Billytt Die happy trading e/j daily breakout | Page 2678 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #53,541
  • Sep 24, 2020 1:02am Sep 24, 2020 1:02am
JPMorgan to move $230 billion of assets to Germany ahead of Brexit - source. LONDON (Reuters)

Oh dear - who next ? Looks like Angela will get her wish and Frankfurt will take over from London.
  • #53,542
  • Sep 24, 2020 1:18am Sep 24, 2020 1:18am
Quoting claudia1
JPMorgan to move $230 billion of assets to Germany ahead of Brexit - source. LONDON (Reuters) Oh dear - who next ? Looks like Angela will get her wish and Frankfurt will take over from London.
we'll still be able to trade, trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,543
  • Sep 24, 2020 1:19am Sep 24, 2020 1:19am
Quoting billytt
Same again, i am going to place a re trade on cable, t 08-47

took a bag of pippies again off the retrace

t9-19
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,544
  • Sep 24, 2020 1:21am Sep 24, 2020 1:21am
Quoting billytt
{quote} we'll still be able to trade, trade.
Wait until Boris & Co up corporation tax rates which is inevitable. That will affect the 'brokers' we use who will seek revenge lol.
  • #53,545
  • Sep 24, 2020 1:40am Sep 24, 2020 1:40am
Trying a quick re trace trade again

t 09-40
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,546
  • Sep 24, 2020 1:40am Sep 24, 2020 1:40am
if more follow like JPMorgan could this have impact on the market behaviour of GU?
trading is like dancing, don't think and just listen to the music!
  • #53,547
  • Sep 24, 2020 1:42am Sep 24, 2020 1:42am
Quoting birdland
if more follow like JPMorgan could this have impact on the market behaviour of GU?
anything like that will not happen for a long time if that.
UK is biggest dealer, dealing with trillions every year...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,548
  • Sep 24, 2020 1:44am Sep 24, 2020 1:44am
Quoting birdland
if more follow like JPMorgan could this have impact on the market behaviour of GU?
They're not the first - if I remember Barclays moved a lot from London to Dublin last year.

How it will affect GU ? Don't know but it can't be good.
  • #53,549
  • Sep 24, 2020 1:45am Sep 24, 2020 1:45am
Quoting billytt
{quote} anything like that will not happen for a long time if that. UK is biggest dealer, dealing with trillions every year...
It's happening - JPM, Barclays. These are big players.
  • #53,550
  • Sep 24, 2020 2:22am Sep 24, 2020 2:22am
whats also interesting as a "line in the sand" is a striking closing price.

now we have an example, GU daily close from 2020.06.10 1.27458:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 54 KB
and now the H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 58 KB
trading is like dancing, don't think and just listen to the music!
  • #53,551
  • Sep 24, 2020 2:26am Sep 24, 2020 2:26am
Quoting billytt
{quote} it will probably still make 5 points , its just very close to the 00-00 high, so maybe get bounce .

cable, 08-00 15 minute break.
High did break and made +5 blah blah,
A big range hardly ever fails, but like i say, if it does it is harder to fix.

AND NO, i didnt trade it, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53,552
  • Sep 24, 2020 2:36am Sep 24, 2020 2:36am
Old favourite AJ has been good this week. Means staying up until the early hours but that's ok. Simple breakout 10 stop 15 profit. High win rate.

Need to get it automated again (said that 12 months ago).

Worth a look.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY(£)M30.png Size: 61 KB
  • #53,553
  • Sep 24, 2020 3:02am Sep 24, 2020 3:02am
Quoting claudia1
Old favourite AJ has been good this week. Means staying up until the early hours but that's ok. Simple breakout 10 stop 15 profit. High win rate. Need to get it automated again (said that 12 months ago). Worth a look. {image}
Working on getting something like this automated - although I was thinking about the Billy 12-4am range, but I am sure we can get the EA to do whatever needs done on all pairs. I would be more than happy to share here.

