Billytt Die happy trading e/j daily breakout | Page 1926 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #38,501
  • Jan 18, 2019 3:27pm Jan 18, 2019 3:27pm
i cannot find the post but from next Monday i will post 00-00 4 hour bar chart for cable and US Crude, NOT E/U
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,502
  • Jan 18, 2019 4:21pm Jan 18, 2019 4:21pm
Quoting Hickson
Wonder if our friend inception is still trading the Frankenbreak ... It looks so appealing, but when it goes wrong it can easily become a nightmare. My best guess atm is a 1:1 RR and bet on the high winrate. Not enough trades yet though. And boy is it early sometimes ...
It always worked for me but yeah, I ended up preferring the extra hour or so in bed.
  • #38,503
  • Jan 18, 2019 4:23pm Jan 18, 2019 4:23pm
Quoting lemercenaire
{quote} It always worked for me but yeah, I ended up preferring the extra hour or so in bed.
Hi Lem

i'm working on your tip about the 50% retracement of each big leg ..... its working very often ... thanks mate ..
trying to make everyday the best risk/reward decisions possible
  • #38,504
  • Jan 18, 2019 11:54pm Jan 18, 2019 11:54pm
Quoting billytt
{quote} Nice one F, don't forget Demo is slightly different from live.....
Thanks! If I ever go live I thought about max 0.50 Lots for every trade. Just trying to find out if I feel better to fade into a trade using 0.10 parts instead of going in with the full amount at once.
  • #38,505
  • Jan 19, 2019 12:08am Jan 19, 2019 12:08am
Quoting lemercenaire
{quote} You are. Check out AU 00:00 - 04:00 uk bar.
Please Help! Where are the 00:00 - 04:00 GMT bar rules buried under those 38.500 post?
  • #38,506
  • Jan 19, 2019 1:15am Jan 19, 2019 1:15am
Quoting lemercenaire
{quote} It always worked for me but yeah, I ended up preferring the extra hour or so in bed.
Extra hour or extra 200 bucks is the question ... It is more than most people make a day in a heavy duty working job ...
Fix up, trade sharp ...
  • #38,507
  • Jan 19, 2019 2:25am Jan 19, 2019 2:25am
Quoting ForeXhell
{quote} Thanks! If I ever go live I thought about max 0.50 Lots for every trade. Just trying to find out if I feel better to fade into a trade using 0.10 parts instead of going in with the full amount at once.
Hi, That is a good idea.
I personally would stick to small lots until you get confident and see how forex works. ie , things happen which you do not expect or in theory shouldn't happen.
ALSO, do not look on small lots as a few $$$, it doesn't matter if you lose. IT DOES MATTER.
Play a small lot as if it is a big lot... and look at percentage %%% you make.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,508
  • Jan 19, 2019 2:35am Jan 19, 2019 2:35am
Quoting ForeXhell
{quote} Please Help! Where are the 00:00 - 04:00 GMT bar rules buried under those 38.500 post?
hi. i actually should not of spoken about 00-00 4 hour bar as that is a fixer bar looking for the adr ( average daily range).

we have the 00-00 4 hour bar, with a High & Low, we also have calculated average of the previous 5 days daily ranges.
adr calculated over previous 5 days is example. 100+150++100+150+180 =680 divide by 5 =136. so adr is 136.

Once the 00-00 bar high/low is broken it might keep moving to make the adr (might) we do not really know.
BUT if it breaks then retraces to break the opposite end high/low we now have more idea where it will go ie then make the adr .

post getting too long, ask questions and i/we will keep answering.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,509
  • Jan 19, 2019 2:37am Jan 19, 2019 2:37am
Quoting Hickson
{quote} Extra hour or extra 200 bucks is the question ... It is more than most people make a day in a heavy duty working job ...
Ho, one of the reasons i didnt keep trading the 00-00 4 hour bar is due to me sleeping.
I am awake quite a lot and i found out trading the 04-00 4 bar break was a lot easier plus i slept.
IF i were fixing a bad trade i would be up to trade off the 00-00 4 bar.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,510
  • Jan 19, 2019 2:49am Jan 19, 2019 2:49am
Quoting ForeXhell
{quote} Please Help! Where are the 00:00 - 04:00 GMT bar rules buried under those 38.500 post?

