Billytt Die happy trading e/j daily breakout | Page 2482 | 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

  • #49,621
  • Jun 3, 2020 1:49pm Jun 3, 2020 1:49pm
Quoting mrcreosote
Bloody hell US30 is off to the races again!!!
Yep, I just did an WalMal set of entries on it, in The Other Galaxy. Happy, happy, happy.
  • #49,622
  • Jun 3, 2020 1:54pm Jun 3, 2020 1:54pm
Quoting lemercenaire
{quote} Yep, I just did an WalMal set of entries on it, in The Other Galaxy. Happy, happy, happy.
Where's this Other Galaxy???
used to be undecided but nowadays can't make my mind up
  • #49,623
  • Jun 3, 2020 2:29pm Jun 3, 2020 2:29pm
Quoting mrcreosote
{quote} Where's this Other Galaxy???
PM'd you.
  • #49,624
  • Jun 3, 2020 2:37pm Jun 3, 2020 2:37pm
My new Doo-Dah...As always, in heavy. One .50 Cal instead of five .22's lol. There's not a lot of time to get things done .

USTec 1-min +4.6

Attached Image (click to enlarge)
Click to Enlarge Name: InkedUSTec1-MinAndMyNewDooDahHerFor+4.6onEveOfJune3rd2020_LI.jpg Size: 563 KB


I'm sure you can figure out what I'm doing.
  • #49,625
  • Edited 2:56pm Jun 3, 2020 2:39pm | Edited 2:56pm
With a strategy like Billy's or any breakout strategy for that matter, it's always easier to trade it with an Expert Advisor. You can adjust your lot sizes and range sizes much faster and easier. But for when your manually trading Billy's way, if your worried about setting both pending orders and and having them both get triggered before your finished setting them up, then your range is too small to start with. Billy has said it before in the thread. His break out strategy is nothing new, he did not invent it....and if traded with no hedge and as a straight up break out strategy, it will most likely be a losing strategy. His magic and secret sauce comes from the "fails". He thrives on his losses. He makes more from them. So unless you have the bankroll and are going to learn his hedging techniques you better use his FD stats and come up with something that works for YOU. What I did was trade AU and used his stats for the 04-00 bar for "failed trades" and only traded the 2nd trigger after a failed 1st trigger. I did NOT trade the 1st trigger. I missed a lot of trades since the 1st trigger had good stats to win but the 2nd trigger had even better stats for getting Average Daily Range ( Modest Range) and the RR was better so i decided to "wait". Now what I do is trade the 00-00 bar with GU instead but the same way. I haven't traded it in a while because I've been working on other stuff but that's a good way to start if you have a smaller bank roll in my opinion. IMO you don't have to use the opposite side as your SL when only trading the 2nd trigger. You can set a SL depending on structure or on what your comfortable with. I wouldn't go with anything less then 10 pips. Just a thought. If you don't lock yourself into thinking one set way you will find more than one path to your success.
  • #49,626
  • Jun 3, 2020 2:40pm Jun 3, 2020 2:40pm
Quoting lemercenaire
My new Doo-Dah...As always, in heavy. One .50 Cal instead of five .22's lol. There's not a lot of time to get things done . USTec 1-min +4.6 {image} I'm sure you can figure out what I'm doing.
Full move went for about +10.
  • #49,627
  • Jun 3, 2020 2:43pm Jun 3, 2020 2:43pm
Quoting bojack34
With a strategy like Billy's or any breakout strategy for that matter, it's always easier to trade it with an Expert Advisor. You can adjust your lot sizes and range sizes much faster and easier. But for when your manually trading Billy's way, if your worried about setting both pending orders and and having them both get triggered before your finished setting them up, then your range is too small to start with. Billy has said it before in the thread. His break out strategy is nothing new, he did not invent it....and if traded[/highlight]...
The 04:00 is on AU though, remember, not Cable.
  • #49,628
  • Jun 3, 2020 2:45pm Jun 3, 2020 2:45pm
Quoting lemercenaire
{quote} The 04:00 is on AU though, remember, not Cable.
I already updated my post as you were typing this....haha I realized I wasn't very clear in my post. I'm not quite the writer you are.
  • #49,629
  • Jun 3, 2020 4:29pm Jun 3, 2020 4:29pm
Quoting lemercenaire
{quote} I dunno. You'd have to ask Soccerfan about his 5 pip sl, not me or Billy. The stats are for THE 08:00 - 08:15 GU CANDLE. What price does on ''other'' 15 min candles, I don't give a toss.
Ok.

i am not sure what kind of stats you mean here, I asked previously about stats I think but Billy’s answer was something like „stats...I used to have stats of my stats“ ;-)

So if I want to trade this one price bar only, at 08:15, and thats it, I would need to know how to protect my self on these trades.

