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Billytt Die happy trading e/j daily breakout

  • #50,101
  • Jun 9, 2020 9:59am Jun 9, 2020 9:59am
Quoting claudia1
{quote} 90% of my trades are sells so yep I trade reversals and break outs. Edit: today wasn't a reversal was just coming off a high.
OK glad you had a good night last night
by 'reversal' I'm thinking 'swing' although my definition might be wrong.....like would you trade a short off that trendline you drew, where that H1 candle has touched it perfectly??
used to be undecided but nowadays can't make my mind up
  • #50,102
  • Jun 9, 2020 10:02am Jun 9, 2020 10:02am
Quoting claudia1
{quote} Little blue box is an indicator. I have it set to on the 1h to open at 03:00 and close at 07:00. High and low of those hours simple as that.
Actually Claudia I'm a little dissappointed with your +65 I would have thought you'd have taken it all the way down to MS2 for exactly +74
used to be undecided but nowadays can't make my mind up
  • #50,103
  • Jun 9, 2020 10:03am Jun 9, 2020 10:03am
Quoting mrcreosote
{quote} OK glad you had a good night last night by 'reversal' I'm thinking 'swing' although my definition might be wrong.....like would you trade a short off that trendline you drew, where that H1 candle has touched it perfectly??
It's not night. Anyway, that's a difficult one to answer and all depends where you draw the t/l. I would want to see the break of the trend line with something else (break of pivot) preferably.
  • #50,104
  • Jun 9, 2020 10:13am Jun 9, 2020 10:13am
Quoting claudia1
Hey Billy 20,000% guy has completely disappeared lol.
Of course he did, BECAUSE he made 20 000% yaaaaaaaaaaaaaaaaaaaaaaaay not.
probably in jail.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,105
  • Jun 9, 2020 10:14am Jun 9, 2020 10:14am
Quoting claudia1
{quote} It's not night. Anyway, that's a difficult one to answer and all depends where you draw the t/l. I would want to see the break of the trend line with something else (break of pivot) preferably.
K so are you still using 'all pivot points' and 'extreme breakout EA Lite'?
used to be undecided but nowadays can't make my mind up
  • #50,106
  • Jun 9, 2020 10:14am Jun 9, 2020 10:14am
Quoting mrcreosote
{quote} Thanks just rub salt in my wounds!!
I am glad i didn't say anything,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,107
  • Jun 9, 2020 10:15am Jun 9, 2020 10:15am
Quoting DavidRP
{quote} Selling machine!
Hi David, where have you been. Long Time No See. I hope you are well and family.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,108
  • Jun 9, 2020 10:16am Jun 9, 2020 10:16am
Quoting mrcreosote
{quote} Actually Claudia I'm a little dissappointed with your +65 I would have thought you'd have taken it all the way down to MS2 for exactly +74
That would be greedy ! Usually get out way too early but stuck it out today.
  • #50,109
  • Jun 9, 2020 10:17am Jun 9, 2020 10:17am
Quoting billytt
{quote} I am glad i didn't say anything,
You know how it is? Some of us want to try and do it 'my way'
BUT I think I might just give up now and trade the Billy Bar
Inserted Video
used to be undecided but nowadays can't make my mind up
  • #50,110
  • Jun 9, 2020 10:18am Jun 9, 2020 10:18am
Quoting mrcreosote
{quote} K so are you still using 'all pivot points' and 'extreme breakout EA Lite'?
Been using daily pivots for years. Haven't used the ea on live but I do have a plan for that.
  • #50,111
  • Jun 9, 2020 10:27am Jun 9, 2020 10:27am
Quoting claudia1
{quote} Been using daily pivots for years. Haven't used the ea on live but I do have a plan for that.
Sounds good. On the chart that you posted, the boxes, where they drawn using 'extreme breakout EA Lite' that you posted a few weeks ago?
used to be undecided but nowadays can't make my mind up
  • #50,112
  • Jun 9, 2020 10:36am Jun 9, 2020 10:36am
Quoting mrcreosote
{quote} Sounds good. On the chart that you posted, the boxes, where they drawn using 'extreme breakout EA Lite' that you posted a few weeks ago?
Nothing to do with ea. Don't have it on the chart. Big box is just yesterday's open/close and is part of the the pivot indicator. Little blue box (wish I'd given it a shorter name) is just an indicator.
  • #50,113
  • Jun 9, 2020 10:40am Jun 9, 2020 10:40am
Quoting MrGreen95
{quote} I think you are overcomplicating it. Open a demo account. Trade for 3 months like that with the amount of capital you want to use live: Billy bar, trade the breakout and aim for +6-7 pips. If you hit TP, well, look for next day If you fail you can do 2 things: take SL and aim for 10-15 pips trading H4 bars Or when you go -10/15 just open an opposite trade so you have now -15 loss blocked in a limbo and take the third trade like a stand-alone trade aiming for +15 pips for go to BE. Pretty the same thing of the first way. Don't focus only...
Thanks for your kind help. Well trading more markets than one for the beginning you would say makes it less complicate? :-)

1 Trade per 1 Day is my current plan. If I aim for 1% per day on 5 Pips a stop loss no matter if locked in at -15 with a hedge or taken out by a hard stop loss would mean I have risked 3R in the hope of making 1R.

3 days losing in a row = -45 Pips

To get back to break even here would require the following 9 days to make 5 Pips without one losing day.

I don’t know anything more simple than doing 1 trade per day at a fixed time and then stop my day after it gets lost or won.

