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Billytt Die happy trading e/j daily breakout

  • #38,781
  • Jan 26, 2019 3:43am Jan 26, 2019 3:43am
morning.
G/U this is how it ended yesterday Fri.

adr High was met.
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,782
  • Jan 26, 2019 3:52am Jan 26, 2019 3:52am
[quote=lemercenaire;11929370]{quote} i intend to trade off the midnight open UK time...00-00 am. At this moment in time i will have a 10 or maybe 15 filter then trade. If it reverses and i expect it do i will trade again. At this moment i am not sure if i will trade counter, i am trying to make trading this way accessible to the normal retaioler. Lets see...... edit ....as for time frame.. i will either look for 20 points + or go for the adr, maybe

I know i can hit part of the adr using the 00-00 4 hour bar. (that part is easy)
i say hit , i mean take some of the range...
Profit is calculated by adr High/Low minus the 00-00 4 bar range.

i am hoping to take more profit.
Nothing to do with greed but just to see if i can achieve it and maybe help retailers...(help! yeah right probably sell it lol)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,783
  • Jan 26, 2019 4:25am Jan 26, 2019 4:25am
gf has gone out doing some sort of keep fit, inner piece dance/exercise.
Then off to a funeral followed by a Smiths concert.
i am doing a bit of work in her garden, ironing then making dinner before the concert.

i am thinking of holding coffee mornings, maybe Mr T will come lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,784
  • Jan 26, 2019 4:39am Jan 26, 2019 4:39am
Here is the way Sir Billy does countering. Will post my example in the next post to keep this one short.

Quoting billytt
{quote} ok another clue/S. you don't counter a counter but counter the next trigger if it fails. I actually trade an advanced form of grid trading so i have been told... (not a uniform grid)
Buy low, sell high.
  • #38,785
  • Jan 26, 2019 4:45am Jan 26, 2019 4:45am
Quoting HappyMan
Here is the way Sir Billy does countering. Will post my example in the next post to keep this one short. {quote}
that sounds good bud.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,786
  • Jan 26, 2019 4:56am Jan 26, 2019 4:56am
This may not a perfect example but it illustrates the point.

On the way back, the price hit the High of 08-00 M15 (Range 21 points) and activated a buy.
Then, it went down to the low, activating the stop, losing 21 points, and activated a sell, double of the initial trade or not.
But then, it went back up, activating another stop, losing 21 points (double or not). The current loss was 42-63 points.
The price continued to go up until it hit the next trigger, in this case, the top of 00-00 H4 bar and activated a buy with the hopes of hitting the daily ADR (range 30) and higher.

If a trader did not double up at the first stop and next trigger, then -42+30=-12 and waiting for another day to recover further.
If a trader doubled up at the next trigger, then -42+60=+18.
If a trader doubled up at the first stop and the next trigger, then -21-42+30=-33 and waiting for another day to recover.
If a trader doubled up at the first stop and quadrupled (double of the double) at the next trigger, then -21-42+120=+57.

Perhaps Sir Billy can confirm these calculations.

NB: These numbers are purely hypothetical and there is no call for action. Use them to your own advantage and risk.
Attached Image (click to enlarge)
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Buy low, sell high.
  • #38,787
  • Jan 26, 2019 5:06am Jan 26, 2019 5:06am
Quoting slowbrain
{quote} for sure go ahead ... pleasure is all mine ..... {image}
I worry about you SB, I really do. Did you go to a public school ?
every Saint has a past. Every Sinner has a Future
  • #38,788
  • Jan 26, 2019 5:13am Jan 26, 2019 5:13am
Quoting HappyMan
This may not a perfect example but it illustrates the point. On the way back, the price hit the High of 08-00 M15 (Range 21 points) and activated a buy. Then, it went down to the low, activating the stop, losing 21 points, and activated a sell, double of the initial trade or not. But then, it went back up, activating another stop, losing 21 points (double or not). The current loss was 42-63 points. The price continued to go up until it hit the next trigger, in this case, the top of 00-00 H4 bar and activated a buy with the hopes of hitting the daily...
That looks good bud, i will come back later and answer.
Garden time.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,789
  • Jan 26, 2019 5:14am Jan 26, 2019 5:14am
Quoting billytt
gf has gone out doing some sort of keep fit, inner piece dance/exercise. Then off to a funeral followed by a Smiths concert. i am doing a bit of work in her garden, ironing then making dinner before the concert. i am thinking of holding coffee mornings, maybe Mr T will come lol.
i might start knitting next
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,790
  • Jan 26, 2019 5:59am Jan 26, 2019 5:59am
Quoting billytt
{quote} i might start knitting next
Hi Billytt
Do you remember the redicut wool rug kits, bundles of coulred wool strands, a tool to twist the wool, and a picture on a square something with holes in.
Good Luck with the midnight break, looking forward to see how it works out.
Have a good weekend.
Still babysitting the Labradoodle so its walkies time lol
Regards
Kev
  • #38,791
  • Jan 26, 2019 6:19am Jan 26, 2019 6:19am
Q&A about the Dead Zone with Lem. Especially interesting is his entry method.

