Billytt Die happy trading e/j daily breakout | Page 2574 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #51,461
  • Jul 2, 2020 12:49am Jul 2, 2020 12:49am
Quoting mrcreosote
How about trading 15min breakouts all day long? TP +5 SL -5
i will then trade the failure and take your 5;-)

Inserted Video
trading is like dancing, don't think and just listen to the music!
  • #51,462
  • Jul 2, 2020 1:21am Jul 2, 2020 1:21am
Quoting birdland
{quote} i will then trade the failure and take your 5;-) https://www.youtube.com/watch?v=PHdU5sHigYQ
I knew a bass player an Irish lad who played with Dave Brubeck band. many moons ago.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,463
  • Edited Jul 3, 2020 12:36am Jul 2, 2020 1:24am | Edited Jul 3, 2020 12:36am
for some reason I keep thinking it is Fri,
I will still do what I was going to do and just add on, tomorrow
Charts are Cable 1 hour, so you can see,
Monday 29th,
high broke for 17 then dropped for 67.
Attached Image


Tue 30th .
low broke for 36, then retraced to break high for 70
Attached Image (click to enlarge)
Click to Enlarge Name: gu example tues 30th..png Size: 22 KB

wed o1 07.
low broke for 16 then retrace to break high for 20,BUT dropped at X, only to go back up.
Attached Image (click to enlarge)
Click to Enlarge Name: gu example wed 01 07 .png Size: 21 KB

we are not going for exact maximum points on the break, we will leave this to the thieves who try to sell methods/systems etc.
Thur 02-07 high broke for +36
Attached Image (click to enlarge)
Click to Enlarge Name: thur 02 07.png Size: 24 KB


edit, try and see what is happening???? 1st break, 2nd break is a clue
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,464
  • Jul 2, 2020 1:50am Jul 2, 2020 1:50am
Will Mr C, put his shirt on the break of the 08-00 15 minute bar, DAX.
and its one big shirt. yaaaaaaaaaaaaaaaaaaaaaaaay
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,465
  • Jul 2, 2020 2:22am Jul 2, 2020 2:22am
Quoting bojack34
{quote} I think this is the best option when hedging..... Scenario...... We are trading the 08-15 bar and price breaks our upper trigger and goes for 3 pips and turns around and then breaks the lower trigger. Where price is "currently" at is still "above" the lower trigger of the 00-00 bar. At this point do we...... A) Put in a trade at the low of the 08-15 bar to put our trade in limbo. Then we WAIT for the low of the 00-00 bar to be broken, and then we put in another trade (or 2 or double lot size) and chase Modest Daily Range? EDIT......of course...
That's definitely one good way to look at it. Use a completely different trigger to unwind your hedge.

If looking at the 12am-4am bar to unwind the hedge, think about a smaller lot size because the range is much bigger, and if it goes against you, will hurt more.

Edit - this could happen today as price is stuck in no man's land.
  • #51,466
  • Jul 2, 2020 2:23am Jul 2, 2020 2:23am
Quoting billytt
for some reason I keep thinking it is Fri, I will still do what I was going to do and just add on, tomorrow Charts are Cable 1 hour, so you can see, Monday 29th, high broke for 17 then dropped for 67. {image} Tue 30th . low broke for 36, then retraced to break high for 70 {image} wed o1 07. low broke for 16 then retrace to break high for 20,BUT dropped at X, only to go back up. {image} we are not going for exact maximum points on the break, we will leave this to the thieves who try to sell methods/systems etc. I add more tomorrow and Fri edit, try...
Great Stuff Billy.

You, Lem & Claudia always so consistent in your trading methods and advice. Such a great thread and it is much appreciated.

Glad to see you are all well and still doing what you do best.
  • #51,467
  • Jul 2, 2020 2:26am Jul 2, 2020 2:26am
can't say much at the moment got a frog in my throat...
Attached Image
used to be undecided but nowadays can't make my mind up
  • #51,468
  • Jul 2, 2020 2:38am Jul 2, 2020 2:38am
08-00 m15 first trade -15,
double counter +6,5*2= +13
so -2 for this trade cycle...i am happy;-)
trading is like dancing, don't think and just listen to the music!
  • #51,469
  • Jul 2, 2020 2:38am Jul 2, 2020 2:38am
MrC didn't take the break low cos he had one of his special hand drawn lines in the way
But he did take the break high +5 and is currently suffering from a condition known as having too many lines on his chart....
Attached Image (click to enlarge)
Click to Enlarge Name: GU_2020-07-02_09-36-17.png Size: 8 KB
used to be undecided but nowadays can't make my mind up
  • #51,470
  • Jul 2, 2020 2:43am Jul 2, 2020 2:43am
DAX has just broken an IB
Attached Image

