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Billytt Die happy trading e/j daily breakout

  • #58,301
  • May 19, 2021 3:25am May 19, 2021 3:25am
Quoting TraderR0N
Hi Billy. Just to say
Hi Ron, i was just going to say Hi in your room.
Hope you are well.
Market is still up and down and not normal. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #58,302
  • May 19, 2021 3:47am May 19, 2021 3:47am
Quoting billytt
{quote} Hi Ron, i was just going to say Hi in your room. Hope you are well. Market is still up and down and not normal. lol
it feels like December month. Roller coaster ride taking us for a nice spin. Up down stops hunts around. Broker favourite period. Haha!

Definitely not normal. Some are lying.

Stocks Dollar Coins tanking. Who’s is lying?

Dollar recover from intraday support. 89.40 is definitely the next key level, breaks then next stop will be at 88.00 - 87.50.

See you around bud.
10% buy 10% sell 80% waiting
  • #58,303
  • May 19, 2021 4:19am May 19, 2021 4:19am
Quoting TraderR0N
{quote} it feels like December month. Roller coaster ride taking us for a nice spin. Up down stops hunts around. Broker favourite period. Haha! Definitely not normal. Some are lying. Stocks Dollar Coins tanking. Who’s is lying? Dollar recover from intraday support. 89.40 is definitely the next key level, breaks then next stop will be at 88.00 - 87.50. See you around bud.

You too Colonel Ron, take care.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #58,304
  • May 19, 2021 7:53am May 19, 2021 7:53am
Quoting billytt
{quote} edit, the high broke and was a fail, and i did short the low break for my usual amount, yaaaaaaaaaaaaaaaaaaaaaay
Hi Billy my friend

Well done. Not traded the BillyBar for the complete week so far.

Question (Yes, what else...)

It looks like to me based on the 00-04 range established earlier the first break was to the upside at 06:45 UK time (so such bias would have been up) then it touched the low of that range a second time at 07:30 UK time (so the bias would have changed to the short side, right).

1.) Is that why you only entered short today?

---

2. ) 3 Fails in a row example.

Attached Image (click to enlarge)
Click to Enlarge Name: example-chart.jpg Size: 173 KB


Here you see the first break would have failed to reach to a +5, the second break failed too, the 3rd opposite break low again was good to make +5 but only very close so might have failed too for people depending on how good they were filled.

So lets say 3. fails in a row. As you might notice the second break low here only happened about already 1 hour later.

If it doesn't instantly break within the next bar for the +5 probably best to leave it for the rest of the day? So meaning, not entering a second time then.
  • #58,305
  • May 19, 2021 8:27am May 19, 2021 8:27am
[quote=lddd;13544889]{quote} Hi Billy my friend Well done. Not traded the BillyBar for the complete week so far. Question (Yes, what else...) It looks like to me based on the 00-04 range established earlier the first break was to the upside at 06:45 UK time (so such bias would have been up) then it touched the low of that range a second time at 07:30 UK time (so the bias wo

I felt uneasy going long with cable 08-00 break, i am constantly thinking about fixing a failed trade.
Once that high had failed i was short, better odds too.
Like i keep saying ,Cable is not trading as it usually does.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #58,306
  • May 19, 2021 8:29am May 19, 2021 8:29am
Dax, i managed to get a long trigger and i got a good healthy return.

Took a few off Nifty 50 long. yaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #58,307
  • May 19, 2021 9:15am May 19, 2021 9:15am
Quoting billytt
I felt uneasy going long with cable 08-00 break, i am constantly thinking about fixing a failed trade. Once that high had failed i was short, better odds too. Like i keep saying ,Cable is not trading as it usually does.
Thanks. Yes, i just question my self how to built a routine like that. I try to keep any emotional aspects out of my trading.

I often "feel uneasy" before starting my day but then i would never place a trade, hence also never have the chance to make money. So i like to have some objective criteria here when to place a trade or not. Like you always say, see a line trade the line. I am trying to do just that.

Switch trading to different markets... Yes you always have different market conditions. I first came to the BillyBar and GBP/USD to exactly avoid this kind of headache and people told me great great, one market to trade, one method is all you need...

