Billytt Die happy trading e/j daily breakout | Page 2493 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #49,841
  • Jun 8, 2020 3:00am Jun 8, 2020 3:00am
Second trade stopped out as well

Now -10.

Tomorrow having to make +10 already instead +5 to make back to break even

Attached Image (click to enlarge)
Click to Enlarge Name: gu-815-sl.jpg Size: 193 KB
  • #49,842
  • Jun 8, 2020 3:01am Jun 8, 2020 3:01am
Quoting claudia1
{quote} Always been a winner and so so simple. I see lddd is trading cable with a 5 stop. You'll get burned every time - if market doesn't get you mt4 plug-in will by widening the spread.
Seriously I was just going to put ba disclaimer on, I will shortly.
5 stop and people should be barred.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,843
  • Jun 8, 2020 3:02am Jun 8, 2020 3:02am
Quoting claudia1
{quote} Always been a winner and so so simple. I see lddd is trading cable with a 5 stop. You'll get burned every time
@ Thats what that Soccerfan dude told me i shall test.

I asked several times if a fixed SL of 5,10 Pips wouldnīt be a bit tight, no answer...

Update:

I would have made +5 on the long trade if i would have placed the sell stop order a few more pips below of that 08:00 bar low , so it wouldīt have been triggered

Quoting claudia1
if market doesn't get you mt4 plug-in will by widening the spread.
I have no idea about mt4 plug-in / spread widening. Why MT4 should widen my spread. Spread stayed constantly around 0,3-0,6 Pips for me.
  • #49,844
  • Jun 8, 2020 3:03am Jun 8, 2020 3:03am
Quoting billytt
Billy enters room , on tip toes. shhhhhhhhhhhhhhhhhh. Cable 08-00 15 min bar break. Low broke and failed. Long broke and I got 5% plus a counter on. I am currently approx. -4 points down. chart below is cable 4 hour chart showing ADR High/Low area at approx. 08-50. 00-00 range is 40, adr is 122. {image} BOXES BREAK, nice one Claudia yaaaaaaaaaaaaaaaaaaaaaaaaaaay
Little blue box caught a quick drop. Waiting for a bit of a pull back then sell in to the pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD(Ģ)H1.png Size: 87 KB
  • #49,845
  • Jun 8, 2020 3:06am Jun 8, 2020 3:06am
Quoting lddd
{quote} @ Thats what that Soccerfan dude told me i shall test. I asked several times if a fixed SL of 5,10 Pips wouldnīt be a bit tight, no answer...
If you're in front of the screen let the trade run without a stop.
  • #49,846
  • Jun 8, 2020 3:07am Jun 8, 2020 3:07am
PLEASE READ CAREFULLY.
I POST MY TRADES BEFORE THEY OCCUR.
IF YOU COPY THEM THEY ARE AT YOUR OWN RISK.
I TRADE WITHOUT USING STOPS.
YOU MUST NOT THINK WHEN YOU TRADE LIKE ME.

small print, must like newts, bats, motor bikes, rugby, girls, beer and this site.
TRADE WELL ALL.

edit, and shopping, garden centres.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,847
  • Jun 8, 2020 3:07am Jun 8, 2020 3:07am
I am actually trading off the 06-00 2 hour bar, all sorted now lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,848
  • Jun 8, 2020 3:11am Jun 8, 2020 3:11am
Cable 4 hour chart.
Those bars, ARE MAGIC, adr lines adjusted, I can now hunt part of the range.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 08 B.png Size: 13 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,849
  • Jun 8, 2020 3:11am Jun 8, 2020 3:11am
Quoting claudia1
{quote} If you're in front of the screen let the trade run without a stop.

Yes Claudia thanks, but as far as i didnīt understand how the counter trade / hedging part would be done properly if the trade retraces back on me, i thought some kind of SL would be better instead of having it run against me until my account is empty

Also it doesnīt explain what to do if the trade (counter / hedge or not) then just goes into consolidation again hitting no TP at both ends, no TP with the counter, no TP with the original trade.
  • #49,850
  • Jun 8, 2020 3:14am Jun 8, 2020 3:14am
Quoting lddd
{quote} Yes Claudia thanks, but as far as i didnīt understand how the counter trade / hedging part would be done properly if the trade retraces back on me, i thought some kinfd of SL would be better instead of having it run against me until my account is empty Also it doesnīt explain what to do if the trade (counter / hedge or not) then just goes into consolidation again hitting no TP at both ends, no TP with the counter, no TP with the original trade.
I don't trade that way as such I add to positions which is slightly different. So not in a position to comment - one for Billy ha ha.
  • #49,851
  • Jun 8, 2020 3:23am Jun 8, 2020 3:23am
Quoting claudia1
{quote} I don't trade that way as such I add to positions which is slightly different. So not in a position to comment - one for Billy ha ha.
Seriously Claudia, I bet you could explain, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,852
  • Jun 8, 2020 3:24am Jun 8, 2020 3:24am
If you have doubt, STAY OUT.
I have said that many many times.
I f you are not sure, STAY OUT.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,853
  • Jun 8, 2020 3:25am Jun 8, 2020 3:25am
See this GU M15 chart

If you are going for TP +5 Pips, already hard to achieve if price just running up and down taking out your stop losses several times before direction "maybe" settles and a real "breakout" will happen, but who knows when this will happen or not. Maybe it will keep ranging for 15-20 Pips now for the complete day.

