Billytt Die happy trading e/j daily breakout | Page 2804 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #56,061
  • Feb 1, 2021 2:03am Feb 1, 2021 2:03am
cable chart just copied t 10-02
H=High..... L= low 2 levels to trade if/when.
#lets see what happens.
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,062
  • Feb 1, 2021 2:06am Feb 1, 2021 2:06am
Quoting Wizzlebizzle
{quote} Same, got some of the low break though. Now in it for a second trip.
yes, cable has made apprx 60 . lots of time and points.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,063
  • Feb 1, 2021 2:15am Feb 1, 2021 2:15am
Quoting MichaelG
Nice start to the new month. +4 off the AJ 2H break. {image}
Took the same trade. Was a bit double minded as the range was quite big and I was just about to head to sleep, but no issues lol.

Also took 5 on the EU 12-4am range break short.

Then I was bored and tried some Billy scalping twice on GU on the 5 minute chart. My original scalps both failed, had to counter and add to the counters to get out with a small profit from those.
  • #56,064
  • Feb 1, 2021 2:17am Feb 1, 2021 2:17am
Quoting billytt
{quote} CORRECT, the high broke and it failed. sorry about the mistake. all my charts are on the 5 minute, that is why i made the mistake. i did say i didnt trade it. lol Happy days. trade well.
Oh you are right, i didn't even notice the high break. It broke for a fraction (0.01) Points to me.

This is why i prefer setting an buffer of half to an point instead of entering at exact high/low. I see it often does that, breaks for 0-1 Pips just to shoot back hitting the opposite end.

I came a bit late to my screen today where it already retraced back so i only focused on the low break and took it. Got the +5, all good.

trade safe all.
  • #56,065
  • Feb 1, 2021 2:37am Feb 1, 2021 2:37am
Quoting billytt
cable chart just copied t 10-02 H=High..... L= low 2 levels to trade if/when. #lets see what happens. {image}
this is what happened.
from below.
Attached Image

to, below
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,066
  • Feb 1, 2021 2:39am Feb 1, 2021 2:39am
Quoting lddd
{quote} Oh you are right, i didn't even notice the high break. It broke for a fraction (0.01) Points to me. This is why i prefer setting an buffer of half to an point instead of entering at exact high/low. I see it often does that, breaks for 0-1 Pips just to shoot back hitting the opposite end. I came a bit late to my screen today where it already retraced back so i only focused on the low break and took it. Got the +5, all good. trade safe all.
i have made 13 trades with 3 fails, all is well yaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,067
  • Feb 1, 2021 2:39am Feb 1, 2021 2:39am
Quoting billytt
{quote} this is what happened. from below. {image} to, below {image}
It just reached the daily pivot too.
  • #56,068
  • Feb 1, 2021 2:48am Feb 1, 2021 2:48am
Quoting lddd
{quote} It just reached the daily pivot too.
This is what I was aiming for, but price retraced as soon as I took a short. Had to add 3 longs to get back into profit. Took my short around 1.3715 and then took my longs, getting out at around 1.3737, in profit.
  • #56,069
  • Feb 1, 2021 2:51am Feb 1, 2021 2:51am
Quoting Wizzlebizzle
{quote} Same, got some of the low break though. Now in it for a second trip.
Got +23 of the second attempt
  • #56,070
  • Feb 1, 2021 2:54am Feb 1, 2021 2:54am
Quoting ia1979
{quote} This is what I was aiming for, but price retraced as soon as I took a short. Had to add 3 longs to get back into profit. Took my short around 1.3715 and then took my longs, getting out at around 1.3737, in profit.

you are beginning to trade like me, yaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,071
  • Feb 1, 2021 2:55am Feb 1, 2021 2:55am
Quoting Wizzlebizzle
{quote} Got +23 of the second attempt
23 ???? steady . yaaaaaaaaaaaaaaaaay nice 1
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,072
  • Feb 1, 2021 3:01am Feb 1, 2021 3:01am
Quoting billytt
{quote} you are beginning to trade like me, yaaaaaaaaaaaaaaaaay
Trust me, your way is much better than trading like me
  • #56,073
  • Feb 1, 2021 3:08am Feb 1, 2021 3:08am
t 11-07
i will add text later
Attached Image

edit, t 11-09 2 & 3 are levels to be broken,
X = this actually broke the high and retraced, this was a fail and i was trading it.
4 = an area which is building up whip/consolidate.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,074
  • Feb 1, 2021 3:20am Feb 1, 2021 3:20am
Quoting billytt
t 11-07 i will add text later {image} edit, t 11-09 2 & 3 are levels to be broken, X = this actually broke the high and retraced, this was a fail and i was trading it. 4 = an area which is building up whip/consolidate.
I like the looks of this scalping Billy, seems very intuitive

