Billytt Die happy trading e/j daily breakout | Page 2838 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #56,741
  • Feb 26, 2021 3:49am Feb 26, 2021 3:49am
Quoting billytt
{quote} YES. NOW THE TRICKY BIT. If my 00-00 bias is short, i will still long 08-00 if high breaks, EVEN IF IT IS INSIDE THE 00-00 RANGE.
By "00-00" do you mean the complete previous day or do you mean 00-04. So only the first 4 hours after the daily open to set this bias.
  • #56,742
  • Feb 26, 2021 3:51am Feb 26, 2021 3:51am
Quoting Wizzlebizzle
{quote} watching. Long cable atm
Out at break even
  • #56,743
  • Feb 26, 2021 3:55am Feb 26, 2021 3:55am
Quoting Wizzlebizzle
{quote} watching. Long cable atm

look at e/u now ...time 09-55
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,744
  • Feb 26, 2021 3:55am Feb 26, 2021 3:55am
Quoting Wizzlebizzle
{quote} Out at break even
Argh. Like i said, don´t become greedy. Take the +5. :-)
  • #56,745
  • Feb 26, 2021 3:56am Feb 26, 2021 3:56am
Quoting lddd
{quote} By "00-00" do you mean the complete previous day or do you mean 00-04. So only the first 4 hours after the daily open to set this bias.
the first 4 hours of the day, UK Time
00-00 to 04-00 am
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,746
  • Feb 26, 2021 3:58am Feb 26, 2021 3:58am
Quoting billytt
{quote} Look at e/u right now time 09-25 watch cable too,

i got posts mixed up/.

Look at e/u now t 09-58
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,747
  • Feb 26, 2021 4:00am Feb 26, 2021 4:00am
Quoting lddd
{quote} Argh. Like i said, don´t become greedy. Take the +5. :-)
Ha it is ok. I have my plan and im sticking to it.
  • #56,748
  • Feb 26, 2021 4:13am Feb 26, 2021 4:13am
Quoting billytt
{quote} look at e/u now ...time 09-55
Looks very similar to what you showed me yesterday.

