Billytt Die happy trading e/j daily breakout | Page 2856 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #57,101
  • Mar 21, 2021 8:52am Mar 21, 2021 8:52am
Quoting turnip15
{quote} No apology needed. Just blame Billy
and again, yes it was i.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,102
  • Mar 21, 2021 10:00am Mar 21, 2021 10:00am
Quoting claudia1
{quote} My mistake - apologies.
Sorry, didn't realise you were talking about the Not The Billy Bar (my ignore button at work, lol)...but yeah, it was me.
  • #57,103
  • Mar 22, 2021 3:28am Mar 22, 2021 3:28am
Hi all,
Cable 08-00 break.
High broke for nada,lol.. it made 5+ but i did not trade it.
Long story,
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,104
  • Mar 22, 2021 8:21am Mar 22, 2021 8:21am
Quoting TooSlow
{quote} I see you are using #advancedalientrading tools.
Yes...I went to the moon to get some cheese and came back with lots of tools
Plan, Prepare, Execute, Repeat
  • #57,105
  • Mar 22, 2021 3:51pm Mar 22, 2021 3:51pm
Quiet in here.
I hope everyone is ok.
I made a bit of an error today trading and have been punished heavily for it....
But tomorrow is another day to get the bad guys. yaaaaaaaaaaaaaaaaaaay for tomorrow.
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,106
  • Edited 4:30pm Mar 22, 2021 4:10pm | Edited 4:30pm
Quoting billytt
Quiet in here. I hope everyone is ok. I made a bit of an error today trading and have been punished heavily for it.... But tomorrow is another day to get the bad guys. yaaaaaaaaaaaaaaaaaaay for tomorrow. Trade well all.
All good here Billy, hope u are ok too. I'm sure you will fix it tomorrow or another day.

Had a whopping +1 then had to/wanted to go outside. And been reading up and practising on Zlines (something Lem pointed out a little while ago when we were talking about scalping), very interesting material!


Edit: and what happened?
  • #57,107
  • Edited 6:58pm Mar 22, 2021 6:37pm | Edited 6:58pm
Quoting Wizzlebizzle
And been reading up and practising on Zlines (something Lem pointed out a little while ago when we were talking about scalping), very interesting material!
Let me know if you found what that stands for. I would be interested to know where the actual term "zline" or "z-line" comes from and who is responsible for that.

I searched for it some time ago but couldn't really find something meaningful for me. A google search ended in finding a bath and kitchen company and some other bizarre stuff :-)

A search on this forum ended in a few posts by lem and some other members which all lead me to think of it as a area of sideways movement on a chart where price is moving in a rather tight range for a longer period of time crossing up and down numerous times without really breaking out significant.

So actually what you cannot see coming before the event but all the traders are able to talk about after the event. Then there is also „order blocks“ where the „smart money“ is placing orders.

I don't know if they all not mean pretty much the same in the end, so people buying and some others are selling...
  • #57,108
  • Mar 22, 2021 10:43pm Mar 22, 2021 10:43pm
Quoting lddd
{quote} Let me know if you found what that stands for. I would be interested to know where the actual term "zline" or "z-line" comes from and who is responsible for that. I searched for it some time ago but couldn't really find something meaningful for me. A google search ended in finding a bath and kitchen company and some other bizarre stuff :-) A search on this forum ended in a few posts by lem and some other members which all lead me to think of it as a area of sideways movement on a chart where price is moving...
That comes from another galaxy
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #57,109
  • Mar 23, 2021 3:08am Mar 23, 2021 3:08am
Quoting lddd
{quote} Let me know if you found what that stands for. I would be interested to know where the actual term "zline" or "z-line" comes from and who is responsible for that. I searched for it some time ago but couldn't really find something meaningful for me. A google search ended in finding a bath and kitchen company and some other bizarre stuff :-) A search on this forum ended in a few posts by lem and some other members which all lead me to think of it as a area of sideways movement on a chart where price is moving in a rather tight range for a...
Lem mentioned it a little while ago in this thread. Try different search terms Zline or Zlines makes a difference or with or with out the "-". What TS just said will point u in an ever better direction.