Are you able to share more how you approach profit taking/stepping(stopping) out?
  • #56,075
  • Feb 1, 2021 3:26am Feb 1, 2021 3:26am
Quoting billytt
t 11-07 i will add text later {image} edit, t 11-09 2 & 3 are levels to be broken, X = this actually broke the high and retraced, this was a fail and i was trading it. 4 = an area which is building up whip/consolidate.
This is what happened.
frokm
Attached Image
to this below
Attached Image

dont forget i had a fail at X.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,076
  • Edited 3:49am Feb 1, 2021 3:33am | Edited 3:49am
Quoting ia1979
{quote} This is what I was aiming for, but price retraced as soon as I took a short. Had to add 3 longs to get back into profit. Took my short around 1.3715 and then took my longs, getting out at around 1.3737, in profit.
I played similar after my main trade was done just to practice and get a better feeling with countering. I went short half between the pivot and the 0815 low at small lots it then moved up, I added a counter of same size to lock it in for -15. The moment it then started to move south again I added another short around the initial entry, it then reached to the pivot point where I exited from all 3 trades for break even.

With a stop loss instead it would have been the same outcome like the way I did.

I guess my mistake here was to NOT exit from the negative leg from the long (counter) the moment I entered the second short position, so this one would have been reduced in loss too (IF) reaching the target, IF not and instead price decided to move up again after booking in the positive side, well then you have a problem again.

It’s tricky. Still not sure what I should have done if the second added short position started to move up again leaving out the take profit target for a second time, countering again or better taking a second fixed loss then by the first little signs of not going my way.

I think locking in the trade feels much better for me than realizing the loss, it’s is easier to manage the mental side while you technically still keep the chance alive to exit from the trade positive, but without doing it the right way, it will hurt too.
  • #56,077
  • Feb 1, 2021 3:41am Feb 1, 2021 3:41am
Quoting Wizzlebizzle
{quote} I like the looks of this scalping Billy, seems very intuitive Are you able to share more how you approach profit taking/stepping(stopping) out?
Good question.
Profit taking, this is up to the individual .i aim for 10 points but i do this manually, when trading Dax i might catch a fast move/spike.
This can be positive but also negative if i miss it.
i use a small stop between 6 and 10 points, more often it is 8/10.

i actually do not the stats for this range/break.
If you work off the daily range, this will help big time.
But look at dax, it is hitting a few hundred points every day.

Look at it as a fun trade, or try a slow moving pair like a/u , then the movers cable
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,078
  • Feb 1, 2021 4:19am Feb 1, 2021 4:19am
Quoting lddd
{quote} I played similar after my main trade was done just to practice and get a better feeling with countering. I went short half between the pivot and the 0815 low at small lots it then moved up, I added a counter of same size to lock it in for -15. The moment it then started to move south again I added another short around the initial entry, it then reached to the pivot point where I exited from all 3 trades for break even. With a stop loss instead it would have been the same outcome like the way I did. I guess my mistake here was to NOT exit...
If a trade goes in your direction, great. But if it goes against you, getting out for break even or a small loss is a huge psychological advantage. I think you’re learning. When it comes to countering, I follow Lem’s mantra of ‘don’t think, just do’.

Indeed, when you add to one side, it could reverse again, and again. This is why I personally add to my positions gradually, every 1 or 2 pips or so (sort of like how Billy compounds). That way if it is a false move, I still have enough gas left in the tank to gain, when it eventually moves one way or another.

Take a 5 minute bar during a volatile time on a pair that moves. How long will price stay confined within that range without making a meaningful move to one side?
  • #56,079
  • Feb 1, 2021 4:27am Feb 1, 2021 4:27am
Quoting ia1979
{quote} If a trade goes in your direction, great. But if it goes against you, getting out for break even or a small loss is a huge psychological advantage. I think you’re learning. When it comes to countering, I follow Lem’s mantra of ‘don’t think, just do’. Indeed, when you add to one side, it could reverse again, and again. This is why I personally add to my positions gradually, every 1 or 2 pips or so (sort of like how Billy compounds). That way if it is a false move, I still have enough gas left in the tank to gain, when it eventually moves...
good post, i agree
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,080
  • Feb 1, 2021 5:37am Feb 1, 2021 5:37am
Have a good day guys, i have finished.
30 scalp trades which include 6 fails. yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay
t 13-37
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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