that is +2% extra.. I then take that 2% away from the 27% and keep it separate. so 25% &...
Alright...thanks for that explanation. makes a lot of sense
  • #28,765
  • May 19, 2018 7:16am May 19, 2018 7:16am
Here is a 3 step case, I've found.

But of course, this is theoritical, and also you need to jump in the buttons fast lol.

The fourth trade would have made the pips also (BUY from the new bottom formed by the first fail). It did travel 5+ pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-05-19 at 2.16.57 PM.png Size: 267 KB
  • #28,766
  • May 19, 2018 7:31am May 19, 2018 7:31am
Quoting kevin1959
{quote} Hi Billytt. She loved it. I was not so happy. It's her 50th at the end of May. (Me) do you want a party (She) No, I don't feel like having a party. (Me) What about a garden party invite friends and family, like we did for your 40TH. (She) No I don't want a party. I goes down to our local last Friday night, she set off about dinner time, and splashed all over facebook is someone that looked very similar to my other half having a 50th birthday party. She said it was a surprise. It certainly was lol. Iv'e been sulking all week lol Regards Kev...

not sure what to say bud...BUT a surprise is a surprise and she didn't know about it.....
...
When i got married i did not have a stag do planned.... (now split) lol
BUT i got a call off a girl mate saying did i fancy going out for a drink..
i replied and blah blah and turned up at the bar .
I had 23 females waiting there and that was a surprise stag do yaaaaaaaaaaaaaaaaaaaaaaaaaaaay .
and it was a surprise to me.

AND NO, i wasnt stripped naked and tied to a lamp lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,767
  • May 19, 2018 7:59am May 19, 2018 7:59am
Quoting MrGreen95
{quote} Very nice! So you have Neapolitan blood
My father's side - come from Avellino to be exact. 30 miles away but pretty close
  • #28,768
  • May 19, 2018 8:19am May 19, 2018 8:19am
Quoting samuel2133
AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soon as it goes back and if we decided to close the trade flat (BE+1), you would reverse as soon as it crosses back and...
Hi Sam,

Twiddling my thumbs here, so thought I'd check in.

First thing to know is that although Billy and I trade very, very, similarly, there are subtle differences, though when the dust settles, we end up with the same result.

This shows specifically on the AU H4 set-up, where Billy runs the way you know but I will run it with a Wick-Zone sauce on top. So, our counters do not kick in at the same time, though if he installs a retrace trade in the mix, that gets close.

For that first question that talks about getting to within a hair of closing, tbh, I will say that I am not anal about that, I will close for +3% and be happy.

You ask about closing for BE+1 and re-entering, etc and yeah, why not?

My countering is triggered off the m5 or m15 candle that has just closed, I can say that. That keeps my floating loss tight. For this AU, I could never let it ride all the way to the other side of the four hour bar.

For me, this is beginning to get into how you start to develop your own twist to things. Especially if you would prefer to use a sl and not a floating loss and counter. You need to decide what you are comfortable with and what suits your style of trading and psychological makeup.

That, again, is why it is important that you get as much mileage under your belt as quickly as you can (awkward, I know, if you are looking at only one specific set-up per day - but still true nevertheless).
  • #28,769
  • May 19, 2018 8:20am May 19, 2018 8:20am
Ah well, the sun is still shining, I have my second wind - cuppa installed - so I shall venture back out. It's a hard life but somebody's got to do it...
  • #28,770
  • May 19, 2018 10:43am May 19, 2018 10:43am
Quoting MrGreen95
Good morning guys. It's a very beautiful day here in Naples, the sun is shining. I wish you a good Saturday {image}
very nice Mr G...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,771
  • May 19, 2018 10:54am May 19, 2018 10:54am
[quote=samuel2133;11077049]AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soo

Hi, i was thinking how to answer your question in a simple way....
Let us speak my method..
08-00 15 minute bar.....
we have a break and i enter. it either gets me 5 straight away, OR retraces a bit and then retraces again to get me 5. OR FAILS.
Then we look at next trade.
i do not look at any other time frame, I KEEP IT SIMPLE
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,772
  • May 19, 2018 10:59am May 19, 2018 10:59am
[quote=samuel2133;11077049]AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soon as it goes back and if we decided to close the trade flat (BE+1), you would reverse as soon as it crosses back and take the counter trade back into the body. But this time set the SL at 5.5 pips (the new bottom formed by the false breakout) and then wait for it to make the 5 pips in this directi

2ND PART.
i speak of 08-00 15 min bar break.
(sometimes) i place 2 trades on a break.
Trade A makes 5, and i let Trade B carry on.
If Trade B then retraces i will close it for +1/+2 as long as i make a gain.
I can either split my lot size into 2 for the 2 trades or use 2 full lots.