I don’t know how to hedge a failed setup for the M15 08:00 setup described by Billy, that’s why I thought some kind of stop that doesn’t gets hit to often would be okay for now.

i don’t like demo trading, I always trade live, If I am not sure I use small position sizes and paid some few bucks to learn, I am okay with that.

I am just trying to find a simple approach to maybe get 50-100 pips/month without to mich risk put on a single trade by exactly not having to trade more than once per day and look at multiple charts.
  • #50,114
  • Jun 9, 2020 10:55am Jun 9, 2020 10:55am
my best trade today was the fight with the DO-line...i won;-)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5 7,20,50.png Size: 52 KB
trading is like dancing, don't think and just listen to the music!
  • #50,115
  • Jun 9, 2020 11:44am Jun 9, 2020 11:44am
Quoting birdland
{quote} Iddd, warum versuchst du nicht alles was du in den letzten 11 jahren hier gelernt hast zu etwas persönlichem zu verbinden? wenn du alles kombinierst und dich auf ein paar konzentrierst, was dir liegt, dann wirst auch du gewinnen, konstant, jeden tag. alles hat sinn gemacht, was du gelernt hast, zb. runde nummern, trendlinien, bollinger band, inside bars, etc... und wenn du es verbindest, dann hast du dein eigenes system, was nur du alleine so handeln kannst.
:-)

Danke für deine nette Antwort. Ich habe die Hoffnung auch noch nicht aufgegeben. Zumindest scheine ich hier schon einmal im richtigen Thread angekommen zu sein. Mal sehen was und wie ich wo zusammen binden kann.

Diese Breakout Strategie scheint zumindest schon einmal zu meinen persönlichen Umständen zu passen, Handelszeiten etc. allerdings noch große Probleme das mit meinen individuellen Zielen und Risiko Management konstruktiv zu verbinden.

Liebe Grüße.
  • #50,116
  • Jun 9, 2020 11:46am Jun 9, 2020 11:46am
Quoting lddd
{quote} Thanks for your kind help. Well trading more markets than one for the beginning you would say makes it less complicate? :-) 1 Trade per 1 Day is my current plan. If I aim for 1% per day on 5 Pips a stop loss no matter if locked in at -15 with a hedge or taken out by a hard stop loss would mean I have risked 3R in the hope of making 1R. 3 days losing in a row = -45 Pips To get back to break even here would require the following 9 days to make 5 Pips without one losing day. I don’t know anything more simple than doing 1 trade per day at a...
So you have been searching for Eleven Years. Is the end of the road in sight yet ?
every Saint has a past. Every Sinner has a Future
  • #50,117
  • Jun 9, 2020 11:55am Jun 9, 2020 11:55am
Quoting ia1979
{quote} As Bojack34, Lem and probably Billy have all said, if you are looking for an easier method with a high strike rate (80% plus), with potentially 1:1 risk reward, then the AU 4am-8am break is perhaps better suited to your needs. Go for 10 pips on the break with a 10 pip SL. If it fails, come back tomorrow. If you want to keep playing with GU with a 5 pip SL, there's nothing more I can add that hasn't been said already. You lost on GU yesterday, but look at how much you could have made on the break today. Good luck with your trading.
Thank you, yes you are right. I will also look at AU 4-8 soon, right now I think it’s even more important to me to gain consistency by doing one thing at a time.

I wonder, it seems to be all about timing here where setups concentrate on a single price bar/candle.

From most other threads and places i always see traders using all kind of different indicators and filters doing a hell lot of complicated subjective analyses of price charts.
  • #50,118
  • Jun 9, 2020 11:59am Jun 9, 2020 11:59am
Quoting claudia1
{quote} That would be greedy ! Usually get out way too early but stuck it out today.
Claudia was brought up properly. Thus always leaves a little on the plate whereas the less cultured among us would lick the plate clean if no one was looking
( maybe even if in company)
Attached Image
every Saint has a past. Every Sinner has a Future
  • #50,119
  • Jun 9, 2020 12:02pm Jun 9, 2020 12:02pm
Quoting lddd
{quote} Thank you, yes you are right. I will also look at AU 4-8 soon, right now I think it’s even more important to me to gain consistency by doing one thing at a time. I wonder, it seems to be all about timing here where setups concentrate on a single price bar/candle. From most other threads and places i always see traders using all kind of different indicators and filters doing a hell lot of complicated subjective analyses of price charts.
forget indicators, focus more on PA patterns and behaviour. everything down windows to the pricechart is less important then what is actually going on at the x and y price and timeaxis.
trading is like dancing, don't think and just listen to the music!
  • #50,120
  • Jun 9, 2020 12:06pm Jun 9, 2020 12:06pm
Quoting turnip15
{quote} So you have been searching for Eleven Years. Is the end of the road in sight yet ?
No, I am registered here since 2009. I actually heard of the word trading for the first time 2006 and got interested but never had the time.

Then 2008 I went live for the first time after some research and testing out some stupid signal service and blowed up a good amount of money.

Since then I am „involved“ into trading but this doesn’t mean I was actively doing something or even looking at a chart constantly on a daily base.

I am more active now since 2 years again tried out all kind of systems/strategies leading to moderate to negative results but at least didn’t wipe out my account again (also not on a daily base). I am more like a break even trader since then, sometimes losing , gaining back, losing again.

What I found out is, I am good and exits and don’t feel greedy no matter the trade but I totally suck at getting the entry right and all that money/risk controlling parts.
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