It did this earlier too.....
Attached Image (click to enlarge)
Click to Enlarge Name: DAX_2020-07-02_08-13-42.png Size: 6 KB
used to be undecided but nowadays can't make my mind up
  • #51,471
  • Jul 2, 2020 2:44am Jul 2, 2020 2:44am
Cable,, 08-00 15 minute bar break.
Low broke and failed, retrace up and high broke for +5%.
now that's out of the way I fix with a counter and another trade.
plus looking at 2 hour bars etc.
its all good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,472
  • Jul 2, 2020 2:48am Jul 2, 2020 2:48am
Closed the cable trade +9.9 cos it's up against the H4 high
Didn't trade the DAX doh, and it's off and running now
used to be undecided but nowadays can't make my mind up
  • #51,473
  • Jul 2, 2020 2:56am Jul 2, 2020 2:56am
I heard Billy was talking to his broker earlier
Attached Image
used to be undecided but nowadays can't make my mind up
  • #51,474
  • Jul 2, 2020 3:10am Jul 2, 2020 3:10am
Mr C, can you see what I mean.
I, low broke , take that as a fail
2 high broke,
3, high broke
4 high broke.
Attached Image (click to enlarge)
Click to Enlarge Name: dax.png Size: 24 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,475
  • Jul 2, 2020 3:16am Jul 2, 2020 3:16am
OK DAX, the PA was interesting....at 8:06 Europe time it broke the 12350 level (at this time the spread had gone done from 4 methinks to 2) so tradeable...
This is the Frankfurt 'pre-market'....... after that it went on the rampage and hit 12500
Coulda, woulda, shoulda PAY DAY trade +150 in less than 2 hours
I have a plan gather around....
Attached Image (click to enlarge)
Click to Enlarge Name: birdplan.jpeg Size: 33 KB

I think I'll start one of those trading alert services as I appear to be shite at trading this myself
used to be undecided but nowadays can't make my mind up
  • #51,476
  • Jul 2, 2020 3:17am Jul 2, 2020 3:17am
Tried the Frankenbreak (break of 4am-7am range) on EG this morning. My bias was short so I went short on the low break. If only I had looked left I would have seen support in that region. Doh.

Anyway, the low break hit SL and the high break happened. This also hit SL. Hmmm, back to the drawing board.
  • #51,477
  • Jul 2, 2020 3:18am Jul 2, 2020 3:18am
Quoting billytt
Mr C, can you see what I mean. I, low broke , take that as a fail 2 high broke, 3, high broke 4 high broke.
YES IT WAS BEAUTIFUL!
Compound that and €€€€€€€€€€€€€€€€€€
used to be undecided but nowadays can't make my mind up
  • #51,478
  • Edited 3:39am Jul 2, 2020 3:21am | Edited 3:39am
Although everything about Cable is screaming long at the moment, and it has broken the high of the 8am 1 hour bar, I want it to drop, break through the low of the 12am-4am range, and take out the pivot.

Would be interested to hear everyone's thoughts. Billy, Claudia, being Cable veterans, what do you think?

Edit: here's me waiting for a low break, but the high break is paying dividends right now. Almost at R1.
  • #51,479
  • Jul 2, 2020 3:24am Jul 2, 2020 3:24am
EU, ignore my silly 15min dashed lines and that was a 'textbook trade' this morning......
4 hour bar broke in fine style, it retraced pretty much exactly to the previous high, RESISTANCE BECOMES SUPPORT, then went off again....
Attached Image (click to enlarge)
Click to Enlarge Name: EU_2020-07-02_10-22-08.png Size: 6 KB
used to be undecided but nowadays can't make my mind up
  • #51,480
  • Jul 2, 2020 3:25am Jul 2, 2020 3:25am
Quoting mrcreosote
{quote} YES IT WAS BEAUTIFUL! Compound that and €€€€€€€€€€€€€€€€€€
it could happen, that's was about 90 points.
like I said, it isn't my type of trading as it isn't consistent
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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