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Billytt Die happy trading e/j daily breakout

  • #37,701
  • Jan 9, 2019 4:39am Jan 9, 2019 4:39am
Brexit vote - already been moved a day on to Tuesday.

There has to be a big move on GU at some point. How do we catch it ?

Plan at this point is to put stop orders in at London close Friday say 100 away from market with 300 t/p and 100 s/l.

Open to any ideas.
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  • #37,702
  • Jan 9, 2019 4:40am Jan 9, 2019 4:40am
Quoting Hickson
{quote} I am already reading it mate, saw your thread and some funny post was made already by some guru lol ... HOLO is interesting, did not figure out yet what is a typical sl and target yet on average ... I do not really like chasing 5 pips, commissions and spreads to high in my opinion to take the risk, then again it might be personal preference. If I might figure out you can go for 15-20 on average, it is more for me.
Hi folks.

Not at home this morning, so no percents for me - looks like Pips has bagged them all anyway! Sweetly done, P, sweetly done.

@ Happy. HOLO and 1-2-3 are certainly not forbidden, I have discussed trade set ups here in the past, though usually simply as a pointer to what I may be looking at at any given time. I usually don't post the charts but will say that one has been posted in the relevant thread for those who are interested.

@H. I feel you would not take to HOLO, precisely for the reasons you give. Too many of the things you don't like in trading. However, 1-2-3 would be a real option - you can set your tp as much as you want. Most of us move between closing a percentage and letting the rest run or moving to BE+1 and letting the full amount run.

Another option based on the lower time frame (m15) would be the daddy of all these methods, the base concept behind them all, would be the original RAT set-up. I won't post a link to The Head directly but this is a great breakdown if you aren't sure what a RAT is. Our friend in the sky is mentioned by given name in the article.

http://www.forex-central.net/rat-rev...g-strategy.php

Really frosty here - and dog and I have just about warmed up to operating temperature again! No harm in helping that process along by having a second cuppa though. Back for more reading and catch up in a mo.
  • #37,703
  • Jan 9, 2019 4:50am Jan 9, 2019 4:50am
Quoting Hickson
{quote} I have a less stressful idea for humble people who are happy with some green pips: Skip the first break, wait for the retrace (if it happens), then put in a sl and chase a 3:1 RR or so. Do you think it might work and is worth a test?
We have a now occasional visitor named Bo (Bojack) who fell in love with the AU set-up but as he lived in the US he couldn't run the counter easily (didn't really want to use two brokers) and he ran major data crunching for a good length of time and saw what worked - letting the first move fail and then trading the opposite break, chasing the ADR. Just as you say.

If you are thinking of this kind of thing and wanted to save time, then I would suggest using his legwork to save your own and use the AU 04:00 set-up this way. It's golden.