Chart A. 00-00 4 hour bar low broke, this instance it kept going.
Originally we did not know how far??????? but it almost made the adr.
Attached Image


Chart B. 00-00 4 hour bar,
The low broke , we did not know to where it would go BUT IT RETRACED TO BREAK HIGH. and carried on to make the adr. this is easier to trade.
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,511
  • Edited 3:20am Jan 19, 2019 2:59am | Edited 3:20am
Quoting billytt
{quote} Ho, one of the reasons i didnt keep trading the 00-00 4 hour bar is due to me sleeping. I am awake quite a lot and i found out trading the 04-00 4 bar break was a lot easier plus i slept. IF i were fixing a bad trade i would be up to trade off the 00-00 4 bar.
Yes, but the Frankenbreak on EG is a total different story. It could be a one and done in the morning, no sticks, no strings, no counter, take the loss here and there and rely on the winrate.
Fix up, trade sharp ...
  • #38,512
  • Jan 19, 2019 3:08am Jan 19, 2019 3:08am
[quote=slowbrain;11902520]{quote} Hi Lem i'm working on your tip about the 50% retracement of each big leg ..... its working very often ... thanks mate ..[/quote]

Grand. Fibs are sneered at by many so-called experts (usually because they are trying to sell you some high-priced nonsense) but you have to remember one thing: fibs work because traders believe they work. They are a self-fulfilling prophecy.

They also happen to tie into the pros as they make use of the Z-Line to clean out the unwary, so that doubles their power.
  • #38,513
  • Jan 19, 2019 3:11am Jan 19, 2019 3:11am
Quoting Hickson
{quote} Extra hour or extra 200 bucks is the question ... It is more than most people make a day in a heavy duty working job ...
Oh I get it, that's why I used to run it, it was a fantastic way to set you up for the day - however as well as the extra hour in bed, it also overlaps my DAX play and the DAX now takes precedence, especially if you are talking comparisons of bang-for-your-buck.
  • #38,514
  • Jan 19, 2019 3:16am Jan 19, 2019 3:16am
Quoting billytt
{quote} hi. i actually should not of spoken about 00-00 4 hour bar as that is a fixer bar looking for the adr ( average daily range). we have the 00-00 4 hour bar, with a High & Low, we also have calculated average of the previous 5 days daily ranges. adr calculated over previous 5 days is example. 100+150++100+150+180 =680 divide by 5 =136. so adr is 136. Once the 00-00 bar high/low is broken it might keep moving to make the adr (might) we do not really know. BUT if it breaks then retraces to break the...
Hi Billy. I don't know if it's me causing the confusion, as when I have been talking about the 00:00 - 04:00 bar, I am only talking about the AU play, not the ''fixer'' on GU.

I was always under the impression that they were different animals. That's why Bo went off and used the AU set up all on ts own. Feel free to correct me if I am wrong.
  • #38,515
  • Jan 19, 2019 3:24am Jan 19, 2019 3:24am
Quoting lemercenaire
{quote} Oh I get it, that's why I used to run it, it was a fantastic way to set you up for the day - however as well as the extra hour in bed, it also overlaps my DAX play and the DAX now takes precedence, especially if you are talking comparisons of bang-for-your-buck.
Understand. For now I do not have access to the DAX though, so taking what is there. Btw did you ever look at the winrate of 4-7 am UK (I think that was the range in question, gotta look that up in my notes) Frankenbreak? The Idea is like take 5, if it goes back in the range -5 or -6.

