Billytt Die happy trading e/j daily breakout | Page 2877 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #57,521
  • Apr 7, 2021 3:36am Apr 7, 2021 3:36am
This morning on Dax consists of taking 5 pip nibbles -early burst up to 8:20 am and then 5 pip snatch squad seems the order of the day. Just watching one minute chart price bunching up. Hard work -for me that is!

EDIT: Added Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: DaxAM0937.png Size: 371 KB
every Saint has a past. Every Sinner has a Future
  • #57,522
  • Apr 7, 2021 3:38am Apr 7, 2021 3:38am
Quoting turnip15
This morning on Dax consists of taking 5 pip nibbles -early burst up to 8:20 am and then 5 pip snatch squad seems the order of the day. Just watching one minute chart price bunching up. Hard work -for me that is!
Do we blame the puppy or Billy ?

Watch cable go up then let NY reverse it. Plan for the rest of the day here.
  • #57,523
  • Apr 7, 2021 3:38am Apr 7, 2021 3:38am
Quoting lemercenaire
{quote} Get on Aussie Gold Diggers, they just stroll around and find the stuff lying around everywhere. Easy.
Good thinking Number One.
There's gold in Tassie, but they have to dig for it here.
What I should do is grab a couple of those pesky Echidna's and train them to sniff and dig for gold rather than ants......that will have to be a "work in progress" though.

By the way....I wasn't meaning I would throw EVERYONE out of the Swiss....

I couldn't throw out the Cheese Makers.......Blessed are the Cheese Makers.
Nor the Beer Makers.........
But the Fodue makers....well....they can go.....such a very silly concept.
  • #57,524
  • Apr 7, 2021 3:45am Apr 7, 2021 3:45am
Quoting claudia1
{quote} Do we blame the puppy or Billy ? Watch cable go up then let NY reverse it. Plan for the rest of the day here.
Your FTSE 7:45 to 8:15am broke North for a profitable Long Claudia ?
every Saint has a past. Every Sinner has a Future
  • #57,525
  • Apr 7, 2021 3:46am Apr 7, 2021 3:46am
Quoting MichaelG
{quote} Good thinking Number One. There's gold in Tassie, but they have to dig for it here. What I should do is grab a couple of those pesky Echidna's and train them to sniff and dig for gold rather than ants......that will have to be a "work in progress" though. By the way....I wasn't meaning I would throw EVERYONE out of the Swiss.... I couldn't throw out the Cheese Makers.......Blessed are the Cheese Makers. Nor the Beer Makers......... But the Fodue makers....well....they can go.....such a very silly concept.
And the hairdressers ( Hitch Hikers Guide to the galaxy) ?
every Saint has a past. Every Sinner has a Future
  • #57,526
  • Apr 7, 2021 3:47am Apr 7, 2021 3:47am
Quoting turnip15
{quote} Your FTSE 7:45 to 8:15am broke North for a profitable Long Claudia ?
Yep that worked well. Have added it to the advisor but 07.45 to 08.00.

Another one worth a look is the 12.45 bar on cable going into NY open.

Basically NTBBNY.
  • #57,527
  • Apr 7, 2021 4:29am Apr 7, 2021 4:29am
Quoting claudia1
{quote} Oh well their loss - was worth asking the question. There is a way around it by opening a Swiss company but costs and paperwork would make it a silly idea. Advisor didn't take a trade on AJ as range was too high. Got it set at max 15.
Hi Claudia.
I had a bad day on the AJ.

I started with a short bias....so I didn't take the initial high break. Would have got my +4 (and more) easily.....but I didn't.

So because of the high break.....I changed my bias to long.......and after price re-entered the range, I put a long on.....AND of course, it triggered.....and then (of course) it went south.....and didn't stop.
Because I can normally rely on AJ(or so I thought) I had a largish lot size, so wasn't then in the position (margin wise) to hedge it if it broke the low.

So I placed a Stop at a bloody good level(ha. ha), instead of what I SHOULDa COULDa done and place it at the low of the range.

That would have left me to THEN trade the LOW break.....and at least get a bit back....But I didn't.

NOTE TO SELF. Trade the bloody range/line you dickhead and don't try to preempt the bias, you plonker.

