Billytt Die happy trading e/j daily breakout | Page 2808 | 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

  • #56,141
  • Feb 4, 2021 2:31am Feb 4, 2021 2:31am
Quoting billytt
{quote} Hi Lem, i am aware of repeatable steps that is how i trade using FD Stats. i just wasnt aware it had a name lol. i only spoke of James Simons and his super trading approach a few weeks ago. My Ex, some of the things she spoke of was light years over my head. lol. Those shady guys who tried to blackmail her were aware of it though.
Morning Billy
When are you going to write your book sounds like you need to!
  • #56,142
  • Feb 4, 2021 2:50am Feb 4, 2021 2:50am
Quoting Fagin
{quote} Morning Billy When are you going to write your book sounds like you need to!
t 08-47.
lol, i was collating info for a book many years ago.
The book was aimed at the Forex gurus who said/posted several things regarding trading and how ridiculous they all are.
Just total bs from them, but alas it didnt happen.
One reason being i was contacted by a solicitor to inform me to halt. lol.

i am not doing anything regarding trading even though i have sold my method and had a bot developed.
I just like to chill out here in FF ,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,143
  • Feb 4, 2021 2:53am Feb 4, 2021 2:53am
Cable 08-00 break, the low broke and i did trade it.
Time 08-51 and the 5 hasnt been made, but i have now closed my short with +6%.
i was short and movement being slow i closed for +3 and then it retraced so i went short agaiun for another 2.

I did scalp Dax , i say scalp. i battered it lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,144
  • Feb 4, 2021 2:54am Feb 4, 2021 2:54am
The 70 has been reached today, so I'm looking for a long.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 14.jpg Size: 168 KB

And don't forget there is some news out in about 3 hours time.....take care all.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 15.jpg Size: 58 KB
  • #56,145
  • Feb 4, 2021 2:57am Feb 4, 2021 2:57am
Quoting billytt
Cable 08-00 break, the low broke and i did trade it. Time 08-51 and the 5 hasnt been made, but i have now closed my short with +6%. i was short and movement being slow i closed for +3 and then it retraced so i went short agaiun for another 2. I did scalp Dax , i say scalp. i battered it lol.
Welldone

Here I am waiting to hit +5 xD
  • #56,146
  • Feb 4, 2021 3:00am Feb 4, 2021 3:00am
Quoting MichaelG
The 70 has been reached today, so I'm looking for a long. {image} And don't forget there is some news out in about 3 hours time.....take care all. {image}
Interesting view Michael, I was just about to ask how you guys handle the BillyBar (or any other trade) when the ADR has already been hit (this early in the day) and with the BOE news approaching. Thank you
  • #56,147
  • Feb 4, 2021 3:02am Feb 4, 2021 3:02am
Quoting billytt
Cable 08-00 break, the low broke and i did trade it. Time 08-51 and the 5 hasnt been made, but i have now closed my short with +6%. i was short and movement being slow i closed for +3 and then it retraced so i went short agaiun for another 2. I did scalp Dax , i say scalp. i battered it lol.


edit, the +5 was made.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,148
  • Feb 4, 2021 3:03am Feb 4, 2021 3:03am
Quoting Wizzlebizzle
{quote} Welldone Here I am waiting to hit +5 xD
you got it, yaaaaaaaaaaaaaaaay.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,149
  • Feb 4, 2021 3:04am Feb 4, 2021 3:04am
Quoting Wizzlebizzle
{quote} Interesting view Michael, I was just about to ask how you guys handle the BillyBar (or any other trade) when the ADR has already been hit (this early in the day) and with the BOE news approaching. Thank you


only 70 was made, i use this as an area to look for, the actual adr is higher

edit, actually todays adr is quite low at 95...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,150
  • Feb 4, 2021 3:11am Feb 4, 2021 3:11am
Quoting billytt
{quote} only 70 was made, i use this as an area to look for, the actual adr is higher edit, actually todays adr is quite low at 95...
Just on that Billy if you don't mind.....

The 70 was hit.....and at the time of posting this, it's gone past. (Good on you shorters )

After I posted that, I noticed that the 20 DAY ADR was sitting at about 100 pips.

My question is simply....do you adjust/reduce that 70 range when the ADR reduces.....or are you looking at longer-term ADR for that range?

Thank you in advance.
Cheers
Michael
  • #56,151
  • Feb 4, 2021 3:15am Feb 4, 2021 3:15am
Quoting MichaelG
The 70 has been reached today, so I'm looking for a long. {image} And don't forget there is some news out in about 3 hours time.....take care all. {image}
Feels like it maybe, it's at DS2 and the 80 level and well bought here waaay back on the 19th Jan. Who knows..?! Just been stopped out picking a bottom, it's a filthy habit and I never seem to learn..
  • #56,152
  • Feb 4, 2021 3:21am Feb 4, 2021 3:21am
Quoting lemercenaire
{quote} Ouch. I feel your pain! Well tbh my partner feels your pain - she had to have a root canal yesterday. Not a happy camper.

Thanks Mate. Please pass on by Best to your partner.
I'm what you call a "big girl's blouse" when it comes to pain.

I was very dirty on myself this morning. I just couldn't get my head together, so I decided to NOT trade my usuals, and go and feel (more) sorry for myself.

Dirty on myself....because after I returned to the screen, I found that my usual AJ would have won....my other EA would have won....and Billy's GU 4H breakout would have been a winner.

