Billytt Die happy trading e/j daily breakout | Page 2860 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #57,181
  • Mar 25, 2021 4:08am Mar 25, 2021 4:08am
Quoting claudia1
{quote} Hope Mrs T isn't watching over your shoulder
Saved by the short
Attached Image (click to enlarge)
Click to Enlarge Name: DaxAM0907.png Size: 379 KB
every Saint has a past. Every Sinner has a Future
  • #57,182
  • Mar 25, 2021 4:12am Mar 25, 2021 4:12am
Quoting turnip15
{quote} Phew! No -she has gone to the shops. And I have the puppy to look after whilst trying to look at screen Edit: This week has not been an easy trading week. We get them but I would happily forego them
Well you know who to blame
  • #57,183
  • Mar 25, 2021 5:28am Mar 25, 2021 5:28am
Quoting turnip15
{quote} Phew! No -she has gone to the shops. And I have the puppy to look after whilst trying to look at screen Edit: This week has not been an easy trading week. We get them but I would happily forego them
I'm glad you are saying that too Mr.T ( about the trading week, not about the missus going to the shops )
  • #57,184
  • Mar 25, 2021 6:10am Mar 25, 2021 6:10am
0745 break trade 1 minus 1R trade 2 plus 2R
  • #57,185
  • Mar 25, 2021 10:32am Mar 25, 2021 10:32am
I tried GU daily break and setted up a pending order last night while reading these are normally good for +5.

Well not for me this time, got filled @1.36720. Low of 24/03 i had @1.3738. TP = +5, SL = -16. Got stopped out for -16.

It went +2 in my direction i think.
  • #57,186
  • Mar 25, 2021 10:50am Mar 25, 2021 10:50am
Quoting lddd
I tried GU daily break and setted up a pending order last night while reading these are normally good for +5. Well not for me this time, got filled @1.36720. Low of 24/03 i had @1.3738. TP = +5, SL = -16. Got stopped out for -16. It went +2 in my direction i think.
You’d do better focusing on the 12-4am break. Aiming for 10 (or more with a trailing stop). With an SL of 10. 1 trade a day. You could do more than 1 trade if the first one fails, AND you don’t mind potentially losing again. And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly. Also Claudia gave some excellent recommendations to improve your r:r.

The Billy bar is great for a quick hit but only if you know how to fix the fails (last week was quite poor, I think we had 3 fails?). If you can’t fix the fails, it will not work for you.
  • #57,187
  • Mar 25, 2021 11:27am Mar 25, 2021 11:27am
Quoting ia1979
{quote} You’d do better focusing on the 12-4am break. Aiming for 10 (or more with a trailing stop). With an SL of 10. 1 trade a day. You could do more than 1 trade if the first one fails, AND you don’t mind potentially losing again. And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly. Also Claudia gave some excellent recommendations to improve your r:r. The Billy bar is great for a quick hit but only if you know how to fix the fails...
how often have we told him that...
trading is like dancing, don't think and just listen to the music!
  • #57,188
  • Mar 25, 2021 11:28am Mar 25, 2021 11:28am
Quoting ia1979
{quote} You’d do better focusing on the 12-4am break. Aiming for 10 (or more with a trailing stop). With an SL of 10. 1 trade a day. You could do more than 1 trade if the first one fails, AND you don’t mind potentially losing again. And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly. Also Claudia gave some excellent recommendations to improve your r:r. The Billy bar is great for a quick hit but only if you know how to fix the fails (last week was quite...
I was reading some of the older posts here last night while i couldn´t sleep but there is so much contradiction and i am also not sure if some of the older posts are still relevant/working. Thats where i also stumbled about the daily break, reading is has a 85%+ probability to make 10 after spread at least.

To be fair, thats only one trade i took. But i don´t think this will get me anywhere i want. I do not like trading small lots and having to do so many trades to get anywhere to buy me a cheeseburger but with setting up pending orders like this and going to sleep i wouldn´t feel comfortable with doing it with more money on the line, having a risk of 3 compared to a reward of 1 not even knowing if the strike rate is still over 85% like Billy was writing about back in 2015 i think. I would probably have to take some stats my self. But i doubt that only trading these daily breaks at fixed risk/reward will make me money. Sounds a bit too easy, everyone would be a millionaire quiet fast doing only that, setting pending orders fixed TP, SL boom.