I think I got the basic entry, e.g. buy at high of that bar, sell at low, hunt for 10 pips (to end up +5 after spread and commissions) and done for the day.

But let’s say it fails, not using a fixed SL and having that counter triggered instead, how would this counter be managed so I would have the best chance to still end up green that day as you said would be easily possible.

I am only at post 32 reading this thread so far, a lot of small talk in between, the notes provided by BO captured a different setup I think, thread starting with EJ daily, again something different I guess.

Well, will keep reading.
  • #49,630
  • Jun 3, 2020 5:03pm Jun 3, 2020 5:03pm
Quoting lddd
{quote} Ok. i am not sure what kind of stats you mean here, I asked previously about stats I think but Billy’s answer was something like „stats...I used to have stats of my stats“ ;-) So if I want to trade this one price bar only, at 08:15, and thats it, I would need to know how to protect my self on these trades. I think I got the basic entry, e.g. buy at high of that bar, sell at low, hunt for 10 pips (to end up +5 after spread and commissions) and done for the day. But let’s say it fails, not using a fixed SL and having that counter triggered...
I see you still keep asking for instructions such as, 'how to manage a counter' etc. You have to realise, and I think Claudia has touched upon this ( POST 49476),that this thread is full of individual ideas unique to an individual, they cannot be replicated like an EA. You experiment and evolve as a trader in your own unique way and learn to accept failed trades as a business expense like any other. Try to compile an approach ( Like Frankenstein - take bits that appeal to you and create your own monster.) Test forward and keep records. Stare at lots of charts and learn Price Action. You will change over time, most of us do, nothing is set in stone. Don't leap from one approach to another like a butterfly but pick an approach that appeals to you and follow that person's posts.
SMALL TALK - People landing on this thread hoping for a serious and focused discussion on a trading method, ( Throwing a gnome into the air and calling heads or trouser bottom for long or short etc. ) will be disappointed since music, horse racing, unsolved garden crimes and general discourse form a major part of this thread. It is a virtual social club and refuge from the everyday with the additional subject glue of trading holding the whole edifice together.
every Saint has a past. Every Sinner has a Future
  • #49,631
  • Jun 3, 2020 5:07pm Jun 3, 2020 5:07pm
Quoting lddd
{quote} Ok. i am not sure what kind of stats you mean here, I asked previously about stats I think but Billy’s answer was something like „stats...I used to have stats of my stats“ ;-) So if I want to trade this one price bar only, at 08:15, and thats it, I would need to know how to protect my self on these trades. I think I got the basic entry, e.g. buy at high of that bar, sell at low, hunt for 10 pips (to end up +5 after spread and commissions) and done for the day. But let’s say it fails, not using a fixed SL and having that counter triggered...
Hi Iddd
maybe have a read of Bo’s notes again ( I’m up to my 3 time! Thanks Bo) there’s several different options outlined as to how to get yourself out of the shite if things go bad. I don’t think it matters which setup bar you are using. Obviously you’ll need to have the stats for the pair and TF bar you are trading
eg potential adr, ideal bar range etc which you can easily obtain with a bit of screen time.
just trading lines in the sand! Sort of...lol!
cheers
  • #49,632
  • Jun 3, 2020 5:12pm Jun 3, 2020 5:12pm
Quoting turnip15
{quote} I see you still keep asking for instructions such as, 'how to manage a counter' etc. You have to realise, and I think Claudia has touched upon this ( POST 49476),that this thread is full of individual ideas unique to an individual, they cannot be replicated like an EA. You experiment and evolve as a trader in your own unique way and learn to accept failed trades as a business expense like any other. Try to compile an approach ( Like Frankenstein - take bits that appeal to you and create your own monster.) Test forward and keep records. Stare...
I do some Horse racing we have the possibility to start a team and sell shares of the bet is from 4-7 races so yesterday i took in 220 dollars in totaly 120 for me and today 300 and 100 for me that way i dont have to put so much money into a individual bet since we multiple people sharing....Usually one share is 2 dollars and a total of 30-40 shares and i usually buy 2-10 myself.....Its not like you make a lot of money,but if i can breakeven and hope for a big one.....This weekend there are 6 million dollars ekstra in the pot for 7 races and you need 5 for small price 6 for medium and 7 for the bigger prices,,,It depends a lot of how much the horses win have been bet on.....I dont think i need to explain to Lem ore Claudia how this works since i have seen them talking horses here.....Trading is better,but the action with horse betting is fun....
Insanityoing same ting over expecting different results..Einstein
  • #49,633
  • Jun 3, 2020 5:16pm Jun 3, 2020 5:16pm
To the wise man here,

