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Billytt Die happy trading e/j daily breakout

  • #32,601
  • Aug 24, 2018 3:33pm Aug 24, 2018 3:33pm
Quoting claudia1
{quote} G/N is for the brave only.
Of course.

Elsewhere, take a look at the S&P (H1). Looks like it's painting itself a nice little channel. I reckon either a turn, drop and bounce from the obvious - - level, or a push slightly higher for a rebound from Supply.

Either way, yum.
  • #32,602
  • Aug 25, 2018 12:40am Aug 25, 2018 12:40am
Quoting claudia1
{quote} A loss is good as manage it right the win is bigger.
of course it is, that is how i operate.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,603
  • Aug 25, 2018 12:46am Aug 25, 2018 12:46am
Quoting ia1979
{quote} Hi Billy, As far as I can tell, the low broke, then the high broke (only just) and then the low broke again. This is for the 8am trade today. This last break brought in the percents. With regards to the 4H trade yesterday, did you trade the low, then high and then low again? No counter was needed for the 4H break today. Looks like USDCAD was good for a Lem style DZ trade today. Thanks
Hi, normally i trade and if i take a fail i counter,
SOMETIMES i might take a second counter on the same day,
my main object is to hold the fail in limbo and then trade the following day as this will then have different stats to work off.
i am currently only trading my Test and have several counters running blah blah and this would be very difficult to explain and it is also difficult due to the new rules of margin lol...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,604
  • Aug 25, 2018 12:48am Aug 25, 2018 12:48am
Quoting claudia1
{quote} Good songs to enjoy there - how about this for going back in time. Seagull man will like this. https://www.youtube.com/watch?v=5UWRypqz5-o
how odd, i was only listening to Steppenwolf 30 mins earlier, and tracks i have never heard before....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,605
  • Aug 25, 2018 11:31am Aug 25, 2018 11:31am
The first full week trading the DWZ trading resulted in slightly worse than breakeven.

The main things I’m struggling with (which I think might improve with experience) are listed below. If anyone has thoughts/advice on any, feel free to share.
1. Which pair to trade. It’s been a different pair each day based on which setups I like best that day. But maybe it would be better to just pick one pair and stick with it.
2. How to enter. It seems like whenever I try to enter right at the break (either outside the wick or back into the body) that I always get significant drawdown right away. So I’ve been dropping to a lower TF and waiting for a retest after the break. I saw that Billy & Lem already provided their thoughts on this one.
3. Exits. I’ve been putting my SL somewhere around 5x-10x the spread. Targets have been discretionary based on ATR/S&R. As far as SLs go, I don’t see you guys talking about stops much, but I do see you saying things like “counter” or “hedge.” What do you mean by that? Is that just a stop-and-reverse?
  • #32,606
  • Aug 25, 2018 11:47am Aug 25, 2018 11:47am
Quoting relyt
The first full week trading the DWZ trading resulted in slightly worse than breakeven. The main things I’m struggling with (which I think might improve with experience) are listed below. If anyone has thoughts/advice on any, feel free to share. 1. Which pair to trade. It’s been a different pair each day based on which setups I like best that day. But maybe it would be better to just pick one pair and stick with it. 2. How to enter. It seems like whenever I try to enter right at the break (either outside the wick or back into the body) that I always...
If it were me I would edit that post and add 4. 'when are the best times of day to trade ?'

The answers have all been given in the thread so many times.
  • #32,607
  • Aug 25, 2018 11:50am Aug 25, 2018 11:50am
Quoting claudia1
{quote} If it were me I would edit that post and add 4. 'when are the best times of day to trade ?' The answers have all been given in the thread so many times.
Thanks, I’ll just keep reading, then. I’m sure I’ll find them sooner or later.
  • #32,608
  • Aug 25, 2018 1:53pm Aug 25, 2018 1:53pm
Quoting relyt
The first full week trading the DWZ trading resulted in slightly worse than breakeven. The main things I’m struggling with (which I think might improve with experience) are listed below. If anyone has thoughts/advice on any, feel free to share. 1. Which pair to trade. It’s been a different pair each day based on which setups I like best that day. But maybe it would be better to just pick one pair and stick with it. 2. How to enter. It seems like whenever I try to enter right at the break (either outside the wick or back into the body) that I always...
Before I go into any deep specifics on DWZ, I will ask whether you have watched you-know-who's videos on the subject? That way I won't be wasting time going over stuff that you have already heard.

Countering isn't 'stop-and-reverse'. It's 'nedging', taking an opposite position on the same instrument and is a technique to hold a 'floating' loss until the negative can be recovered.

You answered your own question re the initial drawdown.
  • #32,609
  • Aug 25, 2018 2:48pm Aug 25, 2018 2:48pm
Quoting lemercenaire
{quote} Before I go into any deep specifics on DWZ, I will ask whether you have watched you-know-who's videos on the subject?
I have. It all made sense to me in general. I can tell that a lot of references to him on here are very hidden. I'm not sure why, but I'm guessing there's a good reason. Anyway, after a lot of digging, I did find a couple of his DWZ videos from 2016, I believe.

Quoting lemercenaire
{quote} Countering isn't 'stop-and-reverse'. It's 'nedging', taking an opposite position on the same instrument and is a technique to hold a 'floating' loss until the negative can be recovered. You answered your own question re the initial drawdown.
That's helpful, thank you.
  • #32,610
  • Aug 25, 2018 3:13pm Aug 25, 2018 3:13pm
Quoting relyt
{quote} I have. It all made sense to me in general. I can tell that a lot of references to him on here are very hidden. I'm not sure why, but I'm guessing there's a good reason. Anyway, after a lot of digging, I did find a couple of his DWZ videos from 2016, I believe. {quote} That's helpful, thank you.
Mentioning The Head Alien or linking to his stuff / sites will result in a whole world of bad s*** falling on your head.

