Billytt Die happy trading e/j daily breakout | Page 2813 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #56,241
  • Feb 9, 2021 8:58am Feb 9, 2021 8:58am
Quoting ia1979
{quote} Lol. Hope you are well too Billy. Price wants to get to 1.38. Let's see if that happens in the next hour or so. Don't like it when big moves happen in the Asian session, like today. Takes the fun out of breakout trading during the London session
we will just have to settle with a 70 range then. lol as if
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,242
  • Feb 9, 2021 9:01am Feb 9, 2021 9:01am
Quoting billytt
{quote} i have only traded Cable 08-00 break, and a slight battering of dax,lol
Slight . Probably 20 trades with a 75% success rate.
  • #56,243
  • Feb 9, 2021 9:11am Feb 9, 2021 9:11am
Quoting ia1979
{quote} Slight . Probably 20 trades with a 75% success rate.
20??? lol i am coming down from scalping. 5 trades 1 loss, that is close to 75% lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,244
  • Feb 9, 2021 10:33am Feb 9, 2021 10:33am
dax looks like it is going to fire off.
on paper it looks down but i want up.
t 16-33
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,245
  • Feb 9, 2021 3:36pm Feb 9, 2021 3:36pm
Quoting billytt
{quote} I think Lem has a name for these retrace trades. When i trade the retrace, it is more hit and miss or how i feel. i do not have stats . Example, if low breaks and we are looking for 5 after spread etc, if it makes 3 we close trade and luckily it retraces back into trigger body, we can short again . If the trade is good we will make 3 plus the retrace trade. i did post this in 45742 but i am surprised i used that as an example as the trade actually made 5 in the first move.
Thanks, understand. And regarding time? Any limit you give your self here for how long you would enter on the breaks or doing a retrace entry? I know it might be rare that price will stay in the range for much longer than 1-2 M15 candles, but lets say the day moved on for 1-2 hours would you still enter then. I took a trade this afternoon, it wasn't off the 08-15 trigger but just saw it did cross the high/low several times since this morning. I wonder if you would still enter on a fourth, fifth, sixth time breaking the line IF you haven't made the +5 within the UK open right away already.
  • #56,246
  • Feb 9, 2021 10:20pm Feb 9, 2021 10:20pm
"Hedging is simply coming up with a way to protect yourself against big loss. Think of a hedge as getting insurance on your trade. Hedging is a way to reduce the amount of loss you would incur if something unexpected happened. Simple Forex Hedging Some brokers allow you to place trades that are direct hedges. Direct hedging is when you are allowed to place a trade that buys a currency pair and then at the same time you can place a trade to sell the same pair. While the net profit is zero while you have both trades open, you can make more money without incurring additional risk if you time the market just right. The way a simple forex hedge protects you is that it allows you to trade the opposite direction of your initial trade without having to close that initial trade. It can be argued that it makes more sense to close the initial trade for a loss and place a new trade in a better spot. This is part of trader discretion. As a trader, you certainly could close your initial trade and enter the market at a better price. The advantage of using the hedge is that you can keep your trade on the market and make money with a second trade that makes a profit as the market moves against your first position. When you suspect the market is going to reverse and go back in your initial trades favor, you can set a stop on the hedging trade, or just close it."
  • #56,247
  • Feb 10, 2021 1:24am Feb 10, 2021 1:24am
Quoting billytt
{quote} we will just have to settle with a 70 range then. lol as if
we got the 70 plus a few extra lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,248
  • Feb 10, 2021 1:29am Feb 10, 2021 1:29am
Quoting bojack34
"Hedging is simply coming up with a way to protect yourself against big loss. Think of a hedge as getting insurance on your trade. Hedging is a way to reduce the amount of loss you would incur if something unexpected happened. Simple Forex Hedging Some brokers allow you to place trades that are direct hedges. Direct hedging is when you are allowed to place a trade that buys a currency pair and then at the same time you can place a trade to sell the same pair. While the net profit is zero while you have both trades open, you can make more money without...
if the +5 has not been made we can add a trade once price is back in the trigger body.
This can happen with 15 minute bar.
Trading a 00-00 area break with a bigger range, this can happen several times.

You must remember, i traded for 5 points or 10 points on a different bar.
i didnt need more points . BUT ,,,,,, sometimes i did and still do trade the re trace as these extra points can help off set a fail.

