Billytt Die happy trading e/j daily breakout | Page 2734 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #54,661
  • Nov 28, 2020 3:31am Nov 28, 2020 3:31am
Quoting lemercenaire
{quote} Here ya' go... https://www.youtube.com/watch?v=2B5w8PQGeqI
cool! thx, i didnt know that.
trading is like dancing, don't think and just listen to the music!
  • #54,662
  • Nov 28, 2020 4:12am Nov 28, 2020 4:12am
Quoting bidie
{quote} -Ok thanks for explaining that- so you are trading the Asian open also, which is 7pm EST? That would be midnight your time I believe?
Hi B, I am not trading the Asian session as such.
My 00-00 4 bar happens to be in the Asian session.
00-00 to 04-00am UK time is a very good marker.
As is known, the Asian session is normally quiet and small range, this is what we want. The 00-00 4 range is best. (my opinion, my stats)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,663
  • Nov 28, 2020 4:25am Nov 28, 2020 4:25am
Quoting failinforex
This strategy looks deceptive simple to fix the fail. {image}
Hi F, your post. I realise I need to answer it.
My breakout strategy is a very very old method.
My fix method isn't.
The Nanning Bob fix looks good and it is flawed, just like every other grid type trade e/fix.
I have been told I trade a sophisticated type of grid when fixing, maybe I do lol
Trade Well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,664
  • Nov 30, 2020 2:57am Nov 30, 2020 2:57am
Quoting billytt
{quote} Hi B, I am not trading the Asian session as such. My 00-00 4 bar happens to be in the Asian session. 00-00 to 04-00am UK time is a very good marker. As is known, the Asian session is normally quiet and small range, this is what we want. The 00-00 4 range is best. (my opinion, my stats)
- Thx for the reply Billytt- in fact I read a study of 45 million trades by dailyfx.com I think it was said that the most successful traders were most active in the less volatile hours of the market.

In fact here is the article!
https://www.dailyfx.com/forex/fundam...de-matter.html
  • #54,665
  • Nov 30, 2020 3:21am Nov 30, 2020 3:21am
Quoting bidie
{quote} - Thx for the reply Billytt- in fact I read a study of 45 million trades by dailyfx.com I think it was said that the most successful traders were most active in the less volatile hours of the market. In fact here is the article! https://www.dailyfx.com/forex/fundam...de-matter.html

Thanks for the info B.
LESS VOLATILE??????? That Is What We Want, followed by a break then DIRECTION. (Hopefully)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,666
  • Nov 30, 2020 3:24am Nov 30, 2020 3:24am
+5 with 08-00 trade, thx.
trading is like dancing, don't think and just listen to the music!
  • #54,667
  • Nov 30, 2020 3:42am Nov 30, 2020 3:42am
Quoting bidie
{quote} - Thx for the reply Billytt- in fact I read a study of 45 million trades by dailyfx.com I think it was said that the most successful traders were most active in the less volatile hours of the market. In fact here is the article! https://www.dailyfx.com/forex/fundam...de-matter.html
This info from your excellent post.
I WANT VOLATILITY......BUT,,,,,, i trade on my terms.
I Want The First Break to hit my target,and my first break is selective.
Attached Image (click to enlarge)
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,668
  • Nov 30, 2020 3:55am Nov 30, 2020 3:55am
Cable 08-00 15 minute bar break.
Low broke for +5%.

even though this is now history. The 00-00 4 hour bar High broke earlier, therefore my bias was long.
It then went on to break the low soooooooooomy bias is short and still is.
t 09-55
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,669
  • Nov 30, 2020 3:56am Nov 30, 2020 3:56am
Quoting billytt
{quote} This info from your excellent post. I WANT VOLATILITY......BUT,,,,,, i trade on my terms. I Want The First Break to hit my target,and my first break is selective. {image}
Stats can be made to say anything you want.
  • #54,670
  • Nov 30, 2020 3:58am Nov 30, 2020 3:58am
e/u which i left.
a very short 00-00 range and it was a bit naughty.
It broke High then low then high again. My bias is long and this could of been traded good.
But i left it due to being focused on Cable.
Trade Well All.
t 09-58
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,671
  • Nov 30, 2020 4:01am Nov 30, 2020 4:01am
Quoting lemercenaire
{quote} Stats can be made to say anything you want.
Of course they can and Governments love to do this.
I am certain what that Info meant.
Majority of traders have no idea and a bit of movement will kill them.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,672
  • Nov 30, 2020 4:14am Nov 30, 2020 4:14am
Quoting billytt
{quote} Of course they can and Governments love to do this. I am certain what that Info meant. Majority of traders have no idea and a bit of movement will kill them.
that was also my first thought. because i remember the time when i started forex. my accounts have been killed when a large movement hit me on the wrong side and i didnt find the buttom to stop this pain;-)
trading is like dancing, don't think and just listen to the music!
  • #54,673
  • Nov 30, 2020 4:35am Nov 30, 2020 4:35am
Quoting birdland
{quote} that was also my first thought. because i remember the time when i started forex. my accounts have been killed when a large movement hit me on the wrong side and i didnt find the buttom to stop this pain;-)

