Billytt Die happy trading e/j daily breakout | Page 2535 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #50,681
  • Jun 22, 2020 3:21am Jun 22, 2020 3:21am
Quoting turnip15
{quote} We have some deer that walked out of the woods and eat our neighbours roses. Perhaps I could send them around to you ?
Mr T, we have lots of deer here , but no Forest ponies, , no garden as such , so we are ok .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,682
  • Jun 22, 2020 3:25am Jun 22, 2020 3:25am
Quoting turnip15
{quote} We have some deer that walked out of the woods and eat our neighbours roses. Perhaps I could send them around to you ?
HaHa! I've got the same problem but with kangaroos... furry Bast@#$!
  • #50,683
  • Jun 22, 2020 3:42am Jun 22, 2020 3:42am
+5 on GU from m15 08-00, thx
trading is like dancing, don't think and just listen to the music!
  • #50,684
  • Jun 22, 2020 4:50am Jun 22, 2020 4:50am
Quoting Nikl
{quote} HaHa! I've got the same problem but with kangaroos... furry Bast@#$!
WOW,,,,,, Roos.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,685
  • Jun 22, 2020 5:14am Jun 22, 2020 5:14am
Quoting lddd
GU 08:00. +1% booked and i am done. But actually poor exit if you see where its heading now. Anyways i am not greedy but it might be from advantage staying in a profitable trade a bit longer to cover the losing days. Maybe anyone here could teach me if there would be a way i could stayed long in a trade here for some X more without increasing initial risk / giving back my profits (7,2 made). {image} Not sure if the single trade, single entry, single exit here is the way to go long term. If i would have to pay the bills from it i would have to add...
Try a trailing stop EA (expert adviser).

I think you've been trying this method for a couple of weeks now. Most of the days have been winners so far. Hopefully that should give you some cushion now against losing days.

I agree, to make a living from this you need to put on big lots (like Billy does). Question is, can you afford to lose 3 days in a row (15 pips a day) at 10 lots a pip? On a 100k account that would be a drawdown of near enough 5%.
  • #50,686
  • Jun 22, 2020 5:17am Jun 22, 2020 5:17am
How do we obtain more points/%%%%% ???????.
First, i trade for 5 points and no more.

It all depends on bank balance and trade size.
in my case, I make more following a fail.

Different Trades.
Trade 1, trade as normal, at 1 per point, I spread bet. take 5
Trade 2. Trade as normal at 1 per point BUT trade 2 trades, take 5 points and let second run. But to where????
Trade 3, Trade as normal at 1 per point, If it retraces back into 08-00 range , put in a second trade at 1. take 5, let the other trade run.

As Bo pointed out and a thing we know, you can just trade a retrace trade, with less risk, if it fails.
if using small account it is very hard to make a living off it.
Just concentrate on making a % percent gain.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,687
  • Jun 22, 2020 5:36am Jun 22, 2020 5:36am
How do we obtain more points. ??????
Then we have compounding, we have a winning trade, add a small amount extra on the next trade, or even double it.
AND YES, it can fail.,

For extra points, we need to focus on price which keeps moving, ie Daily Range.
The 00-00 4 hour bar range is ideal. we have 1st break, ok it might keep going for x amount OR Retrace, this is better as we have a good chance/odds of making a lot if not all the average daily range ( ADR).
Attached Image


so ,,,, we can have break, let it make I amount and add another trade on to it,
we now have xx, if it keeps moving add another x amount on to it.
example below, e/u today, AND NO , I have not traded like this today, lol. and it is a good example because it retraced.
the 00-00 T High broke, so we went long,
once it makes 10 points , add another trade AND we have a 10 stop, Yes STOP,
it makes another 10, so add another trade AND a stop.
we do this, because if it retraces down we still win off the second trade.
It makes another 10 points, so add another trade with a stop.
Guess What????? it retraced so we close the fail , and becvause we are not greedy we close the other 2 winning trades.

this happened today, and is still happeneing,
same with cable,
you work prices out !
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,688
  • Jun 22, 2020 5:41am Jun 22, 2020 5:41am
AU 4am to 8am break successful for +10 pips again today.

Last week we had 3 winners. 1 day where the high broke, didn't make +10 and the low never broke either. And 1 day where we had a fail but then the other side broke and made over +10.

Be careful as sometimes the 4am-8am range can be quite big, meaning if one side breaks, it could go into all sorts of drawdown before continuing in the direction of the original break.
  • #50,689
  • Jun 22, 2020 6:13am Jun 22, 2020 6:13am
Quoting billytt
How do we obtain more points. ?????? Then we have compounding, we have a winning trade, add a small amount extra on the next trade, or even double it. AND YES, it can fail., For extra points, we need to focus on price which keeps moving, ie Daily Range. The 00-00 4 hour bar range is ideal. we have 1st break, ok it might keep going for x amount OR Retrace, this is better as we have a good chance/odds of making a lot if not all the average daily range ( ADR). {image} so ,,,, we can have break, let it make I amount and add another trade on to it, we...
Thanks for this Billy and hello to everyone. I missed this morning having to run about after our 3 month Ridgeback (nickname ASBO) and help doing a teachers job for my young un...

I traded like this for awhile but always struggled with stop outs eating profits up. Trading like a machine I would eventually tag onto a decent trend and it made up for the small losses every couple of weeks though. I had about 35% win rate in the end but was still profitable. Mentally though it is extremely tough trying to catch that trend.