Then you see all these experienced traders here suddenly shift and you think, wtf...

I guess you have a specific reason for why not trading the BillyBar anymore, like you say, that it might be not so easy anymore to fix a failed trade for you.

Perhaps the volatility decreased on GBP/USD is a reason? I dont know. For me its moving similar to last year at that time, similar to last months, similar to last weeks. 70% of the time price is more ranging than trending into one clear direction after breaking the BillyBar high/low. Nothing really i can say that changed.

I just also checked if there would be an advantage targeting for a better reward like staying in a trade until NY open OR take the loss if it comes back to the opposite range of where it broke out, but the results are poor. For the current month it says -20 Pips or so would have been the outcome doing that. There were like 2-3 trading days where it kept moving to one direction until NY opened but all the days it touched the opposite end of the 08-15 range taken the loss of these ranges would have erased all those larger profits. So that wouldn't work for me too.

As a few of you now started to look at DAX, FTSEE and so on i started to do some investigation here but i think i should leave it for the reasons said, as you cannot be consistently profitable at trading one market why that should change with switching to a different instrument, i dont know. Also i have no strategy/trigger here, so it would be plain stupid to do that i guess. You always hear its important to stick to one thing and improve instead of jumping methods/markets.

best regards.
  • #58,308
  • May 19, 2021 11:00am May 19, 2021 11:00am
Quoting lddd
{quote} Hi Billy my friend Well done. Not traded the BillyBar for the complete week so far. Question (Yes, what else...) It looks like to me based on the 00-04 range established earlier the first break was to the upside at 06:45 UK time (so such bias would have been up) then it touched the low of that range a second time at 07:30 UK time (so the bias would have changed to the short side, right). 1.) Is that why you only entered short today? --- 2. ) 3 Fails in a row example. {image} Here you see the first break would have failed...
Hi Iddd,

Just an fyi.
Looking at that graph (and crossing checking it with my own) I don't think the 0-4 range had been broken either way until the 10:15 bar (London time). Possibly it did at 08:15 with a different broker.

Not sure if this is how B would look at it, but if it hasn't broken the 0-4 range yet, one would think that you don't quite have a bias yet (if not using other biases).
  • #58,309
  • May 20, 2021 12:20am May 20, 2021 12:20am
Attached Image (click to enlarge)
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  • #58,310
  • May 20, 2021 1:29am May 20, 2021 1:29am
Quoting claudia1
{image}
30pips
  • #58,311
  • May 20, 2021 1:31am May 20, 2021 1:31am
Quoting KevinZeng
{quote} 30pips
And few more ....
Attached Image (click to enlarge)
Click to Enlarge Name: FTSE100(Ģ)M15.png Size: 27 KB
  • #58,312
  • May 20, 2021 1:40am May 20, 2021 1:40am
-20 and +40 on the DAX for a change.

-20 was a misplaced stop loss that shouldn't have been there!
Attached Image (click to enlarge)
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  • #58,313
  • May 20, 2021 2:05am May 20, 2021 2:05am
Quoting Wizzlebizzle
-20 and +40 on the DAX for a change. -20 was a misplaced stop loss that shouldn't have been there! {image}
Hi Wizzlebizzle,
What does the orange line stand for?
  • #58,314
  • May 20, 2021 2:13am May 20, 2021 2:13am
Quoting KevinZeng
{quote} Hi Wizzlebizzle, What does the orange line stand for?
Hi Kevin!

It's similar to a buy zone, nothing fancy, really just a line that I traded off.
  • #58,315
  • May 20, 2021 5:29am May 20, 2021 5:29am
Quoting Wizzlebizzle
{quote} Hi Iddd, Just an fyi. Looking at that graph (and crossing checking it with my own) I don't think the 0-4 range had been broken either way until the 10:15 bar (London time). Possibly it did at 08:15 with a different broker. Not sure if this is how B would look at it, but if it hasn't broken the 0-4 range yet, one would think that you don't quite have a bias yet (if not using other biases).
Yes. To make that clear, i meant the 00-04 range on GBP/USD for yesterday, not for the screenshot i then attached which was for a seperate question.