Ahhh.....I (think) I feel better now...
  • #57,528
  • Apr 7, 2021 4:31am Apr 7, 2021 4:31am
Quoting MichaelG
{quote} Hi Claudia. I had a bad day on the AJ. I started with a short bias....so I didn't take the initial high break. Would have got my +4 (and more) easily.....but I didn't. So because of the high break.....I changed my bias to long.......and after price re-entered the range, I put a long on.....AND of course, it triggered.....and then (of course) it went south.....and didn't stop. Because I can normally rely on AJ(or so I thought) I had a largish lot size, so wasn't then in the position (margin wise) to hedge it if it broke the low. So I placed...
You're not having a good week ! Know who to blame.
  • #57,529
  • Apr 7, 2021 5:04am Apr 7, 2021 5:04am
Quoting MichaelG
{quote} Hi Claudia. I had a bad day on the AJ. I started with a short bias....so I didn't take the initial high break. Would have got my +4 (and more) easily.....but I didn't. So because of the high break.....I changed my bias to long.......and after price re-entered the range, I put a long on.....AND of course, it triggered.....and then (of course) it went south.....and didn't stop. Because I can normally rely on AJ(or so I thought) I had a largish lot size, so wasn't then in the position (margin wise) to hedge it if it broke the low. So I placed...
This margin thing is an issue. I’m sure there will be Oz brokers that have moved offices abroad to accommodate clients with margin requirements.
  • #57,530
  • Apr 7, 2021 5:17am Apr 7, 2021 5:17am
Quoting ia1979
{quote} This margin thing is an issue. I’m sure there will be Oz brokers that have moved offices abroad to accommodate clients with margin requirements.
I guess it depends how much you need/want ASIC regulations, as IC Markets does give you the option to move to their Seychelles legal entity and keep leverage up to 500:1. Not sure if they offer that to Ozzies, but they do to everyone else (except the US). But obviously it comes with more risk compared to their ASIC regulated legal entities - so how much do you trust IC Markets? (and i use the word "trust" very loosely when talking about a broker!)
  • #57,531
  • Apr 7, 2021 5:21am Apr 7, 2021 5:21am
Quoting claudia1
{quote} You're not having a good week ! Know who to blame.
Altogether now :
Attached Image
every Saint has a past. Every Sinner has a Future
  • #57,532
  • Apr 7, 2021 5:29am Apr 7, 2021 5:29am
Quoting MichaelG
I had a bad day on the AJ. I started with a short bias....so I didn't take the initial high break. Would have got my +4 (and more) easily.....but I didn't. So because of the high break.....I changed my bias to long.......
Hey Michael again. I am just a newbie trader and speaking for myself but If you are scalping for not even a handful of pips, establishing any kind of directional bias to me looks overrated and more than often lead me to miss out on potential winning trades instead of helping me to avoid the losses.

I think what really is important here and what it all comes down to is having a good risk management and that what you do ONCE you are in the trade is far more of importance than rather you take or take not the entry.
  • #57,533
  • Apr 7, 2021 6:29am Apr 7, 2021 6:29am
Quoting billytt
{quote} i trade the biily bar,,,,, a/u,,,,,,,e/j all exactly the same. I was going to explain but it would be like pissing into the wind. BUT,,,,,we have a break and we do not know how far it will go,,,, BUT it will make 5 more often than not. I am brilliant at trading my break and fixing a fail. AND yes, i am modest.
Hello billytt,

"...I was going to explain but it would be like pissing into the wind." - sorry if it seems like that to you - but it isn't for us - yes maybe for claudia & lem during the last years :-)

Please keep going to explain :-)
For the most, it needs time to trust the lines and learn to fix a fail - there is a lot of fear involved

Mucky
  • #57,534
  • Edited 6:48am Apr 7, 2021 6:30am | Edited 6:48am
Quoting Jp1
{quote} I guess it depends how much you need/want ASIC regulations, as IC Markets does give you the option to move to their Seychelles legal entity and keep leverage up to 500:1. Not sure if they offer that to Ozzies, but they do to everyone else (except the US). But obviously it comes with more risk compared to their ASIC regulated legal entities - so how much do you trust IC Markets? (and i use the word "trust" very loosely when talking about a broker!)
That is what i did with two of my accounts with them. They moved me under the global entity. Trading conditions in my opinion are excellent. For trading GBP/USD i have an average spread of 0.3 Pips during EU/NY market session plus a commission on top. So net fees. are about 1 Pip you have to overcome to start making a profit.