Dont forget, the more you trade the more chance to fail.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,249
  • Feb 10, 2021 2:46am Feb 10, 2021 2:46am
BillyBar, high broke +5. Thanks. I am done.
  • #56,250
  • Feb 10, 2021 2:52am Feb 10, 2021 2:52am
Attached Image

Billybar +5 locked in, aiming for a bit more
  • #56,251
  • Feb 10, 2021 2:58am Feb 10, 2021 2:58am
Quoting Wizzlebizzle
{image} Billybar +5 locked in, aiming for a bit more
Hi W, hope you are well.
cable 15 break, high broke for +5%.
i assume you were on it.yaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,252
  • Feb 10, 2021 3:07am Feb 10, 2021 3:07am
Quoting billytt
{quote} Hi W, hope you are well. cable 15 break, high broke for +5%. i assume you were on it.yaaaaaaaaaaaaaaaaaaaaaaaay
Hey Billy all good, hope u are too.

Yes sir. Still in it in fact. Either way I have at least +5 locked in
  • #56,253
  • Feb 10, 2021 3:12am Feb 10, 2021 3:12am
Quoting Wizzlebizzle
{quote} Hey Billy all good, hope u are too. Yes sir. Still in it in fact. Either way I have at least +5 locked in
You are adding more than one position or maybe partial close of the position or what is your tactic here for „looking for more“?
  • #56,254
  • Feb 10, 2021 3:44am Feb 10, 2021 3:44am
Quoting Wizzlebizzle
{quote} Hey Billy all good, hope u are too. Yes sir. Still in it in fact. Either way I have at least +5 locked in
Out for +5

Just one position Iddd
  • #56,255
  • Feb 10, 2021 3:45am Feb 10, 2021 3:45am
Quoting Wizzlebizzle
{quote} Hey Billy all good, hope u are too. Yes sir. Still in it in fact. Either way I have at least +5 locked in

i have in the past put 2 trades on the break.
1st trade take 5 and let the second trade run and see what you can get.

These 2 trades can be placed at full trade value or at 50% of a normal trade value.

edit, i am actually speaking about my big trade but it worth doing. Dont forget the daily range.
Never Forget That.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,256
  • Feb 10, 2021 4:45am Feb 10, 2021 4:45am
Quoting billytt
{quote} i have in the past put 2 trades on the break. 1st trade take 5 and let the second trade run and see what you can get. These 2 trades can be placed at full trade value or at 50% of a normal trade value. edit, i am actually speaking about my big trade but it worth doing. Dont forget the daily range. Never Forget That.
Hey Billy,

Great suggestion. I have traded like that before too, but I don't feel comfortable with it, because I can't make the maths add up as you are effectively cutting your winners short. But forget about maths, also in the real world I am getting more bang for my buck if I trail: more profit per £ risked and a smoother equity curve overall.

But maybe I am missing something? I don't fix my trades (yet?) like you do, perhaps this makes a difference?

Daily range indeed, still looking at a way to incorporate this properly though.
  • #56,257
  • Feb 10, 2021 4:56am Feb 10, 2021 4:56am
Quoting Wizzlebizzle
{quote} Hey Billy, Great suggestion. I have traded like that before too, but I don't feel comfortable with it, because I can't make the maths add up as you are effectively cutting your winners short. But forget about maths, also in the real world I am getting more bang for my buck if I trail: more profit per £ risked and a smoother equity curve overall. But maybe I am missing something? I don't fix my trades (yet?) like you do, perhaps this makes a difference? Daily range indeed, still looking at a way to incorporate this properly though.
Always trade how you feel, trade to your ability and understanding.
You prefer a trailing stop, which is great BUT i prefer to add to a winning trade.(Horses for Courses).

i posted about entering with 2 trades, close 1 at +5 and let the other run.
I was showing this as an example, i have done it but again it is an example.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,258
  • Feb 10, 2021 4:58am Feb 10, 2021 4:58am
t 10-58
i am waiting for this Dax to move back up, lol.
i did catch the drop but know i want the up.
yaaaaaaaay hopefully
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,259
  • Feb 10, 2021 5:11am Feb 10, 2021 5:11am
Quoting billytt
{quote} Always trade how you feel, trade to your ability and understanding. You prefer a trailing stop, which is great BUT i prefer to add to a winning trade.(Horses for Courses). i posted about entering with 2 trades, close 1 at +5 and let the other run. I was showing this as an example, i have done it but again it is an example.
Thanks B. Yes I agree. I find it fascinating how a simple strategy like the Billy Bar can still be traded many different ways.
  • #56,260
  • Feb 10, 2021 5:23am Feb 10, 2021 5:23am
Quoting Wizzlebizzle
{quote} Thanks B. Yes I agree. I find it fascinating how a simple strategy like the Billy Bar can still be traded many different ways.
yes indeed.
it starts with the market makers moving price and also the daily range.
As we all know, it is not always trigger, enter, profit close,
we do get the setbacks but we stay focused.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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