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Billytt Die happy trading e/j daily breakout

  • #38,801
  • Jan 26, 2019 1:37pm Jan 26, 2019 1:37pm
gf informed me just before going out.
It is a Smiths tribute band and a very good one, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,802
  • Jan 26, 2019 1:43pm Jan 26, 2019 1:43pm
[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?
only a few years ago a £10 trade would cost £10, but now it would cost approx. £4000.
This is bad for counter unless you have the big bank roll.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,803
  • Jan 26, 2019 2:05pm Jan 26, 2019 2:05pm
[quote=billytt;11930776]
Quoting HappyMan
{quote} only a few years ago a £10 trade would cost £10, but now it would cost approx. £4000. This is bad for counter unless you have the big bank roll.
We talked about this a lot, and I think it will not change soon. Time to find a way around it I guess. This is why I always put hard stops in ahead of the trade. The risk is defined BEFORE the trade, not while it is running, so margin problems are already solved.
Fix up, trade sharp ...
  • #38,804
  • Jan 26, 2019 9:53pm Jan 26, 2019 9:53pm
Morning, all!

Another good one from Billy on trading a retrace.

Quoting billytt
Cable 04-00 break, i use 5 minute chart so you can see.. Remember, it broke low then retraced, We do not know how far it will retrace. {image} H=High,,,L = Low,,, T = Trigger,,, R = Retrace we had a short trigger then it retraced, Because the + 10 had not been made (for stats) we could of made a 2nd short,(actually more than one) and they would of come good. This extra trade can add %%%% to funds, They can fail though. i did not trade this today.... edit,,,, i put the T trigger at wrong candle, but it still stands
Buy low, sell high.
  • #38,805
  • Jan 27, 2019 2:08am Jan 27, 2019 2:08am
[quote=Hickson;11930804]
Quoting billytt
{quote} We talked about this a lot, and I think it will not change soon. Time to find a way around it I guess. This is why I always put hard stops in ahead of the trade. The risk is defined BEFORE the trade, not while it is running, so margin problems are already solved.
Hi H, i do not think we will ever agree with what is best or logically the best method.
To have a stop is ideal for most traders and yes the risk is defined but a good counter avoids whip.
Anyway horses for courese.
Take care, trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,806
  • Jan 27, 2019 2:10am Jan 27, 2019 2:10am
Quoting HappyMan
Morning, all! Another good one from Billy on trading a retrace. {quote}
Trading the retrace can be very profitable and if used as a first method you will not lose as much if you have a fail.....
We may miss a trade or two if the high/low breaks and then continues...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,807
  • Jan 27, 2019 2:13am Jan 27, 2019 2:13am
Quoting HappyMan
Morning, all! Another good one from Billy on trading a retrace. {quote}

If we are looking for 5 pips (5% in my case) if we enter a trade off a retrace, for every pip we make that is 20% of the 5 pip (5%) range.
i will show some examples
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,808
  • Jan 27, 2019 2:16am Jan 27, 2019 2:16am
[quote=Hickson;11930804]
Quoting billytt
{quote} We talked about this a lot, and I think it will not change soon. Time to find a way around it I guess. This is why I always put hard stops in ahead of the trade. The risk is defined BEFORE the trade, not while it is running, so margin problems are already solved.
Also, some brokers hold only 10% as margin on a counter.
Buy low, sell high.
  • #38,809
  • Jan 27, 2019 2:30am Jan 27, 2019 2:30am
Quoting HappyMan
Morning, all! Another good one from Billy on trading a retrace. {quote}
to keep things easy my next post will be a retrace trade, FROM FRIDAY....
i think that if you have to look back weeks, months back for examples then something is wrong with a method.
But looking back is good if you are looking for fails.

i will round my numbers off the the whole number ( no decimals)

edit. FIRST, we have the break and if/when it retraces we do not know how far that retrace will go??????? maybe look for clues.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,810
  • Jan 27, 2019 2:59am Jan 27, 2019 2:59am
g/u 5 minute chart from last Fri 25th.
Attached Image


Don't forget we are looking for 5 pips....
The Low broke (T) without making 5 ,,,, we had a retrace then (X) dropped down to make 5 pips.... SIMPLE

SO LETS DO A RETRACE TRADE.....
the Low broke (T) then retraced back up ( R - R) we do not know how far up?????( it actually retraced -11)

AS SOON AS THAT RETRACE GOES ABOVE THE TRIGGER WE CAN SHORT.
EVEN 1 PIP IS = TO 20% OF THAT 5 PIP TRADE.
The Low was 13085, we could of entered at 13086, 13090 (+5) 13013095 (+10) etc.

