Billytt Die happy trading e/j daily breakout | Page 1888 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #37,741
  • Jan 9, 2019 11:44pm Jan 9, 2019 11:44pm
[quote=HappyMan;11866127]{quote} That's an interesting exercise, Lem. What do you mean by "trading my way back"? Just waiting for the price to come back, counter-trade, something else?[/quote]

Getting my bank back into profit. Usually the most effective way is to use pullbacks in a trend / directional move and adding into a move going your way.

This evolved into practicing countering. Not in the actual first ''lock-in'' move but in the way that locked-in negative can be reduced before you even need to enter a second full trade.
  • #37,742
  • Jan 9, 2019 11:48pm Jan 9, 2019 11:48pm
Quoting billytt
Cable...# mini levels can be spotted by just looking at the 4 hour candles movement.
That's an interesting concept! Do you look at the levels of 00-00 H4 bars from the previous days?
Buy low, sell high.
  • #37,743
  • Jan 9, 2019 11:50pm Jan 9, 2019 11:50pm
Quoting Hickson
{quote} Maybe it works for some. But I believe it mostly trains bad habits like letting losers go against you. I can say that because in my early days my entries could be classified as blind and I did not use stops, only thing I could do was hoping for the best to avoid another margin call or work my way out somehow like you described ... it was hard to unwire this. Very hard. Since these days, not having a solid risk plan with exact scenarios that are understandable by a track record just makes me cringe. With the hard fact that most retail traders...
I think you're over-thinking it - taking it too seriously. It's just a game. Just another way of practicing getting to a target, just that instead of beginning from the figure ''x'' and having a target of ''x+whatever'', I make it more ''interesting'' by beginning at ''-x''.

Anyway, I think we've established you don't like countering, lol.
  • #37,744
  • Jan 9, 2019 11:54pm Jan 9, 2019 11:54pm
The Monster throws up some promise for today.

DAX H1 Chart

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Taking the larger move, you can see that price is running the 50. It has in fact broken below, which would usually mean we'll get a break to the downside.
  • #37,745
  • Jan 9, 2019 11:57pm Jan 9, 2019 11:57pm
Quoting lemercenaire
The Monster throws up some promise for today. DAX H1 Chart {image} Taking the larger move, you can see that price is running the 50. It has in fact broken below, which would usually mean we'll get a break to the downside.
Whether you'd class that as ''holding'' below is open for discussion, mind you. As I type, we are having another attempt to push it down.

Two ways to look at this. That we wait for a stronger push down and then play the rebound or we sit it out for now to see it this returns to the upside.
  • #37,746
  • Jan 10, 2019 12:01am Jan 10, 2019 12:01am
Quoting lemercenaire
{quote} Whether you'd class that as ''holding'' below is open for discussion, mind you. As I type, we are having another attempt to push it down. Two ways to look at this. That we wait for a stronger push down and then play the rebound or we sit it out for now to see it this returns to the upside.
However, bring a fib over to the latest move and we can see that you could claim that the drop move has already happened, so we would be looking for that push back up now and then we can get a rebound off that.

Attached Image
  • #37,747
  • Jan 10, 2019 12:02am Jan 10, 2019 12:02am
Quoting lemercenaire
{quote} I think you're over-thinking it - taking it too seriously. It's just a game. Just another way of practicing getting to a target, just that instead of beginning from the figure ''x'' and having a target of ''x+whatever'', I make it more ''interesting'' by beginning at ''-x''. Anyway, I think we've established you don't like countering, lol.
Sounds like a fun experiment for sure. Plus, if you get good at fixing trades, you're golden lol.
  • #37,748
  • Jan 10, 2019 12:03am Jan 10, 2019 12:03am
Quoting lemercenaire
{quote} However, bring a fib over to the latest move and we can see that you could claim that the drop move has already happened, so we would be looking for that push back up now and then we can get a rebound off that. {image}
...And here we go!

Attached Image (click to enlarge)
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  • #37,749
  • Jan 10, 2019 12:06am Jan 10, 2019 12:06am
Quoting lemercenaire
{quote} ...And here we go! {image}
Bazinga!

Perfect

+30

Attached Image
  • #37,750
  • Jan 10, 2019 12:07am Jan 10, 2019 12:07am
Quoting Hickson
{quote} Maybe it works for some. But I believe it mostly trains bad habits like letting losers go against you. I can say that because in my early days my entries could be classified as blind and I did not use stops, only thing I could do was hoping for the best to avoid another margin call or work my way out somehow like you described ... it was hard to unwire this. Very hard. Since these days, not having a solid risk plan with exact scenarios that are understandable by a track record just makes me cringe. With the hard fact that most retail traders...
It is right what you say H.
You know the saying Horses For Courses?