The 12-4 to be honest i haven´t watched every day for the last weeks but i think there were quiet a lot of fails too on the first break? So hitting it hard isn´t an option unless you have still enough money left in the bank to hit it then very hard on the second break and if this fails again, well good night

Another problem i have here is the fact that the 12-4 range develops right through my beauty sleep period. I wouldn´t know how to watch/trade it maybe breaking then more often than not while i am still in bed.

The NY session is not working for me too as i have to care for my father around these times normally who had very bad stroke a few years ago. My trading time is actually therefor pretty much limited to be between the UK time 07:00 - 14:00. More often than not after 14:00 i have to leave home. Also i wouldn´t feel happy with investing even more time than 8 hours. For me trading is to make money, a lot money not having to spend tons of hours everyday. Otherwise i could go back to a corporate job. This would pay more than i am doing so far with the BillyBar or anything else, while not constantly having to worry about losing my account.

I saw there has been a few quotes by Claudia and some others, i will read through them next days. I am also very exhausted from the constant lock-down situation and just a lot of other things stressing me to a max at the moment.

Cheers and thanks.
  • #57,189
  • Mar 25, 2021 12:04pm Mar 25, 2021 12:04pm
Sell filled, hopefully we'll get a run down to the DP and round number..
  • #57,190
  • Mar 25, 2021 12:38pm Mar 25, 2021 12:38pm
[quote=lddd;13469547]{quote} I was reading some of the older posts here last night while i couldn´t sleep but there is so much contradiction and i am also not sure if some of the older posts are still relevant/working. Thats where i also stumbled about the daily break, reading is has a 85%+ probability to make 10 after spread at least. To be fair, thats only one trade i took. But i don´t think this will get me anywhere i want. I do not like trading small lots and having to do so many trades to get anywhere to buy me a cheeseburger but with setting up pending orders like this and going to sleep i wouldn´t feel comfortable with doing it with more money on the line, having a risk of 3 compared to a reward of 1 not even knowing if the strike rate is still over 85% like Billy was writing about back in 2015 i think. I would probably have to take some stats my self. But i doubt that only trading these daily breaks at fixed risk/reward will make me money. Sounds a bit too easy, everyone would be a millionaire quiet fast doing only that, setting pending orders fixed TP, SL boom. The 12-4 to be honest i haven´t watched every day for the last weeks but i think there were quiet a lot of fails too on the first bre

RIGHT...... as for beauty sleep.
Monday i lost 19k... Wednesday from just after midnight i was trading until 09-30 in the morning to end the fix, i only needed approx 3/4k but i did it.
IF YOU TRADE, YOU TRADE WHAT YOU KNOW.
Forex is very contradictory, i do keep saying.
As in Breakout Traders and Retrace Traders, WHO IS RIGHT???? (Trading resistance/support)
Another Example , Price may head or drop to a 50, or a 00, What does it do then ?
In my case, i would be travelling to these areas with the market movers. IF i were trading that way.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,191
  • Mar 25, 2021 12:40pm Mar 25, 2021 12:40pm
HELP ME, Mr T.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,192
  • Mar 25, 2021 1:48pm Mar 25, 2021 1:48pm
Quoting billytt
i nearly posted yesterday regarding 07-45 break as posted by Claudia. TRY DAX with it. just check back,(dont look at today).lol i went through a short phase trading off the 07-55 5 minute bar. It isnt for the screamish, ask Lem.
The Monster will bite you on the ass more often than not via The NOT-The Billy Bar (or to be honest any area in the 06:00 to 08:00 block). All been gone over in the past. Post/page numbers may be on my Page #1 document on the bullet-points on the thread.
  • #57,193
  • Mar 25, 2021 2:03pm Mar 25, 2021 2:03pm
Quoting lemercenaire
{quote} The Monster will bite you on the ass more often than not via The NOT-The Billy Bar (or to be honest any area in the 06:00 to 08:00 block). All been gone over in the past. Post/page numbers may be on my Page #1 document on the bullet-points on the thread.
Hi Lem, i agree but i am looking at it as a BURST of movement which is guaranteed almost.
It isn't my style as i prefer a slightly slower movement,.
The main reason also is, if i have a fail it is hard to fix, yes it is the monster.