keep asking questions
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,811
  • Jan 27, 2019 3:06am Jan 27, 2019 3:06am
Originally i was doing Retrace Trades on the daily and 04-00 4 hour bar charts.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,812
  • Jan 27, 2019 3:42am Jan 27, 2019 3:42am
Quoting billytt
g/u 5 minute chart from last Fri 25th. {image} Don't forget we are looking for 5 pips.... The Low broke (T) without making 5 ,,,, we had a retrace then (X) dropped down to make 5 pips.... SIMPLE SO LETS DO A RETRACE TRADE..... the Low broke (T) then retraced back up ( R - R) we do not know how far up?????( it actually retraced -11) AS SOON AS THAT RETRACE GOES ABOVE THE TRIGGER WE CAN SHORT. EVEN 1 PIP IS = TO 20% OF THAT 5 PIP TRADE. The Low was 13085, we could of entered at 13086, 13090 (+5) 13013095 (+10) etc. keep asking questions
Morning Billytt
I understand most of it.
Why would you short above the trigger?
Regards
Kev
  • #38,813
  • Jan 27, 2019 3:48am Jan 27, 2019 3:48am
Quoting kevin1959
{quote} Morning Billytt I understand most of it. Why would you short above the trigger? Regards Kev
08-00 15 min bar
Attached Image


same time 08-00 to 08-15 using 5 minute bars
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,814
  • Jan 27, 2019 4:06am Jan 27, 2019 4:06am
Quoting billytt
{quote} 08-00 15 min bar {image} same time 08-00 to 08-15 using 5 minute bars {image}
Hi Billytt
Thanks for the reply.
So if it stays whithin the 15 min bar we look to short ?
if price goes above the 15 min bar we counter with a buy ?
Regards
kev
  • #38,815
  • Jan 27, 2019 4:11am Jan 27, 2019 4:11am
Quoting billytt
{quote} 08-00 15 min bar {image} same time 08-00 to 08-15 using 5 minute bars {image}
The range was 21....
Lets suppose we entered on the Low and it Failed... we then lose 21 points.......

Lets enter the trade AFTER the break of low somewhere on the retrace (X). ( it did retrace -11) but we did not know how far??.
If we entered 5 above the low and it failed we would of then lost 16 points not 21.
It went well so we could of made either +5 or even +10
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,816
  • Jan 27, 2019 4:14am Jan 27, 2019 4:14am
Quoting kevin1959
{quote} Hi Billytt Thanks for the reply. So if it stays whithin the 15 min bar we look to short ? if price goes above the 15 min bar we counter with a buy ? Regards kev
yes... i am primarily looking at trades with stops to keep it easier. lol
SO, we have a break and hopefully a retrace BEFORE THE +5 IS MADE.
we have the stats saying that we have good odds of the break making +5.
So until it happens we can play the retrace until we make what ever our goal is OR FAIL.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,817
  • Jan 27, 2019 4:26am Jan 27, 2019 4:26am
Quoting billytt
{quote} yes... i am primarily looking at trades with stops to keep it easier. lol SO, we have a break and hopefully a retrace BEFORE THE +5 IS MADE. we have the stats saying that we have good odds of the break making +5. So until it happens we can play the retrace until we make what ever our goal is OR FAIL.
Thanks Billytt.
I don't do stops anymore.
I have been practicing the way you and Lem counter a trade.
My problem is I start with a counter of say 25, but when it goes into profit, I take the profit and put the same buy or sell on, but by this time it might be 50 pips away from the original price.
Eventually I can be 100, 200, 300, pips away from the original price
Regards
Kev
  • #38,818
  • Jan 27, 2019 4:59am Jan 27, 2019 4:59am
Quoting kevin1959
{quote} Thanks Billytt. I don't do stops anymore. I have been practicing the way you and Lem counter a trade. My problem is I start with a counter of say 25, but when it goes into profit, I take the profit and put the same buy or sell on, but by this time it might be 50 pips away from the original price. Eventually I can be 100, 200, 300, pips away from the original price Regards Kev
once in profit, take it.
as a guide, i would prefer to close a fail with a £1 gain than a £25 loss.
Normally with counter you end up with profit.

When yo close a trade look for the NEXT TRIGGER, maybe day after , not history.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38,819
  • Jan 27, 2019 5:11am Jan 27, 2019 5:11am
Quoting billytt
{quote} once in profit, take it. as a guide, i would prefer to close a fail with a £1 gain than a £25 loss. Normally with counter you end up with profit. When yo close a trade look for the NEXT TRIGGER, maybe day after , not history.
Yes I see what you mean.
I take the profit, but keep the loosers running waiting for price to come back to the original buy or sell trade.
This very rarely happens, and eventually destroys the account
Regards
Kev
  • #38,820
  • Jan 27, 2019 6:50am Jan 27, 2019 6:50am
Quoting kevin1959
{quote} Yes I see what you mean. I take the profit, but keep the loosers running waiting for price to come back to the original buy or sell trade. This very rarely happens, and eventually destroys the account Regards Kev

If on a counter,,, we look for the next trade NOT TO FALL BACK, that is history... ;LOOK TO THE FUTURE (NEXT TRADE)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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