Billytt Die happy trading e/j daily breakout | Page 2274 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #45,461
  • Nov 20, 2019 1:46am Nov 20, 2019 1:46am
with Dax, AND any other, we had break of low 00-00 4 hour bar, and then it retraced back into the Dark Zone, we can trade a retrace trade, to either make more ££ or to lessen a loss, should it fail.
I have not done either today. lol
I do do this quite often.
trade well
t 07-46
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,462
  • Nov 20, 2019 2:21am Nov 20, 2019 2:21am
Cable, I am in short, break 08-00 15 bar.

Long gbp/nzd break of 04-00 4 hour bar.
t 08-21
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,463
  • Nov 20, 2019 2:41am Nov 20, 2019 2:41am
Quoting billytt
{quote} Hi H and welcome... I do not believe in the words FALSE BREAKOUT, most of these (((false breakout's) are where I make my money. I had a fail so I put on a counter trade at the opposite end of bar/candle, I also added another trade. I was then -10 points/pips. I then made +5% (of my bank roll) so I still had a counter running at -10...... I then traded the break of the 00-00 4 hour bar, it was a short , I made the 10 points and closed. something totally different I also traded the 00-00 High break and then the low , looking for the daily...
Thanks Billytt for such fast reply
I think I finally understand your trade management.
Some questions again

* Do you trade the 00-00 4h with the same lot size as 08-00 15m? (If not then the 10 points you made later yesterday couldn't compensate for the floating -10 pips lost)

* Do you still trade retracement? Like when it breaks high but you wait until it retraces to below high and THEN enter long? If yes, how many pips do you wait for that retracement?

* 5% is your net profit, right?
Do I understand this correctly?
- If you trade without commission, your trade will be triggered before price actually break high/low of the bar
- If you trade with commission, you will have to take profit at 5p+commission (eg. 5.7 pips)


Thanks again and green pips to you
  • #45,464
  • Nov 20, 2019 2:45am Nov 20, 2019 2:45am
Cable, 08-00 15 minute bar. Low broke for 5%.
the 00-00 4 hour bar low broke which I am short.
trade well
t 08-45
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,465
  • Nov 20, 2019 2:58am Nov 20, 2019 2:58am
Quoting hoaei
{quote} Thanks Billytt for such fast reply I think I finally understand your trade management. Some questions again * Do you trade the 00-00 4h with the same lot size as 08-00 15m? (If not then the 10 points you made later yesterday couldn't compensate for the floating -10 pips lost) * Do you still trade retracement? Like when it breaks high but you wait until it retraces to below high and THEN enter long? If yes, how many pips do you wait for that retracement? * 5% is your net profit, right? Do I understand this correctly? - If you trade without...
Hi, in here I try to explain simple.
Therefore I omit commission, spread etc.
I enter trade on the exact price not the buy/sell price, so entry/exit is adjusted.

Some will argue and quite rightly, if I counter, I still lose. But this sells, you only lose if you close a trade.
If I start trading on Monday with 100 and on Fri I have 125, I have made 25% (example of 100 means nothing).
All my 08-00 trades I look for 5%, many many times I make more, but the extra % goes to help correct a fail, it is money management.
Monday I have 100 ,Thur I have 150 and Fri I have 125, I want the 25% , it does not matter that I had 50% on Wednesday.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,466
  • Nov 20, 2019 3:05am Nov 20, 2019 3:05am
Good morning all, from a dreich and miserable looking morning in not-so-Bonny Scotland.

Nothing for me this morning as I am not at home and can't be ar*** dragging out the laptop to check what's going on.

Hopefully there will be tons of pips going begging that I will miss but y'all will stick into the bank.

I will check back in later as always.

Trade well all.
  • #45,467
  • Nov 20, 2019 3:49am Nov 20, 2019 3:49am
Cable, has retraced back into the Dark Zone, Bias is still short, so nothing stopping us shorting again. (I am not) Range is 28.
t 09-49
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,468
  • Edited 6:10am Nov 20, 2019 4:14am | Edited 6:10am
Quoting billytt
Cable, has retraced back into the Dark Zone, Bias is still short, so nothing stopping us shorting again. (I am not) Range is 28. t 09-49
edit at 10-12 these retrace trades are better the further into the dark Zone they go.
They are good to just stumble upon as you browse .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,469
  • Nov 20, 2019 4:36am Nov 20, 2019 4:36am
I wish Mr Trump would kiss and make up with the Chinese,
He is forcing Dax down, I haven't traded it today (bad move on my part). and its almost at its Daily range of 143.

