Billytt Die happy trading e/j daily breakout | Page 2520 | 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

  • #50,381
  • Jun 16, 2020 12:03am Jun 16, 2020 12:03am
Quoting ia1979
{quote} Good effort today. Even when scalping, you must have a base method you're using?
i have that everyday and its very simple: what i learned here in ff the last years, all the systems i put together and trade from several templates. thats it, quite simple.
trading is like dancing, don't think and just listen to the music!
  • #50,382
  • Jun 16, 2020 12:42am Jun 16, 2020 12:42am
Quoting turnip15
{quote} Handful of pips - 70 pips. A very good haul if you were trading for £10 a pip
£25
trading is like dancing, don't think and just listen to the music!
  • #50,383
  • Jun 16, 2020 12:50am Jun 16, 2020 12:50am
Quoting birdland
{quote} i have that everyday and its very simple: what i learned here in ff the last years, all the systems i put together and trade from several templates. thats it, quite simple.
We will send you invoice later, lol.
Well done.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,384
  • Jun 16, 2020 1:07am Jun 16, 2020 1:07am
Quoting bojack34
Billy, I have a hypothetical question for you. If you were to have an EA and one of the inputs was to trade the "2nd trigger" and go for "daily range". What % of the daily range would you shoot for? I know you go for "modest range" and I think I remember somewhere you saying 60%, but I also remember reading somewhere 75%. Can you tell me, what would you use as a % in this situation?
Hi BO, I was going to post some old posts referring to question.

quite often I will say 00-00 4 hr break, high broke and I am looking for x.
I normally look for 50% of the 00-00 4 bar.
so today, the 00-00 4 range is 52, therefore I will look for approx. 26 points.

I am not actually doing that today as i posted earlier, BUT , at time of posing this, it has made +17.
If it retraces get out with what you can.
If it retraces back into 00-00 range, you can add a cheeky trade and long again, so reducing risk.
Then if it breaks opposite side, you now have good stats to chase the daily range.

i am doing this for fun now, but ages ago i was fixing a fail, so i only needed my 5% plus the points i had failed with.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,385
  • Jun 16, 2020 1:11am Jun 16, 2020 1:11am
Quoting billytt
{quote} Hi BO, I was going to post some old posts referring to question. quite often I will say 00-00 4 hr break, high broke and I am looking for x. I normally look for 50% of the 00-00 4 bar. so today, the 00-00 4 range is 52, therefore I will look for approx. 26 points. I am not actually doing that today as i posted earlier, BUT , at time of posing this, it has made +17. If it retraces get out with what you can. If it retraces back into 00-00 range, you can add a cheeky trade and long again, so reducing risk. Then if it breaks opposite side, you...
What % of the Daily Range would you chase? Do you look to get 60% of the 5 day ADR? 75% of the 5 day ADR?
  • #50,386
  • Jun 16, 2020 1:13am Jun 16, 2020 1:13am
[quote=billytt;13006103]{quote} Hi BO, I was going to post some old posts referring to question. quite often I will say 00-00 4 hr break, high broke and I am looking for x. I normally look for 50% of the 00-00 4 bar. so today, the 00-00 4 range is 52, therefore I will look for approx. 26 points. I am not actually doing that today as i posted earlier, BUT , at time of posing this, it has made +17. If it retraces get out with what you can. If it retraces back into 00-00 range, you can add a cheeky trade and long again, so reducing risk. Then if it breaks opposite side, you now have good stats to chase the daily range. i am doing this for fun now, but ages ago i was fixing a fail, so i only needed my 5% plus the points i had failed with.[/quote
This one will have to go into the notes. I'm not sure if you've ever shared this little nugget. I do know that your lot size it a lot different off of this bar on our initial trade compared to your main trade......therefore you go for half the range. I'm really trying to concentrate on the "chasing the modest daily range"
  • #50,387
  • Jun 16, 2020 1:14am Jun 16, 2020 1:14am
Quoting birdland
lem said about hedging: "The key to these trades is to attempt as best you can, once you clear the spread, to never let them go negative. This is why I will use the scalping method, which looks to jump on board momo (momentum) and ride it for a quick handful and get out. If they look to turn on you, close them out. Bag a couple of pips, one pip, a quarter...it doesn't matter. Bag it. They mount up." may i ask (everybody) , if they (the scalps) mount up why then doing anything else? today i made 70 pips with this taking a few, handful pips.