Spewing.....anyway, no good crying over spilt pips lol.
Cheers Mate
  • #56,153
  • Feb 4, 2021 3:23am Feb 4, 2021 3:23am
Quoting Fagin
{quote} Feels like it maybe, it's at DS2 and the 80 level and well bought here waaay back on the 19th Jan. Who knows..?! Just been stopped out picking a bottom, it's a filthy habit and I never seem to learn..
I hear you Fagin (burned a lot of fingers trying to pick tops and bottoms)
  • #56,154
  • Feb 4, 2021 3:27am Feb 4, 2021 3:27am
Quoting Wizzlebizzle
{quote} Interesting view Michael, I was just about to ask how you guys handle the BillyBar (or any other trade) when the ADR has already been hit (this early in the day) and with the BOE news approaching. Thank you
when the 70 is reached, most of the times i avoid taking any trade (that includes also billyBar) in the direction.
trading is like dancing, don't think and just listen to the music!
  • #56,155
  • Feb 4, 2021 3:27am Feb 4, 2021 3:27am
Quoting MichaelG
{quote} I hear you Fagin (burned a lot of fingers trying to pick tops and bottoms)
Just took another, this one might be a bigger ass scratcher..!

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd5min.png Size: 9 KB
  • #56,156
  • Feb 4, 2021 3:46am Feb 4, 2021 3:46am
Quoting MichaelG
{quote} Just on that Billy if you don't mind..... The 70 was hit.....and at the time of posting this, it's gone past. (Good on you shorters ) After I posted that, I noticed that the 20 DAY ADR was sitting at about 100 pips. My question is simply....do you adjust/reduce that 70 range when the ADR reduces.....or are you looking at longer-term ADR for that range? Thank you in advance. Cheers Michael

as a do or die for a worse case scenario, 40 is a the lowest, this happens normally around hoilidays.

I use 70 as a marker. this is more than enough.
BUT,,,, if the adr is really small i will adjust the 70
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,157
  • Feb 4, 2021 4:12am Feb 4, 2021 4:12am
@MichaelG, yes I've had the same thought when I saw that asian session down move and the current ADR.

I also didn't really know if the +5 down move was due to a little bit of luck or if it would have done it in a consistent manner, backtesting is needed here to check the break in the same direction after more than 70-80% of the ADR has already been reached.
For my part, I was down a little bit (4pips) and I am still in the trade right now, I almost took the low of the day (minus 4 pips).
Props to BillyT, he would have said, no matter where it goes, it will go either way and I will make money. It took me 3 years to understand this simple principle and stop being attached to a trade. I was ready for a 20 or 30 pips down as well.

I took a small size position as I know that it could have gone down even more, I always find it strange when market makers, banks makes it easy for us lol And yeah, they didn't make it that easy, as they made me take a smaller position and steal much less from them lol.

Anyways it has been a long time since I posted here, but for all new comers you should know that the methods with the most simple rules are the best. They are not easy to master, but think about it like this. A car can go right or left and you can either go accelerate or break, simple enough? But knowing how to drive a regular car will not make you a formula one driver overnight. also, as you progress in your trading career, you'll find out that trying to copy someone else's style will not work long term, I don't know why exactly but it seems we're unique in the way we perceive and understand things around us. Schumacher driving style is not Montoya's and is not Senna's and is not Hamilton's. And eventhough there are several successful traders in this thread, everyone of them is unique in the way he trades. I tried for two years to copy Lemercenaire's style, and it did help me get on my feet, I also asked him a lot of questions trying to reproduce what he is doing to the t, but at the end of the road I found myself everytime with a new situation that required me to take a decision, a personal one, it took a lot of time until I get confident enough to just develop (unconsciously) a trading style. I still a long way to the million euros, but will update if the day I reach that goal.

Quick tips that I find useful.
Testosterone does not help in trading, you get emotional fast and want to revenge trade.
Short attention span does not help in trading, you either want to enter earlier or lose your entry (you can place order yes, but in scapling it is better to place the order as late as possible in my opinion).
Use a simple method (simple rules). You can have one or two entry rules but the rest of conditions of why you take this trade and not the other and that we often call intuition is just experience. The more situations you'll be involved in, the more 'rules' you'll store in your subsconscious mind, which can help you filter out the trades.
And many others...

Take everything that I've wrote with a grain of salt, as everyone's perspective is different.

Props to Lemercenaire, Billytt, Tooslow, Claudia, michaelg and everyone here. I've learnt so much from you guys and I just can't thank you enough
  • #56,158
  • Feb 4, 2021 4:28am Feb 4, 2021 4:28am
Quoting samuel2133
@MichaelG, yes I've had the same thought when I saw that asian session down move and the current ADR. I also didn't really know if the +5 down move was due to a little bit of luck or if it would have done it in a consistent manner, backtesting is needed here to check the break in the same direction after more than 70-80% of the ADR has already been reached. For my part, I was down a little bit (4pips) and I am still in the trade right now, I almost took the low of the day (minus 4 pips). Props to BillyT, he would have said, no matter where it goes,...
AND Mr T, yaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,159
  • Feb 4, 2021 4:30am Feb 4, 2021 4:30am
REMEMBER. the adr is an average,
yesterday adr 64 last Tuesday
last Tuesday 135
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,160
  • Feb 4, 2021 4:59am Feb 4, 2021 4:59am
Quoting billytt
{quote} Hi Lem, i am aware of repeatable steps that is how i trade using FD Stats. i just wasnt aware it had a name lol. i only spoke of James Simons and his super trading approach a few weeks ago. My Ex, some of the things she spoke of was light years over my head. lol. Those shady guys who tried to blackmail her were aware of it though.
Here's some stats on ADR. Not relevant to a day trader but still interesting https://offbeatforex.com/forex-avera...y-range-table/
103 traders viewing now