Billytt Die happy trading e/j daily breakout | Page 2054 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #41,061
  • May 8, 2019 3:19am May 8, 2019 3:19am
Quoting RieseP
{quote} Hi Billy when the price breaks the low but when price reverts and goes back into the candle would you open a long and just wait until you had your 5%? same with 00-00 04-00 candle would you protect your trade with a hedge and then aim for +10 ?
That's the way I do it, Riese. It's Wick Zone tech and sorry if you've seen me mention it and I confused the issue.
  • #41,062
  • May 8, 2019 3:23am May 8, 2019 3:23am
Quoting lemercenaire
{quote} That's the way I do it, Riese. It's Wick Zone tech and sorry if you've seen me mention it and I confused the issue.
You hedge or take the loss? could you tell in more detail for us simpletons
  • #41,063
  • May 8, 2019 3:24am May 8, 2019 3:24am
Quoting RieseP
{quote} You hedge or take the loss? could you tell in more detail for us simpletons
Sorry Lem i don't take much notice of you because you mainly trade the dax and your style is abit alien to me ....
  • #41,064
  • May 8, 2019 3:27am May 8, 2019 3:27am
Late start as always just now for me on Wednesdays.

Turns out I missed a nice, simple, move from The Monster (of course they're all simple looking back at them!).

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Looks like there was between +15 and +20 pips available on the move.

However, no crying over spilt milk here and I figured the momo still had a little juice left in the tank and looked for a way in.

DAX 1-min

In and Out in a quickie...+5.4

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That'll do me fine.
  • #41,065
  • May 8, 2019 3:31am May 8, 2019 3:31am
Quoting RieseP
{quote} You hedge or take the loss? could you tell in more detail for us simpletons
I hedge (counter) as price breaks back into the body of the candle.

Then, depending on the size of the candle will begin to unwind that locked-in bad-boy with micro-scalps until I get the next major trigger, which in this case will be any break of the other side of the candle.
  • #41,066
  • May 8, 2019 3:32am May 8, 2019 3:32am
Quoting RieseP
{quote} Ok, say the range of the 15 Bar was 12, would you take the loss of the 12. Whats the disadvantages of hedging?
Good question.... the advantage of hedging/ counter is, IT SELLS. You only fail when you close.
I have 2 friends/colleagues who have companies and they can truthfully advertise very high hit rates.
Some people say and correctly (But you still lose) and rightly so but I counter and am very happy and as long as I get 25% in 5 Trade day I am happy, and still better than any bank.
Due to new margin bs it is harder to do without the bankroll.
trade well.
BUT, you can still trade with a stop successfully. But that does not sell, lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,067
  • May 8, 2019 3:33am May 8, 2019 3:33am
Looks like the juice has run dry for now...

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  • #41,068
  • May 8, 2019 3:36am May 8, 2019 3:36am
T 09-35
cable at this time is/was 13047
we can still short it, as long as the High has not been broke.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,069
  • May 8, 2019 3:55am May 8, 2019 3:55am
Quoting billytt
T 09-35 cable at this time is/was 13047 we can still short it, as long as the High has not been broke.
T09-53
IF we did short at 13047 and it failed we would lose 12. But if we went short on the actual low break of 13041 we would lose 18.
we could either lose or make 11 or the 5. This is were I make extra points to off set a fail.
but not today.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,070
  • May 8, 2019 4:01am May 8, 2019 4:01am
Quoting billytt
{quote} T09-53 IF we did short at 13047 and it failed we would lose 12. But if we went short on the actual low break of 13041 we would lose 18. we could either lose or make 11 or the 5. This is were I make extra points to off set a fail. but not today.
To counter or to not counter.... that is the question
  • #41,071
  • May 8, 2019 4:11am May 8, 2019 4:11am
Quoting RieseP
{quote} To counter or to not counter.... that is the question
ESMA makes it more difficult, as Billy said.
  • #41,072
  • May 8, 2019 4:13am May 8, 2019 4:13am
Another question.... sorry for distracting the thread, I will be gone before the horse bets start. Should stick to plan for example billy you trade the 00-00 04-00 break and the 8-00 15 break once this is complete do you walk away and be content or if another opportunity occurs do get back in, i suppose this is where psycoology plays a part. do you risk overtrading.

Also this a example would you sell after price would make a pull back from the low of the 00-00 4 hour candle?
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  • #41,073
  • May 8, 2019 4:14am May 8, 2019 4:14am
Over onto the flip-side.

Missed the lightning strike move short after the original turn as busy elsewhere, however played of the micro Z-Line...

DAX 1-min Z-Line Short.

Out +5

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  • #41,074
  • May 8, 2019 4:27am May 8, 2019 4:27am
Aggressive for the next one...

DAX 1-min

In

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Out +5.5

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  • #41,075
  • May 8, 2019 4:30am May 8, 2019 4:30am
Quoting RieseP
Another question.... sorry for distracting the thread, I will be gone before the horse bets start. Should stick to plan for example billy you trade the 00-00 04-00 break and the 8-00 15 break once this is complete do you walk away and be content or if another opportunity occurs do get back in, i suppose this is where psycoology plays a part. do you risk overtrading. Also this a example would you sell after price would make a pull back from the low of the 00-00 4 hour candle? {image}
Hi R, you are not distracting.
These are good questions,it shows you are learning.
once my Trade has won, I am finished for the day.
if it Fails I then start the fix.
If 00-00 breaks I enter trade and sometimes I even trade off the retrace,it depends on the stats. Same with 08-00.
BUT ONCE my 5 points are made on 08-00 that is it,
AND NOW CONTRADICTION TIME,,,,,,,lol.
i posted earlier that I made 5% on Cable 08-00 break..then at 09-35 I said we can still short at 13047 it then dropped to 13032 The reason I said this was because my stats are based on taking 10 points and not 5.
I take 5 for better odds. But with this sort of retrace trade I call them Opportunist Trades.

sorry for long post, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,076
  • May 8, 2019 4:32am May 8, 2019 4:32am
Quoting lemercenaire
Aggressive for the next one... DAX 1-min In 3331908 Out +5 3331911
Yaaaay, aggression? You cannot beat it,lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,077
  • May 8, 2019 4:41am May 8, 2019 4:41am
Again...

Poking the bear...

In

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Maybe pushing my luck here now...

Out +3.5

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  • #41,078
  • May 8, 2019 4:43am May 8, 2019 4:43am
Similar to yesterday.

Double top on h1, bounce off pivot, break previous day low, break t/l, 70% adr (20) etc etc.

00 next.
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  • #41,079
  • May 8, 2019 4:47am May 8, 2019 4:47am
Quoting RieseP
Another question.... sorry for distracting the thread, I will be gone before the horse bets start. Should stick to plan for example billy you trade the 00-00 04-00 break and the 8-00 15 break once this is complete do you walk away and be content or if another opportunity occurs do get back in, i suppose this is where psycoology plays a part. do you risk overtrading. Also this a example would you sell after price would make a pull back from the low of the 00-00 4 hour candle? {image}
No distracting at all, ask away...Billy will answer .
  • #41,080
  • May 8, 2019 4:48am May 8, 2019 4:48am
Quoting claudia1
Similar to yesterday. Double top on h1, bounce off pivot, break previous day low, break t/l, 70% adr (20) etc etc. 00 next. {image}
Nice 50% bounce leading into your block as well.
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