Attached Image (click to enlarge)
Click to Enlarge Name: kIvlEZf.png Size: 64 KB


Thank you.
  • #49,634
  • Jun 3, 2020 5:18pm Jun 3, 2020 5:18pm
Quoting bojack34
With a strategy like Billy's or any breakout strategy for that matter, it's always easier to trade it with an Expert Advisor. You can adjust your lot sizes and range sizes much faster and easier. But for when your manually trading Billy's way, if your worried about setting both pending orders and and having them both get triggered before your finished setting them up, then your range is too small to start with. Billy has said it before in the thread. His break out strategy is nothing new, he did not invent it....and if traded with no hedge and as...
You are right.

I will have to repeat my self I guess. I originally came here to get an idea of what simple no BS approach of REAL trading (to pay the bills) could work for me to make money consistently over time, which is ideally backed by some longer term track record / stats for something i can then try to repeat (for now) and further might be able to extend/change to fit my personal condition.

Now if you say the breakout entry alone won’t make me end positive by the end of the day/week/month I would agree with you.

Bank Roll, well I would need to know how many trades billy is doing on average per day, how much floating loss to hold for what time, when to expect coming out of profit, break even or max loss on a single trade and so on.

I need $5k to cover my costs, have a moderate life before tax.

According to my trading capital therefor, I would need to average a 5% ROI/month while I would be able to risk 100 Pips if allowing 1% capital at risk taking 1 Lot on a Single GU trade.
  • #49,635
  • Edited Jun 4, 2020 2:12am Jun 3, 2020 5:24pm | Edited Jun 4, 2020 2:12am
Quoting lddd
{quote} You are right. I will have to repeat my self I guess. I originally came here to to get an idea of what simple no BS approve of REAL trading (to pay the bills) could work for me to make money consistently over time, which is ideally backed by some longer term track record / stats for something i can then try to repeat (for now) and further might be able to extend/change to fit my personal condition. Now if you say the breakout entry alone won’t make me end positive by the end of the day/week/month I would agree with you. Bank Roll, well I...
Ok well if your like me and you have 50:1 leverage and you want to achieve 1% per pip. Good Luck. First of all think of this, if you have a range of 20 and you are going for 5 pips (5%)....and you have a failed 1st trigger and you must counter. You will be down 20% at the time you counter. Now tell me you don't need a big bankroll. When billy has to counter in that situation he's not really down 20%.....he has a 2nd BR that really brings the hammer when needed. No one knows what his 2nd BR is but I can garentee you when add both of his BR's together, he's no where near down 20% at that point.
  • #49,636
  • Edited 5:43pm Jun 3, 2020 5:27pm | Edited 5:43pm
Quoting bojack34
{quote} Ok well if your like me and you have 50:1 leverage and you want to achieve 1% per pip. Good Luck. First of all think of this, if you have a range of 20 and you are going for 5 pips (5%)....and you have a failed 1st trigger and you must counter. You will be down 20% at the time you counter. Now tell me you don't need a big bankroll. When billy has to counter in that situation he's not really down 20%.....he has a 2nd BR that really brings the hammer when needed. No one knows what his 2nd BR is but I can garentee you when you both of his BR's...
I could split capital and have 1:500 leverage or 1:1000 ?

Also i did not mean I need 1%/Pip Profit. I need 5%/month, so why on earth would I need to risk 1% on a single trade.