As for countering, this has been made more difficult due to the ESMA guff. More specifically on the unwinding side of things, as you are getting into multiple trades greater than the initial two trades.
  • #32,611
  • Aug 25, 2018 4:56pm Aug 25, 2018 4:56pm
Quoting lemercenaire
{quote} Mentioning The Head Alien or linking to his stuff / sites will result in a whole world of bad s*** falling on your head.
Weird. If there’s anywhere besides the threads here (this one, HOLO, 1-2-3) and his YT channel that I can learn more about his methods, would you mind PMing me?
  • #32,612
  • Aug 25, 2018 5:07pm Aug 25, 2018 5:07pm
Quoting relyt
{quote} Weird. If there’s anywhere besides the threads here (this one, HOLO, 1-2-3) and his YT channel that I can learn more about his methods, would you mind PMing me?
Yes there is. It will involve a flight across the galaxy. I will PM you with your boarding details.
  • #32,613
  • Aug 26, 2018 5:30am Aug 26, 2018 5:30am
London maybe closed but Lem's favourite will be trading actively.

Still going north with some interesting highs to attack.
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  • #32,614
  • Aug 26, 2018 6:18am Aug 26, 2018 6:18am
Quoting claudia1
London maybe closed but Lem's favourite will be trading actively. Still going north with some interesting highs to attack. {image}
I'm anticipating moves long, then consolidation, then long, then blah blah blah...a bit like a man with a limp running for a bus.

If it does decide to drop, it has huge downside potential and you have to be ready for that, it'll make your month if it goes.
  • #32,615
  • Edited 7:36am Aug 26, 2018 7:12am | Edited 7:36am
Quoting lemercenaire
{quote} I'm anticipating moves long, then consolidation, then long, then blah blah blah...a bit like a man with a limp running for a bus. If it does decide to drop, it has huge downside potential and you have to be ready for that, it'll make your month if it goes.
That's why I like the trend line - if it breaks ... but then it does what it wants anyway. Bounce off those highs would be perfect selling opportunity to me.

See more up short term to hit that resistance.

Play the break in the morning see where we go.

4h interesting. All clues are there (as Billy would say) just wait for the fun.

There's a plan. If it goes wrong we know who to blame.
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  • #32,616
  • Aug 26, 2018 1:35pm Aug 26, 2018 1:35pm
Quoting claudia1
{quote} That's why I like the trend line - if it breaks ... but then it does what it wants anyway. Bounce off those highs would be perfect selling opportunity to me. See more up short term to hit that resistance. Play the break in the morning see where we go. 4h interesting. All clues are there (as Billy would say) just wait for the fun. There's a plan. If it goes wrong we know who to blame. {image}
It's interesting that the return from the big Momo move didn't rebound all the way to the Z-Line (close - but no cigar) and price is now at that lower level. In normal circumstances, I would be looking at price trying to get to the higher level and then another drop, however the lower first touch messes with that and if price does go higher than that last spike, then if you ignore any Z-line influence, PA would suggest that price would then go on to another higher mark.

Your supporting trend-line could indeed be a key to seeing that and if you mod that to a Chuvashov Fork, then a move down that clears that will be a major turning point.

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  • #32,617
  • Aug 26, 2018 1:43pm Aug 26, 2018 1:43pm
Quoting lemercenaire
{quote} It's interesting that the return from the big Momo move didn't rebound all the way to the Z-Line (close - but no cigar) and price is now at that lower level. In normal circumstances, I would be looking at price trying to get to the higher level and then another drop, however the lower first touch messes with that and if price does go higher than that last spike, then if you ignore any Z-line influence, PA would suggest that price would then go on to another higher mark. Your supporting trend-line could indeed be a key to seeing that and...
This is what I am looking at...

The dotted horizontal lines are the levels-of-interest I used last week. Standing up well.

I've added a Chuvashov Fork.

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Wide view...

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  • #32,618
  • Aug 26, 2018 1:44pm Aug 26, 2018 1:44pm
Quoting lemercenaire
{quote} It's interesting that the return from the big Momo move didn't rebound all the way to the Z-Line (close - but no cigar) and price is now at that lower level. In normal circumstances, I would be looking at price trying to get to the higher level and then another drop, however the lower first touch messes with that and if price does go higher than that last spike, then if you ignore any Z-line influence, PA would suggest that price would then go on to another higher mark. Your supporting trend-line could indeed be a key to seeing that and...
Never mind that how about this.

Save me googling Peter Green pre Lindsay at Mac ?

Inserted Video
  • #32,619
  • Aug 26, 2018 1:50pm Aug 26, 2018 1:50pm
Either way - it's gonna do something and at some point will go big. As such, I feel this will prepare us well for the battle ahead...

Inserted Video
  • #32,620
  • Aug 26, 2018 1:51pm Aug 26, 2018 1:51pm
Quoting lemercenaire
{quote} It's interesting that the return from the big Momo move didn't rebound all the way to the Z-Line (close - but no cigar) and price is now at that lower level. In normal circumstances, I would be looking at price trying to get to the higher level and then another drop, however the lower first touch messes with that and if price does go higher than that last spike, then if you ignore any Z-line influence, PA would suggest that price would then go on to another higher mark. Your supporting trend-line could indeed be a key to seeing that and...
500 is the big area for this but that trend line will get attacked on the way. Maybe !?
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