Billytt Die happy trading e/j daily breakout

i believe my Cable 08-00 break has just made the +5 and spread. high broke, i did not touch it.

Yaaaaaaaaaaaaaaaaaaay, i phoned Broker up and they did some messing around and i am back on with ftse and nifty 50.
i will probably leave ftse alone until tomorrow and not sure yet about Nifty.

Hello Billy.

I just stumbled upon it by accident and thought it might be something that could work for me without having to deal with fixing a bad BillyBar trade in such non-structured way i otherwise did/do so far. The entry/exit criteria here seems to be primarily based on price and time as well as also providing clues about take profit and stop loss (full plan), giving a better risk to reward in the first place. So maybe that doesn't makes it necessary for me afterwards having to fix a 30 Pips failed trade by looking for a 5 Pips target after counting in all winning/losing examples achieved through the strategy by the end of a week/month.

At least it looks objective to me without any voodoo-indicators involved, something i could follow up with on a daily base without having to draw magic lines on a chart my self or play any guessing games with me trying to read the price action on a bar by bar. The time horizon is also limited, which makes it attractive to me too. Either there is a trade that fits the criteria, i take the trade with fixed pre-defined SL/TP criteria and it works or not, or there is no trade, i go about my other business.

I actually know most of the london breakout strategies out there. Most of them make use of the Asian session (or at least parts of it) to determine a range and trading the break out of of it but what is new here to me is the fact it "fades" the breakout. So you seem to wait for some kind of pullback into the range before doing your entry. So simply meaning, trading in the opposite direction of the first breakout move...

What could be negative is that it's not based on statistics but with the BillyBar even with a 90% win rate to hit +5 it doesn't makes it "easier" if you then have to fix up for a huge amount of bigger losers too in the end.

I don´t know, might should give it a try.

Edit, regarding the word "secret", haha yes. Totally agree. But we know, most people would't care reading it, if there wouln't be a "secret" somewhere in these texts.

[quote=lddd;13542541]{quote} Hello Billy. I just stumbled upon it by accident and thought it might be something that could work for me without having to deal with fixing a bad BillyBar trade in such non-structured way i otherwise did/do so far. The entry/exit criteria here seems to be primarily based on price and time as well as also providing clues about take profit and stop loss (full plan),


The breakout/s they speak of are good.
These breakouts have been running for years and years.
If you then add in daily range you can set your own take profit and/or place stops.
It actually is standard but you have to trade the method.

Today many markets seem to have worked out for the +5 with SL at the oppposite end of the 08-15 range.

GBP/USD 08-15

EUR/USD 08-15

DAX 08-15

FTSE 08-15

I am currently looking for an opportunity to long dax.
t 11-24

Its ranging along the daily open line, about 14 pips above/below.

Maybe like that, H1 close above the upper red horizontal line > BUY, close above the lower horizontal line > Sell ?

good idea, i am only going to go long when it happens.

Spent two hours watching Nasdaq Futures and never found a trading opportunity. Maybe this afternoon will be different. You get days like this. Often the morning or afternoon is poor but rarely both.
Time to feed the puppy and get a cheese sarnie
(Mrs T. is at her pastel chalk art class)

If anyone is interested Micro oil Futures are out in July.

https://www.cmegroup.com/education/a...tures-faq.html

Dax, my line drawn to go short would have worked out for some points at least. Call me Nostradamus lol.



FTSE at an interesting level? I have a spread of between 0,5 - 1 Pip spread on FTSE. Same with Dax. Is that okay for scalping it? I have no idea, at least there seems to be no commissions on indices like i have with trading Forex.

I bought FTSE, lets see...

[quote=lddd;13542881]Dax, my line drawn to go short would have worked out for some points at least. Call me Nostradamus lol. {image}

And that was a breakout trade, i had an entry to short but like i said, i am only going to go long.

[quote=billytt;13542911] Yes, it probably can be good to have a bias to go either long or short. However i always struggled with that. You have a bias to go long, it goes short. You have a bias to go short, it goes long instead. OR even worst you cannot have a trade to make money because you filtered it out then seeing it would have made you money but you skipped it and the next day it matches up your bias you enter (you say wow great...) and boom it goes against you.

Its so frustrating and annoying. I really think if there would be a pure mechanical working system doing quiet okay in the long run i wout rather prefer leaving that thing run and maybe only doing that instead. The risk of me wiping out the account that way with scalping is perhaps as same as high as with any automated system, IF NOT even far higher lol.

May i ask how what your current bias for DAX to only go long is based on?

[quote=lddd;13542950][quote=billytt;13542911]{quote} Yes, it probably can be good to have a bias to go either long or short. However i always struggled with that. You have a bias to go long, it goes short. You have a bias to go short, it goes long instead. OR even worst you cannot have a trade to m


Dax will always go up, simple as that.
I do not do a bias with it. Let it drop , have a trigger and long. It does fail at times.

I have shorted dax i in the past, but i feel a lot better with a long.

[quote=billytt;13542956][quote=lddd;13542950] Ah okay. I thought if you say "only looking to go long" that IS having a some kind of bias

So you mean to have a general bias to only take long trades on the dax and wait to pick the best moments where it established a low to then long it? So "buying low" as people say. So question is when is low low enough....

I was about to say something similar to your statement like that "We germans are generally some nice people with good solid companies" and you should only always consider going long on the DAX. But that is more like what i would do if INVESTING, so like holding a position open for months or years. A total different game then.

With "scalping" i think having such kind of bias is irrelevant because you will most likely only be interested to grab a few points in a very short amount of time like seconds, minutes, maybe an hour if so. So it actually shouldn't matter what kind of bias you have you will most likely always trade against any prevailing trend, its just a matter of how far you will look to the left.

Anyways, i dont know. I am just a newbie trying to make somehow consistent money with trading. HOW really doesnt matter to me at all.

FTSE almost grabbed my SL but i am still in...

+3,75 EUR at the moment. If closing now it could buy me a Big Mac, wohoo...

Got away with a couple of scalps on nasdaq Micros - the 1434 bar halted toward close of previous -long tails and green popped below then reversed long through it and hit the "Claudia" 2:15am to 2:30am bar and took profit. Did it again and. will wait for closes inside 2:15 tp 2:30 area for any long scalp.

EDIT :Got away with it and will wait for price to calm down - my heart rate also needs to come down since this is the first time I have tried short term momentum trades on this animal.