Billytt Die happy trading e/j daily breakout | Page 2292 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #45,821
  • Dec 5, 2019 9:04am Dec 5, 2019 9:04am
Dow - short did okay today after waiting.
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every Saint has a past. Every Sinner has a Future
  • #45,822
  • Dec 5, 2019 2:04pm Dec 5, 2019 2:04pm
Quoting claudia1
{quote} We're not a million miles away from the year high. Boris and his election could just test that. Tomorrow a big day with NFP and lots more. Looks like a U/Cad afternoon. Throw in OPEC meetings here we go. ADP was worse than expected which is usually a good indicator for NFP - meaning $ falls £ rises as we are seeing. {image}
Donald index back to t/l. All adding up.
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  • #45,823
  • Dec 5, 2019 3:06pm Dec 5, 2019 3:06pm
Quoting claudia1
{quote} Donald index back to t/l. All adding up. {image}
Running in to NY close and consolidating again. Tomorrow will be fun - 3250 ?
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  • #45,824
  • Dec 6, 2019 1:00am Dec 6, 2019 1:00am
Morning all,,,, IT'S NFP DAY.

Cable..... 00-00 4 hour bar break.. range is 10,, High has already broke and I am Long. Primarily looking for 20points.

My ADR today is 78. at 06-50 adr High was 13231 & Low 13087.

Trade well all.
t now 07-00
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,825
  • Dec 6, 2019 1:03am Dec 6, 2019 1:03am
AND,,,,,, I would like Cable to drop,,,,,,
t 07-03
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,826
  • Dec 6, 2019 1:37am Dec 6, 2019 1:37am
Cable,,,, Now short, I feel gooooooooooooood now.

1 counter and 1 trade.
t 07-37
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,827
  • Dec 6, 2019 1:39am Dec 6, 2019 1:39am
Quoting billytt
Cable,,,, Now short, I feel gooooooooooooood now. 1 counter and 1 trade. t 07-37
Billy's on a roll!
  • #45,828
  • Dec 6, 2019 2:15am Dec 6, 2019 2:15am
Not trading today but was yesterday. Was hedging and rehedging and somehow got out of the failed 15 min L. Not something I would be able to pull off when live. Definitely need to improve my plan B when that happens.
Good luck today, as Billy said NFP.
  • #45,829
  • Dec 6, 2019 2:21am Dec 6, 2019 2:21am
Quoting tommiho
Not trading today but was yesterday. Was hedging and rehedging and somehow got out of the failed 15 min L. Not something I would be able to pull off when live. Definitely need to improve my plan B when that happens. Good luck today, as Billy said NFP.
Can I ask why you say you wouldn't be able to pull it off when live? Just account size? Or something else?
  • #45,830
  • Dec 6, 2019 2:30am Dec 6, 2019 2:30am
Quoting lemercenaire
{quote} Billy's on a roll!
Roll, definitely.....
cable 08-00 15 minute bar break..... Low broke for +5%.
I also had a smaller lot size retrace trade on.

00-00 4 hour bar.. high broke was I suppose classed as a fail, but I recouped it and still have a short running...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,831
  • Dec 6, 2019 2:38am Dec 6, 2019 2:38am
Cable , my adr
Due to price movement , we have adjusted the low. it is still adr 87.

High was 13231 but now 13231 <<<< still the same.
Low was 13087 but now 13087 changed , at 08-25

time now 08-38
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,832
  • Edited 6:08am Dec 6, 2019 3:31am | Edited 6:08am
Quoting tommiho
Not trading today but was yesterday. Was hedging and rehedging and somehow got out of the failed 15 min L. Not something I would be able to pull off when live. Definitely need to improve my plan B when that happens. Good luck today, as Billy said NFP.
Hi Tom.
It is good you are thinking.
I counter, but to do this I need a big bank <<< especially now with the ridiculous margin rates.
They say this is to help the retail traders, It doesn't!!!! it just takes them longer to lose their money.

as an aid, we can just trade off a retrace trade ,
we can also compound, BUT we increase the lot size very slowly, this way we can increase our bank slowly over time with less risk.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,833
  • Dec 6, 2019 7:11am Dec 6, 2019 7:11am
Quoting tommiho
Not trading today but was yesterday. Was hedging and rehedging and somehow got out of the failed 15 min L. Not something I would be able to pull off when live. Definitely need to improve my plan B when that happens. Good luck today, as Billy said NFP.
Generally hedging once is enough. Your loss is then locked in. Then look for other trades/clues. Billy uses the 12-4am 4 hour bar. Claudia and Lem use their own methods. This thread has so many nuggets of gold. Hedging and rehedging can get one into trouble faster than you can say margin call. But if you have a large bank roll, then it should not be an issue to hedge and rehedge. That's the beauty of the 8-8:15am bar break. It is bound to move one way or another soon enough.
  • #45,834
  • Dec 6, 2019 8:11am Dec 6, 2019 8:11am
Quoting ia1979
{quote} Generally hedging once is enough. Your loss is then locked in. Then look for other trades/clues. Billy uses the 12-4am 4 hour bar. Claudia and Lem use their own methods. This thread has so many nuggets of gold. Hedging and rehedging can get one into trouble faster than you can say margin call. But if you have a large bank roll, then it should not be an issue to hedge and rehedge. That's the beauty of the 8-8:15am bar break. It is bound to move one way or another soon enough.
Spot on. That is the one thing most newcomers to the concept get wrong initially. They don't realise that the hedge part is to lock in the bad trade. You then can and indeed should, leave it alone, until your next major trade trigger comes along.

