Billytt Die happy trading e/j daily breakout | Page 2768 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #55,341
  • Jan 5, 2021 4:10am Jan 5, 2021 4:10am
GOOGLE, Breakout trading. that is a start.
a very old method.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,342
  • Jan 5, 2021 6:13am Jan 5, 2021 6:13am
Casinos and Bookies hate people who gamble with the their winnings?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,343
  • Jan 5, 2021 6:36am Jan 5, 2021 6:36am
Quoting billytt
Casinos and Bookies hate people who gamble with the their winnings?
Bookies just hate winners, full stop. Lol.
  • #55,344
  • Jan 5, 2021 7:10am Jan 5, 2021 7:10am
Quoting lemercenaire
{quote} Bookies just hate winners, full stop. Lol.
to a point.
they run a book as you know.
they hate red hot favourites going in as the pro gamblers are backing them.
Outsider winners they can have all day long as you know.

edit, my point is. if for instance you win £20 and then only use this £20 to gamble, the bookies/casino then know they wont win your money. yaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,345
  • Jan 5, 2021 7:54am Jan 5, 2021 7:54am
Quoting billytt
{quote} to a point. they run a book as you know. they hate red hot favourites going in as the pro gamblers are backing them. Outsider winners they can have all day long as you know. edit, my point is. if for instance you win £20 and then only use this £20 to gamble, the bookies/casino then know they wont win your money. yaaaaaaaaaaaaaay
Pro gamblers very rarely back red hot favourites. More likely to lay them. The bookies rely on idiot punters to win and then even give it right back as they can't control the urge. Hey, they're on a lucky streak, lol.

So much so, that most bookies will offer deals on losing bets, ie if your horse loses by whatever it is this week, then you get a free bet.

That's why betting - including spread betting - is tax free, because the govt know that the majority will never make any money.

Any consistent winner will also have their account quickly restricted and eventually closed by the high street bookies. Been there, done that, got lots of t-shirts.

Never use them any more.
  • #55,346
  • Jan 5, 2021 8:18am Jan 5, 2021 8:18am
Quoting lemercenaire
{quote} Pro gamblers very rarely back red hot favourites. More likely to lay them. The bookies rely on idiot punters to win and then even give it right back as they can't control the urge. Hey, they're on a lucky streak, lol. So much so, that most bookies will offer deals on losing bets, ie if your horse loses by whatever it is this week, then you get a free bet. That's why betting - including spread betting - is tax free, because the govt know that the majority will never make any money. Any consistent winner will also have their account...
Amazingly, ( well-not really,) people ignore the logic of this. Too many winning punters and you have no business, especially if a winning punter simply keeps upping the stake. All gambling business owners rely on a vast majority of losers. No matter how many treats, food, plush rooms are offered, the sucker(punter) will give back more than he wins including treats/inducements offered by casino's etc. People who profit from spread betting etc. are tolerated because their gains are surpassed by the losses suffered by the majority of punters.There is an argument that the only true middleman between a traders(punters) winning/losing trade is a broker such as AMP or Interactive Brokers etc. but you pay tax. There maybe more to this argument but you have to make up your own mind.
every Saint has a past. Every Sinner has a Future
  • #55,347
  • Edited 11:31am Jan 5, 2021 10:04am | Edited 11:31am
Quoting billytt
{quote} Unless i actually give you my Bank details you wont get my philosophy. i give info out most days, time after time after time. If you dont stop i will suspend you again for your own good.
You get me wrong if you think in that way. I didn’t ask for nor i am interested in any detailed account statement by you sir :-)

I also respect you can’t share your secret sauce of trading the bad trades good.

I just tried giving an example that even on a week where you might have 4 winners compared to only one lost breakout trade is of no mean if those 4x5 points will be cleared by a 1x-21 points range you had to lock with counter or taking the fix stop loss there.

I did read a lot of the posts here, also by other members about this matter but the real important parts are missing or I can’t find/see.

But I am glad if that works for you and were able to provide you with a living.

No need to suspend me, I will leave it it by that.

I also didn’t want to mock this one user, I tried to be funny but forgot to put the smiley behind... So sorry for that if my comment sounded rude.

I probably should leave all trading forums as there are obviously no real traders can provide you with real clues
  • #55,348
  • Jan 5, 2021 10:28am Jan 5, 2021 10:28am
Quoting Avery
{quote} I probably should leave all trading forums as there are obviously no real traders can provide you with real clues
the real clues you will get only through your own trading experiences. as lem said, you will have to find your own, little niche...

a teacher can show you how to play the piano, chess, drive a car, BUT you will not be possible to copy him 1:1. it will never work.

as franky already sang "and i did it myyyyy way"
trading is like dancing, don't think and just listen to the music!
  • #55,349
  • Jan 5, 2021 2:27pm Jan 5, 2021 2:27pm
Quoting birdland
{quote} the real clues you will get only through your own trading experiences. as lem said, you will have to find your own, little niche... a teacher can show you how to play the piano, chess, drive a car, BUT you will not be possible to copy him 1:1. it will never work. as franky already sang "and i did it myyyyy way"
Yes, agree.
  • #55,350
  • Edited 4:24pm Jan 5, 2021 3:14pm | Edited 4:24pm
No time during the day today but glanced at phone this morning and nicked 5 on a wee bounce up...

Attached Image

...and then another nice wee move down and up, bouncing off a pointy bit, tonight...