Oh and there is a twist to this - in that he had been running my Dead Zone as well and so having had a taste of WZ moves, he also mixed in an early entry with a Wick Zone trade if the range was big enough. Keeping a tight rein on it and taking what he got...+1, +2, +3 or whatever was fine, it was just an extra. If it ran on into the full retrace, then it was a major dod of jam on top.
  • #37,704
  • Jan 9, 2019 5:02am Jan 9, 2019 5:02am
Cable support held for now, I shorted 28 ish ... looked good already up 1 R, but then spiked. Had nothing better than to escape with + 1 to reduce risk. Lots of trades like these atm. October was fun.
Fix up, trade sharp ...
  • #37,705
  • Jan 9, 2019 5:05am Jan 9, 2019 5:05am
Quoting Hickson
Cable support held for now, I shorted 28 ish ... looked good already up 1 R, but then spiked. Had nothing better than to escape with + 1 to reduce risk. Lots of trades like these atm. October was fun.
Yesterday's low ? Thought it was going north just watching and being patient. Wait for NY now. Difficult market.
  • #37,706
  • Jan 9, 2019 5:06am Jan 9, 2019 5:06am
Quoting Hickson
Cable support held for now, I shorted 28 ish ... looked good already up 1 R, but then spiked. Had nothing better than to escape with + 1 to reduce risk. Lots of trades like these atm. October was fun.
Cable is teasing you. It will go.....
Claudia had a qood idea with earlier post
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,707
  • Jan 9, 2019 5:14am Jan 9, 2019 5:14am
Quoting claudia1
{quote} Yesterday's low ? Thought it was going north just watching and being patient. Wait for NY now. Difficult market.
Yes, that was my target. Almost got there, final push it normally does is missing in these markets. Was up 9 at best, so not risking more than the BE at that point. Makes no sense to keep the full sl at - 10 because that would be risking 2 R in my book.
Fix up, trade sharp ...
  • #37,708
  • Jan 9, 2019 5:15am Jan 9, 2019 5:15am
Quoting lemercenaire
{quote} We have a now occasional visitor named Bo (Bojack) who fell in love with the AU set-up but as he lived in the US he couldn't run the counter easily (didn't really want to use two brokers) and he ran major data crunching for a good length of time and saw what worked - letting the first move fail and then trading the opposite break, chasing the ADR. Just as you say. If you are thinking of this kind of thing and wanted to save time, then I would suggest using his legwork to save your own and use the AU 04:00 set-up this way. It's golden. Oh...
You gave me a load of homework ... thanks for the input, but be warned, I could ask many questions lol ...
Fix up, trade sharp ...
  • #37,709
  • Jan 9, 2019 5:21am Jan 9, 2019 5:21am
Quoting claudia1
Brexit vote - already been moved a day on to Tuesday. There has to be a big move on GU at some point. How do we catch it ? Plan at this point is to put stop orders in at London close Friday say 100 away from market with 300 t/p and 100 s/l. Open to any ideas. {image}
Just read elsewhere (I know, I know...) someone wondering if maybe the moves on GBP had anything to do with the Brexit news. Truly, consider my mind boggled, lol.
  • #37,710
  • Jan 9, 2019 5:32am Jan 9, 2019 5:32am
AUDUSD might really work well because ... it is the king of choppiness! LOL!
Fix up, trade sharp ...
  • #37,711
  • Jan 9, 2019 5:38am Jan 9, 2019 5:38am
Quoting lemercenaire
{quote} We have a now occasional visitor named Bo (Bojack) ...
Here is what the setup would look like with 2 as a buffer. We would have to discuss the sl. Logically it could be the lower end of the bar as in the picture. It already broke and reversed. Then a target would have to be the ADR, but gotta read back how to set that.
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Fix up, trade sharp ...
  • #37,712
  • Jan 9, 2019 6:05am Jan 9, 2019 6:05am
Cable,,,, adr adjusted range at 12-00 noon

high = 12867 & Low 12626.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,713
  • Jan 9, 2019 6:06am Jan 9, 2019 6:06am
Quoting Hickson
AUDUSD might really work well because ... it is the king of choppiness! LOL!
I used to love trading A/U off the 04-00 4 hour bar.
nice and steady most iof the time
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,714
  • Jan 9, 2019 7:17am Jan 9, 2019 7:17am
Quoting Hickson
{quote} Here is what the setup would look like with 2 as a buffer. We would have to discuss the sl. Logically it could be the lower end of the bar as in the picture. It already broke and reversed. Then a target would have to be the ADR, but gotta read back how to set that. {image}
The way I trade now, I would also say that adding a fib onto that would give you a grand idea of what point your retrace would start at should you get that fail.
  • #37,715
  • Jan 9, 2019 7:34am Jan 9, 2019 7:34am
Quoting lemercenaire
{quote} The way I trade now, I would also say that adding a fib onto that would give you a grand idea of what point your retrace would start at should you get that fail.
Not sure what you mean ... is it not just the one side of the range breaking, then waiting for the other one?
Fix up, trade sharp ...
  • #37,716
  • Jan 9, 2019 8:21am Jan 9, 2019 8:21am
we have Carney speaking shortly.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,717
  • Jan 9, 2019 8:39am Jan 9, 2019 8:39am
Quoting claudia1
{quote} I have to ask therefore - what colour is the new car ?
Magnetic -sort of dark charcoal grey.
every Saint has a past. Every Sinner has a Future
  • #37,718
  • Jan 9, 2019 8:39am Jan 9, 2019 8:39am
Someone farted while I was half asleep at my desk ... lol, good I did not short Cable or EU because I will wait for FOMC to move the market first ... hopefully ...
Fix up, trade sharp ...
  • #37,719
  • Jan 9, 2019 9:07am Jan 9, 2019 9:07am
That could be fun chasing ADR on Aussie ...
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Fix up, trade sharp ...
  • #37,720
  • Jan 9, 2019 9:08am Jan 9, 2019 9:08am
Some thoughts for H4 trading... (We hedge if we go to -10)

(M15) The idea is waiting always for the first breakout, that in a lot of cases is fake. How to manage the trade is up to you: we could just take +5 and leave, or we could use a trailing stop, or closing half after X pips, placing the SL to BE and let the market do the rest
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