Billytt Die happy trading e/j daily breakout | Page 2477 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #49,521
  • Jun 3, 2020 2:45am Jun 3, 2020 2:45am
Quoting billytt
{quote} Hi, I do not know what you mean about screen time?????
lol you know what Billy I very nearly said 'IT LOOKS TOPPY TO ME' BUT I didn't because I didn't want to look like an idiot when it broke the high!!!
Good trading my man!!!
used to be undecided but nowadays can't make my mind up
  • #49,522
  • Jun 3, 2020 2:46am Jun 3, 2020 2:46am
Quoting mrcreosote
{quote} Claudia makes a good point about checking the news too!!! That's a nice tight spread..which broker are you with? I take it you are paying a commission each trade?
Yes. Good Point. Did not check for any news.

Not sure if allowed to name Brokers here, don't want to advertise. You can send me PM.

Commission = $4,52 / Lot
Spread = 0.0 - 1

This Spread was 0,1 i think on this particular trade.
  • #49,523
  • Jun 3, 2020 2:49am Jun 3, 2020 2:49am
Billy got his 5 hoorray
  • #49,524
  • Jun 3, 2020 2:50am Jun 3, 2020 2:50am
here's one view of the PA - price action......it was making 'lower highs' too.....see where I stuck the 'ticks' on
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2020-06-03_09-48-30.png Size: 10 KB
used to be undecided but nowadays can't make my mind up
  • #49,525
  • Jun 3, 2020 2:50am Jun 3, 2020 2:50am
Quoting claudia1
{quote} You're right. The only way to learn is the hard way - as you say 'go for it'. Just as importantly, you have to make a system/strategy your own rather than trying to copying someone else. Look at how you're trading style has changed completely over the past few years. A lot of it comes back to one word. I won't say it but you know what I mean.
confidence?....I think I saw 'someone' post that a while back :-)

Yes, last week and this week is the first time I've really moved past the acres of backtesting that can 'prove' every method to be a failure (or success until you try it) and am spending time staring & playing live with one pair filtered with a simple soup of what I've picked up here and Other Places from Lem, Billy, SteveP, Turnip, Claudia, Michael, TS, Hal, and Someone Else (not sure if I could hack Mambo No. 5 as a tribute to you all?) to try to develop that 'confidence'. But even all the info I initially took on together was too much for me, so it's just a little bit of each, stripped back, and seeing what my brain can start to pick out as I watch price move.

Jury's out, but hearing what you're all saying and giving it a shot.
  • #49,526
  • Jun 3, 2020 2:53am Jun 3, 2020 2:53am
Quoting mrcreosote
{quote} lol you know what Billy I very nearly said 'IT LOOKS TOPPY TO ME' BUT I didn't because I didn't want to look like an idiot when it broke the high!!! Good trading my man!!!
thanks, you didn't answer my question,?????

I would of been unable to answer which price direction too, to be honest.
With Cable, things are looking good for Brexit BUT,,, at a moments notice it could quite easily free fall down,

That's why I stick to line break, trade with the market movers.
Happy Days.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,527
  • Jun 3, 2020 2:54am Jun 3, 2020 2:54am
Quoting mrcreosote
{quote} Claudia makes a good point about checking the news too!!! That's a nice tight spread..which broker are you with? I take it you are paying a commission each trade?
Yes, tight spread, comm.6 cents..!!!!
..FP broker..all good
Onwards and upwards...
  • #49,528
  • Jun 3, 2020 2:54am Jun 3, 2020 2:54am
Quoting stu
{quote} confidence?....I think I saw 'someone' post that a while back :-) Yes, last week and this week is the first time I've really moved past the acres of backtesting that can 'prove' every method to be a failure (or success until you try it) and am spending time staring & playing live with one pair filtered with a simple soup of what I've picked up here and Other Places from Lem, Billy, SteveP, Turnip, Claudia, Michael, TS, Hal, and Someone Else (not sure if I could hack Mambo No. 5 as a tribute to you all?) to try to develop that 'confidence'....
Yep that's the word. Impressed !

Keep going and you'll get there in the end as Mr T did. It's been said a million times but you need to make a system/strategy your own. Once you can wake up in the morning look yourself in the mirror, smile and say 'gonna make money today' then you're there. Self belief.
  • #49,529
  • Jun 3, 2020 2:56am Jun 3, 2020 2:56am
[quote=stu;12979555]{quote} confidence?....I think I saw 'someone' post that a while back :-) Yes, last week and this week is the first time I've really moved past the acres of backtesting that can 'prove' every method to be a failure (or success until you try it) and am spending time staring & playing live with one pair filtered with a simple soup of what I've picked up here and Other Places from Lem, Billy, SteveP, Turnip, Claudia, Michael, TS, Hal, and Someone Else (not sure if I could hack Mambo No. 5 as a tribute to you all?) to try to develop that 'confidence'.


with that mix, you might just develop the universe's best ever trading method. yaaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,530
  • Jun 3, 2020 2:59am Jun 3, 2020 2:59am
Quoting billytt
{quote} thanks, you didn't answer my question,????? I would of been unable to answer which price direction too, to be honest. With Cable, things are looking good for Brexit BUT,,, at a moments notice it could quite easily free fall down, That's why I stick to line break, trade with the market movers. Happy Days.
Sorry Billy I thought you were being sarcastic!
I think you are very good not only because you stick to your rules but because you have been looking at charts for a very long time too??
OK a question, are there days when you look at the chart and say, no I'm not trading that one today, it just doesn't look quite right? (and have a bacon sarnie instead?)
used to be undecided but nowadays can't make my mind up
  • #49,531
  • Jun 3, 2020 3:09am Jun 3, 2020 3:09am
Quoting mrcreosote
{quote} Sorry Billy I thought you were being sarcastic! I think you are very good not only because you stick to your rules but because you have been looking at charts for a very long time too?? OK a question, are there days when you look at the chart and say, no I'm not trading that one today, it just doesn't look quite right? (and have a bacon sarnie instead?)

apologies from me if you thought I was being sarky, lol. I wasn't.
I have thousands of hours screen watching, thousands of stats which I can honestly say , the majority I no longer have access to, but quite honestly I no longer need them as I can look back at most charts and sort it in my head.