Attached Image (click to enlarge)
Click to Enlarge Name: GE30.sbM1_20210105_2055.png Size: 42 KB
  • #55,351
  • Jan 5, 2021 5:20pm Jan 5, 2021 5:20pm
Quoting stu
No time during the day today but glanced at phone this morning and nicked 5 on a wee bounce up... {image} ...and then another nice wee move down and up, bouncing off a pointy bit, tonight... {image}
Well done stu
  • #55,352
  • Jan 5, 2021 6:24pm Jan 5, 2021 6:24pm
Quoting billytt
GOOGLE, Breakout trading. that is a start. a very old method.
There are indeed many different approaches on trading breakouts you can freely find while crawling the internet.

I don’t know if all these informations are so beneficial if brokers stats still saying that most people blow their accounts otherwise buying if a horizontal line breaks north or selling if price crossing it south isn’t rocket
science, most should grasp.

Still you find an endless amount of variations. Some teach you to wait for a pull back first, some to wait for the second pull back, some to wait for even a hundred more
variables comes true or not.

You can end up in analysis paralysis.

This is where your methods really comes handy and you can easily take on stats as a high at a specific time won’t change and a low won’t change.

I looked at the stats for all 253 trading days back in 2020 for the BillyBar, I don’t have the excel sheet here but I think most months were about 70% and over to hit +5 Points with the first break (i took the exact high/low, no spread, no extra offset). A few months were less good but I believe still a bit better than 40%. However I did not find a month I looked at where you would have ended up net positive, including counters or stop losses without having them reduced or even fixed for let’s say break even.

So fixing it is an essential part here and without a plan for it like one user said yes
you can same as good bet on the horses or just trade what you see and feel in the
moment.

So this is a good thing for a beginner to start at, still only half of the puzzle to really end up with money in the bank.

I tried playing around with only taking the third opposite break of the range at the same day to fix it then hit it hard with more lots to compensate for a range failed or wait for the next day and do it then but on days where it whips and then doesn’t break up or down for 5 with many tries and your initial trade is let’s say 10 Lots you would need to increase to 100+ lots until you have it fixed or you go for more than just 5 Points with the next trade to fix it but then you don’t trade the stats anymore and who says your TP will be hit this time..

So yes, easy in theory this thing called trading a really hard challenge in real life if you want to become profitable.

But giving up is no option! If some can do it maybe I can do it one day too.

The discipline is there but I still lack on any real plans working it out to fit my goals.

A 5% a month I would be more then happy and able to make a living of. Well even a 2% would be doing it.
  • #55,353
  • Jan 5, 2021 6:52pm Jan 5, 2021 6:52pm
GBPUSD just went up fast 33 - 47. What happened?

And now back to 33?!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #55,354
  • Jan 6, 2021 2:09am Jan 6, 2021 2:09am
grabbed my lot before heading to work.....sell from resistance, then momo buy from support at market open...

Attached Image (click to enlarge)
Click to Enlarge Name: GE30.sbM1_20210106_0800.png Size: 28 KB
  • #55,355
  • Jan 6, 2021 2:34am Jan 6, 2021 2:34am
Quoting TooSlow
GBPUSD just went up fast 33 - 47. What happened? And now back to 33?!

Hi TS, all the Best for 2021. good to see you.
No idea what happened to cable, you know me. i get a line /trigger i trade it. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,356
  • Jan 6, 2021 2:35am Jan 6, 2021 2:35am
Quoting stu
grabbed my lot before heading to work.....sell from resistance, then momo buy from support at market open... {image}
you make it look too easy bud. yaaaaaaaaaaaaaaaaaaaaaaaaaay.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,357
  • Jan 6, 2021 2:41am Jan 6, 2021 2:41am
Hi Billy and All.

Nice break of the range high there. (thankfully).

And bang on the high of the 70 range.

Thanks Billy. I am converted

Attached Image (click to enlarge)
Click to Enlarge Name: Billy 8.jpg Size: 149 KB
  • #55,358
  • Jan 6, 2021 2:55am Jan 6, 2021 2:55am
Quoting billytt
{quote} you make it look too easy bud. yaaaaaaaaaaaaaaaaaaaaaaaaaay.
Tnx... I've said it before, but I wouldn't be where I am without the folks on here. What a change a year can make. I'm still very much a work in progress though
  • #55,359
  • Jan 6, 2021 2:56am Jan 6, 2021 2:56am
Quoting MichaelG
Hi Billy and All. Nice break of the range high there. (thankfully). And bang on the high of the 70 range. Thanks Billy. I am converted {image}
Hi M, best wishes for 2021.
i do use the 70 on cable as an example, and it is quite good.
e/u i use 50, a/u =40.

If you watch the 00-00 4hour bar area it all helps.

70 for cable is a ridiculously small range, therefore easier it make.
I always take a percentage of a range for the majority of trades.

A good one to remember is, if you compound. This can add a large amount to your bank. AND be used for a fail day to help out.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,360
  • Jan 6, 2021 4:03am Jan 6, 2021 4:03am
Quoting Avery
{quote} There are indeed many different approaches on trading breakouts you can freely find while crawling the internet. I don’t know if all these informations are so beneficial if brokers stats still saying that most people blow their accounts otherwise buying if a horizontal line breaks north or selling if price crossing it south isn’t rocket science, most should grasp. Still you find an endless amount of variations. Some teach you to wait for a pull back first, some to wait for the second pull back, some to wait for even a hundred more variables...
it is an illusion to believe that you can live from it after 2-3 years of trading. it simply takes much more than the explanation "buy here, sell there", including time.

when you are ready, then look again. but until then you create more discord and confusion and one does not want to read your writing slowly more, because one does not have the feeling that you go into yourself and question your small-minded behavior, but bother us with it.

besides, i can't get rid of the feeling that you just want to collect evidence that you can't live from trading and we are all liers...
trading is like dancing, don't think and just listen to the music!
34 traders viewing now