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Billytt Die happy trading e/j daily breakout
- #32,424
- Edited 2:16pm Aug 18, 2018 2:00pm | Edited 2:16pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Hi all, I just started reading this thread last week, and am excited to learn more and start trying some of the trading styles. I think I’m going to start with dead zone and wick zone trades. However, my question isn’t about a specific style, it’s about tracking stats. Maybe there’s already a post about it and I missed it (it’s a large thread, and I haven’t read every single post), but what specific stats/metrics do you track? I’m used to tracking things like pair, day of week, time of day, maximum favorable excursion, maximum adverse excursion,...
All of my methods share the same
DNA and I merge stats gathered by The Head with those of my own. I have no interest in re-inventing the wheel by reworking the legwork done by him. My stats are more along the lines of pattern-recognition work, rather than pure mathematics.Because of this, all of my methods can be overlaid and one can run into the other. This is 100% deliberate.
One thing to remember, is that Wick Zone is first and foremost a technique, not necessarily a method in its own right...though it can be, lol. Once you begin to get settled in here, we can go over the detail and get into what I mean by that, if you wish.
What I would say, is that I would be inclined to say to you that unless you are doing it just for fun (and I know there are those that do
) then I would trust the work that has been done - especially by Billy on his methods - and simply run the methods. From there, you can track and build your own bank of up-to-date stats if you are so inclined.
- #32,426
- Aug 18, 2018 2:56pm Aug 18, 2018 2:56pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Just having a look at what went on on Friday. Very nice Long-Bias entry on The DAX via The Dead Zone.
- #32,427
- Aug 18, 2018 8:34pm Aug 18, 2018 8:34pm
{quote} Hi there and welcome aboard. Hope you find something interesting enough to keep you here. All of my methods share the same
references, technique vs. method, etc).I think the best course of action is for me to keep reading your old posts, post my trades, and ask questions when I can't find the answer in this thread.
So on Friday I took two DWZ trades on the NZDUSD. One was a loser for ~6 pips and the other was a winner for ~6 pips. The second trade was on slightly larger size, so I was a little better than breakeven for the day. They were both long trades, heading out of the previous day's upper wick zone. Kind of pathetic that I only got 6 pips when it went about 30 pips above the previous day's high, but I'm just getting started so hopefully I will improve with time.
One concern I have is that my spreads might be too large to trade this effectively. For most of the pairs I'm looking at (EU, UJ, AU, UCAD, NU, UCHF, GU) the spread is between 1-1.5 pips. But pairs like EJ and GJ might be 2-3 pips. If we're looking for moves as small as 5 pips, how big of a spread is too big?
- #32,429
- Aug 19, 2018 6:00am Aug 19, 2018 6:00am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} I'll be honest, I didn't follow all of that (the
I'm just heading out the door, so I'll get back to you on my return.
What I will say is that there are specific pairs for running The Dead Zone on, due to the way they move at that time. You are correct, however, that spread does restrict the pairs available, even among those chosen for that list.
The ones I used originally are obviously back in the thread and I will post up the ones I tend to use now.
Unfortunately two of the best, USDNok and GBPNZD, usually are two that can take themselves out of the running due to idiot spreads.
I also don't usually touch USDCHF due to SNB nonsense.
Back later.
- #32,430
- Aug 20, 2018 1:14am Aug 20, 2018 1:14am
- Joined Dec 2016 | Status: Trader | 1,408 Posts
Morning guys The Lem Monster bout this morning.
Price gap up to Resistance + above the Asian Range.Enter short and exit before the Asian Range hi (Just in case L.O.L.) action was very swift as usual, bagged my 5 points 
,and the monster continued south back to the Daily Open, leaving plenty on the table 
. happy with the 5 
. time for breaky me thinks. Trade safe catch you later. 
Price gap up to Resistance + above the Asian Range.Enter short and exit before the Asian Range hi (Just in case L.O.L.) action was very swift as usual, bagged my 5 points ,and the monster continued south back to the Daily Open, leaving plenty on the table . happy with the 5 . time for breaky me thinks. Trade safe catch you later. 
- #32,431
- Aug 20, 2018 1:24am Aug 20, 2018 1:24am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Morning guys The Lem Monster bout this morning.
Nice grab on that, Pips. Had hoped you had got on board. Price has retreated again and has kind of reset to the sort of position you faced earlier.
Overall, it looks like a weak sell at the moment. There is that gap to fill and price is trapped under a 50-Fib and Supply Zone. Because of that, if nothing changes in the meantime, I'd be looking at a possible drop before another attempt to push Long. We need to remember that looking at the big picture, we are sitting inside a major Demand Zone.
- #32,432
- Aug 20, 2018 1:25am Aug 20, 2018 1:25am
- Joined Dec 2016 | Status: Trader | 1,408 Posts
This is the Dax Monster H1 chart that I was considering, it shows a possible Rising Wedge formation, = ?. Just saying,
The top descending Trend Line is where Price Bounced this Morning, and that makes 3 bounces so far, it may mean nothing I am just Looking and observing. Interesting 
The top descending Trend Line is where Price Bounced this Morning, and that makes 3 bounces so far, it may mean nothing I am just Looking and observing. Interesting 
- #32,433
- Aug 20, 2018 1:42am Aug 20, 2018 1:42am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
This is the Dax Monster H1 chart that I was considering, it shows a possible Rising Wedge formation, = ?. Just saying,
- #32,434
- Aug 20, 2018 1:52am Aug 20, 2018 1:52am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Did a ''Pips'' and went in pre-KO as the opportunity was there. Bounce off the Open. Played out well.
- #32,435
- Aug 20, 2018 1:57am Aug 20, 2018 1:57am
- Joined Dec 2016 | Status: Trader | 1,408 Posts
Did a ''Pips'' and went in pre-KO as the opportunity was there. Bounce off the Open. Played out well. {image}
- #32,436
- Aug 20, 2018 2:11am Aug 20, 2018 2:11am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
At the KO, took a momo entry as the second bounce off that Open level. Pushing my luck, perhaps, as you can see what happened after the kick Long. Immediate rebound and drop all the way back and more. I could have taken that - and tbh that was probably the higher probability trade - but I let it go.
Anyway, closed out my move as price got to the Supply Zone.
Anyway, closed out my move as price got to the Supply Zone.
- #32,439
- Aug 20, 2018 2:39am Aug 20, 2018 2:39am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Dayuuuummm...Should have stacked that DAX.
That hindsight method of trading is sooooooooo easy, lol.
That hindsight method of trading is sooooooooo easy, lol.