Billytt Die happy trading e/j daily breakout | Page 2373 | 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

  • #47,441
  • Feb 26, 2020 2:27am Feb 26, 2020 2:27am
The Billy-Bar has also not followed through on a short move, as expected. There is a Demand Zone now sitting there. I'd be playing off that if I was to go in on anything.
  • #47,442
  • Feb 26, 2020 2:28am Feb 26, 2020 2:28am
Quoting lemercenaire
The Not-The-Billy-Bar would be in a counter after the short break turned back after a 2-pip move only. I don't like the Billy-Bar set-up, I'm afraid, so if nothing changes, I'll be leaving it.
I actually shorted it on the break around the low at 1.29804
Price reversed into the lower wick zone IMMEDIATELY and is now hovering around there...

Let's see how it goes :-/
  • #47,443
  • Feb 26, 2020 2:55am Feb 26, 2020 2:55am
Quoting mtacki
{quote} I actually shorted it on the break around the low at 1.29804 Price reversed into the lower wick zone IMMEDIATELY and is now hovering around there... Let's see how it goes :-/
Well, you gotta' be in it to win it, so good on ya'.

Just stay calm and steady and you will come good on it. Don't chase it.
  • #47,444
  • Feb 26, 2020 3:02am Feb 26, 2020 3:02am
well well well

it could not have been worse

shorted on the break low
countered (too late abviously) on the move up
Then it went nuts and ripped me apart...
Both stops were triggered.

Those are the days I'm willing to leave it all behind :-/
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 42 KB
  • #47,445
  • Feb 26, 2020 3:16am Feb 26, 2020 3:16am
Cable 08-00 15 minute bar break.

the low break failed BUT, i repeat but. i extended the 08-00 range of 12 to 15, as i say. and this allowed me to keep the short.
So i got the +5%, it does work and can fail. i did the same last week or week before.
t 09-15
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,446
  • Feb 26, 2020 4:22am Feb 26, 2020 4:22am
Quoting lemercenaire
{quote} Why you never hold trades on The Monster - especially around the Open, lol... {image}
Dax Morning to 10am. Good run this morning to make for other hit and run days. One loser and then the run short began.
Attached Image (click to enlarge)
Click to Enlarge Name: DaxWeds26F.png Size: 520 KB
every Saint has a past. Every Sinner has a Future
  • #47,447
  • Feb 26, 2020 4:25am Feb 26, 2020 4:25am
Quoting billytt
Cable 08-00 15 minute bar break. the low break failed BUT, i repeat but. i extended the 08-00 range of 12 to 15, as i say. and this allowed me to keep the short. So i got the +5%, it does work and can fail. i did the same last week or week before. t 09-15
Billy -the 8am to 8:15am bar had a small body and very long wicks - would this have some bearing on the difficulty experienced by some to make the target you set?

Lem -the above would make "wick zone' trades virtually untenable ?
every Saint has a past. Every Sinner has a Future
  • #47,448
  • Feb 26, 2020 4:32am Feb 26, 2020 4:32am
Quoting turnip15
{quote} Billy -the 8am to 8:15am bar had a small body and very long wicks - would this have some bearing on the difficulty experienced by some to make the target you set? Lem -the above would make "wick zone' trades virtually untenable ?
Hi Mr T, hope all is well,
The 08-00 bar was 12. normally when it is under 15 i will adjust it manually to 15. hopefully to avoid whip.
Sometimes i don't do it, it is getting back to that feel one has, which robots cannot replicate.

Thing is, even if i had gone long i would of fixed it. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,449
  • Feb 26, 2020 4:41am Feb 26, 2020 4:41am
Quoting mtacki
well well well it could not have been worse shorted on the break low countered (too late abviously) on the move up Then it went nuts and ripped me apart... Both stops were triggered. Those are the days I'm willing to leave it all behind :-/ {image}
this kind of thing happens quite regularly, and as Billy and Lem always say, its how u manage it once ur in. Ive had whipsaw days when im about 6 counters in! Not sure if it helps now (as its always easy in hindsight!), but i try and alleviate some of the whipsaw in a couple of ways.

1. As billy said, sometimes useful to widen the 8am bar, especially if ranging a bit before / after london open - yellow lines below
2. Your counter on the short, it only went 2 or 3 ticks over the top of the billy bar.....my spread is 3 on GU anyway, so i would always put it about 5 - 10 ticks above the line
3. Once ive entered, i always have a pending counter order on the opposite side of the bar straight away. So even in your scenario today, short failed, long failed, third trade waiting on the 8am low would have creamed it

