Billytt Die happy trading e/j daily breakout | Page 2847 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #56,921
  • Mar 10, 2021 3:14am Mar 10, 2021 3:14am
Quoting birdland
that was fast +5 with billyBar, thx. range&setup was perfect.
Yes i agree. Still it got me thinking a bit again. A quick in and out for a fixed TP of lets say +5 isn't maybe so much less stress full in the long run. You have to consider the time and risk to invest for fixing your failed trades too.

I mean maybe not doing trades all over the place all day long like him but instead of cutting your potential win for +5 each new day without exception and calling it a day it might be smart to just move the stop once at +5 to lets say +1 and let the market decide how far it wants to travel on? I don't know.
  • #56,922
  • Mar 10, 2021 7:00am Mar 10, 2021 7:00am
Hi all.
I hope everyone is well and making points.
I am trading the usual 08-00 and the odd fix.
A couple of freaky Dax trades off the Mr T, minute line which were brilliant.

I have a story to tell from last Sun and Here is a clue.....
3 druggie beggers,
Me.
Police.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,923
  • Mar 10, 2021 7:12am Mar 10, 2021 7:12am
IF i have a Fail.
When i fix a fail ,i will ALWAYS make my 5% and then fix the loss amount,

When i say i want 25% in 5 trade days. if i have a fail this may go into another day to fix so 5 trade days is actually 6.

Compounding, i made a lot of money years ago compounding. it did involve more than 1 broker and several accounts.
This is the only serious way to make huge amounts, especially from a small bank roll.
As previously posted it was easier to compound then due to small margin.

5 points per trade day is enough to live on, you just need to have a plan and also be able to fix a fail OR have a secondary method.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,924
  • Mar 10, 2021 7:15am Mar 10, 2021 7:15am
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.
i do it most days.
5% of what?????

not many people can do what i do due to fear or/and greed.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #56,925
  • Mar 10, 2021 8:11am Mar 10, 2021 8:11am
Looking at FF calendar and the jump in several indices around 1:30pm ( UK time) one can understand how it would be painful for any shorts.
every Saint has a past. Every Sinner has a Future
  • #56,926
  • Mar 10, 2021 10:59am Mar 10, 2021 10:59am
Quoting billytt
Hi all. I hope everyone is well and making points. I am trading the usual 08-00 and the odd fix. A couple of freaky Dax trades off the Mr T, minute line which were brilliant. I have a story to tell from last Sun and Here is a clue..... 3 druggie beggers, Me. Police.
Well, they don't normally have that many teeth left to knock out..!
  • #56,927
  • Mar 11, 2021 2:36am Mar 11, 2021 2:36am
Took the BillyBar high break, failed. Counter is running at -10 but again without real plan how to come out of this hedge, so might should have taken the SL instead

Second fail for the current week. The last one was tuesday, two days ago, for a -20 range.

So a +10 vs a -30. One day to go.

Luckily i left out the trade on tuesday. So its "only" a -10 vs a +5 for me at the moment.

Hope to get it fixed by the end of the week.
  • #56,928
  • Mar 11, 2021 2:50am Mar 11, 2021 2:50am
Quoting lddd
Took the BillyBar high break, failed. Counter is running at -10 but again without real plan how to come out of this hedge, so might should have taken the SL instead Second fail for the current week. The last one was tuesday, two days ago, for a -20 range. So a +10 vs a -30. One day to go. Luckily i left out the trade on tuesday. So its "only" a -10 vs a +5 for me at the moment. Hope to get it fixed by the end of the week.
I took the trade as well but was only interested in longs this morning. Took the long trade, and didn't take the short trade when the opposite side broke because the range was quite small today. My plan was if it failed, I would hit the 12-4am range with a large lot to fix it, and the daily range is only 36 so far as well, so plenty to aim for. Keep a close eye on the 12-4am range now (or even the daily high and low range).
  • #56,929
  • Mar 11, 2021 2:55am Mar 11, 2021 2:55am
Attached Image (click to enlarge)
Click to Enlarge Name: dc6be5f14629358f1ca3bde3c5d88654.png Size: 11 KB
Don't forget ECB meeting later...
  • #56,930
  • Edited 3:33am Mar 11, 2021 3:13am | Edited 3:33am
Quoting ia1979
{quote} I took the trade as well but was only interested in longs this morning. Took the long trade, and didn't take the short trade when the opposite side broke because the range was quite small today. My plan was if it failed, I would hit the 12-4am range with a large lot to fix it, and the daily range is only 36 so far as well, so plenty to aim for. Keep a close eye on the 12-4am range now (or even the daily high and low range).
Hi, but the 12-4am range is over by now and the break north already happened? My thoughts were that making a breakout trade on this range IF having a fail on the BillyBar should be taken the next day, so with a NEW established 12-4am range which isn't there yet. So not the one that already might have triggered in one or both directions by now like it has done.

Grey box on my chart 12-4 range (02-06 for my broker). The BillyBar following up for today (10:00 on the chart), 08:00 UK time, 09:00 my time.

Time by now here is 10:15 (09:15 UK) and i stuck in that failed high break on the BillyBar.

Attached Image (click to enlarge)
Click to Enlarge Name: billybar-110321.jpg Size: 171 KB


Some other person (i do not remember). Last time said it might be an idea to then switch down to the M5 chart and somehow try to get out of the hedge by releasing the still positive side of it as soon as there are some little signs of it "might now come back" to the original breaks direction. But this looks tricky to me, more like playing than a real repeatable plan. If you have that counter running of lets say a tons of lots and only a limited amount of margin left you want to better think twice and be absolute sure when to close the positive side while letting the negative a chance to go for what ever you need then as pips to be back to break even.

