Billytt Die happy trading e/j daily breakout | Page 1871 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #37,401
  • Jan 4, 2019 2:17am Jan 4, 2019 2:17am
t 08-15
Cable broke the 00-00 4 hour bar .
Hopefully it will retrace to break low and then we can chase the adr. of 127.
This is easier to do than chase the break off the first break.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,402
  • Jan 4, 2019 2:18am Jan 4, 2019 2:18am
t 08-18

Cable. lets see what the 08-00 15 minute bar does.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,403
  • Jan 4, 2019 2:39am Jan 4, 2019 2:39am
Quoting HappyMan
{quote} Sir Billy, Thank you for that. It gets confusing the where wick length comes in. What is the role of a wick length? Originally, we were talking about the importance of only two lines, High and Low. How does the wick length plug in? Happy New Year to all!
Originally i was trading the break of the E/J Daily Candle (Name of the Thread). ( I did show G/B FD Stats for example).

Example.....and we will use those G/U FD Stats i posted yesterday
If we TRADE THE DAILY BREAK AND IT THEN RETRACES WE HAVE THE FD STATS TO SAY WE WILL HAVE A GOOD PROBABILITY TO MAKE 5/10 PIPS.
IF IT DOES NOT RETRACE WE MAKE LOTS.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,404
  • Jan 4, 2019 2:46am Jan 4, 2019 2:46am
[quote=HappyMan;11844626]{quote} Sir Billy, Thank you for that. It gets confusing the where wick length comes in. What is the role of a wick length? Originally, we were talking about the importance of only two lines, High and Low. How does the wick length plug in? Happy New Year to all![/quot

Mr Happy,
I will always trade off stats knowing that i have a High probability of getting x amount of pips.
With the break of the 08-00 15 minute bar , I LIKE THIS BEST. AND I HAVE THE FD STATS TOO.
I probably just cursed todays break saying that lol.
t 08-45.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,405
  • Jan 4, 2019 2:50am Jan 4, 2019 2:50am
Quoting billytt
Mr Happy.. Frequency Distribution V Averages. Before i post, just look at the stats and do not question money management etc.... ( not you but anyone) lol. {image} Cable for the last 14 days. Example,,,, we are trading Cable Daily Break, and looking at wick length. they are as follows. 14 Trades,,,,, +29 +27 +2 +14 +80 +59 +3 +1+24 +13 +33 +2 +4 +16 THEY AVERAGE 22 we traded all 14 trades looking for 20 pip profit. HOW MANY WINNERS erm erm WE HAD 6 winners ( forget amount of pips) Frequency Distribution stats. 5 breaks under 5 pips & 9 breaks over...
mmm

ok, but what happens with retraces, sometimes those 20 pips-breaks retrace before reaching the 20 pips so... still don't see how that help us

edit. I read your answer above and now I see your point, but again, I have to check if there is an edge in the cases that the break retraces. how big are the probability of still getting +5?
  • #37,406
  • Jan 4, 2019 2:57am Jan 4, 2019 2:57am
Quoting billytt
{quote} Originally i was trading the break of the E/J Daily Candle (Name of the Thread). ( I did show G/B FD Stats for example). Example.....and we will use those G/U FD Stats i posted yesterday If we TRADE THE DAILY BREAK AND IT THEN RETRACES WE HAVE THE FD STATS TO SAY WE WILL HAVE A GOOD PROBABILITY TO MAKE 5/10 PIPS. IF IT DOES NOT RETRACE WE MAKE LOTS.
We normal traders need to put an initial sl though. No institution will let you trade like that from what I know. Unless you do not have tons of money to risk for yourself, any professional investors will cringe on the idea of counter, basically hedging etc.

If the sl would be 10 or so and target 15-20 and stats are in place it was a whole different story. Time to demo away ... lol ...