And it means something else than you described fyi. Not being cryptic, just not sure how much I can or can't share.
  • #57,110
  • Mar 23, 2021 3:32am Mar 23, 2021 3:32am
Zline trade +9.8 to my target. Didn't trade the BB, but it would have worked nicely.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-03-23 at 08.30.28.png Size: 37 KB
  • #57,111
  • Mar 23, 2021 3:48am Mar 23, 2021 3:48am
Quoting lddd
{quote} Let me know if you found what that stands for. I would be interested to know where the actual term "zline" or "z-line" comes from and who is responsible for that. I searched for it some time ago but couldn't really find something meaningful for me. A google search ended in finding a bath and kitchen company and some other bizarre stuff :-) A search on this forum ended in a few posts by lem and some other members which all lead me to think of it as a area of sideways movement on a chart where price is moving in a rather tight range for a...

Yes people are buying and selling, that's why there is a forex market. The question is (at least to me) who is buying and selling when and where and how can you take advantage of that. You can see where this happens, it took me longer than admit to see it though and I'm only seeing parts of it so far.
Have a look at the z lines, they are worth it
  • #57,112
  • Mar 23, 2021 9:41am Mar 23, 2021 9:41am
The BillyBar today retraced -16. So a SL of -15 would got me into trouble. I not traded it, just thinking of it. So seems like using the opposite end of the trigger is still better than using some fixed number like 15. I say 15 because some others mentioned the statistics say if normally doesn´t retrace for more.

I still feels kind a wrong for me at times like this. The potential loss vs the +5 is just disproportionately large (1:4 in this case). Great if you can fix it everytime, but if you can fix it every time i then ask my self why not trading the fixing right away? In my situation that would mean just trading what i see in the moment i am available at the chart and not risking a 20 Pips every time to potentially end up making 5.

I mean it's great if you have a week of +5 every day without any trouble. Having 1 fail at a range >25 already sets you under pressure then having to fix it. I say pressure because if you trade for a living you probably have some goals you want to reach to make sure the amount of money you take out of your account at what ever interval at least doesn´t consistently gets smaller, so should be staying at the same amount at least. Meaning if you have a 50k account and take out 5k after a 22 days trading cycle, you want to gain back a return of 10% at least to keep staying at 50k.

Lately there were weeks you had 2-3 fails. So lets say a 3 fails fail of -20 every time, that would be a potential -60 in 3 days vs a +10 for 2 days. So still a -50 you would then somehow elsewhere have to gain back to stay break even for the week, so not even a win. If you can "somehow" "elsewhere" make these 50 Pips i wonder why bothering with a +5 even if the stats they your chances are high to make the +5. It doesn´t help at all if that will still let you end up net unprofitable.

Maybe also the reality is that you take profit for far more than the +5 at times and leave the trade run instead of closing it at a fixed +5.

Anyways, have a good week all.
  • #57,113
  • Mar 23, 2021 9:55am Mar 23, 2021 9:55am
[quote=lddd;13465415]The BillyBar today retraced -16. So a SL of -15 would got me into trouble. I not traded it, just thinking of it. So seems like using the opposite end of the trigger is still better than using some fixed number like 15. I say 15 because some others mentioned the statistics say if normally doesn´t retrace for more. I still feels kind a wrong for me at times like this. The potential loss vs the +5 is just disproportionately large (1:4 in this case). Great if you can fix it everytime, but if you can fix it every time i then ask my self why not trading the fixing right away? In my situation that would mean just trading what i see in the moment i am available at the chart and not risking a 20 Pips every time to potentially end up making 5. I mean it's great if you have a week of +5 every day without any trouble. Having 1 fail at a range >25 already sets you under pressure then having to fix it. I say pressure because if you trade for a living you probably have some goals you want to reach to make sure the amount of money you take out of your account at what ever interval at least doesn´t consistently gets smaller, so should be staying at the same amount at least. Meaning if you have a 50k account and take out 5k after a 22 days trading cycle, you want to gain back a return of 10% at least to keep staying at 50k. Lately there were weeks you had 2-3 fails. So lets say a 3 fails fail of -20 every time, that would be a potential -60 in 3 days vs a +10 for 2 days. So still a -50 you would then somehow elsewhere have to gain back to stay break even for the week, so not even a win. If you can "somehow" "elsewhere" make these 50 Pips i wonder why bothering with a +5 even if the stats they your chances are high to make the +5. It doesn´t help at all if that will still let you end up net unprofitable. Maybe also the reality is that you take profit for far more than the +5 at times and leave the trade run instead of closing it at a fixed +5. Anyways, have a good week all.[/quote

Not sure what you are looking at Iddd, the BB went straight to +5 without retracing today.

