Billytt Die happy trading e/j daily breakout

Quoting mrcreosote

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{quote} that trade finished hours ago!! Billy says 'go for 5'......it's going for more and being greedy that doesn't work!!??

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Quoting Wellington

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{quote} Lol - living the high life down in the New Forest Ok, I get that it is the one trade - it's basically locking in a 'maximum' loss - in this instance 25 pips - without actually taking the loss as you would with a stop, then waiting for some profitable future trades to help you unwind it. Either way, you're still going to need 5 of the regular trades as I mention above to be able to unwind this for b/e at some stage...Or, as you say "till the end of time if you wish" you could[/highlight]...

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Quoting mrcreosote

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{quote} great trading! Lem you said something the other day (I think it was you lol) along the lines of 'you don't like being exposed to the market' which has made me think.... How long would you say your average trade is? Cheers

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Quoting lemercenaire

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{quote} Weeeeeelllllllll...yes...and no. Of course you are right in a purely a+a=2a blah, blah, blah. However, one of the things you are forgetting is that Billy didn't just pick that bar out of thin air. He has frequency distribution stats up the wazoo. These show that - among other things - if we have a fail, then there is a very strong statistical edge in our favour, in that the reverse break won't just faff around with a small move underneath but will go long and usually easily recoup any float. That is the very basic, basic info. Personally,...

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Quoting mrcreosote

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LINES! Draw LINES! White lines are ok but not on a white background....so we have red lines inverted head n shoulders? {image}

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Quoting lemercenaire

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{quote} Hellooooooooo there. You're too late. Billy has been and bagged and will be off hunting renegade gnomes in the glade by now. He will no doubt be back for lunch and cider. Until then... I won't go into the specifics of how Billy counters - I do it slightly differently - as the very question was answered here last week. However, the one thing you have to get right - and most new here get wrong initially - is that you are treating the counter as a separate trade. It isn't. The counter is there to lock in the first trade should it go bad. That...

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Quoting billytt

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{quote} Thank you Lem,, hope you are well.

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Quoting Wellington

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{quote} Hey Billy, hope you're well pal (and everyone else on this thread) Thought I'd chat to you here as it seems more geared toward your breakout strategy than JB thread and telegram. So in this instance, with the bar range being 25, am I right in thinking you would need to have 5 'regular' size and target (ie 5 pips) winners just to make enough to b/e and close the counter, or am I missing something...(like the secret sauce )

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Quoting Wellington

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{quote} Lol - living the high life down in the New Forest Ok, I get that it is the one trade - it's basically locking in a 'maximum' loss - in this instance 25 pips - without actually taking the loss as you would with a stop, then waiting for some profitable future trades to help you unwind it. Either way, you're still going to need 5 of the regular trades as I mention above to be able to unwind this for b/e at some stage...Or, as you say "till the end of time if you wish" you could hold a £2500 floating loss while consistently taking...

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Quoting lemercenaire

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{quote} Weeeeeelllllllll...yes...and no. Of course you are right in a purely a+a=2a blah, blah, blah. However, one of the things you are forgetting is that Billy didn't just pick that bar out of thin air. He has frequency distribution stats up the wazoo. These show that - among other things - if we have a fail, then there is a very strong statistical edge in our favour, in that the reverse break won't just faff around with a small move underneath but will go long and usually easily recoup any float. That is the very basic, basic info. Personally,...

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Quoting lemercenaire

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{quote} Weeeeeelllllllll...yes...and no. Of course you are right in a purely a+a=2a blah, blah, blah. However, one of the things you are forgetting is that Billy didn't just pick that bar out of thin air. He has frequency distribution stats up the wazoo. These show that - among other things - if we have a fail, then there is a very strong statistical edge in our favour, in that the reverse break won't just faff around with a small move underneath but will go long and usually easily recoup any float. That is the very basic, basic info. Personally,...

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Quoting billytt

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{quote} Hi W, I have said this many times, what you say is correct, a loss is a loss. (look up loss leader in Walmart/Tescos etc) With a counter , I will play them against each other. My forte' is fixing a fail, that is where more money is made. I trade, I retrace trade, I add on, I compound, I will even play inside bars on the 4 hour/daily AND I chase the daily range. All this is part of the trade.

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Quoting lemercenaire

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Back on more familiar ground, with the US30. US30 5-min via The Spiders From Mars +7.1 {image}

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Quoting claudia1

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{quote} Why not just save a few templates - be much easier. Just a thought. Back on the horses - yaaaaaay as Billy would say. First two races not even a place lol. Too hot for the poor horses.

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