Don't want to spoil the fun, I know it is working for you, but it is risky for someone to believe they can just get on the train here without knowing what you know ... Have seen some people countering here for a while and they never came back. If from arabian countries, they could also let me manage it, at least I will not lose it lol ... Just kidding, then again not really ...
Fix up, trade sharp ...
  • #37,407
  • Jan 4, 2019 2:59am Jan 4, 2019 2:59am
Quoting DavidRP
{quote} mmm ok, but what happens with retraces, sometimes those 20 pips-breaks retrace before reaching the 20 pips so... still don't see how that help us
Hi Davidrp,
As i have said many times we can trade the break, or/and trade the retrace for extra points.
At times it does retrace before going positive.
I have FD Stats for it.
we trade off the Daily and if/when it goes tits up we have the 00-00 & 04-00 hour candle FD stats to work on.
A counter will come in.
I prefer the 08-00 15 minute bar break though.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,408
  • Jan 4, 2019 3:03am Jan 4, 2019 3:03am
Quoting Hickson
{quote} We normal traders need to put an initial sl though. No institution will let you trade like that from what I know. Unless you do not have tons of money to risk for yourself, any professional investors will cringe on the idea of counter, basically hedging etc. If the sl would be 10 or so and target 15-20 and stats are in place it was a whole different story. Time to demo away ... lol ... Don't want to spoil the fun, I know it is working for you, but it is risky for someone to believe they can just get on the train here without knowing what...
countering works, end of.
i have 2 close friends running companies and they counter.
One can actually be described as a colleague.
use a stop by all means.
Clue, what if you are using 2 brokers?????
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,409
  • Jan 4, 2019 3:05am Jan 4, 2019 3:05am
t 09-05
Cable ... 08-00 15 minute bar break. +5 made.
Attached Image



edit.... That little blue line was drawn over the wrong bar lol, we made 5
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,410
  • Jan 4, 2019 3:14am Jan 4, 2019 3:14am
Made pips here too..nice one
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2019-01-04-17-12-59.png Size: 109 KB
Onwards and upwards...
  • #37,411
  • Jan 4, 2019 3:23am Jan 4, 2019 3:23am
Quoting billytt
{quote} countering works, end of. i have 2 close friends running companies and they counter. One can actually be described as a colleague. use a stop by all means. Clue, what if you are using 2 brokers?????
I have to say,,,Great stuff Mr B, F.D. STATS, what to look for etc etc it is all in this Wonderful Thread, you have done the leg work, and you continue to help traders and share your experience and knowledge you are an inspiration, I know I have said this before hey ho no apologies, I say it again, your a Gent. Take care Bud
  • #37,412
  • Jan 4, 2019 3:30am Jan 4, 2019 3:30am
Quoting billytt
{quote} countering works, end of. i have 2 close friends running companies and they counter. One can actually be described as a colleague. use a stop by all means. Clue, what if you are using 2 brokers?????
Of course you can, just saying if you are doing that in a prop firm, they will sort you normally. I am not even allowed to put on an order without a sl or one will be sorted. Of course there are hedge funds working differently or if they know you personally. You sell the strategy for 30 k and it is fine because it is yours. All I am saying ist you cannot just come in here and think you will print money by copying ( I never thought so by the way but saw a lot). But it is all good because it gives nice ideas.
Fix up, trade sharp ...
  • #37,413
  • Jan 4, 2019 3:38am Jan 4, 2019 3:38am
Quoting Pipradar
{quote} I have to say,,,Great stuff Mr B, F.D. STATS, what to look for etc etc it is all in this Wonderful Thread, you have done the leg work, and you continue to help traders and share your experience and knowledge you are an inspiration, I know I have said this before hey ho no apologies, I say it again, your a Gent. Take care Bud
agreed, FD stats are used extensively throughout all walks of life from social life to battle field planning.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,414
  • Edited 4:29am Jan 4, 2019 3:39am | Edited 4:29am
Saying this nicely,,,,
Some Brokers love the stop loss because they know when they will get your money.....