The way i trade and of course Lem, some people will never get their head around it..
i am not being disrespectful but a 100 years ago people scoffed at the idea of man being put into space and a few years earlier they didn't believe man could fly in planes.. BUT SOME PEOPLE DID.
Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,751
  • Jan 10, 2019 12:08am Jan 10, 2019 12:08am
Market's so super unsteady ... sold cable break of PP ... up 10, immediate spike to get the BE stop ... maybe should narrow the RR to 1:1 at these times lol ...
Fix up, trade sharp ...
  • #37,752
  • Jan 10, 2019 12:12am Jan 10, 2019 12:12am
M15 - Reverso galore ...
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Fix up, trade sharp ...
  • #37,753
  • Jan 10, 2019 12:12am Jan 10, 2019 12:12am
Quoting lemercenaire
{quote} Bazinga! Perfect +30 {image}
Now we've got a Z-Line at 10815.

Play the retrace and test of that.

Attached Image
  • #37,754
  • Jan 10, 2019 12:14am Jan 10, 2019 12:14am
Quoting lemercenaire
{quote} Well, this is weird - though I don't know why anything in this business surprises me any more, especially the differences between brokers. Anyway, because of these differences my comment earlier is rendered moot, as on my main broker chart I don't get a break and a fail South at all. Soooooooo...just for the hell of it, this is what I would have seen (here on H1 Chart)... AU 00:00 - 04:00 (H1 Chart) {image} On this, as my initial break was North, I would run a trailing fib from the box range low to the moving high. Here the first move retraced...
Thanks for the long post, will look into it in time ... FX pro might be tossed out of the window soon, I have had enough of their quotes and 1 pip stop outs where support said it was "due to spread widening" ... never had problems like that on my other platform ...
Fix up, trade sharp ...
  • #37,755
  • Jan 10, 2019 12:16am Jan 10, 2019 12:16am
Quoting lemercenaire
{quote} Now we've got a Z-Line at 10815. Play the retrace and test of that. {image}
Up it's gone. Could have played the retrace on the way up - I didn't.

Look for the possible rebound back down off it.
  • #37,756
  • Jan 10, 2019 12:23am Jan 10, 2019 12:23am
t 08-20
Cable,,,, 08-00 15 min break.
High broke then retraced , at this moment we are at -10.
we can enter a long and if it fails we will not lose as much. potentially making 15 points or just the 5.
Lets see.....
i still want down though.
I am still not trading but am in contaqt with traders


edit... i said -10 it was actually -8
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37,757
  • Jan 10, 2019 12:27am Jan 10, 2019 12:27am
[quote=lemercenaire;11867003]{quote} Up it's gone. Could have played the retrace on the way up - I didn't. Look for the possible rebound back down off it.[/quote]

Got that.

Took it as a double-dip on the way back down...

Attached Image


Out. +13.5 +1 (Basically a scratch trade - I just waited till it went green and closed it)

Attached Image


All-in-all, not a bad half-hour's work.
  • #37,758
  • Jan 10, 2019 12:28am Jan 10, 2019 12:28am
Quoting billytt
t 08-20 Cable,,,, 08-00 15 min break. High broke then retraced , at this moment we are at -10. we can enter a long and if it fails we will not lose as much. potentially making 15 points or just the 5. Lets see..... i still want down though. I am still not trading but am in contaqt with traders edit... i said -10 it was actually -8
A buffer + 2 like Claudia suggests would have spared us the losing position and waiting for a more decisive move. Maybe it is an idea? Worst case we take the minus ten, then wait for further clues ...
Fix up, trade sharp ...
  • #37,759
  • Jan 10, 2019 12:32am Jan 10, 2019 12:32am
That's the activity done for now. Just a small swish or three of The Monster's tail to keep us happy.

Price has retreated back to the Z-Line and I'd step back to see if it decides to do something with a bit of weight behind it now.

You could of course have dropped down to the pointy end and played all this now as micro-scalps but I just stayed relaxed and ran the show from the H1 today. We are, after all, trading price, which is as we know, the same on all time-frames

Time for a brew.

Trade well, all.
  • #37,760
  • Jan 10, 2019 12:33am Jan 10, 2019 12:33am
Quoting Hickson
{quote} A buffer + 2 like Claudia suggests would have spared us the losing position and waiting for a more decisive move. Maybe it is an idea? Worst case we take the minus ten, then wait for further clues ...
nah, thats 40% of my 5 points.
with a candle closing then opening at almost the same price it can be dodgy .
i would never ever of had a big trade on it.
At the moment 08-33 it has not failed, but if it does, hey ho we trade it good.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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