Billytt Die happy trading e/j daily breakout | Page 2326 | 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

  • #46,501
  • Jan 21, 2020 3:50am Jan 21, 2020 3:50am
Quoting billytt
Cable, 00-00 4 hour break. High =13014...…...Low = 13014 range is 19. typing this right now the price is 13003, we can try a retrace trade, if it goes up we can make extra or if it fails we lose 8 (not 19). we have a 00 near biut it has already been breached. we may be on a fail, but lets hope it goes back up. t 08-06
so in this case, if the retrace trade fails as well, i would assume we lose trade 1: 19, then trade 2: 8, in total 27......if ur using a stop on the low of the 15m bar?

agree with ia1979 - ive always thought these retrace trades were counter trades!
  • #46,502
  • Jan 21, 2020 3:51am Jan 21, 2020 3:51am
Quoting ia1979
{quote} I see the attraction of retrace trades (going in the direction of the original break but only after price has retraced a bit). Retrace trade could mean different things to different people so I thought I would clarify. When I first started following this thread, to me a retrace trade meant going in the OPPOSITE direction of the original break.
Hi, you are correct, perhaps I could of clarified, #you will find that I do say bwhat bi am doing but I cannot update this info every day.

normally I would high broke then retraced down to break low, <<<< I say this very rarely.
if high breaks and retrace down I do say. meaning we have opportunity to long/retrace trade.

A retrace trade is good if you happen to look at a chart and think HEY we have an opportunity. close to a fail and you wont lose much.
I wouldn't trade retrace all of the time but I do...
I hope you understand, I can try and simplify it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,503
  • Jan 21, 2020 3:52am Jan 21, 2020 3:52am
usd/chf look at this.high broke and retraced down, we can go long again with a retrace trade.

I am long .
t 09-52
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,504
  • Jan 21, 2020 3:59am Jan 21, 2020 3:59am
Quoting Jp1
{quote} so in this case, if the retrace trade fails as well, i would assume we lose trade 1: 19, then trade 2: 8, in total 27......if ur using a stop on the low of the 15m bar? agree with ia1979 - ive always thought these retrace trades were counter trades!
yes correct, trade 1 + trade 2. if they both fail we lose combined total.
I do not retrace trade every trade.

Don't forget my stats for instance on the 08-00 15 minute bar, my stats are for 10 points/pips BUT I TAKE %, my lot size I actually half it, I am stacking odds in my favour. I always take less.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,505
  • Jan 21, 2020 4:03am Jan 21, 2020 4:03am
Quoting billytt
Cable 08-00 break, the low failed, I am now long with a counter, I have made 5% off the high and now going to fix the fail. t08-50
although in this case, ur counter is the opposite to the first trade! So looks like u do both (unless ive miss understood)
  • #46,506
  • Jan 21, 2020 4:14am Jan 21, 2020 4:14am
Quoting Jp1
{quote} although in this case, ur counter is the opposite to the first trade! So looks like u do both (unless ive miss understood)
08-00 bar, I was short and it failed , -16. next trade I went long off the high plus a counter.
my long made 5% which I banked and let rest it run.
I have a counter running. but the other trade clawed it back.


Then we have the 00-00 4 hour bar trade. I was long ,looking for 20 which I got. I am not saying if I also had a retrace trade

Retrace trades I use to off set and losses. sometime I also use inside bar trades to off set a loss.
As long as I have X amount at end of week I will keep doing it
I want for instance 25, not 30 not 40 not 100
I have se

Trade well.t goals.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,507
  • Jan 21, 2020 4:14am Jan 21, 2020 4:14am
Basically hedging and you need a decent account and be prepared to add to losing positions. Been there done it's all in the thread - think hit £100/point one day with multiple trades - David RP will recall wherever he is.