Once oit goes back up I will be waiting.
trade well all.
t 10-35
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,470
  • Nov 20, 2019 5:36am Nov 20, 2019 5:36am
gbp/nzd my bias is short, we have had a couple of chances for retrace trades.
It has just dropped through the 04-00 4 hour bar dark Area.
as of yet we have a range of 60 which is nothing, the daily range is 184.
So I think its gonna go.
t 11-36
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,471
  • Nov 20, 2019 5:57am Nov 20, 2019 5:57am
No trading today. A bemused grandad has bought a bridge camera for 7 year old grandson as a Christmas present. I am presently going through online manuals to get a rough idea of set up and controls. Have downloaded a "get started" guide, in enhanced print size ( 11 pages,) and put them into a folder for him. The camera comes with a multi-lingual "get started" guide but the print and images are too small, in my opinion and it is nice to have an enhanced guide in a little folder I have acquired for him. There is also a huge , 241 page, online manual but he can look at that, with his dad !
Mrs T thinks I should get a camera bag and shoulder strap ( in addition to the memory card I bought) to make his gift complete. I feel a shopping trip coming on.
Have a good day all.
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every Saint has a past. Every Sinner has a Future
  • #45,472
  • Nov 20, 2019 6:15am Nov 20, 2019 6:15am
Quoting billytt
{quote} edit at 10-12 these retrace trades are better then further into the dark Zone they go. They are good to just stumble upon as you browse .
Hi Billytt, I understand that your 00-00 4h lot size is smaller than your main 08-00 15m, is it 1/5 or 1/10 or... smaller than the main trades? Can you tell me?

Did you enter short trades on 00-00 4h low break of these 3 candles (red vertical lines)?

What will you do when seeing retracement in 00-00 4h trades, do you countertrade or retrace trade?

One more thing, do you aim for only 10 pips on those 4h trades or do you shoot for daily ADR?

Thank you

https://charts.mql5.com/22/841/gbpus...al-markets.png
  • #45,473
  • Nov 20, 2019 6:40am Nov 20, 2019 6:40am
Quoting hoaei
{quote} Hi Billytt, I understand that your 00-00 4h lot size is smaller than your main 08-00 15m, is it 1/5 or 1/10 or... smaller than the main trades? Can you tell me? Did you enter short trades on 00-00 4h low break of these 3 candles (red vertical lines)? What will you do when seeing retracement in 00-00 4h trades, do you countertrade or retrace trade? One more thing, do you aim for only 10 pips on those 4h trades or do you shoot for daily ADR? Thank you https://charts.mql5.com/22/841/gbpus...al-markets.png
Hi, I may have to post several times to make it easier.
My 08-00 15 minute bar trade is my main trade which I use big lot size. I am currently trading for a Greek lady friend (actually I haven't seen her for months) and also a guy.
With my Frequency Distribution Stats, once I have a Fail I then counter and trade the other end. This then leads me into trading off the 00-00 4 hour bar .
The 00-00 bar is very important as it indicates the daily range possibilities.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,474
  • Nov 20, 2019 6:52am Nov 20, 2019 6:52am
Quoting hoaei
{quote} Hi Billytt, I understand that your 00-00 4h lot size is smaller than your main 08-00 15m, is it 1/5 or 1/10 or... smaller than the main trades? Can you tell me? Did you enter short trades on 00-00 4h low break of these 3 candles (red vertical lines)? What will you do when seeing retracement in 00-00 4h trades, do you countertrade or retrace trade? One more thing, do you aim for only 10 pips on those 4h trades or do you shoot for daily ADR? Thank you https://charts.mql5.com/22/841/gbpus...al-markets.png
Hi, you will see I am also trading (with a friend) Dax, FTSE and gbp/nzd , these are using small lot sizes. and hunting the daily range (or part of it).
These trades are separate from my main trade.
I do not open links on this thread so I cannot answer your question.

