Billytt Die happy trading e/j daily breakout | Page 2846 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #56,901
  • Mar 9, 2021 2:22am Mar 9, 2021 2:22am
looks like our sell side will be in play
  • #56,902
  • Mar 9, 2021 2:32am Mar 9, 2021 2:32am
Lol... Broker platform froze up, as did the web based trader. I put in a counter(ish) trade, but not sure if it has triggered now..
  • #56,903
  • Mar 9, 2021 2:34am Mar 9, 2021 2:34am
I stopped and reversed broke even
  • #56,904
  • Mar 9, 2021 2:35am Mar 9, 2021 2:35am
Quoting sheppy
I stopped and reversed broke even
shoulda kept it to 95
  • #56,905
  • Mar 9, 2021 2:36am Mar 9, 2021 2:36am
Quoting sheppy
{quote} shoulda kept it to 95
but a b/e is better than a loss
  • #56,906
  • Mar 9, 2021 2:39am Mar 9, 2021 2:39am
Quoting sheppy
I stopped and reversed broke even
well done
  • #56,907
  • Mar 9, 2021 2:44am Mar 9, 2021 2:44am
Hm I'm at -23 somehow lol
  • #56,908
  • Mar 9, 2021 3:03am Mar 9, 2021 3:03am
we have breached a daily IB, BUT already 99 pips made.
trading is like dancing, don't think and just listen to the music!
  • #56,909
  • Mar 9, 2021 6:54am Mar 9, 2021 6:54am
Hi Lem,

Was looking at this earlier. The first blue line is yesterdays high. Price broke it to come back down to it, but didn't close below it. If I understand the Z-lines correctly you could have taken a/some long trades there?

I noticed something similar of the round number above it (the green line) where a potential short could have been taken?. Not exactly a Z-line, but seeing similar behaviour.
Attached Image (click to enlarge)
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  • #56,910
  • Mar 9, 2021 8:00am Mar 9, 2021 8:00am
Quoting Wizzlebizzle
Hm I'm at -23 somehow lol
Hey Wizzle.

Ouch. Worst thing that went wrong for me is that i totally forgot to remove a pending order that i placed on the BillyBar which also was setted without any SL. One side was triggered and booked the +5. I was so happy that i left the room, my girl stressed, i left home. I went to bed, i woke up and thank god the trade moved into my favor after activated the pending order. It was something like an extra profit of 70 points or so if remeber correct.

Fortunately i didn´t have problems with platform freezing or something like that so far. I am using the MT4 platform but not running it on my local machines. I rented a dedicated server located to the same datacenter my broker is operating the servers from. Its running fine, good latency makes order execution super fast. 0-1 ms on average but i actually don´t need this. It might be an advantage for automated scalping robots or so.

Main reason i do this is to be flexible from where i can run the trading platform, i normally remote connect from a macbook pro to it but can do so just as fine from any other device like my smartphone or what ever else computer i might sit on.

Back to the -21. Well, i think i would be sitting in a similar scenario by now. But again i was not at home this morning and therefor missed the BillyBar Trade (luckily). Otherwise i would probably have entered on the low break and got locked-in for the -20.

I am currently trying to find a further method to see if this might help to fix for the fails so i will be left with a little profit by the end of the day.

Billy says the +5 is all you need depending on the size you trade it, i would agree. However you defnitely need to fix the fails then otherwise no chance to stay profitable with time including these fails can be easily 5-6-7 times larger (depending on the size of the range).

Trade safe all.
  • #56,911
  • Mar 9, 2021 8:14am Mar 9, 2021 8:14am
Quoting lddd
{quote} Hey Wizzle. Ouch. Worst thing that went wrong for me is that i totally forgot to remove a pending order that i placed on the BillyBar which also was setted without any SL. One side was triggered and booked the +5. I was so happy that i left the room, my girl stressed, i left home. I went to bed, i woke up and thank god the trade moved into my favor after activated the pending order. It was something like an extra profit of 70 points or so if remeber correct. Fortunately i didn´t have problems with platform freezing or something like that...
More of a mental ouch, im trading a small size on this until I feel confident enough to trade larger lots.

It is really my own fault, I keep having issues with this broker, but I am to lazy to swap lol.

Either way, my thinking was kind of ok I suppose, I just entered the opposite trade about 13 pips too late lol.

I'll look into that remote server. Is that what they call a VPN ?
  • #56,912
  • Mar 9, 2021 8:56am Mar 9, 2021 8:56am
Quoting Wizzlebizzle
{quote} More of a mental ouch, im trading a small size on this until I feel confident enough to trade larger lots. It is really my own fault, I keep having issues with this broker, but I am to lazy to swap lol. Either way, my thinking was kind of ok I suppose, I just entered the opposite trade about 13 pips too late lol. I'll look into that remote server. Is that what they call a VPN ?
VPN is a virtual private network which provides privacy, anonymity and security. With a VPN you connect in a non-direct way to the other network like the internet instead of connecting directly to it from your device while staying more secure and anonym.

What you mean is a VPS. A virtual private server. That is generally said a virtual computer running inside a physical machine at shared resources, most likely CPU and RAM will be shared with other customers. But nowdays you also get the VPS with guaranteed dedicated resources so you actually don´t need to rent the full/physical server often coming at mugh higher costs.

