Billytt Die happy trading e/j daily breakout | Page 2791 | 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

  • #55,801
  • Edited 8:04am Jan 19, 2021 2:17am | Edited 8:04am
Quoting billytt
I wonder what will happen at 08-00? i am half thinking about trading the Not the Billy bar, that'll be a first lol. this 00-00 4 hour range will break and hopefully produce. i have 6 minutes to decide.
Took the low break of the BillyBar.

08:23 | Could have taken +2 so far. Doesn't look too well, should probably leave it. But will wait until the counter.
Attached Image (click to enlarge)
Click to Enlarge Name: gu-190120-bb.jpg Size: 150 KB


08:38 | Up it goes :/

Attached Image (click to enlarge)
Click to Enlarge Name: gu-190120-bb-2.jpg Size: 152 KB


08:53 | Hope in sight, currently -$250

Attached Image (click to enlarge)
Click to Enlarge Name: gu-190120-bb-3.jpg Size: 142 KB


09:12 | I added a second buy position of same size at the high trigger in case i get countered, then trying to get +5 with this one. I also added a second sell to the low trigger but of much smaller size trying trying to make some more points with this one in case it keeps moving south then.

Attached Image (click to enlarge)
Click to Enlarge Name: gu-190120-bb-4.jpg Size: 211 KB


09:42 | Counter is on + second buy.

09:55 | Now that the second buy is triggered seems like this bas.. is going to move south again.

10:10 | Second buy position hit +5 (+$150) Still a counter running now at -19 (-$640)

So -14 left to "fix".
  • #55,802
  • Jan 19, 2021 2:57am Jan 19, 2021 2:57am
Not the billy bar was a total waste of time, lol.
i managed to close it then counter. it ended up ok off the low break. i had a smaller trade size on it.
Now getting messed around with my main 08-00 break.
trade well all.
t 08-57
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55,803
  • Jan 19, 2021 8:52am Jan 19, 2021 8:52am
Quoting MichaelG
{quote} Hi Billy. Yeah, I'm also not concerned about the leverage so much as the reduction in margin.....now it will be down to 50% of equity. Makes it a bit harder. {image}
Isn’t the 50% margin stop out level quiet common for most brokers?
  • #55,804
  • Jan 19, 2021 9:17am Jan 19, 2021 9:17am
Quoting birdland
{quote} wow, even not 2:1? with currencies you need a long breath to make some performance, especially when you start with 100 or 1000 bugs.
Leverage does not dictate your risk %. You can risk 1% of your account with 1:1 or 500:1, leverage.

However if you want to make a meaningful profit trading let’s say 1 lot ($10/Point) at 1:1 you would need to have at least 100k in your account, what would you need to open even a position at $100/Point then...

With no leverage you might not face a margin call because you then cover $1 for $1 but I wouldn’t feel more secure to hold millions in one trading account at one broker just to be able to trade at that size. What is the asset protection by gov/regulators in case of a sudden insolvency, around 100k or so.
  • #55,805
  • Jan 19, 2021 11:01am Jan 19, 2021 11:01am
Quoting Avery
{quote} Leverage does not dictate your risk %. You can risk 1% of your account with 1:1 or 500:1, leverage. However if you want to make a meaningful profit trading let’s say 1 lot ($10/Point) at 1:1 you would need to have at least 100k in your account, what would you need to open even a position at $100/Point then... With no leverage you might not face a margin call because you then cover $1 for $1 but I wouldn’t feel more secure to hold millions in one trading account at one broker just to be able to trade at that size. What is the asset protection...
this is the problem. a friend of mine had a forexaccount in cyprus and he lost a huge amount (7 figures) overnight when there was the finacial crisis and banks went bust.

from this i learned not to have all my funds with a broker, instead securitywise i trade with a huge margin (leverage) and have the main part with my trustful bank.
trading is like dancing, don't think and just listen to the music!
  • #55,806
  • Edited 1:34pm Jan 19, 2021 12:38pm | Edited 1:34pm
Quoting birdland
{quote} this is the problem. a friend of mine had a forexaccount in cyprus and he lost a huge amount (7 figures) overnight when there was the finacial crisis and banks went bust. from this i learned not to have all my funds with a broker, instead securitywise i trade with a huge margin (leverage) and have the main part with my trustful bank.
Yes, same here. I only park as much money as necessary with a broker. Therefor having leverage is a real blessing.

See,

Trading 10 Lots GBP/USD ($100/Point) (1.000.000,00) at 1:1 (no leverage) = You need $1.362,600,00 in your account.
Trading 10 Lots GBP/USD ($100/Point) (1.000.000,00) at 1:500 = You need only $2.725,00 in your account.

