Billytt Die happy trading e/j daily breakout | Page 2884 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #57,661
  • Apr 12, 2021 3:51am Apr 12, 2021 3:51am
Quoting claudia1
I'm looking for NY to reverse this move as usual. That's the simple plan for the rest of the day hit target on live account with ntbb so can take it easy. Local bar is opening again might call in midday lol.
All our pubs closed. Lockdown again in Ontario Canada ughhhhhhh
  • #57,662
  • Apr 12, 2021 3:54am Apr 12, 2021 3:54am
Only those with beer gardens can open so you have to sit outside. Weather is ok it's bright 6c. Have to walk past bar to go to shop so .... maybe.
  • #57,663
  • Apr 12, 2021 4:25am Apr 12, 2021 4:25am
AJ 12-2am (UK time) range break. A couple of people have reached out and said they were unable to open my AJ set file I posted a few days ago. I have attached a screenshot with some brief annotations. Any questions, just ask.

Trade worked out very well today with minimal drawdown. Cheers Claudia for the intro to this .
Attached Image (click to enlarge)
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  • #57,664
  • Apr 12, 2021 4:39am Apr 12, 2021 4:39am
Quoting ia1979
AJ 12-2am (UK time) range break. A couple of people have reached out and said they were unable to open my AJ set file I posted a few days ago. I have attached a screenshot with some brief annotations. Any questions, just ask. Trade worked out very well today with minimal drawdown. Cheers Claudia for the intro to this . {image}
You're welcome. Yep it did play out well.

Have a look at EG on the 00.00-04.00 for a break out.

Oh by the way I did have V2 and V3 which were on my laptop going back to October !!
  • #57,665
  • Apr 12, 2021 4:43am Apr 12, 2021 4:43am
Quoting claudia1
{quote} Yep was a good day on both. Cable was text book stuff on NTBB - break of pivot on 1h, and ADR 100, then target 50 area etc etc. Took the FTMO free challenge for fun whilst this was going on - just to prove it's not as difficult as they think. Got a month to generate £1750 profit. (Been chatting with Sheppy about it and had an argument with some guy on the thread as you saw. He did apologise). Started 8 am today with 100k on their demo .... {image}
Nicely done on the FTMO account (you absolutely smashed it lol). I have recently passed the 100k challenge (had to generate 10k profit within 1 calendar month), without losing 5k in one day or 10k in the month. It was a lot harder than I thought, especially due to the daily drawdown limit. The most I lost was 3.5k in one day. Then I started being extra careful after that. Came down to the very last day before I managed to pass it.

Doing the verification phase now, which is 5k profit within 2 calendar months. Drawdown parameters remain the same. If I pass this, I become a funded trader for them, keeping 70% of any profits I generate.

Saw your post on the spreads, my spreads are very low but I pay commission of $3 per lot. Spread varies between 2 and 5 points normally on GU.
Attached Image
  • #57,666
  • Apr 12, 2021 4:47am Apr 12, 2021 4:47am
Quoting claudia1
{quote} You're welcome. Yep it did play out well. Have a look at EG on the 00.00-04.00 for a break out. Oh by the way I did have V2 and V3 which were on my laptop going back to October !!
Thanks I'll take a look at EG.

Yeah I thought you might have forgotten about the earlier versions of the EA.
  • #57,667
  • Apr 12, 2021 4:50am Apr 12, 2021 4:50am
Quoting ia1979
{quote} Nicely done on the FTMO account (you absolutely smashed it lol). I have recently passed the 100k challenge (had to generate 10k profit within 1 calendar month), without losing 5k in one day or 10k in the month. It was a lot harder than I thought, especially due to the daily drawdown limit. The most I lost was 3.5k in one day. Then I started being extra careful after that. Came down to the very last day before I managed to pass it. Doing the verification phase now, which is 5k profit within 2 calendar months....
Or I could just let Claudia at it for 2 days
  • #57,668
  • Apr 12, 2021 4:51am Apr 12, 2021 4:51am
Quoting ia1979
{quote} Nicely done on the FTMO account (you absolutely smashed it lol). I have recently passed the 100k challenge (had to generate 10k profit within 1 calendar month), without losing 5k in one day or 10k in the month. It was a lot harder than I thought, especially due to the daily drawdown limit. The most I lost was 3.5k in one day. Then I started being extra careful after that. Came down to the very last day before I managed to pass it. Doing the verification phase now, which is 5k profit within 2 calendar months. Drawdown parameters remain the...
Well done. It looks like the spreads on the free thingy are different from the evaluation.

