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Billytt Die happy trading e/j daily breakout

  • #43,641
  • Aug 21, 2019 6:56am Aug 21, 2019 6:56am
Quoting Hickson
{quote} Simply too many Borisses and Donald's in this world, Claudia ... simply too many ... {quote} That is right, we are all different. I can wait for something good to happen all day if I know it will come up eventually. Sometimes it does not. But when there is more good than bad after the week, it works for me. However, I admire the high-speed scalpers. Most of them are financially dead though, but you are here for quite some time now ...
Scalping will burn the unwary alive. Even those who think they have ''learned'' it, can become victims. This is because you can run long time frame methods even if you hate the style of trading you are using because you can be at the screens for a short while and then the rest of the time, you're off. However, if you try to scalp because you think it's an easy way to make money quickly but don't actually love it, then disaster awaits - because honestly, the best scalpers, the ones who aren't dead financially as you say, truly love, love, love the game. It's in the blood.

It's no coincidence that I also have been a placekicker, a sport-climber, mountaineer and love fast cars. It is the same mentality. That ability to use the benefits of adrenaline, while at the same time being able to control the negative effects. I am sure if I had lived at the time, I would have made my living as a Barnstormer!
  • #43,642
  • Aug 21, 2019 7:02am Aug 21, 2019 7:02am
Quoting lemercenaire
{quote} Scalping will burn the unwary alive. Even those who think they have ''learned'' it, can become victims. This is because you can run long time frame methods even if you hate the style of trading you are using because you can be at the screens for a short while and then the rest of the time, you're off. However, if you try to scalp because you think it's an easy way to make money quickly but don't actually love it, then disaster awaits - because honestly, the best scalpers, the ones who aren't dead financially as you say, truly love, love,...
Yes, that is the different mentality I have mentioned. I have always been a relatively calm person, avoiding risk as much as possible and enjoying things like fishing or strategic games like chess. My action and risk taking goes as far as playing basketball for many years which ended in a knee injury, but this is probably a risk most high-adrenaline junkies would only laugh about. The advantages are that you get into less trouble than most people, but the downside is sometimes missing out on chances. I guess there is no answer to life that is always correct. Yet from my experience, for most people - and the people they meet in life - a calmer attitude would be much, much healthier.
Fix up, trade sharp ...
  • #43,643
  • Aug 21, 2019 7:13am Aug 21, 2019 7:13am
Quoting DavidRP
{quote} Hi lem, May I ask you what your profit% to max DD is on average in a year basis? 1:1? 2:1?..
You can ask but honestly, I have absolutely no idea. Billy often says that his method(s) shouldn't work...but they do. I am probably in the same boat.

There is a game you can play to see if our kind of trading suits you and that is to take two opposite positions immediately together (or as close as you can get), then for the rest of the day manage the green v red, using counters and stacking. You will be in the market at all times and all you are looking to do is end the day green.

That in all truth is all that matters to me. I don't keep track of all the statistical ''stuff'' that a classic trader education tells you you should do. I was taught by a guy who didn't give a flying fig how you did it - you could consult the I Ching, read tea-leaves or cast bones for all he cared. So long as you greened-up, that was all that mattered.

He had a garage full of Greened-Up Lamborghini, Ferrari, Aston Martin and Ducati playthings. I figured he knew what he was talking about.

Scalping is similar to living that way - once you've lived that lifestyle, it's difficult to give it up.
  • #43,644
  • Aug 21, 2019 7:14am Aug 21, 2019 7:14am
Quoting lemercenaire
{quote} Scalping will burn the unwary alive. Even those who think they have ''learned'' it, can become victims. This is because you can run long time frame methods even if you hate the style of trading you are using because you can be at the screens for a short while and then the rest of the time, you're off. However, if you try to scalp because you think it's an easy way to make money quickly but don't actually love it, then disaster awaits - because honestly, the best scalpers, the ones who aren't dead financially as you say, truly love, love,...
Funny you should mention climbing - I was looking at the DAX this morning on my Renko chart thinking it was making an attempt on the north face of the Eiger! There was a bit of snow hole break at 8-9 UK time this morning before the climbing continued - I'm just waiting for some of the ice screws to pop out for a bit of glissade!
Everything should be made as simple as possible, but no simpler - Einstein
  • #43,645
  • Aug 21, 2019 7:18am Aug 21, 2019 7:18am
Quoting Hickson
{quote} Yes, that is the different mentality I have mentioned. I have always been a relatively calm person, avoiding risk as much as possible and enjoying things like fishing or strategic games like chess. My action and risk taking goes as far as playing basketball for many years which ended in a knee injury, but this is probably a risk most high-adrenaline junkies would only laugh about. The advantages are that you get into less trouble than most people, but the downside is sometimes missing[/highlight]...
Ah, you see, that's the misconception! That those who operate in these fields are hyper, woo-hoo give-it-all-you-got hoons but actually, the key is this: You may be like that in your down time (and that actually isn't a given either) but when you are at ''work'', you are the calmest, coolest, character you will ever meet.

