Billytt Die happy trading e/j daily breakout | Page 2293 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #45,841
  • Dec 6, 2019 11:02am Dec 6, 2019 11:02am
Quoting ia1979
{quote} 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...
I look at counter as part of the trade method.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,842
  • Dec 6, 2019 11:02am Dec 6, 2019 11:02am
Have a good weekend all......
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45,843
  • Dec 6, 2019 11:27am Dec 6, 2019 11:27am
Quoting billytt
{quote} Keep posting Mr T, hope all is well.
All is well Billy -Have a good weekend.
every Saint has a past. Every Sinner has a Future
  • #45,844
  • Dec 6, 2019 12:04pm Dec 6, 2019 12:04pm
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}
Nah, keep posting charts, T, not boring at all and they can snare a curious passer by who may not want to dig deep into the thread initially.
  • #45,845
  • Dec 6, 2019 12:08pm Dec 6, 2019 12:08pm
Quoting ia1979
{quote} 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...
Yes, absolutely, the tighter the distance between both long and short, the easier it is, otherwise you will tend to find yourself in whipper hell.

This is also why for me personally, I will use WZ to counter, as that means I will be getting into any counter earlier than if I waited for the break of the other side (exception is The Billy Bar as I have noted earlier).
  • #45,846
  • Dec 6, 2019 1:34pm Dec 6, 2019 1:34pm
Quoting ia1979
{quote} 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...
sorry but still think this is bollux.... unless ur a seasoned trader, forget about hedging. And if ur a newbie, defo forget about it. Billyt and lem (etc) are serious traders, with a lot of experience. We cant compete with that.
from experience ive hedged all kinds of huge positions, 10k one way, 10k hedge.....try and sort it out, decide to close one trade (trend is up - defo!), oh no, trade reversed, closed the wrong one - oh shit, im fucked!
lets be serious (and i mean no disrespect), but hedging is for very experienced traders.....better to know where ur entry is, tight stop and play the market....if u lose, swallow it, on to the next one.....
  • #45,847
  • Dec 6, 2019 2:17pm Dec 6, 2019 2:17pm
Quoting Jp1
{quote} sorry but still think this is bollux.... unless ur a seasoned trader, forget about hedging. And if ur a newbie, defo forget about it. Billyt and lem (etc) are serious traders, with a lot of experience. We cant compete with that. from experience ive hedged all kinds of huge positions, 10k one way, 10k hedge.....try and sort it out, decide to close one trade (trend is up - defo!), oh no, trade reversed, closed the wrong one - oh shit, im fucked! lets be serious (and i mean no disrespect), but hedging is for very experienced traders.....better...
I totally agree.

That is also why I have always said that - certainly for the methods I use - don't go the usual hoary route of using a cent acc, so long as it's money, rather than demo.

This style of trading is all about the technique. You must, must, must be 100% comfortable with what you are doing and be able to make the decisions without thinking. I'm sorry but if you are worrying about money, then you cannot concentrate on the technique properly.

If you cannot make it work on demo, then you will never do so live, so it's a win-win situation.

All these methods can be run using a fixed sl, so if that is what you want to do, then you will be successful, just in a different way.
  • #45,848
  • Dec 6, 2019 2:31pm Dec 6, 2019 2:31pm
Quoting lemercenaire
{quote} I totally agree. That is also why I have always said that - certainly for the methods I use - don't go the usual hoary route of using a cent acc, so long as it's money, rather than demo. This style of trading is all about the technique. You must, must, must be 100% comfortable with what you are doing and be able to make the decisions without thinking. I'm sorry but if you are worrying about money, then you cannot concentrate on the technique properly. If you cannot make it work on demo, then you will never do so live, so it's a win-win situation....
Yeh sorry man, i dont mean anything by my chat, but when i see newbies thinking that hedging is easy or the standard thing to do....well, it certainly isnt. Ive tried the lot - made a packet hedging, lost an account hedging.....its for very skilled, seasoned traders who know what they r doing. So people coming to this thread thinking what u and billy do is normal, i just want to make sure they realise its not that simple - it certianly isnt (a few pvt chats from people asking about hedging and thinking its easy)
but obviosuly, when u realise what ur looking at, its much simpler just to trade with a tight stop....without ur guys skills obviosuky!
  • #45,849
  • Edited 3:29pm Dec 6, 2019 3:10pm | Edited 3:29pm
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}
Hi Turnip,
keep posting please, I was going to ask you about what you do.
Is it the break with the short therm momentum price is showing?
What was wrong with the one but last trade?
Thanks
  • #45,850
  • Dec 6, 2019 3:12pm Dec 6, 2019 3:12pm
Quoting ia1979
{quote} 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...
Appreciate your input, I was kind of hoping for a bit of hedging debate.
Cheers
  • #45,851
  • Dec 6, 2019 3:17pm Dec 6, 2019 3:17pm
Quoting Jp1
{quote} Yeh sorry man, i dont mean anything by my chat, but when i see newbies thinking that hedging is easy or the standard thing to do....well, it certainly isnt. Ive tried the lot - made a packet hedging, lost an account hedging.....its for very skilled, seasoned traders who know what they r doing. So people coming to this thread thinking what u and billy do is normal, i just want to make sure they realise its not that simple - it certianly isnt (a few pvt chats from people asking about hedging and thinking its easy) but obviosuly, when u realise...
No worries and no offence taken.