So far all I have is the following idea for settings:

Range start time - example 12am
Range end time - example 4am

Minimum range size - example 25 pips
Maximum range size - example 50 pips

Trading start time - example 8am
Trading end time - example 4pm

SL

TP

Trailing stop option

Stop and reverse option if opposite signal received

Lot multiplier option (for the dare devils who want to go in with a larger lot size on any subsequent trades, only if the first trade fails)

Max number of trades per pair, per 24 hours - Can be set to 1 so that only the first break is taken

Max loss in monetary terms per 24 hours (this would be applicable if trading on multiple pairs with more than 1 trade per day per pair)

Any other suggestions? Thanks
  • #53,554
  • Sep 24, 2020 3:07am Sep 24, 2020 3:07am
Quoting ia1979
{quote} Working on getting something like this automated - although I was thinking about the Billy 12-4am range, but I am sure we can get the EA to do whatever needs done on all pairs. I would be more than happy to share here. So far all I have is the following idea for settings: Range start time - example 12am Range end time - example 4am Minimum range size - example 25 pips Maximum range size - example 50 pips Trading start time - example 8am Trading end time - example 4pm SL TP Trailing stop option Stop and reverse option if opposite signal received...
This is pretty much what the ea Retina coded for me would do.

I would add in entry/exit based on % ADR and option of a buffer.
  • #53,555
  • Sep 24, 2020 3:10am Sep 24, 2020 3:10am
Quoting ia1979
{quote} Working on getting something like this automated - although I was thinking about the Billy 12-4am range, but I am sure we can get the EA to do whatever needs done on all pairs. I would be more than happy to share here. So far all I have is the following idea for settings: Range start time - example 12am Range end time - example 4am Minimum range size - example 25 pips Maximum range size - example 50 pips Trading start time - example 8am Trading end time - example 4pm SL TP Trailing stop option Stop and reverse option if opposite signal received...

An idea is sizing in on the retrace (most times it does retrace), so if it fails my average entry versus the fail is actually smaller. The downside is if it doesn't retrace I dont make as much. But if it fails, as Billy always say you loose less.
  • #53,556
  • Sep 24, 2020 3:12am Sep 24, 2020 3:12am
Quoting ia1979
{quote} Working on getting something like this automated - although I was thinking about the Billy 12-4am range, but I am sure we can get the EA to do whatever needs done on all pairs. I would be more than happy to share here. So far all I have is the following idea for settings: Range start time - example 12am Range end time - example 4am Minimum range size - example 25 pips Maximum range size - example 50 pips Trading start time - example 8am Trading end time - example 4pm SL TP Trailing stop option Stop and reverse option if opposite signal received...
This does most of what you suggest.

https://www.robots4forex.com/product...e-breakout-ea/
  • #53,557
  • Sep 24, 2020 3:22am Sep 24, 2020 3:22am
Thanks Claudia and Sky, some great suggestions. I will speak to the coder and see what can be done. And I will have a look at the EA you have shared the link to Claudia, much appreciated.
  • #53,558
  • Sep 24, 2020 3:25am Sep 24, 2020 3:25am
I was talking about line in the sand trading yesterday, based on the open price of the 9am bar. And using a 5 minute chart. Have a look at the attached from today. Both the 8am open (current UK open) and 9am open would have done fairly well. 9am open would have had a few fails today due to it being so close to the pivot, so it might be an idea to use a line in the sand not too close to problem areas such as the daily open, daily pivot. Just throwing around some ideas.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.lmaxM5.png Size: 39 KB
  • #53,559
  • Sep 24, 2020 3:29am Sep 24, 2020 3:29am
Quoting ia1979
Thanks Claudia and Sky, some great suggestions. I will speak to the coder and see what can be done. And I will have a look at the EA you have shared the link to Claudia, much appreciated.
Don't forget the 'Magic Number' so you can set it up for different strategies.
  • #53,560
  • Sep 24, 2020 3:33am Sep 24, 2020 3:33am
Quoting claudia1
{quote} Don't forget the 'Magic Number' so you can set it up for different strategies.
Got it thanks. In terms of the ADR% suggestion, do you mean something like this:

If current ADR% is greater than x percentage (50, 75, or whatever number), do not take trade

Or am I way off here?
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