Countering is the saviour of my sanity now!

Just wondering Billy, do you ever counter with the add-ons if they also fail at the 1st one?
  • #50,690
  • Jun 22, 2020 6:44am Jun 22, 2020 6:44am
Quoting Fagin
{quote} Thanks for this Billy and hello to everyone. I missed this morning having to run about after our 3 month Ridgeback (nickname ASBO) and help doing a teachers job for my young un... I traded like this for awhile but always struggled with stop outs eating profits up. Trading like a machine I would eventually tag onto a decent trend and it made up for the small losses every couple of weeks though. I had about 35% win rate in the end but was still profitable. Mentally though it is extremely tough trying to catch that trend. Countering is the...
Hey. I think he was saying any add on trades usually have a stop.
  • #50,691
  • Jun 22, 2020 6:48am Jun 22, 2020 6:48am
Quoting Fagin
{quote} Thanks for this Billy and hello to everyone. I missed this morning having to run about after our 3 month Ridgeback (nickname ASBO) and help doing a teachers job for my young un... I traded like this for awhile but always struggled with stop outs eating profits up. Trading like a machine I would eventually tag onto a decent trend and it made up for the small losses every couple of weeks though. I had about 35% win rate in the end but was still profitable. Mentally though it is extremely tough trying to catch that trend. Countering is the...
Hi Fagin, hope you are well,
a good question...….
Example,, we will add on every 10 ( mine was always 15 /20).
SO,,, we enter and it makes 10 points at 1 per point.
we then add another trade at 1 per point with a 8/9 stop.
if it fails we still make 1 or 2. plus the original 10.
Never Ever Think, oh i could of had 10.

IF it goes back into the break area, we can do a retrace trade , trading in the same direction and repeat.
When i was properly compounding , and doubling every trade, i was very strict on my compound trades
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,692
  • Jun 22, 2020 6:50am Jun 22, 2020 6:50am
Quoting ia1979
{quote} Hey. I think he was saying any add on trades usually have a stop.
you will find it best to have a stop when adding on,
but you can counter, but with a stop you can have a smaller bank roll.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,693
  • Jun 22, 2020 6:55am Jun 22, 2020 6:55am
Quoting billytt
{quote} Hi Fagin, hope you are well, a good question...…. Example,, we will add on every 10 ( mine was always 15 /20). SO,,, we enter and it makes 10 points at 1 per point. we then add another trade at 1 per point with a 8/9 stop. if it fails we still make 1 or 2. plus the original 10. Never Ever Think, oh i could of had 10. IF it goes back into the break area, we can do a retrace trade , trading in the same direction and repeat. When i was properly compounding , and doubling every trade, i was very strict on my compound trades
Thanks B, I am well thanks, hope you are too. This is kind of what I'm doing, I'm just trying to figure out the messy bit in between...!

Cheers

F
  • #50,694
  • Jun 22, 2020 7:15am Jun 22, 2020 7:15am
Quoting Fagin
{quote} Thanks B, I am well thanks, hope you are too. This is kind of what I'm doing, I'm just trying to figure out the messy bit in between...! Cheers F
its mainly chart watching, or just try and look back over a few old charts.

ideally, like last week, we had 00-00 low break, and inside bar low break and the 08-00 low break and down it went, adding on was good.

once you get adept, you can have retrace, fail, re enter, just play it like a game.

Just watch the daily range and perhaps the 00-00 4 hr range for guidance.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50,695
  • Jun 22, 2020 7:29am Jun 22, 2020 7:29am
Quoting billytt
{quote} its mainly chart watching, or just try and look back over a few old charts. ideally, like last week, we had 00-00 low break, and inside bar low break and the 08-00 low break and down it went, adding on was good. once you get adept, you can have retrace, fail, re enter, just play it like a game. Just watch the daily range and perhaps the 00-00 4 hr range for guidance.
Great, thanks Billy.
  • #50,696
  • Jun 22, 2020 8:15am Jun 22, 2020 8:15am
Another go on the GU while the DAX has a word with itself:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD(£)M3 22_06.png Size: 32 KB
Everything should be made as simple as possible, but no simpler - Einstein
  • #50,697
  • Jun 22, 2020 8:47am Jun 22, 2020 8:47am
Quoting Davidh061
Another go on the GU while the DAX has a word with itself: {image}


Was buying in around there too

Attached Image
  • #50,698
  • Jun 22, 2020 8:48am Jun 22, 2020 8:48am
Quoting stu
{quote} Was buying in around there too {image}
Hi Stu, I'm out for BE +1!
Everything should be made as simple as possible, but no simpler - Einstein
  • #50,699
  • Jun 22, 2020 8:52am Jun 22, 2020 8:52am
Quoting Davidh061
{quote} Hi Stu, I'm out for BE +1!
I mentioned 'elsewhere' that today seems to have been one of those happy days for me.....almost every trade ended up as planned. I'll siphon off some of that cheer now to top me up the next few days when it isn't so easy!!
  • #50,700
  • Jun 22, 2020 8:56am Jun 22, 2020 8:56am
Quoting stu
{quote} I mentioned 'elsewhere' that today seems to have been one of those happy days for me.....almost every trade ended up as planned. I'll siphon off some of that cheer now to top me up the next few days when it isn't so easy!!
Grab them when you can!
Everything should be made as simple as possible, but no simpler - Einstein
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