and dont forget B, stops kill a lot of traders.
You know typical scenario,, place a stop just above/below a level, high/low, resitance/support and BAM, adios amigos.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,674
  • Nov 30, 2020 5:06am Nov 30, 2020 5:06am
Quoting billytt
{quote} Of course they can and Governments love to do this. I am certain what that Info meant. Majority of traders have no idea and a bit of movement will kill them.
Exactly. It's as pointless a statement as saying that poor swimmers are more likely to drown in rough water...well, duh!
  • #54,675
  • Nov 30, 2020 5:15am Nov 30, 2020 5:15am
Quoting lemercenaire
{quote} Exactly. It's as pointless a statement as saying that poor swimmers are more likely to drown in rough water...well, duh!
i agree 101%
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,676
  • Nov 30, 2020 5:38am Nov 30, 2020 5:38am
Quoting lemercenaire
{quote} Stats can be made to say anything you want.
-Respectfully I think you are missing the point that crunching 25 million trades shows :

"If we compare this against average trader profitability, we’ll further see that there’s a fairly clear negative relationship here: traders are least profitable when markets are most active. Traders tend to see the best results during the Asian trading session. To see why volatility lines up so well with performance, we need to look at real trader....(etc.)" The article goes on to explain why this might be.

- Volatility is necessary of course - but predictable volatilty is what we are looking for I think.

I am finding the 8:15 am break seems more predictable than a lot of other times
  • #54,677
  • Nov 30, 2020 8:31am Nov 30, 2020 8:31am
Quoting bidie
{quote} -Respectfully I think you are missing the point that crunching 25 million trades shows : "If we compare this against average trader profitability, we’ll further see that there’s a fairly clear negative relationship here: traders are least profitable when markets are most active. Traders tend to see the best results during the Asian trading session. To see why volatility lines up so well with performance, we need to look at real trader....(etc.)" The article goes on to explain why this might be. - Volatility is necessary of course - but predictable...
Respectfully, you are not understanding my point.

I am not talking about the validity of the information, of course it is true, however I am talking about how using slightly different language can completely change the meaning behind those exact same stats.

The fact that rubbish traders will lose their money in volatile markets is a given. This does not mean that you can only make money in calm markets. The fact is that there are also many, many more rubbish traders than good ones. They will lose their money in calm markets as well, just not as often, as there will be less opportunities, for instance.

These kind of number mind-games is how the governing bodies build their cases for regulating everyone because we are all, of course, too stupid to understand the risks.
  • #54,678
  • Nov 30, 2020 8:51am Nov 30, 2020 8:51am
It's all pretty arbitrary when you break it down. How many trades were taken algorithmically, what was the position size and leverage used, what was the time series? What proportion of trades were breakeven? You could go on and on couldn't you?
  • #54,679
  • Nov 30, 2020 9:56am Nov 30, 2020 9:56am
Quoting lemercenaire
{quote}
...These kind of number mind-games is how the governing bodies build their cases for regulating everyone because we are all, of course, too stupid to understand the risks.
...
absolutely agree. when i was trading intraday stocks 20 years ago they limited trading to 3 trades per day if you were under $25.000...to PROTECT the poor undercapitalized traders
trading is like dancing, don't think and just listen to the music!
  • #54,680
  • Nov 30, 2020 10:08am Nov 30, 2020 10:08am
Been running off the back of a lovely fluid USTec all afternoon and just finishing off now. Here's the final two - been doing this all arvo. You can see how easy the set-ups have been, leading to here. Pretty much impossible not to make money.

USTec 1-min Running. Here at + 22 and +24 [+46]

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USTec 1-min. One closed for +28 and this one about to close out for +34 [+62]

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