Quoting lemercenaire
{quote} ''(So it's )...the range of the 23:00 Bar,'' At its most basic, yes. ''What exactly is the entry? the break of that HI/LOW i'm assuming?'' Yes...and no...The method trades a series of optional lines. High, Low, Open, Close and Mid-Line. Price will (statistically speaking) want to leave the wick-zones of the candle. We take advantage of this. I personally prefer to trade as price crosses back inside the body of the candle over the external breakout. That's my personal preference - you can trade either way. However, we trade as price leaves...
Buy low, sell high.
  • #38,792
  • Jan 26, 2019 8:12am Jan 26, 2019 8:12am
garden is nice and neat......
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,793
  • Jan 26, 2019 8:13am Jan 26, 2019 8:13am
Quoting kevin1959
{quote} Hi Billytt Do you remember the redicut wool rug kits, bundles of coulred wool strands, a tool to twist the wool, and a picture on a square something with holes in. Good Luck with the midnight break, looking forward to see how it works out. Have a good weekend. Still babysitting the Labradoodle so its walkies time lol Regards Kev
shhhhhhhhhhhh i do......and shake n vac lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,794
  • Jan 26, 2019 8:15am Jan 26, 2019 8:15am
[quote=HappyMan;11930079]This may not a perfect example but it illustrates the point. On the way back, the price hit the High of 08-00 M15 (Range 21 points) and activated a buy. Then, it went down to the low, activating the stop, losing 21 points, and activated a sell, double of the initial trade or not. But then, it went back up, activating another stop, losing 21 points (double or not). The

Hi, your post is correct.
Only trouble is, is that countering is sooooo difficult now due to margin...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,795
  • Jan 26, 2019 8:48am Jan 26, 2019 8:48am
[quote=billytt;11930326]
Quoting HappyMan
This may not a perfect example but it illustrates the point. On the way back, the price hit the High of 08-00 M15 (Range 21 points) and activated a buy. Then, it went down to the low, activating the stop, losing 21 points, and activated a sell, double of the initial trade or not. But then, it went back up, activating another stop, losing 21 points (double or not). The Hi, your post is correct. Only trouble is, is that countering is sooooo difficult now due to margin...
How was it before the tightened margin? How has it changed since then? The current margin is what, 33:1?
Buy low, sell high.
  • #38,796
  • Jan 26, 2019 8:49am Jan 26, 2019 8:49am
Here is a bit of general advice and evaluation of the system from Lem. I thought it was well said.

Quoting lemercenaire
{quote} Nicely done. How cool is it to trade in such a confusion-free zone? Good, eh? The brilliant thing about all the methods stored over here in Billy's yard, is that once you have the basic ''rules'' in your head, it really is just a matter of rep, rep, rep. Nothing is going to suddenly come up that will force you to ''adapt'' the rules. ''Oh no, I didn't mean that - do it this way instead...oh hold on, I'll just add another indicator...'' They will stay the same. It's all about getting some mileage under your belt and grooving the method till...
Buy low, sell high.
  • #38,797
  • Jan 26, 2019 8:52am Jan 26, 2019 8:52am
More Q&A from Lem. The guy is a genius and has a bunch of experience that can save beginners some cash. Take for example his suggestion in the first question. It adds another option to my aforementioned example. Applied in the next post.

Quoting lemercenaire
{quote} No, there are no conflicts. The techniques are the same. What you have to remember though, is that I use Wick-Zone entry methods on my breaks (H4 included) and Billy does not. This gives me different entries, hence different counters. ''Counter should be same or double original entry lot size? If same why? If double why?'' Same. You're holding the bad trade in limbo. Next trigger is double (if you want - or keep it the same, your call). ''Counters should close on next trigger if not when?'' This is where there is variation - even among my...
Buy low, sell high.
  • #38,798
  • Jan 26, 2019 9:02am Jan 26, 2019 9:02am
Let's apply Lem's approach to my earlier example.

So, a trader loses 21 and activates a sell but, instead of taking the loss it is in a "limbo". How does it help? Regardless where the market goes next, up or down, the loss is limited to 21 points. Next, a trader enters at the next trigger, double or not. Without doubling but hitting the ADR High, a trader gets 9 points (30-21). With doubling, a trader gets 39 points, (30*2-21). The challenge is to close the initial trade and the counter at the same time. Without special software, let's say one loses 2-5 points on the spread and not being enough quick. Still, not bad.

Conclusion: it does not make sense to double on a counter because we do not know where the market will go next and may get whipsawed. It does make sense to double, or maybe go all in, on the next trigger.
Buy low, sell high.
  • #38,799
  • Jan 26, 2019 11:02am Jan 26, 2019 11:02am
[quote=HappyMan;11930372]
Quoting billytt
{quote} How was it before the tightened margin? How has it changed since then? The current margin is what, 33:1?
Previously you could counter and run multiple trades at the same cash-level to your heart's content. Now you will be lucky to manage two or three trades open at the same time with the avg sized beginner trader's account.
  • #38,800
  • Jan 26, 2019 12:49pm Jan 26, 2019 12:49pm
Here is another approach - an opposite to countering - trading a retrace. Billy explains it using a picture.

Quoting billytt
{quote} {image} Cable from 6th June, 15 min so you can see. H = High 12879,,, L = Low 12859,,, Range = 20. what happened after trigger (T) ??? trigger then retrace 1,,, kept going down 2,,, it then went back up breaking the original trigger line (not marked) then it dropped again 5,,,then dropped to 6,,, then went back up passing the trigger line then the +10, end of trade. do i keep speaking???? can you see how many points/% you could of made even before the +5 and even if original trade had failed. This is stealing money, BUT IT CAN FAIL, it has...
Buy low, sell high.
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