The ones who tear it up out-of-hours will actually be the ones who burn out early, as they are in effect using transference to offset the stress of working life. Those who are truly in control don't need that blow-off time. It's actually anathema, as it is a sign of losing control.
  • #43,646
  • Aug 21, 2019 7:21am Aug 21, 2019 7:21am
Quoting Davidh061
{quote} Funny you should mention climbing - I was looking at the DAX this morning on my Renko chart thinking it was making an attempt on the north face of the Eiger! There was a bit of snow hole break at 8-9 UK time this morning before the climbing continued - I'm just waiting for some of the ice screws to pop out for a bit of glissade!
My climbing career was 99% sport-climbing, with the high mountains being treated almost like down-time and stamina training. There's that scalping mentality at work again, short, sharp, highly technical climbing as a preference.
  • #43,647
  • Aug 21, 2019 7:53am Aug 21, 2019 7:53am
The Billy-Bar was indeed a fail going Short but came good on the reverse. Billy Stats get the job done again!

GU Billy-Bar

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  • #43,648
  • Aug 21, 2019 7:56am Aug 21, 2019 7:56am
The AU H4 bar set-up mirrored the Billy-Bar, as there was a fake Short (though this time I don't think it would have triggered) and then a move back up through and out the other side.

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  • #43,649
  • Aug 21, 2019 8:05am Aug 21, 2019 8:05am
Dead Zone for today.

UC as always to play the odds. No directional bias for me.

Dead Zone UC

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  • #43,650
  • Aug 21, 2019 9:50am Aug 21, 2019 9:50am
Quoting turnip15
{quote} You read correctly Claudia. He has now cancelled a scheduled visit to Denmark, at the last minute, because Denmark told him Greenland is not for sale. Edit: add url:trump-state-visit-cancellation-over-greenland-shocks-danes
What about this:

'Greene King to be sold to Hong Kong's richest family for £2.7bn'

Does the UK own anything anymore ? Probably find the Russians own Downing Street.
  • #43,651
  • Aug 21, 2019 10:15am Aug 21, 2019 10:15am
Quoting claudia1
{quote} What about this: 'Greene King to be sold to Hong Kong's richest family for £2.7bn' Does the UK own anything anymore ? Probably find the Russians own Downing Street.
Well, they do say that the UK is a world leader in the service economy, lol.
  • #43,652
  • Aug 21, 2019 10:54am Aug 21, 2019 10:54am
Quoting lemercenaire
{quote} Well, they do say that the UK is a world leader in the service economy, lol.
Hi Lem -My Futures chart for Dow that I spoke about in the past. ( UK afternoon) - Red lines indicate screen time.
To be clear - no trades today as it is relatives due any minute time ( Three women to boss me about ) !!!
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every Saint has a past. Every Sinner has a Future
  • #43,653
  • Aug 21, 2019 10:59am Aug 21, 2019 10:59am
Quoting claudia1
{quote} What about this: 'Greene King to be sold to Hong Kong's richest family for £2.7bn' Does the UK own anything anymore ? Probably find the Russians own Downing Street.
Lol...….seriously though; a lot of UK residential property ( London for example ) is owned by persons hiding behind shell or offshore companies. Much industry is foreign owned ( China Clay industry in Cornwall is French owned for example) and even utility companies suffer the same fate. Hope we don't have a war with anyone !!
Worryingly Trump supports Brexit - divide and conquer maybe ?
every Saint has a past. Every Sinner has a Future
  • #43,654
  • Aug 21, 2019 1:55pm Aug 21, 2019 1:55pm
Quoting turnip15
{quote} Lol...….seriously though; a lot of UK residential property ( London for example ) is owned by persons hiding behind shell or offshore companies. Much industry is foreign owned ( China Clay industry in Cornwall is French owned for example) and even utility companies suffer the same fate. Hope we don't have a war with anyone !! Worryingly Trump supports Brexit - divide and conquer maybe ?
I don't think The Chosen One in the White House is too keen on anything European, he obviously doesn't like the Danes anymore! The opportunity to divide and conquer by fracturing European unity through brexit is too big an opportunity to miss. A few promises of "jam tomorrow" and "this way be unicorns"whispered into the ears of the delusional narcissists in Westminster is all it takes - they will be immortalized in the history books!