Paul doesn't like them does he ?

I did it for fun might take it further. The advisor is just the thing for this.
  • #57,669
  • Apr 12, 2021 5:03am Apr 12, 2021 5:03am
Quoting claudia1
{quote} Well done. It looks like the spreads on the free thingy are different from the evaluation. Paul doesn't like them does he ? I did it for fun might take it further. The advisor is just the thing for this.
Thanks. Yeah looks the spreads are definitely different. Paul has been negative on that thread for a while. Some of his points are valid but a lot of it seems to be useless as well as baseless.

The way I see it is, I pay them 500 for one attempt. If I pass it, this fee gets refunded plus the profit potential is pretty decent. If I fail it, it is only 500, which is like one bad morning trading GU with my own money. And you are right, it really needs a mechanical approach. Have a mental stop loss for the day. Once hit, move on. Come back tomorrow. Don't hit your 5k max daily loss because that is pretty hard to recover from. There are people making the 10k profit in one hour during the challenge, which can be done with a 50 lot trade in the right direction obviously, but that won't help you when trading live.

AJ with the EA looks like a good candidate for this test. Try and generate 2-3k per night/day, with a max loss of 2-3k per day. Just thinking out loud here. It certainly seems to hit the R:R angle perfectly.
  • #57,670
  • Apr 12, 2021 5:08am Apr 12, 2021 5:08am
Quoting ia1979
{quote} Thanks. Yeah looks the spreads are definitely different. Paul has been negative on that thread for a while. Some of his points are valid but a lot of it seems to be useless as well as baseless. The way I see it is, I pay them 500 for one attempt. If I pass it, this fee gets refunded plus the profit potential is pretty decent. If I fail it, it is only 500, which is like one bad morning trading GU with my own money. And you are right, it really needs a mechanical approach. Have a mental stop loss for the day. Once hit, move on. Come back tomorrow....
Correct. Live from demo is a different game. I wouldn't have traded a live account as I did that demo this morning that's for sure.

Paul makes some good points but he knows how to make enemies and there's no reason. I saw him on the tech thread giving Jeanlouie a hard time - JL has helped lots of people for no charge from what I can see. Anyway let them get on with it.
  • #57,671
  • Apr 12, 2021 5:15am Apr 12, 2021 5:15am
Quoting ia1979
{quote} Thanks. Yeah looks the spreads are definitely different. Paul has been negative on that thread for a while. Some of his points are valid but a lot of it seems to be useless as well as baseless. The way I see it is, I pay them 500 for one attempt. If I pass it, this fee gets refunded plus the profit potential is pretty decent. If I fail it, it is only 500, which is like one bad morning trading GU with my own money. And you are right, it really needs a mechanical approach. Have a mental stop loss for the day. Once hit, move on. Come back tomorrow....
Where they could catch us out using the advisor is the 2 minute thing before/after red news releases if using a hard stop and not at pc. This is why E/G could be worth a look as it's not affected by any news.

FTMO use FF calendar and advertise the fact.
  • #57,672
  • Apr 12, 2021 5:23am Apr 12, 2021 5:23am
Quoting claudia1
{quote} Where they could catch us out using the advisor is the 2 minute thing before/after red news releases if using a hard stop and not at pc. This is why E/G could be worth a look as it's not affected by any news. FTMO use FF calendar and advertise the fact.
This is a great point. I am not affected by news just now as I am still during my evaluation phase, but I have heard of live traders getting caught out when they forgot to check for news releases etc. You cannot open or close a trade 2 minutes before or 2 minutes after a red news release. And if you have a trade open, it cannot hit TP or SL within that 4 minute window either. The only drawback I have seen with their model so far.

