Billytt Die happy trading e/j daily breakout | Page 1819 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #36,361
  • Nov 26, 2018 2:57pm Nov 26, 2018 2:57pm
Quoting Hickson
{quote} That is interesting. Because then Claudia's or my PP trading would not work. I do not have enough sample yet though. Will report once I pass the 100 trades which should be enough in a live market.
Hi, you have a point,
I don't want to back track or contradict myself but i would need a mountain of stats to trade with a small stop.lol
i don't want to speak risk/reward as i didn't trade that way.
Maybe if you use an ea and have multi entries it would be possible.. and at the end of the day it boils down to trading style.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,362
  • Nov 26, 2018 3:42pm Nov 26, 2018 3:42pm
Quoting billytt
{quote} Hi, you have a point, I don't want to back track or contradict myself but i would need a mountain of stats to trade with a small stop.lol i don't want to speak risk/reward as i didn't trade that way. Maybe if you use an ea and have multi entries it would be possible.. and at the end of the day it boils down to trading style.
Hi Billy, it is true, a matter of style. But to be honest, I have never seen a professional not considering the RR and put in hard stops because it can easily come the day where in a few moments it goes 100-200 pips against you with high leverage and then ... not so nice. You will not even have the time to counter that. Or imagine a connection issue, electricity not working etc. It happened to me a few times as a beginner and luckily I was sensible enough to start very small accounts. There is simply nothing that ensures you to avoid an accident like that without stops. And no fund will support you with any money that way as well.

It can work for some time though if variance shows its good side and/or the trader does not really care about the money, making trading much easier. Tough to say. If it did not work going for about 20 to 30 pips with SL around 10, I will post. Not enough data yet. If it does not work, will widen SL and target and go again. Tried simulators before, but the strategies tested there usually do not consistently make money, so I found that to be a bit of a waste of time. Trading is easy, if you are disciplined, but it is difficult to find out what it is for a long enough period to make you a fortune.
Fix up, trade sharp ...
  • #36,363
  • Nov 26, 2018 7:41pm Nov 26, 2018 7:41pm
Quoting billytt
{quote} Happy, before i go. i wasn't being rude regarding the small stop loss. it does work but not constantly. Trade well
That was far from being rude. I am thoroughly enjoying this conversation. Stop loss is something I am trying to get my mind around. It is easy to see the need in a bigger stop loss when necessary. Trying to avoid using a mechanic one-fits-all kind of stop loss and trying to figure out a guiding principle.
Buy low, sell high.
  • #36,364
  • Nov 27, 2018 12:38am Nov 27, 2018 12:38am
06-35 here. lol
Guess what!
Today i am erecting decking for a client of my gf lol.
it seems i was boasting about doing it so Hey Presto,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,365
  • Nov 27, 2018 12:48am Nov 27, 2018 12:48am
Quoting Hickson
{quote} Hi Billy, it is true, a matter of style. But to be honest, I have never seen a professional not considering the RR and put in hard stops because it can easily come the day where in a few moments it goes 100-200 pips against you with high leverage and then ... not so nice. You will not even have the time to counter that. Or imagine a connection issue, electricity not working etc. It happened to me a few times as a beginner and luckily I was sensible enough to start very small accounts. There is simply nothing that ensures you to avoid an...
I agree with you entirely..
i am having difficulty explaining .
i posted in the other thread only yesterday,
Someone spoke of (False Breakout) i honestly do not believe in them as MOVEMENT IS MOVEMENT. i only needed 5 points...
RR is another i cannot explain as i traded solely off stats knowing i would get winners.
We are taught to have a RR of 1/2 ,,,1/3,,, 1/4 etc I COULD NEVER DO THAT lol.
I am sure you are trading right as it is your style and no doubt you will succeed.
Trade well Bud.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,366
  • Nov 27, 2018 12:51am Nov 27, 2018 12:51am
Quoting HappyMan
{quote} That was far from being rude. I am thoroughly enjoying this conversation. Stop loss is something I am trying to get my mind around. It is easy to see the need in a bigger stop loss when necessary. Trying to avoid using a mechanic one-fits-all kind of stop loss and trying to figure out a guiding principle.
As pointed out many times..
i traded without a stop loss and countered.....
To be honest this is no better than having a stop loss.
It suited my style plus it is easier to programme my Pc bot to trade automatically...
i am not the brightest using Pc's especially programming lol But i know people who are yaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,367
  • Nov 27, 2018 6:10am Nov 27, 2018 6:10am
Quoting billytt
{quote} As pointed out many times.. i traded without a stop loss and countered..... To be honest this is no better than having a stop loss. It suited my style plus it is easier to programme my Pc bot to trade automatically... i am not the brightest using Pc's especially programming lol But i know people who are yaaaaaaaay
Here is an example of what we talked about earlier. Playing off 15M opening bar (#1). TP: 1 point (4 ticks); SL: 2 points. The next bar (#2) went down only 2 ticks and got to the stop loss. The following bar (#3) went in the opposite direction over twenty points. Everything is happening in the upper wick zone of the prev day. The price bounced off without even touching the previous open.