took -20 for the day. Have to go out now
  • #56,749
  • Feb 26, 2021 4:21am Feb 26, 2021 4:21am
Hypothetical question.
Cable. low broke =1.
it retraced back into 00-00 area =2.
Then dropped back down =3.
Then back up. =4-4 up,down up down.
NOW THE HYPOTHETICAL PART, what IF it moves up =6.
That line is not showing time nor place,
BUT, if it moves up we can short.
OK, IT MIGHT NOT HAPPEN, AND IT MIGHT DO AND FAIL.
Lets see.
Attached Image (click to enlarge)
Click to Enlarge Name: gu example. 26 02 21 AA.png Size: 29 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,750
  • Feb 26, 2021 4:32am Feb 26, 2021 4:32am
Quoting Wizzlebizzle
{quote} Looks very similar to what you showed me yesterday. took -20 for the day. Have to go out now
i am glad you say it looks similar,
BECAUSE IT HAPPENS A LOT.
Have a good day.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,751
  • Feb 26, 2021 4:36am Feb 26, 2021 4:36am
Quoting Wizzlebizzle
{quote} Looks very similar to what you showed me yesterday. took -20 for the day. Have to go out now
Lol of course it just hit my short target with me not behind the screen
  • #56,752
  • Feb 26, 2021 4:39am Feb 26, 2021 4:39am
Quoting billytt
Hypothetical question. Cable. low broke =1. it retraced back into 00-00 area =2. Then dropped back down =3. Then back up. =4-4 up,down up down. NOW THE HYPOTHETICAL PART, what IF it moves up =6. That line is not showing time nor place, BUT, if it moves up we can short. OK, IT MIGHT NOT HAPPEN, AND IT MIGHT DO AND FAIL. Lets see. {image}
In regards to chasing the daily range on the short trades one could have taken on EU. The "magic 50" for EU has already been made if I'm not mistaken. How would you go about profit targets?
  • #56,753
  • Feb 26, 2021 5:49am Feb 26, 2021 5:49am
Quoting Wizzlebizzle
{quote} In regards to chasing the daily range on the short trades one could have taken on EU. The "magic 50" for EU has already been made if I'm not mistaken. How would you go about profit targets?
i showed e/u as an example.
Don't forget, these retrace trades were originally involved and still are to fix a failed trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,754
  • Feb 26, 2021 5:50am Feb 26, 2021 5:50am
Quoting Wizzlebizzle
{quote} In regards to chasing the daily range on the short trades one could have taken on EU. The "magic 50" for EU has already been made if I'm not mistaken. How would you go about profit targets?
Forget my playing around chasing the daily range and scalping.
My primary role is to make that 5% and then finish, then wait until the next day.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,755
  • Feb 26, 2021 6:04am Feb 26, 2021 6:04am
Quoting billytt
{quote} Forget my playing around chasing the daily range and scalping. My primary role is to make that 5% and then finish, then wait until the next day.
Billy I thought of doubling up on the next day‘s BillyBar setup as a fix, what do you think. It looks like it rarely fails two days in a row, yes I know it does and even more than twice. But might be less stress full than trying to somehow come out of a hedge for me for „just“ ending up with that +5 by the end of week. I originally thought end of day lol but I think for my current experience I would be already happy with ending up +5 on a Friday close counting in some failure.
  • #56,756
  • Feb 26, 2021 6:17am Feb 26, 2021 6:17am
Quoting lddd
{quote} Billy I thought of doubling up on the next day‘s BillyBar setup as a fix, what do you think. It looks like it rarely fails two days in a row, yes I know it does and even more than twice. But might be less stress full than trying to somehow come out of a hedge for me for „just“ ending up with that +5 by the end of week. I originally thought end of day lol but I think for my current experience I would be already happy with ending up +5 on a Friday close counting in some failure.
WE HAD A DOUBLE FAIL ON 19TH & 20TH Jan
and 4th & 5th Jan , the bad thing was , they were multiple fails.
If you are doubling up you could be hurt...
I will adjust my trade size but i am not into doubling up as the norm.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,757
  • Feb 26, 2021 7:37am Feb 26, 2021 7:37am
Radio 4.
They had an expert on earlier who has written a book on why we get bored during lockdown.
They obviously do not trade. Speaking as an expert myself.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,758
  • Feb 26, 2021 8:21am Feb 26, 2021 8:21am
Quoting billytt
Hypothetical question. Cable. low broke =1. it retraced back into 00-00 area =2. Then dropped back down =3. Then back up. =4-4 up,down up down. NOW THE HYPOTHETICAL PART, what IF it moves up =6. That line is not showing time nor place, BUT, if it moves up we can short. OK, IT MIGHT NOT HAPPEN, AND IT MIGHT DO AND FAIL. Lets see. {image}

edit. Someone posted earlier.
Once you have the adr or even just a decent range, there is no need to trade a retrace.like this hypothetical idea.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,759
  • Feb 26, 2021 8:23am Feb 26, 2021 8:23am
Quoting billytt
{quote} WE HAD A DOUBLE FAIL ON 19TH & 20TH Jan and 4th & 5th Jan , the bad thing was , they were multiple fails. If you are doubling up you could be hurt... I will adjust my trade size but i am not into doubling up as the norm.


Yes my thoughts are similar. Even if the odds are good, if you get caught it will probably hurt.

I calculated with a initial positon at 1 Lots ($10/Point) and a SL of 20 Pips. After your second fail you would already have to bet 16 lots ($160/Point) to recover from the loss you would had on trade nr. 2, if trade nr 3. gets lost again for 20 Pips you would already have to bet 64 lots to make it back to break even with a +5 win.

But what if you start doing this at 0.10 lots ($1/Point). You could then probably handle a lot more fails in a row without risking your account beeing wiped out by exponential increasement in position size to fix the fails.

20 trading days in a month left at +$5 each is still $100 in profit.

So maybe instead of doing that with 1 account at $100k. You can use 10 accounts at 10k each. This would be still $1k in profits after 30 days then.

I already had a glass of now, please forgive it that won´t make sense, i am also not that maths genius.

Have a good weekend all.
  • #56,760
  • Feb 26, 2021 9:56am Feb 26, 2021 9:56am
Quoting birdland
nice market today, i think we might see the 1.4000 today.
not exactly, but enough;-)
Attached Image (click to enlarge)
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