To make it simple, I have a fail on the main trade, I will then recoup loss by chasing the daily range.

Daily Range is probably the most important aid we can have . we just need the trigger and stats.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,475
  • Nov 20, 2019 7:36am Nov 20, 2019 7:36am
Quoting billytt
{quote} Hi, you will see I am also trading (with a friend) Dax, FTSE and gbp/nzd , these are using small lot sizes. and hunting the daily range (or part of it). These trades are separate from my main trade. I do not open links on this thread so I cannot answer your question. To make it simple, I have a fail on the main trade, I will then recoup loss by chasing the daily range. Daily Range is probably the most important aid we can have . we just need the trigger and stats.
Thank you for all your replies, sorry for so much bothering. I hope you trade well
  • #45,476
  • Nov 20, 2019 3:38pm Nov 20, 2019 3:38pm
Hi Billy/Lem,

When you talk about retrace trades, do you mean price retracing but our bias remaining towards the original break, so opening a trade in the direction of the original break, potentially getting in at a better price? Or do you mean price retracing and breaking the other end, causing us to open a trade in the opposite direction of the original break? I hope my question makes sense. Thanks.
  • #45,477
  • Nov 20, 2019 5:11pm Nov 20, 2019 5:11pm
Quoting ia1979
Hi Billy/Lem, When you talk about retrace trades, do you mean price retracing but our bias remaining towards the original break, so opening a trade in the direction of the original break, potentially getting in at a better price? Or do you mean price retracing and breaking the other end, causing us to open a trade in the opposite direction of the original break? I hope my question makes sense. Thanks.
Hi buddy.

For me, when I say I am going in on the retrace, I mean I am trading in the opposite direction to the original move. So for instance I may have had a short break and if it failed, gone in on a WZ move back into the body. That would be a retrace trade for me. This could also be covered by running a ''Spike-Hunt'', or jumping on board as price moves back towards a Z-Line (rarer than waiting for price to get to the Z-Line and playing it back - as noted below).

You can however also trade the retrace by waiting for the retrace to happen and then go in as it reverts back in the original direction. that for me would be either fading the edge or entering a Z-Line trade.
  • #45,478
  • Nov 20, 2019 11:37pm Nov 20, 2019 11:37pm
Quoting ia1979
Hi Billy/Lem, When you talk about retrace trades, do you mean price retracing but our bias remaining towards the original break, so opening a trade in the direction of the original break, potentially getting in at a better price? Or do you mean price retracing and breaking the other end, causing us to open a trade in the opposite direction of the original break? I hope my question makes sense. Thanks.
morning at 05-36 am, what a question for so early a time, lol. Hope you are well.
I shall answer your question after a coffee.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,479
  • Nov 20, 2019 11:38pm Nov 20, 2019 11:38pm
I have stuck a quick short on gbp/nzd off the 00-00 4 hour bar, Range of 40. normally it would be off the 04-00 4 hour bar. small lot.
t 05-38
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,480
  • Nov 20, 2019 11:47pm Nov 20, 2019 11:47pm
Quoting ia1979
Hi Billy/Lem, When you talk about retrace trades, do you mean price retracing but our bias remaining towards the original break, so opening a trade in the direction of the original break, potentially getting in at a better price? Or do you mean price retracing and breaking the other end, causing us to open a trade in the opposite direction of the original break? I hope my question makes sense. Thanks.
My Bias, is totally mine and mine alone, just as Lem has his Bias..
My bias is based off the first break either High/Low of the 00-00 4 hour bar, UK time....

Live call. right now t 05-42 Cable 00-00 4 hr bar High = 12933 and Low = 12924, so range is 9. <<< I prefer higher range.

Which ever end breaks first High or Low will be the Bias.
I always want one end to break and then reverse, to move opposite direction of Bias, this is what I call Daily Range Hunting. ( or part of it).
My Bias has nothing to do with trend , trend means nothing to me.
Trade well. ask questions.
time now 05-47 am

edit at t 05-50The low trigger has to be a whole number.
today Cable 00-00 4 hr bar low = 12924.7 My trigger would be 12924 not 12924.7 .
Back test these breaks an see how often entering on the (point something) the trade fails.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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