More often than not i have 0,0 spread on GU trading the early uk session like the BillyBar. Cannot say much about other fx pairs, instruments, for EUR/USD spread is even better, Dax i trade sometimes for fun at small, its fine too.

Regarding leverage, you get plenty. I am also not sure about AU residents but why they should be treated differently than clients from the EU.

This is from their blog regarding leverage

  1. 1:500 – up to $100,000
  2. 1:400 – up to $500,000
  3. 1:300 – up to $1,000,000
  4. 1:200 – up to $5,000,000
  5. 1:100 – up to $10,000,000

Margin call level is 100%, margin stop out level is 50%.

Worth mentioning is that you donīt get a negative balance protection under the AU or Global entity, trading their raw spread account. They do however offer this for EU clients trading under their EU Entity. I am not sure how they can offer such thing like negative balance protection (even not for EU clients). IF trading under real ECN accounts in terms of trading directly against other market players not taking the other side of your trade.

Regarding regulation, my opinion. They are a big reputated/regulated broker and have a name to lose which probably would cost them more than playing dirty games against their retail clients having a 5-6 let it be 7 figures account, if they make a hell lot of money out of commissions anyways.

Regulators... The ones who are always late to the party if something is going badly wrong? Look at what the German BaFin did in case of WireCard. Man i think these "regulators" are way paid to well.

Clients money even under the global branch are helt in top rated Australian banks (at least thats what they told me as they moved me) but i think as a EU client here i wouldnīt have any kind of asset protection if such bank goes zero. But like said i would not park a fortune their. But you really also donīt have to in most instance.

  • #57,535
  • Apr 7, 2021 7:45am Apr 7, 2021 7:45am
Quoting claudia1
Watch cable go up then let NY reverse it. Plan for the rest of the day here.
Good call Claudia

Attached Image (click to enlarge)
Click to Enlarge Name: CUwyABI.jpg Size: 59 KB
  • #57,536
  • Apr 7, 2021 7:54am Apr 7, 2021 7:54am
Quoting claudia1
{quote} Yep that worked well. Have added it to the advisor but 07.45 to 08.00. Another one worth a look is the 12.45 bar on cable going into NY open. Basically NTBBNY.
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: Cable1245.png Size: 398 KB
every Saint has a past. Every Sinner has a Future
  • #57,537
  • Apr 7, 2021 7:57am Apr 7, 2021 7:57am
Quoting Mucky
{quote} Hello billytt, "...I was going to explain but it would be like pissing into the wind." - sorry if it seems like that to you - but it isn't for us - yes maybe for claudia & lem during the last years :-) Please keep going to explain :-) For the most, it needs time to trust the lines and learn to fix a fail - there is a lot of fear involved Mucky
The pissing into the wind was not aimed at anyone but a particular target, not the guys like yourself who are genuine.

Ask away and questions will be answered.
  • #57,538
  • Apr 7, 2021 7:57am Apr 7, 2021 7:57am
Quoting turnip15
{quote} Chart {image}
That played out very well. Got out too early but that's no big thing. Next is 15.45 in to London settlement/fix at 16.00. Need to be brave for this one.
  • #57,539
  • Apr 7, 2021 8:05am Apr 7, 2021 8:05am
Quoting claudia1
{quote} That played out very well. Got out too early but that's no big thing. Next is 15.45 in to London settlement/fix at 16.00. Need to be brave for this one.
Great call regarding NY shorting Cable. I got in after price went under 1.38 and closed it at 1.377 (around S1).
  • #57,540
  • Apr 7, 2021 8:10am Apr 7, 2021 8:10am
Quoting ia1979
{quote} Great call regarding NY shorting Cable. I got in after price went under 1.38 and closed it at 1.377 (around S1).
Good trade. It's an old old thing London reverses Asia and NY reverses London. Doesn't happen every day of course but worth watching.
12 traders viewing now