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The Jail Break System

  • #8,961
  • Mar 20, 2020 3:35am Mar 20, 2020 3:35am
Quoting Sorel
{quote} Good morning to everyone, That 8:00 15 min bar on cable has quite a big range billytt. Have you taken the short?
Hi S. Range was 35.
I went long with the break.
Having said that and yes times are not normal.
Quite often after ADR is made we have retrace. So maybe we are in for a drop.
I don't have stats for this. Lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,962
  • Mar 20, 2020 4:19am Mar 20, 2020 4:19am
Quoting prozor7
{quote} agree with you this is a probability game and I calculate that USDCAD has 82.4% to go down from this level 20 pips risk for 233 pips gain RR 1:11
RR 1:11
I will call for a day!
is that en expression when you get up and leave from the table?

great week this was. bunch of educational post, trading plans, profitable and not profitable tradings.....

if you didn't noticed humor was missing this week. we are worried!

now this order
Forex can only be understood backwards, but it must be traded forwards.
  • #8,963
  • Mar 20, 2020 4:31am Mar 20, 2020 4:31am
Quoting prozor7
{quote} RR 1:11 I will call for a day! is that en expression when you get up and leave from the table? great week this was. bunch of educational post, trading plans, profitable and not profitable tradings..... if you didn't noticed humor was missing this week. we are worried! now this order
Glad you had a good week.
Weird days and I know some of the standard trade methods have not gone to plan.
Yaaaay ho for it bud.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,964
  • Mar 20, 2020 4:35am Mar 20, 2020 4:35am
Quoting billytt
{quote} Hi T. Hope you are well. No trade here, Cable,,range is too big.. The thing is, I could trade it but I would need a massive bank to cover the margin,. It would be safe but just not worth the trouble. Trade well.
Hi Billytt,

Yes you are right. I bagged a few pips on start of london. Than end up holding onto a few bad trades while I tried to attempt level counting to bag more pips.
Holding onto a bag of spoil bread is indeed painful. Got a big hole cracked through my wallet.

Manage to make a comeback to fill up the big hole. Exit with a loss and reentry to pick up my loss.

But like you say, not worth the trouble.

I need to reread PC stuff to find out more.
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  • #8,965
  • Mar 20, 2020 5:03am Mar 20, 2020 5:03am
[quote=fistno;12826391]{quote} Hi Billytt, Yes you are right. I bagged a few pips on start of london. Than end up holding onto a few bad trades while I tried to attempt level counting to bag more pips. Holding onto a bag of spoil bread is indeed painful. Got a big hole cracked through my wallet. Manage to make a comeback to fill up the big hole.

Hi F.
I wish you well with your future trades.
If I have a big range and if/when I counter l will need a ridiculous amount for the margin.
I did nail the 08-00 high break. And that is my main trade.
Funny thing though. I was showing my gf a cable chart and I had a scalp entry which I went short. ( I no longer scalp) to show her how a trade works.
I accidentally left the big lot size on lol. Then it dropped 28 points yaaaaay, lol. Lucky it what!
Trade well and recoup..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,966
  • Mar 20, 2020 6:36am Mar 20, 2020 6:36am
Quoting billytt
.......... Then it dropped 28 points yaaaaay, lol. Lucky it what! Trade well and recoup..

28 points no problem today in 1 candle on 1M TF
Whether you think you can, or you think you can't,you're right. H.F.
  • #8,967
  • Mar 20, 2020 6:48am Mar 20, 2020 6:48am
Quoting Simply-Me
{quote} 28 points no problem today in 1 candle on 1M TF
Of course it was no problem.
My main trade I take 5 points. Day in day out, week after week.
I only play chasing the daily range for amusement. But earlier I had £60 a point and it dropped 29 points. Lol. It was unexpected hence my laughing. gf got the surprise.
Trade well.
Edit. It as 29. Not 28 as posted
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,968
  • Mar 20, 2020 7:18am Mar 20, 2020 7:18am
Good morning everyone from 64 degrees and sunny Midwest.
Patience, let the trade come to you.
  • #8,969
  • Mar 20, 2020 7:21am Mar 20, 2020 7:21am
USD/JPY 4 hour chart update.

The pair is now moving at the 3rd level.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #8,970
  • Mar 20, 2020 7:30am Mar 20, 2020 7:30am
Quoting PokerChip
USD/JPY 4 hour chart update. The pair is now moving at the 3rd level. {image}
Hi PC. Hope you are well.
You amaze me with your forecastes.
I am all done for the week.
GF is out spending and I have started reading again.
Just having a cup of tea ( very English) and spicy chicken. Yaaaaay.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,971
  • Mar 20, 2020 7:37am Mar 20, 2020 7:37am
Quoting billytt
{quote} Hi PC. Hope you are well. You amaze me with your forecastes. I am all done for the week. GF is out spending and I have started reading again. Just having a cup of tea ( very English) and spicy chicken. Yaaaaay. Trade well.
I hope you are very well on this Friday morning sir Billy.

