Billytt Die happy trading e/j daily breakout | Page 2163 | 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

  • #43,241
  • Aug 7, 2019 3:07am Aug 7, 2019 3:07am
Quoting lemercenaire
Bouncy-bouncy...time for a Spike-Hunt... DAX 1-min Spike-Hunt +3.5 +5.5 +6.5 +8 +8.5 +9 [+41] {image} A Spike-Hunt is when as here, price takes a sustained move quickly in one direction - usually in a single candle but sometimes in a group - and then trading very quickly as price retraces back against the direction of that spike. So here, the spike was short and the trades entered long. You are in effect ignoring your normal Lightning Cloud rules, just going on the purest of price action.
Almost like a 'Wick Zone' trade Lem.
every Saint has a past. Every Sinner has a Future
  • #43,242
  • Aug 7, 2019 3:46am Aug 7, 2019 3:46am
a question about the Billy bar... i add a screenshot to see if i understand it correctly.....could anyone tell me if this is the right interpretation off the Billy bar?
Attached Image (click to enlarge)
Click to Enlarge Name: R4Mdn.png Size: 31 KB
  • #43,243
  • Aug 7, 2019 4:09am Aug 7, 2019 4:09am
Quoting Patje
a question about the Billy bar... i add a screenshot to see if i understand it correctly.....could anyone tell me if this is the right interpretation off the Billy bar? {image}
Take the bar that opens at 8.15 and wait for a break.

Reasoning behind that is orders start going in pre-London open from around 7.45.

By 8.15 most of the orders will be filled.

Make sense ? Might not be what William gets up to but it works.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD(£)M15.png Size: 60 KB
  • #43,244
  • Aug 7, 2019 4:22am Aug 7, 2019 4:22am
Quoting claudia1
{quote} Take the bar that opens at 8.15 and wait for a break. Reasoning behind that is orders start going in pre-London open from around 7.45. By 8.15 most of the orders will be filled. Make sense ? Might not be what William gets up to but it works. {image}
thanks.. so i got it wrong i see... its actually the 8:15 /8:30 candle...then wait for a break for 5 or 10 pips if not then take a counter right?
  • #43,245
  • Aug 7, 2019 4:25am Aug 7, 2019 4:25am
Quoting Patje
{quote} thanks.. so i got it wrong i see... its actually the 8:15 /8:30 candle...then wait for a break for 5 or 10 pips if not then take a counter right?
That's my take on it.

Billy might have a different idea and maybe using close of the 8.00 am candle on 15 min. Not sure.
  • #43,246
  • Aug 7, 2019 4:33am Aug 7, 2019 4:33am
Quoting claudia1
{quote} That's my take on it. Billy might have a different idea and maybe using close of the 8.00 am candle on 15 min. Not sure.
when you trade the break on wich tf do you trade it and do you enter when the candles closes or just a break.... with a pending order?
  • #43,247
  • Aug 7, 2019 4:57am Aug 7, 2019 4:57am
Quoting Patje
{quote} when you trade the break on wich tf do you trade it and do you enter when the candles closes or just a break.... with a pending order?
I mainly watch 1 hour but have 15 min open on a second monitor. Put stop orders in either side of the range to enter on the break.

Same applies to NY open.
  • #43,248
  • Edited 5:18am Aug 7, 2019 5:01am | Edited 5:18am
Quoting turnip15
{quote} Almost like a 'Wick Zone' trade Lem.
Basically it is, yes. Uses the same logic.

Only difference is, WZ you enter as price leaves the WZ and crosses back into the body, whereas this is like the freestyle snowboarder version of it, where you enter as soon as the spike has passed, so inside the wick as well and you can be back out of the trade(s) even before price leaves the WZ.
  • #43,249
  • Aug 7, 2019 5:03am Aug 7, 2019 5:03am
Quoting Patje
a question about the Billy bar... i add a screenshot to see if i understand it correctly.....could anyone tell me if this is the right interpretation off the Billy bar? {image}
See Post 43,233

You would never trade that size bar. Billy's absolute max was about 20 or so.
  • #43,250
  • Aug 7, 2019 5:05am Aug 7, 2019 5:05am
Quoting claudia1
{quote} That's my take on it. Billy might have a different idea and maybe using close of the 8.00 am candle on 15 min. Not sure.
You use the range of the 08:00 - 08:15 bar, Claudia.
  • #43,251
  • Aug 7, 2019 5:12am Aug 7, 2019 5:12am
Billy Bar.