Also, I'm not sure if anyone ever said that trading the BB "vanilla" for +5 is profitable in itself. Look at how it WOULD be profitable or at least why you WOULD be trading it. Look at positives. Hope I am not speaking out of turn.
  • #57,114
  • Mar 23, 2021 9:55am Mar 23, 2021 9:55am
Quoting Wizzlebizzle
Zline trade +9.8 to my target. Didn't trade the BB, but it would have worked nicely. {image}
Thanks Wiz. So how do you trade it if you have found this line and does it makes a difference on what time frame you look for it? Could you mark your entry perhaps?
  • #57,115
  • Mar 23, 2021 10:03am Mar 23, 2021 10:03am
Quoting Wizzlebizzle
Not sure what you are looking at Iddd, the BB went straight to +5 without retracing today.
Attached Image (click to enlarge)
Click to Enlarge Name: Y7pww8l.jpg Size: 124 KB


Quoting Wizzlebizzle
Also, I'm not sure if anyone ever said that trading the BB "vanilla" for +5 is profitable in itself.
I think Billy himself told me and also mentioned several times in this topic do have made a living out of +5 by trading exclusively this "method". Maybe i got it wrong.
  • #57,116
  • Mar 23, 2021 10:11am Mar 23, 2021 10:11am
Quoting lddd
{quote} Thanks Wiz. So how do you trade it if you have found this line and does it makes a difference on what time frame you look for it? Could you mark your entry perhaps?
I'd probably better direct you to doing a search for the zline (in combination with what TS hinted at) as it is described many times by others many times better than I could do it.

What I was using up to now to "fix" the failed trades were what I used to call volatility bars in certain key areas. However, I am coming to the conclusion momentum bars are very similar. It all ties together nicely, esp when taking zlines into account.

That would have been a wicked entry and or momentum on a lower timeframe.

I would say that, at least for me, time frame plays a role when drawing up certain key areas, but at the end of the day price is price regardless of the timeframe u are looking at. But I'll leave it up to the more experienced guys and girls to comment on this.
  • #57,117
  • Mar 23, 2021 10:15am Mar 23, 2021 10:15am
Quoting lddd
{quote} {image} {quote} I think Billy himself told me and also mentioned several times in this topic do have made a living out of +5 by trading exclusively this "method". Maybe i got it wrong.
Sure, but as far as I understand it not by simply trading it "vanilla". With vanilla I mean trade high break for +5 or get stopped out. So no fixes, counters, playing of the retrace, more than +5 on some days etc. Correct me if am wrong
  • #57,118
  • Mar 23, 2021 10:16am Mar 23, 2021 10:16am
Quoting lddd
{quote} {image} {quote}
Have a look at a lower time frame
  • #57,119
  • Mar 23, 2021 11:04am Mar 23, 2021 11:04am
Quoting Wizzlebizzle
With vanilla I mean trade high break for +5 or get stopped out. So no fixes, counters, playing of the retrace, more than +5 on some days etc. Correct me if am wrong
Yes. That is what i mean. So you do what ever it takes to come out at +5 by the end of the day and be happy with it. I get that.

The question for me stays how to build a more systematical routine to actually get there by only having this one trigger or even having a second, third trigger but then having a clear plan how to use these too.

Regarding to the retrace entries and compounding by doing multiple entries/exit, all this is very "vaque". But if exactly that is what is needed to come out profitable i see no big difference to just trading what you see and feel in the moment (so basically guessing) and not following any kind of routine or clear defined entry/exit rules at all.

Because last is what i have/had to do so far to stay profitable otherwise my account by only trading for what you say +5 or get stopped out would be wiped out long ago already.

So question stays, how thats helps.
  • #57,120
  • Mar 23, 2021 11:17am Mar 23, 2021 11:17am
Quoting lddd
{quote} Yes. That is what i mean. So you do what ever it takes to come out at +5 by the end of the day and be happy with it. I get that. The question for me stays how to build a more systematical routine to actually get there by only having this one trigger or even having a second, third trigger but then having a clear plan how to use these too. Regarding to the retrace entries and compounding by doing multiple entries/exit, all this is very "vaque". But if exactly that is what is needed to come out profitable i see no big difference to just trading...
It is not necessarily +5 for every single day.. some days are more and some days are less.

If you do not see the benefit of it, then perhaps let it go and trade something else in a way you do see fit? It has to make sense to you.

The benefit I see from it is that 3/4 days you have your +5 and get on with your day. And I would not be surprised that with some decent stats (and understanding of them) you can improve on the 3/4. Have a look at the doc Birdland shared with you a while ago. Everything you need to know is in there really.

And the remember to have a look at the Zlines.

edit: just making humble suggestions, these are just my thoughts/opinions : )
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