Ha ha, a broken clock correct twice a day.

But thank you, I got lucky.

I hope you have a great weekend.
Patience, let the trade come to you.
  • #8,972
  • Mar 20, 2020 7:40am Mar 20, 2020 7:40am
GBP/USD 4 hour chart update.

Looks like this reversal is real.

It's moving up to the 1st level that I think will be the 1.19000-1.20000 area.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #8,973
  • Mar 20, 2020 7:41am Mar 20, 2020 7:41am
Quoting PokerChip
{quote} I hope you are very well on this Friday morning sir Billy. Ha ha, a broken clock correct twice a day. But thank you, I got lucky. I hope you have a great weekend.
I am the lucky one today..lol.
The clock? And in the UK when we put clicks back an hour in autumn/fall it is right 3 times lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,974
  • Mar 20, 2020 7:52am Mar 20, 2020 7:52am
Quoting PokerChip
GBP/USD 4 hour chart update. Looks like this reversal is real. It's moving up to the 1st level that I think will be the 1.19000-1.20000 area. {image}
Hi PC,

I am thinking that there is a W in Cable M5 chart.
Highlighted in green box (price action in consolidation, and I think it is trying to break north.)

Can I ask if it is valid to assess such levels at this time in M5 TF?
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  • #8,975
  • Mar 20, 2020 7:52am Mar 20, 2020 7:52am
GBP/JPY 4 hour chart update.

The pair is now at the 1st level.

I look for the pair to retrace to 128.800 area.

Then move back up.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #8,976
  • Mar 20, 2020 7:55am Mar 20, 2020 7:55am
Quoting billytt
Quoting fistno
{quote} Hi Billytt, Yes you are right. I bagged a few pips on start of london. Than end up holding onto a few bad trades while I tried to attempt level counting to bag more pips. Holding onto a bag of spoil bread is indeed painful. Got a big hole cracked through my wallet. Manage to make a comeback to fill up the big hole. Hi F. I wish you well with your future trades. If I have a big range and if/when I counter l will need a ridiculous amount for the margin. I did nail the 08-00 high break. And that is my main trade. Funny
...
Hi billytt,

I will say that is a pro instinct level trade.

The market for today is not that smooth compare to the few days before. I wish everyday market just go one way, the highway to make my life easy.
LOL
  • #8,977
  • Mar 20, 2020 7:57am Mar 20, 2020 7:57am
Quoting fistno
{quote} Hi PC, I am thinking that there is a W in Cable M5 chart. Highlighted in green box (price action in consolidation, and I think it is trying to break north.) Can I ask if it is valid to assess such levels at this time in M5 TF? {image}
Good morning Fistno,

I would be careful trading the 5 minute, but if you are use to it, trade it.

I think the pair is moving up to the 119-120 area.
Patience, let the trade come to you.
  • #8,978
  • Mar 20, 2020 7:59am Mar 20, 2020 7:59am
Quoting fistno
{quote} Hi PC, I am thinking that there is a W in Cable M5 chart. Highlighted in green box (price action in consolidation, and I think it is trying to break north.) Can I ask if it is valid to assess such levels at this time in M5 TF? {image}
I also think the pair is over sold.

So with that in mind, you could really see it move up in a hurry.
Patience, let the trade come to you.
  • #8,979
  • Mar 20, 2020 8:08am Mar 20, 2020 8:08am
Hi guys

I've been voraciously reading through this whole thread the past couple days - up to page 315 now. Am also in the process of setting up fx capability so hopefully I'll be able to join the party soon and contribute to what makes this the most valuable and welcoming thread on FF. I have a couple of questions re trade management that I'm a little confused on and would appreciate some clarification: the first is for billytt - would you mind explaining exactly what you mean by "counter trade" (or hedge) that you use when you're in a losing position? In a former life as an options trader I would 'counter' trade the underlying futures mkt against an option I had traded in order to lock in a certain volatility level and be delta neutral. I'm just not clear on what you're counter trading here since you're main instrument is already the underlying market? I'm sure its simple and I'm just being stupid but if you wouldn't mind explaining it to me I'd appreciate it Secondly, for Poker Chip, when you talk about having enough margin so that the market maker can't touch you, are you in effect saying you will hold on to losing trades come what may until they turn around or is that having enough margin in your account means you don't actually have to place stop loss orders with your broker (that can then be chased) yet you will manually close a position if you decide it has moved too far against you?
Thanks very much to both of you in advance (and anyone else who might wanna chip in and share their trade management methodology) and I hope everyone is keeping well and staying safe
  • #8,980
  • Mar 20, 2020 8:10am Mar 20, 2020 8:10am
Hi N, my ADR is calculated by myself using the previous 5 day daily range. Sunday never included.

I use the 00-00 4 hour bar/ candle UK time.which I either trade off or use to fix a bad trade.

With these massive moves Cable has had for several days. I have not bothered to use ADR .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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