Billytt Die happy trading e/j daily breakout | Page 2522 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #50,421
  • Jun 16, 2020 9:17am Jun 16, 2020 9:17am
it hasn't been too easy today, I had some trouble.
I had a cable short appear, no idea how it happened and it immediately went negative for ages lol, But just about sorted it.
I am still in profit as ne/u became good, plus the 08-00 cable break.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,422
  • Jun 16, 2020 9:49am Jun 16, 2020 9:49am
Quoting billytt
it hasn't been too easy today, I had some trouble. I had a cable short appear, no idea how it happened and it immediately went negative for ages lol, But just about sorted it. I am still in profit as ne/u became good, plus the 08-00 cable break.
edit, BUT, we had the BOOM on Cable just, to add the coupe de gras,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,423
  • Jun 16, 2020 10:17am Jun 16, 2020 10:17am
Quoting ia1979
{quote} Hope you're well Billy. When looking at 4 hour trades, do you normally work on four one hourly bars? I can't seem to find a chart anywhere showing me a 4 hour chart that starts at midnight UK time if you know what I mean. Most of them start at 10pm the day before. Thanks.
yeah you gotta make your own. I have same issue living in US. I just use an indicator that uses M15 candles and then I go from there. It's easy.
  • #50,424
  • Jun 16, 2020 11:09am Jun 16, 2020 11:09am
Oh come on Gnomey! Billy only said, " lend me your ears' cos he was reading aloud from his Shakespeare book.
Attached Image
every Saint has a past. Every Sinner has a Future
  • #50,425
  • Jun 16, 2020 11:55am Jun 16, 2020 11:55am
Quoting turnip15
Oh come on Gnomey! Billy only said, " lend me your ears' cos he was reading aloud from his Shakespeare book. {image}
Would that be Gnomeo and Juliet ?
  • #50,426
  • Jun 16, 2020 12:41pm Jun 16, 2020 12:41pm
I am plus 5.15% after 9 trades and 7 days on the Billy Bar.

Can’t wait to see some fails dropping in, with my current 1 trade per day and 3:1 risk:reward tactic this will become fun
  • #50,427
  • Jun 16, 2020 12:49pm Jun 16, 2020 12:49pm
Quoting claudia1
{quote} Would that be Gnomeo and Juliet ?
That's the one
Attached Image
every Saint has a past. Every Sinner has a Future
  • #50,428
  • Jun 16, 2020 12:53pm Jun 16, 2020 12:53pm
Quoting lddd
I am plus 5.15% after 9 trades and 7 days on the Billy Bar. Can’t wait to see some fails dropping in, with my current 1 trade per day and 3:1 risk:reward tactic this will become fun
Think you have your risk/reward the wrong way. Should be risk 1 reward 3. Maybe i'm wrong and that's the way you trade.
  • #50,429
  • Jun 16, 2020 1:15pm Jun 16, 2020 1:15pm
Quoting claudia1
{quote} Think you have your risk/reward the wrong way. Should be risk 1 reward 3. Maybe i'm wrong and that's the way you trade.
As far as I remember if you don't use the limbo stop concept but a hard stop you cannot survive a 5 pip stop loss on GB US. However TP1 is 5 pips - so RR is inverse to the usual rules meaning hit rate has to be very - high 75% plus.

.
  • #50,430
  • Jun 16, 2020 1:23pm Jun 16, 2020 1:23pm
Quoting claudia1
{quote} Think you have your risk/reward the wrong way. Should be risk 1 reward 3. Maybe i'm wrong and that's the way you trade.
Yes but Billy says target for 5 pips so where should my stop loss be then, -1,5 Pips ? That would pretty sure stop me out 19 times of 20 days.
  • #50,431
  • Jun 16, 2020 1:28pm Jun 16, 2020 1:28pm
Quoting Shaishen
{quote} As far as I remember if you don't use the limbo stop concept but a hard stop you cannot survive a 5 pip stop loss on GB US. However TP1 is 5 pips - so RR is inverse to the usual rules meaning hit rate has to be very - high 75% plus. .
Really don't understand what you're trying to say

R:R = risk v reward which ever way you look at it. So risking 3 to get 1 is high risk to me.