I do get days when I see a chart and think, not today , Like today, I am not trading the 00-00 4 hour break.
I will trade off a 2 hour bar though, like earlier (pssst I should not of done though).
I might not trade if I am going out, which is rare, and sometimes when my gf looks at me in a certain way I don't trade, but I wont go into that lol.
She costs me money lol

edit, I mean, I don't pay her, she aint a hooker lol ooops
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,532
  • Jun 3, 2020 3:09am Jun 3, 2020 3:09am
Quoting billytt
{quote} Hi F, good post. Certain Lines are better than others. as are the areas. We need lines which are safe from whip , But it can/does happen. AND, the lines should be in harmony with the daily range.?????? Here endeth the lesson. Trade Well All.
Thanks, always appreciate your input.
yes harmonized daily - anchored with history as far yonder 16 jan 2017
  • #49,533
  • Jun 3, 2020 3:14am Jun 3, 2020 3:14am
Is that how "08:00 Billy M15 Bar" is traded?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-fxopen-investments-inc.jpg Size: 123 KB


So SELL order would have been executed at low of 08:00 bar hitting +5

At what point/time/criteria any counter trade would be placed if the trade retraces back before hitting TP, and then what?
  • #49,534
  • Jun 3, 2020 3:22am Jun 3, 2020 3:22am
Quoting lddd
Is that how "08:00 Billy M15 Bar" is traded? {image} So SELL order would have been executed at low of 08:00 bar hitting +5 At what point/time/criteria any counter trade would be placed if the trade retraces back before hitting TP, and then what?
when he got his 5, billy will called it a day for that 08:15
  • #49,535
  • Jun 3, 2020 3:25am Jun 3, 2020 3:25am
Quoting lddd
Is that how "08:00 Billy M15 Bar" is traded? {image} So SELL order would have been executed at low of 08:00 bar hitting +5 At what point/time/criteria any counter trade would be placed if the trade retraces back before hitting TP, and then what?
yes looks similar to my chart........if it fails trade the other end of the candle!!! So in this case, go long at 1.2608
EDIT: changed bar to candle
EDIT again: my chart doesn't use candlesticks.....I use bars cos I don't believe the wicks are important on 1min or 5min charts but Lem might disagree.....but he trades like a robot so he's not normal
used to be undecided but nowadays can't make my mind up
  • #49,536
  • Jun 3, 2020 3:42am Jun 3, 2020 3:42am
Quoting mrcreosote
{quote} yes looks similar to my chart........if it fails trade the other end of the candle!!! So in this case, go long at 1.2608 EDIT: changed bar to candle EDIT again: my chart doesn't use candlesticks.....I use bars cos I don't believe the wicks are important on 1min or 5min charts but Lem might disagree.....but he trades like a robot so he's not normal
I don’t actually understand why any chart here is important at all, as far as I understand it’s about setting two orders at distance, wait which order gets executed, if tp hit done. Wait for the net day to do the same. If retrace wait until second order is executed at probably a doubled position size, wait again to hit +5 and you are break even, or wait for hit +6 and you have a profit. If second order retraces back again before hitting TP it’s either stopped out at a double loss for X Pips depending on what SL setted here and you wait for next day again or open a third trade and tripple the size?

It actually more sounds like playing the lottery to me by doubling your stake every time you lose until finally win than actually trying to make a trade into the right direction.

Anyways I am out +5 for today as well, will try to do the same again tomorrow morning.

1 trade per day quick in quick out maybe that’s the holy grail hah...
  • #49,537
  • Jun 3, 2020 3:57am Jun 3, 2020 3:57am
Quoting claudia1
@ Lem - Kempton again for me. Gosden/Dettori again and also Adam has come out of hibernation with a couple of decent rides. I'm seeing doubles and trebles all over the place whilst waiting for cable lol.
I'll have a look, thanks. I do have to head out for cat-food supplies at some point, so may be gone for some time
  • #49,538
  • Jun 3, 2020 4:03am Jun 3, 2020 4:03am
Quoting claudia1
@ Lem - Kempton again for me. Gosden/Dettori again and also Adam has come out of hibernation with a couple of decent rides. I'm seeing doubles and trebles all over the place whilst waiting for cable lol.
doubles and trebles <<<<<<<< drinks????? OR dart board ?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,539
  • Jun 3, 2020 4:04am Jun 3, 2020 4:04am
Quoting billytt
{quote} doubles and trebles <<<<<<<< drinks????? OR dart board ?
No. Drinks would be good but we're talking horsies.

How's the head ?
  • #49,540
  • Jun 3, 2020 4:06am Jun 3, 2020 4:06am
Quoting lddd
{quote} I don’t actually understand why any chart here is important at all, as far as I understand it’s about setting two orders at distance, wait which order gets executed, if tp hit done. Wait for the net day to do the same. If retrace wait until second order is executed at probably a doubled position size, wait again to hit +5 and you are break even, or wait for hit +6 and you have a profit. If second order retraces back again before hitting TP it’s either stopped out at a double loss for X Pips depending on what SL setted here and you...
and tripple the size? It actually more sounds like playing the lottery to me by doubling your stake every time you lose until finally win than actually trying to make a trade into the right direction.

Where has anyone here said that you double or triple your size every time you lose?
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