Billytt Die happy trading e/j daily breakout | Page 1444 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #28,861
  • May 21, 2018 2:26am May 21, 2018 2:26am
Took a quick dip in Billy's GU 08:00 - 08:15, going in long on the break. I didn't hold it all the way though, as I had a micro Supply Zone sitting above on the m1 and as a result, I was happy to close for +3% (or just under).

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  • #28,862
  • May 21, 2018 2:29am May 21, 2018 2:29am
Quoting lemercenaire
Took a quick dip in Billy's GU 08:00 - 08:15, going in long on the break. I didn't hold it all the way though, as I had a micro Supply Zone sitting above on the m1 and as a result, I was happy to close for +3% (or just under). {image}
Morning Guys, Snap Lem ,traded took the long for 4%. not happy with the range though .
  • #28,863
  • May 21, 2018 2:31am May 21, 2018 2:31am
Quoting lemercenaire
Took a quick dip in Billy's GU 08:00 - 08:15, going in long on the break. I didn't hold it all the way though, as I had a micro Supply Zone sitting above on the m1 and as a result, I was happy to close for +3% (or just under). {image}
If I'd been so inclined, I could have WZ'd it back down through the candle - albeit the candle is pretty small, though a better play was probably the rebound back down from the Supply Zone (which butched up even more after the first touch).

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  • #28,864
  • May 21, 2018 2:33am May 21, 2018 2:33am
t08=31
cable,,, the actual High break Failed and it then broke the real Low and went back up.

This is a classic example of why i manually adjusted the Low ..
i am still in Long and not short.
8 Range is no good to anyone
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,865
  • May 21, 2018 2:36am May 21, 2018 2:36am
UC ranging just now, ready for a Monday break.
  • #28,866
  • May 21, 2018 2:37am May 21, 2018 2:37am
GJ may bounce.
  • #28,867
  • May 21, 2018 2:38am May 21, 2018 2:38am
Quoting lemercenaire
GJ may bounce.
Ditto EJ.
  • #28,868
  • Edited 3:45am May 21, 2018 2:39am | Edited 3:45am
last-h4candle-oftheweek report: (LH4W)

Better if i write where the target it has not been reached (for now)


USDCHF
USDCAD
EURNZD
  • #28,869
  • May 21, 2018 2:39am May 21, 2018 2:39am
i just closed my Long for +2%.

i cannot be doing with it lol... will go for a walk.
i am at gym later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,870
  • May 21, 2018 2:40am May 21, 2018 2:40am
Trade well all
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,871
  • May 21, 2018 2:46am May 21, 2018 2:46am
Quoting billytt
i just closed my Long for +2%. i cannot be doing with it lol... will go for a walk. i am at gym later
Enjoy the day Mr B, i believe this is you on your first visit. L.O.L. yAAAAY.
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  • #28,872
  • May 21, 2018 2:52am May 21, 2018 2:52am
CJ is still playing those lines from yesterday...

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This could be a happy hunting ground today.
  • #28,873
  • May 21, 2018 2:58am May 21, 2018 2:58am
Quoting billytt
i just closed my Long for +2%. i cannot be doing with it lol... will go for a walk. i am at gym later
I think you've got the right idea, Billy.

I'll keep one eye split between GJ and CJ and see which one decides to play ball first but tbh, I'm not that fussed.
  • #28,874
  • Edited 3:44am May 21, 2018 3:04am | Edited 3:44am
Okay, i have exercised with the hedging (demo)
I have opened both long and short because there was a break; then, when the price has taked a direction following also my bias, i have recovered the limbo and taked it at BE
  • #28,875
  • May 21, 2018 3:45am May 21, 2018 3:45am
Quoting billytt
i just closed my Long for +2%. i cannot be doing with it lol... will go for a walk. i am at gym later

Have a good training IronBro
  • #28,876
  • May 21, 2018 3:47am May 21, 2018 3:47am
Morning all. Traded off my smartphone, as I am outside right now.

Anyways, I am still out, can't publish what I did but it was messy. Still. The 15min bar broke both up low and high and I started the battle with a 10pips deficit. Eventually I came up as a winner but it was very hard today.

I didn't follow the reverse trade as I was already in the retrace direction? Yes I took a long as a first trade it failed. Then I was not confident at all to take a short as I thought, look left it has already dropped so the best best was a long. The rest of the story ended with taking a several longs until 95, little below 3400. And yes closed positions at 3412.. Right before it spiked.

Anyways, very risky trading but profitable. Keep in mind, I was ready to take a second loss and move on. I will detail what I did later.