For sure the EU has many faults and needs some serious reform, but I can't help thinking that it would be better to be in the tent pissing out.... to paraphrase the wise words of Lyndon Johnson! My apologies, I really must stop beating my keyboard with my fists!
Everything should be made as simple as possible, but no simpler - Einstein
  • #43,655
  • Aug 21, 2019 3:08pm Aug 21, 2019 3:08pm
Quoting claudia1
{quote} What about this: 'Greene King to be sold to Hong Kong's richest family for £2.7bn' Does the UK own anything anymore ? Probably find the Russians own Downing Street.
Could be why it's referred to as Londongrad!
Everything should be made as simple as possible, but no simpler - Einstein
  • #43,656
  • Aug 21, 2019 3:47pm Aug 21, 2019 3:47pm
Quoting Davidh061
{quote} I don't think The Chosen One in the White House is too keen on anything European, he obviously doesn't like the Danes anymore! The opportunity to divide and conquer by fracturing European unity through brexit is too big an opportunity to miss. A few promises of "jam tomorrow" and "this way be unicorns"whispered into the ears of the delusional narcissists in Westminster is all it takes - they will be immortalized in the history books! For sure the EU has many faults and needs some serious reform, but I can't help thinking[/highlight]...
The problem is, looking and waiting for the EU to reform is like asking the turkeys to vote for Christmas...it ain't going to happen. The Germans will implode it anyway once they are ready to convert all their newly moved Euros into gold and ready for the DM to be reborn.

Also, what happened to the rule of ''No Politics'' on the thread, mmm?
  • #43,657
  • Aug 21, 2019 3:55pm Aug 21, 2019 3:55pm
Quoting lemercenaire
{quote} The problem is, looking and waiting for the EU to reform is like asking the turkeys to vote for Christmas...it ain't going to happen. The Germans will implode it anyway once they are ready to convert all their newly moved Euros into gold and ready for the DM to be reborn. Also, what happened to the rule of ''No Politics'' on the thread, mmm?
My fault Lem. Back to the charts tomorrow.

Davidh welcome to the thread.
  • #43,658
  • Aug 22, 2019 12:00am Aug 22, 2019 12:00am
Quoting Davidh061
{quote} I don't think The Chosen One in the White House is too keen on anything European, he obviously doesn't like the Danes anymore! The opportunity to divide and conquer by fracturing European unity through brexit is too big an opportunity to miss. A few promises of "jam tomorrow" and "this way be unicorns"whispered into the ears of the delusional narcissists in Westminster is all it takes - they will be immortalized in the history books! For sure the EU has many faults and needs some serious reform, but I can't help thinking that it would be...
Hi David, you are right. The EU has many faults and needs some serious reform.
That is the problem. Too many Takers.
Unity is far better than being alone, But in this case the UK voted to come out, USA voted Mr Trump in, so this is it.
I would love to write China and Russia have had any sort of vote, but that will not happen for a long time.

So let's stick to making money and posting about wine, newts and shopping.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #43,659
  • Aug 22, 2019 12:06am Aug 22, 2019 12:06am
Cable... 00-00 4 hour bar Low broke for a few.
Dax, 00-00 area. Down it went, which means nothing. We want it up. We have a serious Resistance Level at 11820 area. It could be worth a pop at going Long just for fun lol. ( not i) I trade off lines.
t 06-06
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #43,660
  • Aug 22, 2019 1:09am Aug 22, 2019 1:09am
'Morning all. Billy is up with the lark, I see and is absolutely right about The DAX. one look at the H4 chart and you can see the head-banging going on at that Supply Level I mentioned yesterday.

Down at the sharp end, I dunno' what just happened, as it is all over the place and the spread is even wider than usual, real idiot-spread territory.

Sidelines for now.

Have a good one, everyone.

Oh and red news for the Euro early.
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