One of the great things about being here in Billy's yard is that we are parked out in the boondocks of the Commercial Section. Because of this, we don't tend to see the casual dropper-in trader looking for the next big thing powered by unicorn sweat.

Most who find themselves here come instead through word of mouth or personal invitation.
  • #45,852
  • Dec 6, 2019 3:20pm Dec 6, 2019 3:20pm
Quoting lemercenaire
{quote} No worries and no offence taken. One of the great things about being here in Billy's yard is that we are parked out in the boondocks of the Commercial Section. Because of this, we don't tend to see the casual dropper-in trader looking for the next big thing powered by unicorn sweat. Most who find themselves here come instead through word of mouth or personal invitation.
unicorn sweat?!? Im gonn have to look me some of that up!
  • #45,853
  • Dec 6, 2019 3:23pm Dec 6, 2019 3:23pm
Quoting tommiho
{quote} Appreciate your input, I was kind of hoping for a bit of hedging debate. Cheers
how r the pivots treating u mate? Digger helped u along?
  • #45,854
  • Dec 6, 2019 3:37pm Dec 6, 2019 3:37pm
Quoting Jp1
{quote} how r the pivots treating u mate? Digger helped u along?
Hi Jp,
yep he is great selfless guy, we had a chat and I have a plenty of homework to do, bit over my head tbh .
You know his charts, still pretty far from what he does.
Need to start posting on the General trading as well to start to learn off my mistakes.
Thanks for the chat earlier .
  • #45,855
  • Dec 6, 2019 7:20pm Dec 6, 2019 7:20pm
Quoting Jp1
{quote} sorry but still think this is bollux.... unless ur a seasoned trader, forget about hedging. And if ur a newbie, defo forget about it. Billyt and lem (etc) are serious traders, with a lot of experience. We cant compete with that. from experience ive hedged all kinds of huge positions, 10k one way, 10k hedge.....try and sort it out, decide to close one trade (trend is up - defo!), oh no, trade reversed, closed the wrong one - oh shit, im fucked! lets be serious (and i mean no disrespect), but hedging is for very experienced traders.....better...
It is definitely not for newbies or small accounts. Like everything else in life, practice makes perfect. A LOT of practice is required here. In the past I've made and lost money hedging. The main difference here is that you don't hedge too far away from your original trigger. Additionally, if you choose not to take the initial break and wait for a retrace trade or a break of the other side, you'll have to hedge less times, but you'll also have less trading opportunities. Hedging works for some and it doesn't work for some. Like I said earlier, each to their own.
  • #45,856
  • Dec 7, 2019 3:29am Dec 7, 2019 3:29am
Quoting Jp1
{quote} unicorn sweat?!? Im gonn have to look me some of that up!
Lol. My mate says it's unicorn sweat my car runs on, I have to fill it up so much
  • #45,857
  • Dec 7, 2019 2:27pm Dec 7, 2019 2:27pm
Inserted Video
  • #45,858
  • Dec 7, 2019 2:57pm Dec 7, 2019 2:57pm
Quoting claudia1
https://www.youtube.com/watch?v=Y3ywicffOj4
Always a goodie, Claudia!

Here's mine

Inserted Video
  • #45,859
  • Dec 7, 2019 3:11pm Dec 7, 2019 3:11pm
Good music. Big match in your city tomorrow got usual bet on.
  • #45,860
  • Dec 7, 2019 5:56pm Dec 7, 2019 5:56pm
Quoting claudia1
Good music. Big match in your city tomorrow got usual bet on.
I have heard rumours of some kind of soccer match going on ;p
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