As I said, too big a range but ignoring that, we get a fail, so counter is opened and you clear it on the way down.

Personally (just to muddy the waters even more, lol), I will trade the BB as a Wick-Zone trade, so my counter comes on board much earlier. I would then have my counter running along with the original one (assuming I hadn't closed it by now) and then opened a short on the second trigger. I now have an unbalance hedge. I close the long finally and run the two shorts.

Billy Bar
GBPUSD 15-min chart 08:00 - 08:15 UK time bar range break.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15asBillyBar-Failandretraceplay7thaug19.png Size: 54 KB


Edit: Actually measuring that out, the long move may just have sneaked a win!
  • #43,252
  • Aug 7, 2019 5:13am Aug 7, 2019 5:13am
Quoting lemercenaire
{quote} See Post 43,233 You would never trade that size bar. Billy's absolute max was about 20 or so.
thanks Lem... i red it....was just a question if i understand whats ment with Billy bar....and how to trade...its a bit more clear now
  • #43,253
  • Aug 7, 2019 5:23am Aug 7, 2019 5:23am
Quoting Patje
{quote} thanks Lem... i red it....was just a question if i understand whats ment with Billy bar....and how to trade...its a bit more clear now
Here's yesterday's...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15yesterdaysBB6th-aug7th19.png Size: 62 KB


Monday's...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15MondaysBB5th-7thaug19.png Size: 57 KB
  • #43,254
  • Aug 7, 2019 5:29am Aug 7, 2019 5:29am
Quoting lemercenaire
{quote} Here's yesterday's... {image} Monday's... {image}
How would you enter the breakout?
  • #43,255
  • Aug 7, 2019 5:34am Aug 7, 2019 5:34am
[quote=Patje;12426617]{quote} How would you enter the breakout?[/quote]

As soon as price breaks the line.

You can wait for a break and retrace to be uber cautious but I don't and I know Billy doesn't.
  • #43,256
  • Aug 7, 2019 5:35am Aug 7, 2019 5:35am
Sorry, folks. Gotta' go.

Maybe back for the late arvo but failing that, I will check in later.

Have fun y'all!
  • #43,257
  • Aug 7, 2019 6:15am Aug 7, 2019 6:15am
Quoting lemercenaire
{quote} GU. London Open. Take the range of the 08:00 - 08:15 candle. Trade the break. Aim for +5. Counter if fails, as stats show that the likelihood is that price will retrace and keep on going all the way out the other side. Hunt the Daily Range. If you can't or don't want to counter, then just use a hard stop.
Fantastico. Now with this and my millipedes army I'll conquer the world muhehe.
  • #43,258
  • Aug 7, 2019 10:48am Aug 7, 2019 10:48am
A wee bit of end-of-the-day fun..

EURUSD 1-min +2.4 +2.6 +2.7 +2.8 +3.3 [+13.8]

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD1-minendofuksession7thaug19for+2.4+2.6+2.7+2.8+3.3.png Size: 40 KB
  • #43,259
  • Aug 7, 2019 10:50am Aug 7, 2019 10:50am
Looks like the UK100 was the place to be this afternoon.

EDIT: Just saw The DAX was equally as good.

Hope someone got some of that action.
  • #43,260
  • Aug 7, 2019 10:55am Aug 7, 2019 10:55am
Over to the US30...

US30 1-min +16

Attached Image (click to enlarge)
Click to Enlarge Name: US30endofuk1-min+16aug7th19.png Size: 42 KB
85 traders viewing now