My second thought was to take a back into the body first. As it has already dropped. Was the safest but again.

Just a question guys, would you wait until you are down 10pips to do something? Your advice is valuable. I need to perfect this as this is the thing I am still working on.
I have noticed up and down movements, and opening a hedge would have allowed to close the loser with little to no loss. And would have gave 3-4 or even 5%. What would you do in my situation?

Keep green guys.
  • #28,877
  • Edited 6:21am May 21, 2018 5:37am | Edited 6:21am
Quoting samuel2133
Morning all. Traded off my smartphone, as I am outside right now. Anyways, I am still out, can't publish what I did but it was messy. Still. The 15min bar broke both up low and high and I started the battle with a 10pips deficit. Eventually I came up as a winner but it was very hard today. I didn't follow the reverse trade as I was already in the retrace direction? Yes I took a long as a first trade it failed. Then I was not confident at all to take a short as I thought, look left it has already dropped so the best best was a long. The rest of the...

For what my answer is worth...

If price break both up and down, i just wait in the limbo until it takes a direction for recover, in this case, short.
I' am not still confident to trade the return in the body's candle, so i just let the price take a direction for add position and ride it. But i'll train also the trades back in the body

If you are asking why I didn’t entered long at the second breakout, it is because my bias was more bearish instead of bullish
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  • #28,878
  • May 21, 2018 6:29am May 21, 2018 6:29am
Quoting MrGreen95
{quote} For what my answer is worth... If price break both up and down, i just wait in the limbo until it takes a direction for recover, in this case, short. I' am not still confident to trade the return in the body's candle, so i just let the price take a direction for add position and ride it. But i'll train also the trades back in the body {image}
Good point here Mr Green.

GU
So here you go. I took 4 times the loss size. In my mind it has to bounce back, as it always does. If we were in a crash scenario, I would have margin call. But since no red news today and holidays, I thought it won't move that much past 13400.

Why did I take that many buys?
-Well, close to round number 13400 (first time we touch it since a long time, so must have a reaction there)
-We have already been going down during the night so a retrace was due.

What I would have done differently to limit risk, is simply going long then opening a short while keeping the long. closing the short for 5 approx. Then managing the long to close it at 1 or 2 pips loss. Making approx 3%, but with limited risk. Using the 5 min chart. I understand now the power of the hedging used by Lem.

By the way, AU 4:00 did false break but then the retrace back was beautiful. It was a nice play.
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  • #28,879
  • May 21, 2018 6:29am May 21, 2018 6:29am
Quoting samuel2133
Morning all. Traded off my smartphone, as I am outside right now. Anyways, I am still out, can't publish what I did but it was messy. Still. The 15min bar broke both up low and high and I started the battle with a 10pips deficit. Eventually I came up as a winner but it was very hard today. I didn't follow the reverse trade as I was already in the retrace direction? Yes I took a long as a first trade it failed. Then I was not confident at all to take a short as I thought, look left it has already dropped so the best best was a long. The rest of the...
First off - trading from your phone! Tried it once as a necessity and never, ever, again. Rather you than me - but I digress.

It's difficult to fully answer the question as it will come down to risk - or perceived risk. I will say that I have, in the past sat down -10 but I was fading the move and fully expecting the turn, so it was a wholly calculated risk.

What you should make note of in your post and I note Mr-G's response also is that both of you say you didn't take a move because "I wasn't confident enough".

Well, that there is all you need to know.

You obviously don't fully trust the method yet. THAT is what you need to work on.

You need the mileage under your belt running the thing as it is supposed to be run and so you will see it work and WILL have the confidence to trust it.

This is the main reason why no money should be at risk while you learn the techniques required and if this is still on demo and you are still not confident enough to trust it, then there is indeed still a long road to go.

The encouraging thing is that even though you are still not 100% committed, you STILL managed to come good. The fact that it may have been hard is neither here nor there...who said it was easy?

File it under lessons learned and move on to the next one.

It's all good
  • #28,880
  • May 21, 2018 6:32am May 21, 2018 6:32am
Quoting samuel2133
{quote} Good point here Mr Green. GU So here you go. I took 4 times the loss size. In my mind it has to bounce back, as it always does. If we were in a crash scenario, I would have margin call. But since no red news today and holidays, I thought it won't move that much past 13400. Why did I take that many buys? -Well, close to round number 13400 (first time we touch it since a long time, so must have a reaction there) -We have already been going down during the night so a retrace was due. What I would have done differently to limit risk, is simply...
The bold text paragraph tells you everything you need to know. You knew what to do but just didn't do it!

Hey, we've all been there.

The curse of over-thinking.
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