Billytt Die happy trading e/j daily breakout | Page 2655 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #53,081
  • Aug 25, 2020 8:38am Aug 25, 2020 8:38am
Quoting ia1979
{quote} Yeah it looks like it. That is a big wick though, and I suspect we might close higher than we are just now. A close above yesterday's high might bring DR2 back into play?
In at 48 see where it goes
  • #53,082
  • Aug 25, 2020 8:44am Aug 25, 2020 8:44am
Quoting claudia1
{quote} In at 48 see where it goes
You were right to get in when you did. I was stupidly waiting for a bounce back up before selling lol.
  • #53,083
  • Edited 9:14am Aug 25, 2020 8:44am | Edited 9:14am
Quoting ia1979
{quote} Was waiting for a short break after 1:15pm on Gold, but it never happened. Long break has happened but a lot of resistance in this area so I'm on the fence for now. GU is on fire. Claudia let me know when you begin selling, I'll join the club lol.
i heard a whisper cable to drop any time.
that means nothing to me lol.
t 14-44
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,084
  • Aug 25, 2020 8:46am Aug 25, 2020 8:46am
Quoting claudia1
{quote} In at 48 see where it goes
Quick +7
  • #53,085
  • Aug 26, 2020 1:50am Aug 26, 2020 1:50am
hi all, I hope everyone is well.

00-00 4 hour bar break.
Both Cable & e/u have broken low, i am leaving these again but might trade later.
Cable seems to be moving up again due no doubt to dollar index being bashed,
I will trade 08-00 break.
Trade well all.
t 07-50
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,086
  • Aug 26, 2020 2:17am Aug 26, 2020 2:17am
Cable 08-00 break.
i am long , as last bar closed mine was open.
sometimes i do not trade these. |Lets see.
t 08-17
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,087
  • Aug 26, 2020 2:22am Aug 26, 2020 2:22am
i will stick a cheeky retrace long on.
t08-21
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,088
  • Aug 26, 2020 2:31am Aug 26, 2020 2:31am
yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay lol.

Cable 08-00 bar, High broke for +5% and a bag full off that cheeky retrace long.. those retrace trades can and do fail, but if they fail you lose less.
Trade well all.
t 08-31
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,089
  • Aug 26, 2020 3:10am Aug 26, 2020 3:10am
Quoting billytt
yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay lol. Cable 08-00 bar, High broke for +5% and a bag full off that cheeky retrace long.. those retrace trades can and do fail, but if they fail you lose less. Trade well all. t 08-31
interesting and logical. i do that also sometimes when i am in a good mood;-)

when you do your collecting of the retrace trades inside a pattern, do you use much smaller positions or the same of the original position size?
trading is like dancing, don't think and just listen to the music!
  • #53,090
  • Aug 26, 2020 3:32am Aug 26, 2020 3:32am
Quoting birdland
{quote} interesting and logical. i do that also sometimes when i am in a good mood;-) when you do your collecting of the retrace trades inside a pattern, do you use much smaller positions or the same of the original position size?
Hi Bud, hope you are well.
i was trading the 08-00 15 bar break with my big trade , so i trade the same with a retrace trade.
This doesn't happen too often with my main trade.
my retrace post was at 08-21 and then shortly after i went long.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 26 08 20 a.png Size: 21 KB
A = area i went long just after the post, BUT B was the bar that made the %%%. it moved fast. It happens. i almost closed trade for +1 or 2 lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,091
  • Aug 26, 2020 4:00am Aug 26, 2020 4:00am
Quoting billytt
{quote} Hi Bud, hope you are well. i was trading the 08-00 15 bar break with my big trade , so i trade the same with a retrace trade. This doesn't happen too often with my main trade. my retrace post was at 08-21 and then shortly after i went long. {image}A = area i went long just after the post, BUT B was the bar that made the %%%. it moved fast. It happens. i almost closed trade for +1 or 2 lol
Morning Billy, so in this case a retrace trade is where you go in the original direction of the break, but only after price has retraced a bit, is that correct?