BUT, today i took ownership of dax as i absolutely battered it.
Trading off the 5 minute bar , that was almost 12 trades per hour lol. 8 hours lol, i kid yea not.

sleep time.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,194
  • Mar 25, 2021 2:04pm Mar 25, 2021 2:04pm
Quoting ia1979
{quote} You’d do better focusing on the 12-4am break. Aiming for 10 (or more with a trailing stop). With an SL of 10. 1 trade a day. You could do more than 1 trade if the first one fails, AND you don’t mind potentially losing again. And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly. Also Claudia gave some excellent recommendations to improve your r:r. The Billy bar is great for a quick hit but only if you know how to fix the fails (last week was quite...
Once again...

''And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly.''

There is a whole section devoted to this on great detail using AU 00:00 - 04:00 deliberately waiting for a fail and trading the retrace. God forbid it does involve time in front of the screens and was taken to its ultimate development by Bo.

There is an option to run it my style using Wick-Zone but Bo stuck to and ran stats for break of the other side and stuck to that. Worked like a charm.
Once again..
  • #57,195
  • Mar 25, 2021 2:07pm Mar 25, 2021 2:07pm
Quoting lemercenaire
{quote} Once again... ''And if you stumble upon the setup where one side has already failed to make 10, your chances of making 10 on the other side increase significantly.'' There is a whole section devoted to this on great detail using AU 00:00 - 04:00 deliberately waiting for a fail and trading the retrace. God forbid it does involve time in front of the screens and was taken to its ultimate development by Bo. There is an option to run it my style using Wick-Zone but Bo stuck to and ran stats for break of the other side and stuck to that. Worked...
i was doing that years ago with A/U, if we had a fail the opposite break would almost always give you x amount. ( i think 20) but i cannot remember.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,196
  • Mar 25, 2021 2:10pm Mar 25, 2021 2:10pm
i'll catch you guys later, Billy Boy is tired, so gonna sleep.
Take Care All.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,197
  • Mar 25, 2021 2:11pm Mar 25, 2021 2:11pm
Lem, i pinged you.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #57,198
  • Mar 25, 2021 2:13pm Mar 25, 2021 2:13pm
Quoting billytt
{quote} Hi Lem, i agree but i am looking at it as a BURST of movement which is guaranteed almost. It isn't my style as i prefer a slightly slower movement,. The main reason also is, if i have a fail it is hard to fix, yes it is the monster. BUT, today i took ownership of dax as i absolutely battered it. Trading off the 5 minute bar , that was almost 12 trades per hour lol. 8 hours lol, i kid yea not. sleep time.
I am of course not talking about those of us who like the ride...

I did the same yesterday at treatment - on the US100 - on my phone!!!

It was an insane thing to do, as I had never used this particular app before and I couldn't figure out how to close the trade without actually being in a trade ...

It was fun for sure but came out waaaaaayyyyy ahead, I too battered it, as you say. So much fun...

...and yes, I did figure out how to close the trades .

Sure made 5 hours pass by quick.
  • #57,199
  • Mar 25, 2021 2:14pm Mar 25, 2021 2:14pm
Quoting billytt
{quote} i was doing that years ago with A/U, if we had a fail the opposite break would almost always give you x amount. ( i think 20) but i cannot remember.
Yeah, of course it goes without saying that the whole starting point was your work here. Sorry, I should have made that clear.
  • #57,200
  • Mar 25, 2021 2:19pm Mar 25, 2021 2:19pm
Quoting billytt
{quote} i was doing that years ago with A/U, if we had a fail the opposite break would almost always give you x amount. ( i think 20) but i cannot remember.
+20 then chase the Daily Range.
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