These days I find it much easier to just set orders either side of a range. Little box played out again today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 75 KB
  • #46,508
  • Jan 21, 2020 4:18am Jan 21, 2020 4:18am
Quoting claudia1
Basically hedging and you need a decent account and be prepared to add to losing positions. Been there done it's all in the thread - think hit £100/point one day with multiple trades - David RP will recall wherever he is. These days I find it much easier to just set orders either side of a range. Little box played out again today. {image}
and again, that is a brill method and simple.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,509
  • Jan 21, 2020 4:22am Jan 21, 2020 4:22am
Quoting billytt
{quote} and again, that is a brill method and simple.
It is so simple. All I do with that is set say a 10 s/l and a 20 t/p maybe use a trail. Its not a million miles away from SSBO is it.
  • #46,510
  • Jan 21, 2020 4:24am Jan 21, 2020 4:24am
Quoting claudia1
{quote} It is so simple. All I do with that is set say a 10 s/l and a 20 t/p maybe use a trail. Its not a million miles away from SSBO is it.
I read that whole thread last time you posted it... I was seeing boxes in my dreams
  • #46,511
  • Jan 21, 2020 4:27am Jan 21, 2020 4:27am
took +20 (which was also S/R level/TP area, so I am still following my TP rules) on 00-00 4 hr trade GU. was in that one, so did not trade 15 min bar break. ALSO took a nap as it is the middle of the night here lol Just made a couple pips scalping the R2 pivot level and 50% fib on a swing on GU.
  • #46,512
  • Jan 21, 2020 4:30am Jan 21, 2020 4:30am
Quoting BrokeCollege
{quote} I read that whole thread last time you posted it... I was seeing boxes in my dreams
Lol was quite a big thread if I remember. Hope you picked something up from it and dreams weren't nightmares !
  • #46,513
  • Jan 21, 2020 4:32am Jan 21, 2020 4:32am
Quoting claudia1
{quote} Lol was quite a big thread if I remember. Hope you picked something up from it and dreams weren't nightmares !
I used to prefer reversals, now I do not.
  • #46,514
  • Jan 21, 2020 4:33am Jan 21, 2020 4:33am
Quoting BrokeCollege
took +20 (which was also S/R level/TP area, so I am still following my TP rules) on 00-00 4 hr trade GU. was in that one, so did not trade 15 min bar break. ALSO took a nap as it is the middle of the night here lol Just made a couple pips scalping the R2 pivot level and 50% fib on a swing on GU.
nice one,,,, you might miss money if you nap, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,515
  • Jan 21, 2020 4:35am Jan 21, 2020 4:35am
AND ANOTHER, and this can seem nuts as I pay costs for keeping trade open.

we counter a Fail. I will also counter a win.... hmmmmmmmmmmmmmmmm
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,516
  • Jan 21, 2020 4:37am Jan 21, 2020 4:37am
Quoting BrokeCollege
{quote} I used to prefer reversals, now I do not.
Let's see what happens with this. Have moved the little box looking for a break one or both ways of NY open.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 75 KB
  • #46,517
  • Jan 21, 2020 4:40am Jan 21, 2020 4:40am
Quoting claudia1
{quote} It is so simple. All I do with that is set say a 10 s/l and a 20 t/p maybe use a trail. Its not a million miles away from SSBO is it.
yes agree with that....im definitely a stop and target at entry trader.....maybe move stop to BE if going for more than 10pips......get myself in a right pickle counter trading or adding to losses. Have taken some huge hits on gold doing that in the past
  • #46,518
  • Jan 21, 2020 4:42am Jan 21, 2020 4:42am
Speaking of reversals... GU is in an interesting position and is setting up nicely.
Attached Image (click to enlarge)
Click to Enlarge Name: GU reversal area.png Size: 58 KB
  • #46,519
  • Jan 21, 2020 4:43am Jan 21, 2020 4:43am
Quoting Jp1
{quote} yes agree with that....im definitely a stop and target at entry trader.....maybe move stop to BE if going for more than 10pips......get myself in a right pickle counter trading or adding to losses. Have taken some huge hits on gold doing that in the past
If you lose just blame Billy.

Trouble with move stop to BE is you're telling MT4 when to widen the spread and take you out. Same with trailing stop. But it's better than losing.
  • #46,520
  • Jan 21, 2020 4:43am Jan 21, 2020 4:43am
Quoting BrokeCollege
Speaking of reversals... GU is in an interesting position and is setting up nicely. {image}
Although, the day has a lot of momentum long...
23 traders viewing now