This extra is used to fix bad trades.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,773
  • May 19, 2018 11:01am May 19, 2018 11:01am
[quote=samuel2133;11077049]AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soon as it goes back and if we decided to close the trade flat (BE+1), you would reverse as soon as it crosses back and take the counter trade back into the body.

It would be the same if i traded the 04-00 4 hour bar or even the Daily....

We can even just trade off a retrace providing the original break has not made the stat amount.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,774
  • May 19, 2018 11:05am May 19, 2018 11:05am
What ever i am or was trading , (lets say 08-0000 15 )
If we have a break and it makes 5 and retraces before making 10 (stat ) we can still trade it again and again and again until that 10 (stat) is broken.

Remember , the more you trade the more probability to lose.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,775
  • May 19, 2018 11:06am May 19, 2018 11:06am
Change of subject, the newts in my gf's wildlife pond are thriving really well..
and the tadpoles are growing too.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,776
  • May 19, 2018 11:15am May 19, 2018 11:15am
Quoting billytt
Quoting samuel2133
AU. Here is an attached chart of AU 4:00 BREAK bar. (5min). First break is south. It did give 5.5pips first. Depending on commission + spread. Might not be enough. So it retraces. My questions here: Would you close it when it crosses back? so basically, you are B/E. You move SL (or mentally have it) to BE+spread/commission as soon as it goes back to the line or give it a chance to bounce back and give the full 5 pips? Second, as soo Hi, i was thinking how to answer your question in a simple way.... Let us speak my method..
...
Ok understood. Can you explain when it is considered fail? When it hits -5pips? or more or the outside of the 8:15 bar?

This one retraced a little bit less than 5 pips. and it gave its pips. What can you tolerate as a DD? is it the other extremity of the 8:00-8:15 candle or is it fixed to 5 pips or another value ?

Thanks Billy and tell me if i become annoying. lol.

Thanks again
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-05-19 at 6.15.48 PM.png Size: 150 KB
  • #28,777
  • May 19, 2018 11:16am May 19, 2018 11:16am
You too Lem, let me know if i become annoying. lol.
  • #28,778
  • May 19, 2018 11:44am May 19, 2018 11:44am
Quoting lemercenaire
{quote} Hi Sam, Twiddling my thumbs here, so thought I'd check in. First thing to know is that although Billy and I trade very, very, similarly, there are subtle differences, though when the dust settles, we end up with the same result. This shows specifically on the AU H4 set-up, where Billy runs the way you know but I will run it with a Wick-Zone sauce on top. So, our counters do not kick in at the same time, though if he installs a retrace trade in the mix, that gets close. For that first question that talks about getting to within a hair of...
Yes true. Since I am trading full-time now, I try as much as possible to use the simplest/proven methods as possible and try to avoid letting losers run. I feel I will need at least 1 more year at least before this becomes a second nature.
  • #28,779
  • May 19, 2018 12:05pm May 19, 2018 12:05pm
Quoting samuel2133
{quote}{quote} Ok understood. Can you explain when it is considered fail? When it hits -5pips? or more or the outside of the 8:15 bar? This one retraced a little bit less than 5 pips. and it gave its pips. What can you tolerate as a DD? is it the other extremity of the 8:00-8:15 candle or is it fixed to 5 pips or another value ? Thanks Billy and tell me if i become annoying. lol. Thanks again {image}
i do not mind answering questions...
we have an 08-00 15 minute bar.. example 15 Range..

If we have a break of short and then it retraces to break the High (without making 5 points, we lose ) or vice versa.
That is when i will counter..

With 04-00 4 hour bar and the Daily. I did not let it retrace the full range before fail but i had a limit. Limit was approx -30.
The latter 2 candles/bars are more difficult to explain.
Don't forget, i trade off Frequency Distribution, odds and probabilities AND SOME EXPERIANCE lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,780
  • May 19, 2018 12:13pm May 19, 2018 12:13pm
When i say SOME EXPERIENCE, perhaps i should not.

But look at the past week,
we have Average Daily Range and this is a big player.
i take 5... Even though i do not look at any other time frame once i am in a trade ..i am aware of the 00-00 and 04-00 4 hour bars.
and i have now started saying where i would expect the pair to go.( to next level high/low.
All this can be traded but i do not need to.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
9 traders viewing now