Quoting lemercenaire
{quote} Hi Billy. I don't know if it's me causing the confusion, as when I have been talking about the 00:00 - 04:00 bar, I am only talking about the AU play, not the ''fixer'' on GU. I was always under the impression that they were different animals. That's why Bo went off and used the AU set up all on ts own. Feel free to correct me if I am wrong.
Bring him in, maybe he is kind enough to tell about the play, especially for the no-counter party. It looks like Happyman is also not the countering guy. Big question for AU is a consistent exit management, the entry can be done by a one-eyed bachelor of economics in his first trainee-year for DB.
Fix up, trade sharp ...
  • #38,516
  • Jan 19, 2019 4:22am Jan 19, 2019 4:22am
Quoting Hickson
Wonder if our friend inception is still trading the Frankenbreak ... It looks so appealing, but when it goes wrong it can easily become a nightmare. My best guess atm is a 1:1 RR and bet on the high winrate. Not enough trades yet though. And boy is it early sometimes ...

I'm trading it. It is good, but i always look also the h4 4:00 am candle for have a complete perspective of the price-location, if we are in a inside bar context etc

If you go to -10 pips you just open an opposite position.. easy
  • #38,517
  • Jan 19, 2019 4:55am Jan 19, 2019 4:55am
Quoting MrGreen95
{quote} I'm trading it. It is good, but i always look also the h4 4:00 am candle for have a complete perspective of the price-location, if we are in a inside bar context etc If you go to -10 pips you just open an opposite position.. easy
What do you do with the open -10 position though?
Fix up, trade sharp ...
  • #38,518
  • Jan 19, 2019 4:58am Jan 19, 2019 4:58am
Quoting billytt
{quote} you have a good point. i suggest different trade options to people. we can trade a break, or only trade off the retrace following a break (or both) using 15 min or 4 hour bar. Same with trading the 00-00 and 04-00 4 hour bar, trade break or trade retrace. The 08-00 15 min bar break is ok on a Friday as we have good odds of getting 5 . As for holding trade over weekend, it did happen especially with a counter. But i looked at it as an overhead, if you know what i mean.
Sir Billy,

This got me thinking. With three bars, there are up to 6 possible trades. If each but one gives 10 pips and M15 gives 5, that's up to 55 pips-o-points daily.

Cheers!
Buy low, sell high.
  • #38,519
  • Jan 19, 2019 6:04am Jan 19, 2019 6:04am
Quoting billytt
{quote} Hi, That is a good idea. I personally would stick to small lots until you get confident and see how forex works. ie , things happen which you do not expect or in theory shouldn't happen. ALSO, do not look on small lots as a few $$$, it doesn't matter if you lose. IT DOES MATTER. Play a small lot as if it is a big lot... and look at percentage %%% you make.
Hi & thank you for your reply!

I really hate losing (who actually doesnīt) so I still have my first 10.000 demo account intact and itīs now 1% in green territory. I tried from the very first beginning to treat my demo as live account. So besides making dumb mistakes getting used to the trading platform and placing sells with the buy button and vice versa (shame on me I know) I always think before placing a trade if I would take the same trade with real money.

In fact I have more problems to stay in a trade once it goes green and I see price coming back down a little ... close the position just to watch price heading in my direction again. I like the saying: "a brave lion is a dead lion" but right now I am more like the pic below ...
Attached Image
  • #38,520
  • Jan 19, 2019 6:16am Jan 19, 2019 6:16am
Quoting ForeXhell
{quote} Hi & thank you for your reply! I really hate losing (who actually doesnīt) so I still have my first 10.000 demo account intact and itīs now 1% in green territory. I tried from the very first beginning to treat my demo as live account. So besides making dumb mistakes getting used to the trading platform and placing sells with the buy button and vice versa (shame on me I know) I always think before placing a trade if I would take the same trade with real money. In fact I have more problems to stay in a trade once it goes green and I see price...
It is good to protect capital first. As traders, we have to accept losses nonetheless. Of course, they have to be small within your risk parameters. But they will occurr and we have to be as much aware of the fact that fearing the risk will not bring us much further than recklessly risking the full margin. It may sound like esoteric blablabla, but indeed in trading, we must find our middle far away from the extremes of fear and greed. No feeling too down nor too high. It is a daily battle I fight with myself.
Fix up, trade sharp ...
14 traders viewing now