Thinking out loud. As one sets a stop loss or counters a trade, should one consider the middle point and candle pivot, additionally to open/close, as important points and hide SL behind them?
Attached Image (click to enlarge)
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Buy low, sell high.
  • #36,368
  • Nov 27, 2018 7:45am Nov 27, 2018 7:45am
Back, brrrrrrrrrrrrrrrrrr
i managed to bed the uprights and base boards then got rained off.
gf went working on a garden and is now buying cake mmmmmmmmmmmmmmmm
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,369
  • Nov 27, 2018 8:06am Nov 27, 2018 8:06am
Quoting HappyMan
{quote} Here is an example of what we talked about earlier. Playing off 15M opening bar (#1). TP: 1 point (4 ticks); SL: 2 points. The next bar (#2) went down only 2 ticks and got to the stop loss. The following bar (#3) went in the opposite direction over twenty points. Everything is happening in the upper wick zone of the prev day. The price bounced off without even touching the previous open. Thinking out loud. As one sets a stop loss or counters a trade, should one consider the middle point and candle pivot, additionally to open/close, as important...
hi,
looking at your chart ,i do not know which pair it is.But that is irrelevant i suppose.
i traded like this ..
example, G/U i had the 15 minute candle at 08-00 uk time ,UK open.
It closed at 08-15 with a High and a Low.
If the High broke i went long or if the Low broke i went short.
NOTHING ELSE MATTERED ...no wick zones etc i traded the break.
You need a volatile pair and G/U is excellent, especially following Brexit...

THAT WAS THE EASY PART. lol..
we then had odds/percentages/frequency distribution .
we may be near a 00 or daily /4 hour bar inside bar break etc.
So this could be a good reason to stay away from the trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,370
  • Nov 27, 2018 8:10am Nov 27, 2018 8:10am
Quoting HappyMan
{quote} Here is an example of what we talked about earlier. Playing off 15M opening bar (#1). TP: 1 point (4 ticks); SL: 2 points. The next bar (#2) went down only 2 ticks and got to the stop loss. The following bar (#3) went in the opposite direction over twenty points. Everything is happening in the upper wick zone of the prev day. The price bounced off without even touching the previous open. Thinking out loud. As one sets a stop loss or counters a trade, should one consider the middle point and candle pivot, additionally to open/close, as important...
sometimes and it did happen, we had (example) a High Break and then a retrace to break Low, so i would counter and then it is a different game to play with different stats. so i had 2 trades running and yes it could then reverse again but normally i stuck to 2 trades running but i have had severaql in the past and that is a different story.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,371
  • Nov 27, 2018 8:24am Nov 27, 2018 8:24am
Quoting billytt
{quote} hi, looking at your chart ,i do not know which pair it is.But that is irrelevant i suppose. i traded like this .. example, G/U i had the 15 minute candle at 08-00 uk time ,UK open. It closed at 08-15 with a High and a Low. If the High broke i went long or if the Low broke i went short. NOTHING ELSE MATTERED ...no wick zones etc i traded the break. You need a volatile pair and G/U is excellent, especially following Brexit... THAT WAS THE EASY PART. lol.. we then had odds/percentages/frequency distribution . we may be near a 00 or daily /4...
so today at 8.15am GMT you put in a order for 1.27337 to short with a TP for 5 pips with each pip being 1% of your account and a order at 1.27584 to go long with a 5 pip TP ?
  • #36,372
  • Nov 27, 2018 8:26am Nov 27, 2018 8:26am
Quoting Ross88
{quote} so today at 8.15am GMT you put in a order for 1.27337 to short with a TP for 5 pips with each pip being 1% of your account and a order at 1.27584 to go long with a 5 pip TP ?
Hi, give me a few minutes and i will look at a chart....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,373
  • Nov 27, 2018 8:30am Nov 27, 2018 8:30am
Quoting Ross88
{quote} so today at 8.15am GMT you put in a order for 1.27337 to short with a TP for 5 pips with each pip being 1% of your account and a order at 1.27584 to go long with a 5 pip TP ?
Hi again.
IF i had been Trading i would of had a long at 12758 and a short at 127337. #
The short DID NOT TRIGGER but the Long did. the Long would of made +5.
i saw the 08-00 bar and it looked like G/U would drop.
IT'S NO GOOD THINKING , TRADE BREAKS.
trade well

edit, and yes i pip was 1% of my 1st trade balance
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,374
  • Nov 27, 2018 8:34am Nov 27, 2018 8:34am
Quoting billytt
{quote} hi, looking at your chart ,i do not know which pair it is.But that is irrelevant i suppose. i traded like this .. example, G/U i had the 15 minute candle at 08-00 uk time ,UK open. It closed at 08-15 with a High and a Low. If the High broke i went long or if the Low broke i went short. NOTHING ELSE MATTERED ...no wick zones etc i traded the break. You need a volatile pair and G/U is excellent, especially following Brexit... THAT WAS THE EASY PART. lol.. we then had odds/percentages/frequency distribution . we may be near a 00 or daily /4...
Hello,