That could be in the next hour, the next four hours or the next day, whenever. The important part is, it doesn't matter, as the initial bad negative is now a locked-in floating "loss" and can, in theory, be unwound completely, so both sides of the hedge end up green.

However, that is not necessary, as at its most basic, all you are looking to do is stop it ever getting any worse and then covering the negative the next time you enter a trade.
  • #45,835
  • Dec 6, 2019 8:52am Dec 6, 2019 8:52am
Quoting lemercenaire
{quote} Spot on. That is the one thing most newcomers to the concept get wrong initially. They don't realise that the hedge part is to lock in the bad trade. You then can and indeed should, leave it alone, until your next major trade trigger comes along. That could be in the next hour, the next four hours or the next day, whenever. The important part is, it doesn't matter, as the initial bad negative is now a locked-in floating "loss" and can, in theory, be unwound completely, so both sides of the hedge end up green. However, that is not necessary,...
in principle hedging sounds like a fairly straight forward technique......but from personal experience, this is a very hard thing to master. Learning when to cut one and let one run is very hard.....and in the end, it was just easier (for me) to cut the loss and start again, rather than having locked in negative pnl and trying to manage it. It usually takes over, and u stop looking for other opportunities coz ur trying to work out how to get out of the current mess. Well thats just my opinion....for more experienced traders i guess its an easy solution to not take losses
  • #45,836
  • Dec 6, 2019 8:57am Dec 6, 2019 8:57am
Quoting Jp1
{quote} in principle hedging sounds like a fairly straight forward technique......but from personal experience, this is a very hard thing to master. Learning when to cut one and let one run is very hard.....and in the end, it was just easier (for me) to cut the loss and start again, rather than having locked in negative pnl and trying to manage it. It usually takes over, and u stop looking for other opportunities coz ur trying to work out how to get out of the current mess. Well thats just my opinion....for more experienced traders i guess its an...
you got it.
It starts with having a high strike rate , and the stats to work off.
plus the ice cold emotions to carry the trade and stick to the method.
Like Lem says, if I have a fail ,I counter and hold the loss in limbo, then go to the next part of the trade, whether an hour later or the next day.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,837
  • Dec 6, 2019 8:59am Dec 6, 2019 8:59am
Quoting Jp1
{quote} in principle hedging sounds like a fairly straight forward technique......but from personal experience, this is a very hard thing to master. Learning when to cut one and let one run is very hard.....and in the end, it was just easier (for me) to cut the loss and start again, rather than having locked in negative pnl and trying to manage it. It usually takes over, and u stop looking for other opportunities coz ur trying to work out how to get out of the current mess. Well thats just my opinion....for more experienced traders i guess its an...
Yep Jp something like that ...
I also Like what guys mentioned above.
All good points.
  • #45,838
  • Dec 6, 2019 10:13am Dec 6, 2019 10:13am
No trading this morning but back for the Dow. Not too bad - bit hesitant me thinks.
Will not post anymore charts after this since it must appear boring and repetitive after a while. Well -it is to me

Trade well all.
Edit : This is a Dow Micro Future with AMP Futures.
Edit of Edit: The second long on the Left was a better set up -note how tail dropped below Big Round Number then closed above -that was my signal to go long with some confidence - well - more confidence than the first trade
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every Saint has a past. Every Sinner has a Future
  • #45,839
  • Dec 6, 2019 10:29am Dec 6, 2019 10:29am
Quoting tommiho
{quote} Yep Jp something like that ... I also Like what guys mentioned above. All good points.
Sometimes hedging sooner rather than later can make it easier to unwind the hedge. For example if your hedge is less than 15 pips from the original trade, it should not be too difficult to recover from it, and possible to turn both trades green. But if you place a hedge 30 pips + away from the original trade, you're probably too late (I speak from experience). Personally for me I think I prefer a hedge distance of 10 pips or less. Each to their own. Disclaimer: I'm certainly not an expert in hedging but have learnt a lot from reading the techniques right here. This is by far one of the best forex threads anywhere. Can't even remember how I originally got here but am I glad I did!
  • #45,840
  • Dec 6, 2019 11:01am Dec 6, 2019 11:01am
Quoting turnip15
No trading this morning but back for the Dow. Not too bad - bit hesitant me thinks. Will not post anymore charts after this since it must appear boring and repetitive after a while. Well -it is to me Trade well all. Edit : This is a Dow Micro Future with AMP Futures. Edit of Edit: The second long on the Left was a better set up -note how tail dropped below Big Round Number then closed above -that was my signal to go long with some confidence - well - more confidence than the first trade {image}
Keep posting Mr T, hope all is well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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