i know 2 companies that do.
all legit and licensed.
we have some awesome traders in this thread, but i can tell you i see some of their trades and i think whoa! really?
that is because i trade differently and look at things in a different perspective.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,415
  • Jan 4, 2019 4:18am Jan 4, 2019 4:18am
Quoting billytt
Saying this nicely,,,, Some Brokers love the stop loss because they know when they will get your money.....
That is true with most bucket shops. But do you think they trade without sl at a prop firm like SMB for example? Choose your broker wisely of course ...
Fix up, trade sharp ...
  • #37,416
  • Jan 4, 2019 4:24am Jan 4, 2019 4:24am
t 10-20
adjusted Cable adr.
High still the same at 12743 and Low adjusted to 12568
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,417
  • Jan 4, 2019 5:17am Jan 4, 2019 5:17am
Quoting billytt
{quote} Originally i was trading the break of the E/J Daily Candle (Name of the Thread). ( I did show G/B FD Stats for example). Example.....and we will use those G/U FD Stats i posted yesterday If we TRADE THE DAILY BREAK AND IT THEN RETRACES WE HAVE THE FD STATS TO SAY WE WILL HAVE A GOOD PROBABILITY TO MAKE 5/10 PIPS. IF IT DOES NOT RETRACE WE MAKE LOTS.
This is golden. Saving for posterity.
Buy low, sell high.
  • #37,418
  • Jan 4, 2019 5:35am Jan 4, 2019 5:35am
This explanation i will have trouble with and i have to be careful what i say.

we hear about money management constantly AND SO WE SHOULD.

We hear that some of the gurus can have 5/6/7/ losses etc and then 1 win will reclaim all the lost pips. THAT TO IS GOOD.

IT IS THOSE 5/6/7 LOSSES I WOULD BE INTERESTED IN BECAUSE THEY ALL HAVE ? ,,,WHAT DO THEY ALL HAVE ????????
THEY ALL HAVE FREQUENCY DISTRIBUTION STATS WHICH CAN BE TRADED.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,419
  • Jan 4, 2019 7:35am Jan 4, 2019 7:35am
Quoting Hickson
{quote} We normal traders need to put an initial sl though. No institution will let you trade like that from what I know. Unless you do not have tons of money to risk for yourself, any professional investors will cringe on the idea of counter, basically hedging etc. If the sl would be 10 or so and target 15-20 and stats are in place it was a whole different story. Time to demo away ... lol ... Don't want to spoil the fun, I know it is working for you, but it is risky for someone to believe they can just get on the train here without knowing what...
It is obvious counter trading is not for you. For Billy and I it works. Probably the experience of that big money you mention. That's fair and the point is made.

I (and Billy) have always said that there must be many, many, practice months if looking to use countering in order to get the technique down pat. Not doing so will kill you faster than a fast moving killing thing...

Oh and two additional points wile we're here:

1: ''No institution will let you trade like that from what I know. Unless you do not have tons of money to risk for yourself, any professional investors will cringe on the idea of counter, basically hedging etc.''

This is so not true.

2: ''Have seen some people countering here for a while and they never came back''.

I can vouch for the fact that the traders who once were here and traded like this with us have not vanished but were instead ''abducted'' . Just 'coz they're not here, doesn't mean they're not here!

What is without doubt true however, is that the ESMA nonsense has made it much more difficult for the average retail trader to trade this way. They simply won't have the bank.
  • #37,420
  • Jan 4, 2019 7:37am Jan 4, 2019 7:37am
Quoting lemercenaire
{quote} It is obvious counter trading is not for you. For Billy and I it works. Probably the experience of that big money you mention. That's fair and the point is made. I (and Billy) have always said that there must be many, many, practice months if looking to use countering in order to get the technique down pat. Not doing so will kill you faster than a fast moving killing thing... Oh and two additional points wile we're here: 1: ''No institution will let you trade like that from what I know. Unless you do not have tons of money to risk for yourself,...
Thank you Lem...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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