That was /ES (SP500), London open. Thank you for sharing the stop-list (00, daily or 4H inside bar break). This is new to me. Delighted to learn from a pro like you!
Buy low, sell high.
  • #36,375
  • Nov 27, 2018 8:36am Nov 27, 2018 8:36am
Quoting billytt
{quote} sometimes and it did happen, we had (example) a High Break and then a retrace to break Low, so i would counter and then it is a different game to play with different stats. so i had 2 trades running and yes it could then reverse again but normally i stuck to 2 trades running but i have had severaql in the past and that is a different story.
To reiterate, the maximum loss, in that case, is the length of the 15min bar?
Buy low, sell high.
  • #36,376
  • Nov 27, 2018 8:56am Nov 27, 2018 8:56am
Quoting HappyMan
{quote} To reiterate, the maximum loss, in that case, is the length of the 15min bar?
yes, and we may be minus 15 for example and we then trade until the minus is cleared.
It might take a few minutes,hours or days.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,377
  • Nov 27, 2018 9:00am Nov 27, 2018 9:00am
Quoting billytt
{quote} yes, and we may be minus 15 for example and we then trade until the minus is cleared. It might take a few minutes,hours or days.
Grateful for your wisdom! Another question. How often do you find yourself taking trades off both ends, i.e., taking one, finishing it, and entering again on the other end? What influences your decision to enter a trade on the other end?
Buy low, sell high.
  • #36,378
  • Nov 27, 2018 9:07am Nov 27, 2018 9:07am
Quoting billytt
{quote} Hi again. IF i had been Trading i would of had a long at 12758 and a short at 127337. # The short DID NOT TRIGGER but the Long did. the Long would of made +5. i saw the 08-00 bar and it looked like G/U would drop. IT'S NO GOOD THINKING , TRADE BREAKS. trade well edit, and yes i pip was 1% of my 1st trade balance
Attached Image


i know you do not put in a SL so what is your exit strategy?? i believe it has something to do with a 4 hour bar i hope you do not mind elaborating further for me

when you was trading yourself how much of your allocated trading money in % did you have in the account for this strategy

do you think a exit strategy/SL of 50% of the account would work but the account only makes up 10% of all your allocated trading money so really your risking 5% of total trading money so the 5%/5 pip win is in reality 0.5% of your total trading money so technically once you have won 10 trades in a row you are at a break even???

i'm i right in thinking this is a kamikaze style of trading you know in a full year of trading that you will blow multiple accounts but it's part of the plan so you have to manage your money accordingly???
  • #36,379
  • Nov 27, 2018 9:10am Nov 27, 2018 9:10am
Quoting HappyMan
{quote} Grateful for your wisdom! Another question. How often do you find yourself taking trades off both ends, i.e., taking one, finishing it, and entering again on the other end? What influences your decision to enter a trade on the other end?
My main trade Pc is currently defunct (it holds stats).
i did have multi trades running but not weekly and i cannot be more precise, sorry. (it is easy to put a chart up and look)
Just before i stopped trading sometimes i would only trade G/U short and not Long.
it is preference, sometimes i might have a 00 or even a level approach and we may get retrace,
So it was better to keep away.
IF IN DOUBT STAY OUT....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #36,380
  • Nov 27, 2018 9:25am Nov 27, 2018 9:25am
Quoting Ross88
{quote} {image} i know you do not put in a SL so what is your exit strategy?? i believe it has something to do with a 4 hour bar i hope you do not mind elaborating further for me when you was trading yourself how much of your allocated trading money in % did you have in the account for this strategy do you think a exit strategy/SL of 50% of the account would work but the account only makes up 10% of all your allocated trading money so really your risking 5% of total trading money so the 5%/5 pip win is in reality 0.5% of your total trading money...
Hi,
originally when i came back in here i had 1k and i was making £50 per day. this paid some bills and gave me something to talk about in thread.
I also had a second bank roll, and this is the main one... Long story how it operated.
Your question is confusing me regarding %%, break even etc.
I never blew any account trading this way.
I have lost a lot of money in the past many years ago. £30K 3 times. ( not trading this way)
several months ago my gf gave me 117K to trade with and i made her 70K +.
It is all about numbers, percentages and odds aqnd the muscle to keep trades running.
If you do not trade you do not lose, i made my money then got out, bought property..
Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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