Regarding to that bias thing you mentioned, i actually don't try to do this. Some time you are right, sometime you are wrong with it.

The high line of the BillyBar broke first so i took the long trade. But i would have same as good taken the short trade if that line would have broken first...

edit, and about directly shooting for the opposite break if one end failed. This can be pain too. So i might have tried adding another trade for +5 on the low break instantly after the high break failed, to get at least +5 with that one. Look what happened here. It went +3,9 then went north again.
  • #56,931
  • Mar 11, 2021 3:40am Mar 11, 2021 3:40am
Quoting lddd
{quote} Hi, but the 12-4am range is over by now and the break north already happened? My thoughts were that making a breakout trade on this range IF having a fail on the BillyBar should be taken the next day, so with a NEW established 12-4am range which isn't there yet. So not the one that already might have triggered in one or both directions by now like it has done. Grey box on my chart 12-4 range (02-06 for my broker). The BillyBar following up for today (10:00 on the chart), 08:00 UK time, 09:00 my time. Time by now here is 10:15 (09:15 UK)...
Hi Iddd

If you are counter trading but don't really know what you are doing make sure you are ok with losing a big chunk of your account. If not then don't try it.

You are better off practising getting out of a mess on a smaller account. Hopefully you can be lucky and get out of it but don't be tricked into thinking you may have the skill/experience/method when you are trading with your real cash account. This is like swimming in shark infested waters. Brokers ring that bell when you hit a margin call.
  • #56,932
  • Mar 11, 2021 3:44am Mar 11, 2021 3:44am
Quoting Fagin
{image}Don't forget ECB meeting later...
Does it has an impact for GBP/USD traders too? The calendar highlighting it as a red flag for EUR. I know there are also EU traders here, just would like to know.

Most EUR red flags on the calendar i noticed gave almost zero volatility to GBP/USD price movement. Actually most of the red flags for GBP or USD often do not. Then you have a tweet by some stupid fag and suddenly boom you are f#cked and price shoots a tons of pips against you while having placed the trade already knowing you did your best to stay at the side line checking all these great events for red scheduled news in advance
  • #56,933
  • Mar 11, 2021 4:01am Mar 11, 2021 4:01am
Quoting lddd
{quote} Hi, but the 12-4am range is over by now and the break north already happened? My thoughts were that making a breakout trade on this range IF having a fail on the BillyBar should be taken the next day, so with a NEW established 12-4am range which isn't there yet. So not the one that already might have triggered in one or both directions by now like it has done. Grey box on my chart 12-4 range (02-06 for my broker). The BillyBar following up for today (10:00 on the chart), 08:00 UK time, 09:00 my time. Time by now here is 10:15 (09:15 UK)...
Price could keep entering the range and keep breaking North, or it could enter the range and break South now. But until the South break actually happens, the bias remains long.
  • #56,934
  • Mar 11, 2021 4:02am Mar 11, 2021 4:02am
Quoting lddd
{quote} Does it has an impact for GBP/USD traders too? The calendar highlighting it as a red flag for EUR. I know there are also EU traders here, just would like to know. Most EUR red flags on the calendar i noticed gave almost zero volatility to GBP/USD price movement. Actually most of the red flags for GBP or USD often do not. Then you have a tweet by some stupid fag and suddenly boom you are f#cked and price shoots a tons of pips against you while having placed the trade already knowing you did your best to stay at the side line checking all...
Depends on what the Dollar is doing... We are all just trading dollar strength/weakness at the end of the day..
  • #56,935
  • Mar 11, 2021 4:03am Mar 11, 2021 4:03am
Does anyone know why 1.3933 (ish) is an important level on GU? Price keeps bouncing around it but it does not align with any of my lines
  • #56,936
  • Mar 11, 2021 4:08am Mar 11, 2021 4:08am
the discussion here reminds me a bit of a dementia ward;-)
trading is like dancing, don't think and just listen to the music!
  • #56,937
  • Mar 11, 2021 4:21am Mar 11, 2021 4:21am
Quoting birdland
the discussion here reminds me a bit of a dementia ward;-)
Attached Image
  • #56,938
  • Mar 11, 2021 4:21am Mar 11, 2021 4:21am
Quoting birdland
the discussion here reminds me a bit of a dementia ward;-)
Hi B, that aside, I am assuming your bias is long today as well?

Hourly bar breaks haven't been amazing today but the long bias has kept me right so far. Billy normally talks about the magic 70 range, and we are currently at only 40. So if I can get another 10 from either the high or low break, that would be great.
  • #56,939
  • Edited 9:00am Mar 11, 2021 4:26am | Edited 9:00am
Quoting ia1979
{quote} Hi B, that aside, I am assuming your bias is long today as well? Hourly bar breaks haven't been amazing today but the long bias has kept me right so far. Billy normally talks about the magic 70 range, and we are currently at only 40. So if I can get another 10 from either the high or low break, that would be great.
of course we have a long bias. but after NY open i expect a short possibility.
trading is like dancing, don't think and just listen to the music!
  • #56,940
  • Mar 11, 2021 4:29am Mar 11, 2021 4:29am
Quoting birdland
{quote} of course we have a long bias. but after NY open i expect a short possibility.
I won't short unless price gets to around 1.40 which happens to be daily R2 as well. I will start considering shorts once we have made our magic 70.
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