I sometimes get mixed up with retrace trades and counter trades lol.
  • #53,092
  • Aug 26, 2020 4:01am Aug 26, 2020 4:01am
Retrace Trades, Lem has a name for these sorts of trade,
i call them more opportunist.
Let me explain .
08-00 bar, High=13149... Low = 13134... So range is 15.
Attached Image
1 = High broke.
2 = then retrace down into 08-00 range.
3 = lets say, we enter a long retrace at here at 13142,

SOOOOOO if it loses , we lose 8 and not 15. 15 being the original long off high break.
So we enter long and it did drop more =4, then up it went.
We can use this trade as a first trade,, we might lose some entries but it is good.
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,093
  • Aug 26, 2020 4:04am Aug 26, 2020 4:04am
Quoting ia1979
{quote} Morning Billy, so in this case a retrace trade is where you go in the original direction of the break, but only after price has retraced a bit, is that correct? I sometimes get mixed up with retrace trades and counter trades lol.
Correct, a counter is off the fail,
Sometimes we might not get the first break trade on for what ever reason, so we enter where/when we can.

i did explain after your last post, hope you can follow.
Hope you are well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,094
  • Aug 26, 2020 4:06am Aug 26, 2020 4:06am
Quoting billytt
Retrace Trades, Lem has a name for these sorts of trade, i call them more opportunist. Let me explain . 08-00 bar, High=13149... Low = 13134... So range is 15. {image}1 = High broke. 2 = then retrace down into 08-00 range. 3 = lets say, we enter a long retrace at here at 13142, SOOOOOO if it loses , we lose 8 and not 15. 15 being the original long off high break. So we enter long and it did drop more =4, then up it went. We can use this trade as a first trade,, we might lose some entries but it is good. Trade well all.
Makes perfect sense Billy. It means you are getting in at a better price in the direction of the original break (especially if the original break is not one's preferred direction), and if it fails, there's a heck of a lot less to counter. Lem calls them wick zone trades. He would normally buy/sell as price leaves the wick of a candle. More prone to whip I suppose but it means less to make up if it goes wrong.
  • #53,095
  • Aug 26, 2020 4:18am Aug 26, 2020 4:18am
Long on Dax. Looking for it to get near the 13200 level. It has been messing around so far.
  • #53,096
  • Aug 26, 2020 4:25am Aug 26, 2020 4:25am
Quoting ia1979
{quote} Makes perfect sense Billy. It means you are getting in at a better price in the direction of the original break (especially if the original break is not one's preferred direction), and if it fails, there's a heck of a lot less to counter. Lem calls them wick zone trades. He would normally buy/sell as price leaves the wick of a candle. More prone to whip I suppose but it means less to make up if it goes wrong.
Absolutely correct.
Another one i do, if we have the 00-00 range which normally has a bigger range.
Example, if low breaks then retraces short it , if it drops either close it or hold so you make the original break plus 5,
lets say you close the short whilst it is still in the range area and then it moves up again, Short it again, if it goes up short it,
You can keep shorting until the actual +5 is made OR if it actually does fail.

NOW THE KILLER, forget the +5 , lets say we are hunting the adr
we can make a lot of ££££££££ /$$$$$$$$
i do trades like this to build my bank just in case of a fail and it helps with the counter etc.
As long as i have +25% after 5 trade days, this is what i play for.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,097
  • Aug 26, 2020 4:31am Aug 26, 2020 4:31am
Quoting billytt
{quote} Absolutely correct. Another one i do, if we have the 00-00 range which normally has a bigger range. Example, if low breaks then retraces short it , if it drops either close it or hold so you make the original break plus 5, lets say you close the short whilst it is still in the range area and then it moves up again, Short it again, if it goes up short it, You can keep shorting until the actual +5 is made OR if it actually does fail. NOW THE KILLER, forget the +5 , lets say we are hunting the adr we can make a lot of ££££££££ /$$$$$$$$...
This is getting printed and laminated lol. Brilliant stuff. Cheers Billy.
  • #53,098
  • Aug 26, 2020 4:39am Aug 26, 2020 4:39am
Quoting billytt
{quote} Hi Bud, hope you are well. i was trading the 08-00 15 bar break with my big trade , so i trade the same with a retrace trade. This doesn't happen too often with my main trade. my retrace post was at 08-21 and then shortly after i went long. {image}A = area i went long just after the post, BUT B was the bar that made the %%%. it moved fast. It happens. i almost closed trade for +1 or 2 lol
ah i understand, thx. it really makes sense and ill watch it for the future.
trading is like dancing, don't think and just listen to the music!
  • #53,099
  • Aug 26, 2020 4:50am Aug 26, 2020 4:50am
If you just happen to load up a chart and see that we have a retrace option, go for it.

Don't forget i still trade off stats.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,100
  • Aug 26, 2020 5:23am Aug 26, 2020 5:23am
Quoting ia1979
{quote} Makes perfect sense Billy. It means you are getting in at a better price in the direction of the original break (especially if the original break is not one's preferred direction), and if it fails, there's a heck of a lot less to counter. Lem calls them wick zone trades. He would normally buy/sell as price leaves the wick of a candle. More prone to whip I suppose but it means less to make up if it goes wrong.
Lems wickzone trades go opposite of break ie. back into the candle body (open price) trigger
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