Attached Image (click to enlarge)
Click to Enlarge Name: gu-m15-uk-open.jpg Size: 129 KB
  • #49,854
  • Jun 8, 2020 3:26am Jun 8, 2020 3:26am
Quoting lddd
{quote} Yes Claudia thanks, but as far as i didnīt understand how the counter trade / hedging part would be done properly if the trade retraces back on me, i thought some kind of SL would be better instead of having it run against me until my account is empty Also it doesnīt explain what to do if the trade (counter / hedge or not) then just goes into consolidation again hitting no TP at both ends, no TP with the counter, no TP with the original trade.
Seems to me you're listening to a lot of people and trying to replicate what they do - you're not listening to the most important person which is you.

I worked with Hanover a few years back when he developed and advisor for me. I'll always remember him saying to me - 'to trade like you I'd have to get inside your head'.

He was so right. You have to do you own thing it is the only way. Believe me.
  • #49,855
  • Jun 8, 2020 3:27am Jun 8, 2020 3:27am
Quoting claudia1
{quote} I don't trade that way as such I add to positions which is slightly different. So not in a position to comment - one for Billy ha ha.
Yes i thought so, thanks for your kind help and comments Claudia, appreciate it.
  • #49,856
  • Jun 8, 2020 3:28am Jun 8, 2020 3:28am
Quoting billytt
{quote} Seriously Claudia, I bet you could explain, lol
Of course I could but ... where's Lem when you need him !!!

Hey had 50% win rate on horsies at weekend.
  • #49,857
  • Jun 8, 2020 3:36am Jun 8, 2020 3:36am
Quoting claudia1
{quote} Seems to me you're listening to a lot of people and trying to replicate what they do - you're not listening to the most important person which is you. I worked with Hanover a few years back when he developed and advisor for me. I'll always remember him saying to me - 'to trade like you I'd have to get inside your head'. He was so right. You have to do you own thing it is the only way. Believe me.

I am trying so, trust me. The thing is, to trade my own way, i will first have to find this own way and therefor you need a starting point. It doesnīt helps me to keep on trading buying and selling randomly from what i THINK is right but still end up losing. I tried all kind of methods, strategies, systems, even fully automated ones over the last years and most of them simply doesnīt work one bit.

So thats why i came here and thought to find some help finally, maybe a method which is not that much subjective i can repeat and find some routine with. Thats where trading just that one "breakout" of the UK open 08-15 bar looked promising to me, as i also donīt need to achieve a hundreds of pips per day/week/month.

And i still think its a good way because here at least time of the day to trade is CLEAR, entry is CLEAR (no lagging indicators needed giving 232323 false signals per day). I also know its not that easy as introduced like with everything in life.

Now i lost today. I donīt care its just one day. Will shut down and stick to my rules. Trying to do better tomorrow, maybe without a fixed Sl.
  • #49,858
  • Jun 8, 2020 3:37am Jun 8, 2020 3:37am
Quoting lddd
See this GU M15 chart If you are going for TP +5 Pips, already hard to achieve if price just running up and down taking out your stop losses several times before direction "maybe" settles and a real "breakout" will happen, but who knows when this will happen or not. Maybe it will keep ranging for 15-20 Pips now for the complete day. {image}
Hi Idd,

Right now my trade is -15 because i hedge in opposite direction in exact same lot size.. my plan is to reduce the loss until the next trigger.. can be HOLO, Wick zone or else plus i will wait for tommorow 08:00 break doubling the lot size..

I did my backtest on this pair 08:00 for the past year, the maximum consecutive lost is 3 days in a row.. so IMO its safe if you apply some MG in this trade..
PIVOT Return This Year: na
  • #49,859
  • Jun 8, 2020 3:39am Jun 8, 2020 3:39am
Quoting claudia1
{quote} Of course I could but ... where's Lem when you need him !!! Hey had 50% win rate on horsies at weekend.
yaaaaaaaaaaaaaaay gee up.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #49,860
  • Jun 8, 2020 3:40am Jun 8, 2020 3:40am
Quoting claudia1
{quote} Seems to me you're listening to a lot of people and trying to replicate what they do - you're not listening to the most important person which is you. I worked with Hanover a few years back when he developed and advisor for me. I'll always remember him saying to me - 'to trade like you I'd have to get inside your head'. He was so right. You have to do you own thing it is the only way. Believe me.
So true Claudia, I think it is one of the most important messages that many start up traders miss, it took me a while to realise this. Whatever technique you use to trade you have to make it your own.
Everything should be made as simple as possible, but no simpler - Einstein
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