Hi Bird, I scalp sometimes when I am bored and normally off the 5 minute bar.. (sometimes) .
The only trouble is, I am not confident enough to bet hard on it.
I cannot say with confidence that I will make 25% in 5 trading days.
With trading the 08-00 break, I can.
Like the saying goes, horses for courses.
I know people can make a lot scalping several trades with momo.
Actually, I scalp off the 08-00 bar lol, So I am told, I disagree yaaaaaaaaaaaaaaaaaay.
You are doing well, carry on.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,388
  • Jun 16, 2020 1:23am Jun 16, 2020 1:23am
Quoting bojack34
Quoting billytt
{quote} Hi BO, I was going to post some old posts referring to question. quite often I will say 00-00 4 hr break, high broke and I am looking for x. I normally look for 50% of the 00-00 4 bar. so today, the 00-00 4 range is 52, therefore I will look for approx. 26 points. I am not actually doing that today as i posted earlier, BUT , at time of posing this, it has made +17. If it retraces get out with what you can. If it retraces back into 00-00 range, you can add a cheeky trade and long again, so reducing risk. Then if it
...
How often do I post, on a bad day cable gets 70, That is something to look at.
today , 00-00 range is 52, 70 - 52 = 18. so far it has made 17??????
Actually look at the candles/bars for the last 5 days 139-107-182-180-174 look for any freaky ones, example 139-107-300-180-174 ,,,,,the lowest bar for the last 5 days 107, 107 - todays 52 = 55, ( look for 55 points or part.. a freaky bar can make the adr not true.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,389
  • Jun 16, 2020 1:33am Jun 16, 2020 1:33am
Quoting billytt
{quote} Hi Bird, I scalp sometimes when I am bored and normally off the 5 minute bar.. (sometimes) . The only trouble is, I am not confident enough to bet hard on it. I cannot say with confidence that I will make 25% in 5 trading days. With trading the 08-00 break, I can. Like the saying goes, horses for courses. I know people can make a lot scalping several trades with momo. Actually, I scalp off the 08-00 bar lol, So I am told, I disagree yaaaaaaaaaaaaaaaaaay. You are doing well, carry on.
thx billy!
yes, the 08-00 bar trade is a great thing you found and i have implemeted it into my trading.
years ago i was trading 28 pairs plus oil, indices, gold trading it with one approach. i went crazy with "symbol changer"indi and several monitors.

nowadays i concentrate only on GU (volatile and small spread, no DAX, no EU) looking at m1, m5, m15, m30, h1, h4 and daily chart and different templates of the many great systems here from ff and other forums i have seen in the last years. for example if i see a range big bar i switch to tooslow`s template H1 and go for my +5. then i see a "choros" trade and take +10,+15 from there...this adds up during a day. and i still can make my lunch-break and woodwalks. and i dont need to trade everyday.
trading is like dancing, don't think and just listen to the music!
  • #50,390
  • Jun 16, 2020 1:54am Jun 16, 2020 1:54am
chart copied a few minutes ago.
E/U 2 hour bar, T = 00-00 4 range trigger,
the black line measures 114, this is my adr for today.
it doesn't show the actual high/low daily range area, it shows where it can go from right now, at approx. 50%.( might be a bit out).
I am currently trading e/u . I close my cable earlier , trading off the 04-00 2 hour bar.

e/u currently beinga bit naughty, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,391
  • Jun 16, 2020 1:56am Jun 16, 2020 1:56am
Quoting birdland
{quote} thx billy! yes, the 08-00 bar trade is a great thing you found and i have implemeted it into my trading. years ago i was trading 28 pairs plus oil, indices, gold trading it with one approach. i went crazy with "symbol changer"indi and several monitors. nowadays i concentrate only on GU (volatile and small spread, no DAX, no EU) looking at m1, m5, m15, m30, h1, h4 and daily chart and different templates of the many great systems here from ff and other forums i have seen in the last years. for example if i see a range big bar i switch to tooslow`s...
that's good bud, make it your own..

like I say, I trade one big trade, one pair lol BAM
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,392
  • Jun 16, 2020 2:07am Jun 16, 2020 2:07am
speaking e/u, there was nothing wrong with me trading off the 00-00 4 hr bar , range of 22
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,393
  • Jun 16, 2020 2:18am Jun 16, 2020 2:18am
08.00 lo broke, +5
PIVOT Return This Year: na
  • #50,394
  • Jun 16, 2020 2:19am Jun 16, 2020 2:19am
billy bar +12.3 get in!!!!
used to be undecided but nowadays can't make my mind up
  • #50,395
  • Jun 16, 2020 2:23am Jun 16, 2020 2:23am
+6, thx billy!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1billy16.6..png Size: 63 KB
trading is like dancing, don't think and just listen to the music!
  • #50,396
  • Jun 16, 2020 2:30am Jun 16, 2020 2:30am
Mr T will like this one
Attached Image
used to be undecided but nowadays can't make my mind up
  • #50,397
  • Jun 16, 2020 2:32am Jun 16, 2020 2:32am
Quoting mrcreosote
Mr T will like this one {image}
yaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,398
  • Jun 16, 2020 2:33am Jun 16, 2020 2:33am
cable, you guys beat me to it. 08-00 15 minute break, low broke for +5%, again lol.
DON'T FORGET...………. IT CAN FAIL....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,399
  • Jun 16, 2020 2:36am Jun 16, 2020 2:36am
this is how a simple m1 chart from me looks this morning...and i am done.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 41 KB
trading is like dancing, don't think and just listen to the music!
  • #50,400
  • Jun 16, 2020 2:44am Jun 16, 2020 2:44am
GBP/USD 08:00 +1% (7 Pips)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-fxopen-investments-inc-4.jpg Size: 131 KB


I am done.

But

08:00 Range: 18 Pips
ADR: 92

According to this i ask myself if i should have better stayed out? SL/Counter would have been the opposite trigger of the 08:00 bar, the high. Range was 18 Pips, so i gave it room to breathe in case of retracing back on me for 18 Pips. But my max. allowed risk would say 15 Pips.

Now if it would have failed instead, went only 0-6 Pips in my favor and then retraced back on me all the way back until X. All i could hope for is that the opposite buy order would have been triggered and at least to account for +1% (7 Pips) right?

This way i would have left 18-7= -11 Pips. That would require 2 days in a row +7 to recover from the loss.

Would love to hear some feedback from you.

So what now? I am done for the day again. So much time left... Well, will have a nice breakfast now first. See you later
7 traders viewing now