Simple stuff.
  • #50,432
  • Edited 1:59pm Jun 16, 2020 1:31pm | Edited 1:59pm
Quoting lddd
{quote} Yes but Billy says target for 5 pips so where should my stop loss be then, -1,5 Pips ? That would pretty sure stop me out 19 times of 20 days.
Well don't trade it then. Go trade the breaks of the hour bar high and low. Visually back test it easily.
  • #50,433
  • Jun 16, 2020 2:13pm Jun 16, 2020 2:13pm
Quoting claudia1
{quote} Really don't understand what you're trying to say R:R = risk v reward which ever way you look at it. So risking 3 to get 1 is high risk to me. Simple stuff.
What I am trying to say is that GU with 5 pip SL is "suicide" as billy and other traders here pointed out to @Iddd

However the rule suggested is TP 5 pips

Unless Iddd applies the limbo stoploss concept he has to have a hard SL far enough away to avoid being taken out constantly.

I realize 3:1 RR is inverse to what makes sense.

(Imo TP targets is guesswork we assume based on stats adr etc - we can only control the SL)
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  • #50,434
  • Jun 16, 2020 2:16pm Jun 16, 2020 2:16pm
Quoting claudia1
{quote} Would that be Gnomeo and Juliet ?
Yaaaaaaay
Gnomeo Gnomeo, where fore art though. Yaaaay luv it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,435
  • Jun 16, 2020 2:19pm Jun 16, 2020 2:19pm
Quoting billytt
{quote} Yaaaaaaay Gnomeo Gnomeo, where fore art though. Yaaaay luv it
Lol i nearly wrote 'lem where fore art though' huge horsey week at Ascot.
  • #50,436
  • Jun 16, 2020 2:24pm Jun 16, 2020 2:24pm
Quoting Shaishen
{quote} What I am trying to say is that GU with 5 pip SL is "suicide" as billy and other traders here pointed out to @Iddd However the rule suggested is TP 5 pips Unless Iddd applies the limbo stoploss concept he has to have a hard SL far enough away to avoid being taken out constantly. I realize 3:1 RR is inverse to what makes sense. (Imo TP targets is guesswork we assume based on stats adr etc - we can only control the SL) .
Glad to see at least one person seems to understand what I am trying to figure out all the time so far.
  • #50,437
  • Jun 16, 2020 2:26pm Jun 16, 2020 2:26pm
[quote=Shaishen;13008013]{quote} What I am trying to say is that GU with 5 pip SL is "suicide" as billy and other traders here pointed out to @Iddd However the rule suggested is TP 5 pips Unless Iddd applies the limbo stoploss concept he has to have a hard SL

Hi S, I understand what you write.
First trade has a very high strike rate.
If you get the 5 first break that is great.
BUT, my trade is based on 2 or more parts.
Meaning, I have my first break, then 2nd other end break/ counter. I actually expect to lose.
As I say, like a champion boxer, he might get punched a couple of times and then he batters the opposition.
Trade Well, and yes tight stops are suicide.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,438
  • Jun 16, 2020 2:28pm Jun 16, 2020 2:28pm
Quoting claudia1
{quote} Lol i nearly wrote 'lem where fore art though' huge horsey week at Ascot.
I messaged Lem, hoping he is well etc.
Have you seen the Wicker Man?? I reckon we re enact it in here.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,439
  • Jun 16, 2020 2:28pm Jun 16, 2020 2:28pm
Quoting lddd
{quote} Glad to see at least one person seems to understand what I am trying to figure out all the time so far.
I speak German and I understand your Gedankenvorgang

.
  • #50,440
  • Jun 16, 2020 2:30pm Jun 16, 2020 2:30pm
Quoting billytt
{quote} I messaged Lem, hoping he is well etc. Have you seen the Wicker Man?? I reckon we re enact it in here.
I have seen it lol.

Lem will be ok just taking a well earned break. Maybe US sports are back on which means he'll be on night shift.
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