With any EU/UK based broker at 1:30 for instance I would already need to have $45k sitting in my broker's account to be allowed to open a position that size. Now why should i do that if the same is possible with just not even $3k...

For sure it would be crazy to open a position that size (10 lots) with only 3k sitting in that account. This would provide no room for failure -13 Pips against you and you will receive a margin call / automated stop out at a 50% margin level.

Anyways,

I am still in a floating -14 Pips at 3 Lots counter of the BillyBar this morning. I didn´t even watch it anymore. So i hope to find a solution tomorrow otherwise i will close it again because of the negative swap increasing with each time i hold it overnight.
  • #55,807
  • Jan 19, 2021 3:51pm Jan 19, 2021 3:51pm
Quoting birdland
{quote} ... have the main part with my trustful bank.
You trust banks, Mate?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #55,808
  • Jan 19, 2021 4:17pm Jan 19, 2021 4:17pm
Quoting TooSlow
{quote} You trust banks, Mate?
Give a man a gun and he can rob a bank. give a man a bank and he can rob the world
  • #55,809
  • Jan 19, 2021 6:25pm Jan 19, 2021 6:25pm
Quoting Avery
{quote} Isn’t the 50% margin stop out level quiet common for most brokers?
I don't know about other brokers, but mine is 99%.
  • #55,810
  • Jan 19, 2021 8:38pm Jan 19, 2021 8:38pm
+5 off the break of the 4-hour range.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 14.jpg Size: 133 KB
  • #55,811
  • Jan 20, 2021 12:29am Jan 20, 2021 12:29am
Quoting TooSlow
{quote} You trust banks, Mate?
no, not really;-)

its rather the combination of nation&bank who i trust a bit more than weaker combinations;-)

but in the end we are all free wilds...
trading is like dancing, don't think and just listen to the music!
  • #55,812
  • Jan 20, 2021 1:08am Jan 20, 2021 1:08am
Like waiting for paint to dry sometimes lol.

+4 on the 2h range after NY close.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY 16.jpg Size: 128 KB
  • #55,813
  • Jan 20, 2021 1:21am Jan 20, 2021 1:21am
Quoting MichaelG
Like waiting for paint to dry sometimes lol. +4 on the 2h range after NY close. {image}
Blame me when you win and Billy when you lose ! Joking aside the AJ break looks to be working for you.
  • #55,814
  • Jan 20, 2021 1:36am Jan 20, 2021 1:36am
Lem - bit early for music but watch this later great guitar.
Inserted Video

Inserted Video
  • #55,815
  • Jan 20, 2021 1:41am Jan 20, 2021 1:41am
Quoting claudia1
{quote} Blame me when you win and Billy when you lose ! Joking aside the AJ break looks to be working for you.
Yes it does, and all thanks to you M'Lady
  • #55,816
  • Jan 20, 2021 2:43am Jan 20, 2021 2:43am
Morning everyone

Just waiting on the Billy Bar to be triggered. Billy Bar just triggered lol. Just out of curiosity, I'm wondering if any of you change tactics with this ranging price action?

W
  • #55,817
  • Jan 20, 2021 3:10am Jan 20, 2021 3:10am
Quoting Wizzlebizzle
Morning everyone Just waiting on the Billy Bar to be triggered. Billy Bar just triggered lol. Just out of curiosity, I'm wondering if any of you change tactics with this ranging price action? W
i take only trades below 20 ranges AND when i see a clear trend like today i only take trades in the direction of the trend. but thats only me.
trading is like dancing, don't think and just listen to the music!
  • #55,818
  • Jan 20, 2021 3:14am Jan 20, 2021 3:14am
Quoting birdland
{quote} i take only trades below 20 ranges AND when i see a clear trend like today i only take trades in the direction of the trend. but thats only me.
Thanks Birdland and hi We're thinking along similar lines then (pun intended) The long is going well, locked in +5 and stil have a higher target to aim for
  • #55,819
  • Jan 20, 2021 3:19am Jan 20, 2021 3:19am
Quoting Wizzlebizzle
{quote} Thanks Birdland and hi We're thinking along similar lines then (pun intended) The long is going well, locked in +5 and stil have a higher target to aim for
i would like to add i have to be more selective, because i dont hedge/counter. so its a different starting point.
trading is like dancing, don't think and just listen to the music!
  • #55,820
  • Jan 20, 2021 5:38am Jan 20, 2021 5:38am
Quoting TooSlow
{quote} You trust banks, Mate?
Some bank accounts come complete with non digital key
Attached Image
every Saint has a past. Every Sinner has a Future
131 traders viewing now