Sure if this is part of his method, that I would have to put this on risk every single time to hit 5 pips, it would be probably no solution for me
  • #49,637
  • Jun 3, 2020 5:47pm Jun 3, 2020 5:47pm
Quoting lddd
{quote} I could split capital and have 1:500 leverage or 1:1000 ? Also i did not mean I need 1%/Pip Profit. I need 5%/month, so why on earth would I need to risk 1% on a single trade. Sure if this is part of his method, that I would have to put this on risk every single time to hit 5 pips, it would be probably no solution for me
Good Luck in Forex. Green pips to you.
  • #49,638
  • Jun 3, 2020 6:00pm Jun 3, 2020 6:00pm
Quoting FXsniper111
{quote} I do some Horse racing we have the possibility to start a team and sell shares of the bet is from 4-7 races so yesterday i took in 220 dollars in totaly 120 for me and today 300 and 100 for me that way i dont have to put so much money into a individual bet since we multiple people sharing....Usually one share is 2 dollars and a total of 30-40 shares and i usually buy 2-10 myself.....Its not like you make a lot of money,but if i can breakeven and hope for a big one.....This weekend there are 6 million dollars ekstra in the pot for 7 races...
Good to hear someone else lumping on the horses. Claudia loves the fun side of it and I too will play occasionally but I run my actual serious horse racing side, well...seriously, lol.

In my method, I am trading the horses and greening up a race, so I don't even need to know the names of the horses, it's all in the numbers.

I have two methods, my main one is for handicaps and the other for non-handicaps and ne'er the two shall meet. The handicaps make up the vast majority of the business. 99% v 1% probably.

All fun in the sun.
  • #49,639
  • Jun 3, 2020 6:14pm Jun 3, 2020 6:14pm
Quoting turnip15
{quote} I see you still keep asking for instructions such as, 'how to manage a counter' etc. You have to realise, and I think Claudia has touched upon this ( POST 49476),that this thread is full of individual ideas unique to an individual, they cannot be replicated like an EA. You experiment and evolve as a trader in your own unique way and learn to accept failed trades as a business expense like any other. Try to compile an approach ( Like Frankenstein - take bits that appeal to you and create your own monster.) Test forward and keep records. Stare...
Well then you did get me wrong.

I totally understand the importance of finding my own unique way.

I got introduced here (without asking for) to have a look at this thread with the hint that’s the right place where real traders are knowing what and how to do

i didn’t asked for any EA or fool proof strategy I can copy trade. I asked specific questions to specific real problems i have and or don’t know any better yet.

I am sorry if this is boring and repeating for some of you.

Will have to think about what to do, maybe should leave FF at all.

Good night to all of you.
  • #49,640
  • Jun 3, 2020 6:20pm Jun 3, 2020 6:20pm
Quoting lddd
{quote} Ok. i am not sure what kind of stats you mean here, I asked previously about stats I think but Billy’s answer was something like „stats...I used to have stats of my stats“ ;-) So if I want to trade this one price bar only, at 08:15, and thats it, I would need to know how to protect my self on these trades. I think I got the basic entry, e.g. buy at high of that bar, sell at low, hunt for 10 pips (to end up +5 after spread and commissions) and done for the day. But let’s say it fails, not using a fixed SL and having that counter triggered...
As T says above, this is not a typical trading thread. This is a place that Billy graciously lets a bunch of folk who happen to trade very seriously hang out and chew the fat.

Over the life of the thread, some have come and gone but all took something of value out of their time here and I think it's telling that all of them return to visit and say hi every so often. All are still trading successfully.

Maybe you will too.

Maybe you won't.

At the moment you are at a crossroads of your own making and well, you need to decide what it's going to be. Hanging around asking the same questions over and over again in a slightly different way is doing nobody any good.

There seems to be a resentment of sorts in your tone at times, as if you are accusing us of keeping some secret from you.

I don't think you really believe what we have all told you and you know what, it's not our job to convince you one way or another.

Life's too short.

If this comes across as harsh or rude or whatever, well life's hard and then you die. Try working for a Russian investor and come back and talk about hard.

All the information you need to be a success at this game is contained in this thread. However the thread is an organic, living thing and all the methods here have evolved over time and are still evolving as market conditions change and flex.

This is how it is here. This is how we like it. It's not going to change.

Your move.
82 traders viewing now