Also a Q and D PP mixed in there too, worth keeping an eye on - my thoughts anyway...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 8am 20200226.JPG Size: 262 KB
  • #47,450
  • Feb 26, 2020 4:46am Feb 26, 2020 4:46am
Quoting Jp1
{quote} this kind of thing happens quite regularly, and as Billy and Lem always say, its how u manage it once ur in. Ive had whipsaw days when im about 6 counters in! Not sure if it helps now (as its always easy in hindsight!), but i try and alleviate some of the whipsaw in a couple of ways. 1. As billy said, sometimes useful to widen the 8am bar, especially if ranging a bit before / after london open - yellow lines below 2. Your counter on the short, it only went 2 or 3 ticks over the top of the billy bar.....my spread is 3 on GU anyway,...
Where your yellow lines sit is also around support and resistance, something that Lem talks about often and something I look for in other trades albeit not strictly Billy trades. Good thinking on your part, congrats on the trade.
every Saint has a past. Every Sinner has a Future
  • #47,451
  • Feb 26, 2020 4:58am Feb 26, 2020 4:58am
Quoting turnip15
{quote} Where your yellow lines sit is also around support and resistance, something that Lem talks about often and something I look for in other trades albeit not strictly Billy trades. Good thinking on your part, congrats on the trade.
i would love to say i took that GU trade mate, but i didnt, was too busy on gold

Where GU moves 50pips......Gold moved almost 100 in an hour....lovely stuff, and no whipsaw for once, nice and clean break north
Attached Image (click to enlarge)
Click to Enlarge Name: XAU 8am 20200226.JPG Size: 178 KB
  • #47,452
  • Feb 26, 2020 5:05am Feb 26, 2020 5:05am
Not traded by me - gone 10am but.................as an example of price action...
Levels -case in point. The way price is tightening here would have me out of this trade had I shorted at circle ( back to grabbing small bunches pips or hit and run) . Then wait to see where it headed if looking to get back in.
Attached Image (click to enlarge)
Click to Enlarge Name: DaxTest26.png Size: 577 KB
every Saint has a past. Every Sinner has a Future
  • #47,453
  • Edited 5:29am Feb 26, 2020 5:10am | Edited 5:29am
Quoting Jp1
{quote} i would love to say i took that GU trade mate, but i didnt, was too busy on gold Where GU moves 50pips......Gold moved almost 100 in an hour....lovely stuff, and no whipsaw for once, nice and clean break north {image}
GOLD ? - Viewed this guy trading gold on a one minute !

Edit: But if it's not trending?
Quick glance shows 15 or 5 minute better because you have a chance to look left at nearby levels. Not tested by me but might take a look now -your fault Jp1

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #47,454
  • Feb 26, 2020 5:24am Feb 26, 2020 5:24am
Quoting turnip15
Not traded by me - gone 10am but.................as an example of price action... Levels -case in point. The way price is tightening here would have me out of this trade had I shorted at circle ( back to grabbing small bunches pips or hit and run) . Then wait to see where it headed if looking to get back in. {image}
Not traded but
Having been long just over 600 would be looking for exit with some pips at this level - look Left.
Attached Image (click to enlarge)
Click to Enlarge Name: daxTest2of26.png Size: 534 KB
every Saint has a past. Every Sinner has a Future
  • #47,455
  • Feb 26, 2020 9:05am Feb 26, 2020 9:05am
cant get much more text book; previous D low / support.......easy place to swing with a tight stop, took 60 (and left a lot on the table, looking where it is now!)
Attached Image (click to enlarge)
Click to Enlarge Name: XAU 8am 20200226 2.JPG Size: 209 KB
  • #47,456
  • Feb 26, 2020 10:26am Feb 26, 2020 10:26am
Quoting Jp1
cant get much more text book; previous D low / support.......easy place to swing with a tight stop, took 60 (and left a lot on the table, looking where it is now!)
Hi jp
nice trade!
can I ask what broker you use for such a low spread? PM me if you like...
IG is like 30-50 pips!
Cheers!
used to be undecided but nowadays can't make my mind up
  • #47,457
  • Feb 26, 2020 11:08am Feb 26, 2020 11:08am
Quoting mrcreosote
{quote} Hi jp nice trade! can I ask what broker you use for such a low spread? PM me if you like... IG is like 30-50 pips! Cheers!
No worries, think that was a bit of a fluke when i snapped the screenshot.....isnt normally 4 ticks, its usually between 8-12. Its IC Markets ECN account.....so very good spreads, but have to pay comms - so say 1 lot is a fiver. Still a lot cheaper than being £50 down as soon as u open a trade though!
  • #47,458
  • Feb 26, 2020 11:15am Feb 26, 2020 11:15am
thanks, yeah I have trouble trading most of the time cos I'm spitting feathers, yelling 'robbing bastards are gonna get me again'
Edit:what's your spread US30 out of interest? If I'm gonna get rich again I need to trade that
used to be undecided but nowadays can't make my mind up
  • #47,459
  • Feb 26, 2020 11:38am Feb 26, 2020 11:38am
if you're a bit bored
https://vigilantcitizen.com/latestne...-a-1981-novel/
used to be undecided but nowadays can't make my mind up
  • #47,460
  • Feb 26, 2020 11:55am Feb 26, 2020 11:55am
Quoting mrcreosote
thanks, yeah I have trouble trading most of the time cos I'm spitting feathers, yelling 'robbing bastards are gonna get me again' Edit:what's your spread US30 out of interest? If I'm gonna get rich again I need to trade that
think its about 3 ticks mate.....and dont worry, dont matter the spread to me, still give all ive got to the broker!
18 traders viewing now