Billytt Die happy trading e/j daily breakout | Page 2327 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #46,521
  • Jan 21, 2020 4:47am Jan 21, 2020 4:47am
Found this on another thread earlier for anyone interested in pivots.

This does cam, floor, woodie, fib, fib reverse.
Attached File(s)
File Type: mq4 All Pivot Points.mq4   45 KB | 201 downloads
  • #46,522
  • Jan 21, 2020 4:52am Jan 21, 2020 4:52am
Quoting claudia1
{quote} 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.
BLAME BILLY...….. yaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,523
  • Jan 21, 2020 4:54am Jan 21, 2020 4:54am
I think it might be best if people use big stops rather than counter.
You have to have the right approach to counter mentally.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,524
  • Jan 21, 2020 5:01am Jan 21, 2020 5:01am
Quoting billytt
I think it might be best if people use big stops rather than counter. You have to have the right approach to counter mentally.
All depends on the individual, size of account experience etc etc.

Wait for Lem to return I'm sure he'll have some input !
  • #46,525
  • Jan 21, 2020 5:09am Jan 21, 2020 5:09am
Quoting claudia1
{quote} All depends on the individual, size of account experience etc etc. Wait for Lem to return I'm sure he'll have some input !
countering is the way... but like you say EXPERIANCE..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,526
  • Jan 21, 2020 6:52am Jan 21, 2020 6:52am
not bad for starters :-)
Waiting for NY Open now...
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  • #46,527
  • Jan 21, 2020 7:17am Jan 21, 2020 7:17am
Quoting claudia1
{quote} Let's see what happens with this. Have moved the little box looking for a break one or both ways of NY open. {image}
Did ok.
Attached Image (click to enlarge)
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  • #46,528
  • Jan 21, 2020 7:52am Jan 21, 2020 7:52am
Quoting claudia1
{quote} 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.
Makes you feel better
every Saint has a past. Every Sinner has a Future
  • #46,529
  • Jan 21, 2020 8:11am Jan 21, 2020 8:11am
ok... this is killin me
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  • #46,530
  • Jan 21, 2020 8:17am Jan 21, 2020 8:17am
Quoting claudia1
{quote} All depends on the individual, size of account experience etc etc. Wait for Lem to return I'm sure he'll have some input !
So many people follow this thread in invisible mode. Don't understand why lol.

Anyway Claudia, you're obviously very experienced and totally right about account size etc when countering. I was speaking to IG yesterday as I'm about to start trading full time. It turns out to open a position at £50/pip, margin required is over £20,000. That's insane. Imagine you have one position and then a couple of counters. That's £60,000. If I go with their overseas office, the margin required is a lot less. £50/pip would require just over £3k margin per position. Still a lot, but a heck of a lot better than £20k per position. That's on GU by the way. For more exotic pairs, the margin required would be even more. Thanks a lot ESMA!
  • #46,531
  • Jan 21, 2020 8:19am Jan 21, 2020 8:19am
Quoting mtacki
ok... this is killin me {image}
today not good on UC DZ trade (so far).....but it averages out, yesterday was good
  • #46,532
  • Jan 21, 2020 8:20am Jan 21, 2020 8:20am
Quoting ia1979
{quote} So many people follow this thread in invisible mode. Don't understand why lol. Anyway Claudia, you're obviously very experienced and totally right about account size etc when countering. I was speaking to IG yesterday as I'm about to start trading full time. It turns out to open a position at £50/pip, margin required is over £20,000. That's insane. Imagine you have one position and then a couple of counters. That's £60,000. If I go with their overseas office, the margin required is a lot less. £50/pip would require just over £3k margin per...
ESMA might not be an issue when Brexit comes into play.
  • #46,533
  • Jan 21, 2020 8:22am Jan 21, 2020 8:22am
Quoting ia1979
{quote} So many people follow this thread in invisible mode. Don't understand why lol. Anyway Claudia, you're obviously very experienced and totally right about account size etc when countering. I was speaking to IG yesterday as I'm about to start trading full time. It turns out to open a position at £50/pip, margin required is over £20,000. That's insane. Imagine you have one position and then a couple of counters. That's £60,000. If I go with their overseas office, the margin required is a lot less. £50/pip would require just over £3k margin per...
I have a swiss accoiunt but cannot get around to using itr, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,534
  • Jan 21, 2020 8:23am Jan 21, 2020 8:23am
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!
Hi JP1. The way to overcome this is don't take the first break. See if it retraces a bit and then you can either take the break in the original direction again or in the opposite direction All depends on what price does straight after the 1st break. You'll surely miss out on opportunities but it'll also mean you might miss false breaks. I'm sure Lem has mentioned before that this was the approach Bo took on the AU 4am-8am break.
  • #46,535
  • Jan 21, 2020 8:23am Jan 21, 2020 8:23am
Next for 'little box' 16.00 break being London fix/settlement and and old favourite.
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  • #46,536
  • Jan 21, 2020 9:03am Jan 21, 2020 9:03am
Quoting billytt
{quote} I have a swiss accoiunt but cannot get around to using itr, lol
Billy you back on the cider ? What is an accoiunt ?
  • #46,537
  • Jan 21, 2020 9:24am Jan 21, 2020 9:24am
Quoting ia1979
{quote} Hi JP1. The way to overcome this is don't take the first break. See if it retraces a bit and then you can either take the break in the original direction again or in the opposite direction All depends on what price does straight after the 1st break. You'll surely miss out on opportunities but it'll also mean you might miss false breaks. I'm sure Lem has mentioned before that this was the approach Bo took on the AU 4am-8am break.
Hi, this is another way of trading the breakout,
Let it trigger then retrace a bit then trade the original direction, this way if you fail, you lose less, I sometimes do this as well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,538
  • Jan 21, 2020 9:25am Jan 21, 2020 9:25am
Quoting claudia1
{quote} Billy you back on the cider ? What is an accoiunt ?
it is the posh way of saying it, ok yaaar lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #46,539
  • Jan 21, 2020 9:59am Jan 21, 2020 9:59am
Dow
Poor start but got there eventually.
Would have been better if I had stuck to my plans but fear got in the way.
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every Saint has a past. Every Sinner has a Future
  • #46,540
  • Jan 21, 2020 10:18am Jan 21, 2020 10:18am
Quoting ia1979
{quote} So many people follow this thread in invisible mode. Don't understand why lol. Anyway Claudia, you're obviously very experienced and totally right about account size etc when countering. I was speaking to IG yesterday as I'm about to start trading full time. It turns out to open a position at £50/pip, margin required is over £20,000. That's insane. Imagine you have one position and then a couple of counters. That's £60,000. If I go with their overseas office, the margin required is a lot less. £50/pip would require just over £3k margin per...
You could try Micro Futures ( Indices) such as the Dow etc and build up from there ( Don't confuse with day trading shares where you need a big deposit to qualify). But as Claudia says: Brexit may change things relating to 'Spread bet" required deposits.

Example Broker :Futures
every Saint has a past. Every Sinner has a Future
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