A VPS is good to have your trading platform running 24x7 independently of your local situation. You then can connect to it when ever you like from where you want and have the software running you like. A sufficient VPS to run a trading platform like MT4 on will most likely starts at $20-30/month i would say. BUT, you don´t absolutely need it. Like said, it has its advantages.
  • #56,913
  • Mar 9, 2021 1:43pm Mar 9, 2021 1:43pm
Quoting Wizzlebizzle
Hi Lem, Was looking at this earlier. The first blue line is yesterdays high. Price broke it to come back down to it, but didn't close below it. If I understand the Z-lines correctly you could have taken a/some long trades there? I noticed something similar of the round number above it (the green line) where a potential short could have been taken?. Not exactly a Z-line, but seeing similar behaviour. {image}
This is getting deep into the subtleties now. Technically that are not Z-Lines as defined (or at least not how I trade them). However, by definition of what you are actually doing, they are.

So, wth does that mean, Lem?

A standard Z-Line is where price breaks a "pointy place" to the (usually) immediate left on your chart. This is where traders less skilled than you will be placing stops or whatever and they will have been greedy and tried to jump on board the MOMO they have missed.

Being greedy makes you stupid and these folks are the ones who moan about price turning just as they got in.

That price turns, their trade goes negative and they have their stop hit. They are...Zeroed-Out.

So those lines you show, although they don't fulfil the "pointy place" criteria, do show areas where dummy's are zeroed out. Therefore there is a claim to them being the relative of the classic. The red-haired-stepchild, perhaps, lol.
  • #56,914
  • Mar 9, 2021 3:06pm Mar 9, 2021 3:06pm
Quoting billytt
{quote} i do not touch Fibs, i also compound and also with a Fail, once that happens i am then looking for the Average daily range. i make more following a Fail. if i trade 5 days in a row i expect nothing less than 25% return. It doesnt matter if i am 50% up and then it disappears ( Lose is not in my vocabulary) . if i end up with more than 25% weekly this extra can be used to offset a loss, meaning i do not have to counter. Doing this, you have to forget about trading ..it is NUMBERS NUMBERS NUMBERS stats stats stats
I just became aware of this old quote after having scrolled the topic a bit to research what the simple definition of a z-line is.

A 5% a day, 25% a week, or 100% a month ROI over the last 32 months would be now turned into a $ 42949672960000.00.

Anyone able to show me track record consistently doing a 5% a day at a reasonable drawdown over the last two and half years feel free to contact me

I would love to see my face on the Forbes rich list hehe.
  • #56,915
  • Mar 9, 2021 9:05pm Mar 9, 2021 9:05pm
Quoting lddd
{quote} I just became aware of this old quote after having scrolled the topic a bit to research what the simple definition of a z-line is. A 5% a day, 25% a week, or 100% a month ROI over the last 32 months would be now turned into a $ 42949672960000.00. Anyone able to show me track record consistently doing a 5% a day at a reasonable drawdown over the last two and half years feel free to contact me I would love to see my face on the Forbes rich list hehe.
Whilst you be joking, 25% a week may be possible for a sustained period of time. However, just because excel says after x years you’ll have y, doesn’t mean it’s possible. The immediate issue becomes sizing. Try throwing 1,000 lots at EURAUD and you’ll be surprised at how hard it is. Slippage becomes a major issue, you’d have to stack orders to ensure you got the whole size on.
  • #56,916
  • Mar 10, 2021 12:25am Mar 10, 2021 12:25am
Quoting lddd
What about this gentleman? Is he fake and/or also part of the 90% of retail traders losing group... His approach / trading philosophy seems to be a little different to quick in and out for a handful of pips https://youtu.be/T_Za2TXkByM
i don't envy him. fortunately, there are different ways to approach day trading.

i prefer billys way;-)
trading is like dancing, don't think and just listen to the music!
  • #56,917
  • Mar 10, 2021 2:27am Mar 10, 2021 2:27am
that was fast +5 with billyBar, thx. range&setup was perfect.
trading is like dancing, don't think and just listen to the music!
  • #56,918
  • Mar 10, 2021 2:58am Mar 10, 2021 2:58am
Quoting TheForexDen
{quote} Whilst you be joking, 25% a week may be possible for a sustained period of time. However, just because excel says after x years you’ll have y, doesn’t mean it’s possible. The immediate issue becomes sizing. Try throwing 1,000 lots at EURAUD and you’ll be surprised at how hard it is. Slippage becomes a major issue, you’d have to stack orders to ensure you got the whole size on.
Yes i know. Compounding a 25% a week for that long time interval looks quiet "unrealistic". That's why my post was meant ironically

Regarding sizing, i am not sure if there isn't a workaround for it. Instead of trading 1,000 lots at once you maybe could split the trade into 10 parts and trade 10 x 100?

I think in practice that would be very complicated and unlikely of a trader to do. I think if you would sit on such a large amount of capital you might more happy with a 1% p.a. as with a more conservative form of investment than trading forex. I guess that is why you rarely see large funds reporting about a 100% month.

So yes forget about these sweet looking excel compounding sheets.
  • #56,919
  • Mar 10, 2021 2:59am Mar 10, 2021 2:59am
Quoting birdland
that was fast +5 with billyBar, thx. range&setup was perfect.
It was quick yes. Thanks too here
  • #56,920
  • Mar 10, 2021 3:09am Mar 10, 2021 3:09am
Quoting birdland
that was fast +5 with billyBar, thx. range&setup was perfect.
Only minor concern was the daily open line just above, but because price had closed above the daily pivot, and everything was screaming "go long!", I went for it lol.
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