What's funny is, and has been highlighted by many people more experienced than myself, that if I live trader has a 0.1 lot trade open which hits TP or SL during the 4 minutes, they lose their account. But the same live trader can open up a 100 lot revenge trade say 3 minutes after the news release and they have no issue with that. Something doesn't quite add up. But hey ho, their game, their rules I suppose.
  • #57,673
  • Apr 12, 2021 5:27am Apr 12, 2021 5:27am
Quick short. Not the best setup, only a small position on.
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  • #57,674
  • Apr 12, 2021 5:28am Apr 12, 2021 5:28am
Quoting ia1979
{quote} This is a great point. I am not affected by news just now as I am still during my evaluation phase, but I have heard of live traders getting caught out when they forgot to check for news releases etc. You cannot open or close a trade 2 minutes before or 2 minutes after a red news release. And if you have a trade open, it cannot hit TP or SL within that 4 minute window either. The only drawback I have seen with their model so far. What's funny is, and has been highlighted by many people more experienced than myself, that if I live trader...
Maybe indices are the way to go then (I can't on demo). FTSE can be fun from London open.

The obvious answer is set the stops prior to news releases I guess.
  • #57,675
  • Apr 12, 2021 5:35am Apr 12, 2021 5:35am
Quoting claudia1
{quote} Maybe indices are the way to go then (I can't on demo). FTSE can be fun from London open. The obvious answer is set the stops prior to news releases I guess.
I believe you can set the stop beforehand if you like, but if it gets hit during the 4 minute window, it is game over. That's why people with open positions have been removing SL/TP before news releases or even hedging positions if they cannot get out before a red news event. It is a nuisance. Sorry Billy, did not mean to clutter your thread but hopefully someone will find this information helpful. And it is invaluable that Claudia is giving input on this, as she is someone whose opinion should be taken very seriously. Now I will zip it lol.
  • #57,676
  • Apr 12, 2021 5:36am Apr 12, 2021 5:36am
Quoting ia1979
{quote} I believe you can set the stop beforehand if you like, but if it gets hit during the 4 minute window, it is game over. That's why people with open positions have been removing SL/TP before news releases or even hedging positions if they cannot get out before a red news event. It is a nuisance. Sorry Billy, did not mean to clutter your thread but hopefully someone will find this information helpful. And it is invaluable that Claudia is giving input on this, as she is someone whose opinion should be taken very seriously. Now I will zip it...
Thanks. Billy doesn't mind. Be interesting to get Lem's thoughts on it all though.

Think we've been more constructive here than the whole FTMO thread has been.

Time to look at the horses. Redcar and Mr Gosden.
  • #57,677
  • Apr 12, 2021 5:43am Apr 12, 2021 5:43am
Quoting Wizzlebizzle
Quick short. Not the best setup, only a small position on. {image}
out for a scratch

Completely missed this guy.. was a way better setup to go long.

Can I still change my name to Captain Hindsight?
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  • #57,678
  • Edited 6:11am Apr 12, 2021 5:48am | Edited 6:11am
Quoting claudia1
{quote} Thanks. Billy doesn't mind. Be interesting to get Lem's thoughts on it all though. Think we've been more constructive here than the whole FTMO thread has been. Time to look at the horses. Redcar and Mr Gosden.
Yes I agree, it has been very useful thanks.

Looks like we are heading to at least R1 (1.3788) on Cable, if not 1.38 this afternoon.

Edit - oops I meant R2
  • #57,679
  • Apr 12, 2021 5:52am Apr 12, 2021 5:52am
Quoting ia1979
{quote} Yes I agree, it has been very useful thanks. Looks like we are heading to at least R1 (1.3788) on Cable, if not 1.38 this afternoon.
141% adr has to be some selling. 3788 I have as R2 might go before then. Just have to wait !

Speaking of Billy where is he ? Probably chasing gnomes around the new forest.
  • #57,680
  • Apr 12, 2021 6:29am Apr 12, 2021 6:29am
Quoting Wizzlebizzle
{quote} Thought u would say that about continuation trades. What do you mean by a fib map?
I see you have done some searching and yes, you're on the mark.

I will run fibs inside fibs basically to identify trigger zones for fine-tuning Z-Lines. They are also useful for Wick-Zone turning/hesitation points and I would use them originally with my Dead Zone trades.
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