It was just minimal breaking out of the range by a wick/tail. Not sure if wicks/tails count in here for Billy's bias. And yes, could have been easily stayed in the range for a different broker's chart.

Anyways i think i will stop trading. Normally it is not my style to give up on things but after a year now trying this "method" it still feels too much of "gambling" for me without a recovery plan which i still couldn't find and therefor simple isnīt producing profitable results without the random fixes i then constantly have to do to get back to break even or a small profit. I do also not want to switch from method to method for the rest of my life or until i get grey hair. Life time is limited and probably not worth that struggle.

I am so far still overall profitable for the last year but it feels like more having increased the account based on pure luck mixed with a bit of discipline, but thats it. Could have been easily wiped it out too during some of my random recovery actions after i had to deal with a failed trade. I just be honest to you.

I started with $5k last May, the account is now about 23k. I was able to take out 5k once. I had max drawdown of up to -60% at times doing this where i was countered with positions over night, days.

I would have to increase from $30/Pip to something like $150/Pip to have at least a chance of making a life from the +5/day. And this would only roughly cover my fixed monthly expenses but no food, no drinks, no nothing. Forget about paying taxes too.

I thought of trying the FTMO funded program because here at least you woulnd't have your own money at risk. But without a working trading plan including entry/exit, risk management, money management, tradind times and what market/s. all the discipline and high risk tolerance i have wouldnīt simply make up for something that is plain net unprofitable in the end.

Okay, i though of BBQ today but the weather here is bad for this time of the year. Still a lot of rain and wind and not really warm. Could be better.
  • #58,316
  • May 20, 2021 7:16am May 20, 2021 7:16am
Quoting lddd
{quote} Yes. To make that clear, i meant the 00-04 range on GBP/USD for yesterday, not for the screenshot i then attached which was for a seperate question. It was just minimal breaking out of the range by a wick/tail. Not sure if wicks/tails count in here for Billy's bias. And yes, could have been easily stayed in the range for a different broker's chart. Anyways i think i will stop trading. Normally it is not my style to give up on things but after a year now trying this "method" it still feels too much of "gambling" for me without a recovery...
It's a tough old business, thats for sure and I know a couple of people who have been chewed up and spat out. Pretty much nearly ruined them.
Walking away with a few quid and knowledge that your time is maybe better spent doing other things isn't so bad. Good luck.
  • #58,317
  • May 20, 2021 7:19am May 20, 2021 7:19am
Quoting lddd
{quote} Yes. To make that clear, i meant the 00-04 range on GBP/USD for yesterday, not for the screenshot i then attached which was for a seperate question. It was just minimal breaking out of the range by a wick/tail. Not sure if wicks/tails count in here for Billy's bias. And yes, could have been easily stayed in the range for a different broker's chart. Anyways i think i will stop trading. Normally it is not my style to give up on things but after a year now trying this "method" it still feels too much of "gambling" for me without a recovery...
Then make a recovery plan! When you are not getting the results you want, try asking a different question.

I understand where you are coming from though, I have nearly given up several times.
  • #58,318
  • May 20, 2021 7:45am May 20, 2021 7:45am
The DAX trade i started 12:18 UK time is doing fine so far. But that was also just placed based on a gud feeling... 90 Pips in profit right now.

Not sure why the spread is that much variable. I have sometimes 1 Pip, now its 5. I mean thats a huge difference. Probably not good to trade the DAX with my current broker.

Attached Image (click to enlarge)
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  • #58,319
  • May 20, 2021 7:54am May 20, 2021 7:54am
Quoting Wizzlebizzle
{quote} Then make a recovery plan! When you are not getting the results you want, try asking a different question. I understand where you are coming from though, I have nearly given up several times.
Yes but really canīt find much help here. All i tried so far isnīt working out. A real mentor proven to have success in this business would be great to have but i more and more believe these boys and girls do not exit and the very few having success probably its more like for them playing with millions they already have made somewhere else in their life or an earlier career and then only doing this as a retirement project to have something to do/play. At least thats what i feels for me.

I thought of maybe reducing my risk on the BillyBar trade so its at least 1:1 but then it would been a 5 Pips stop loss looking for the statistical backed +5 and you would most likely get stopped out nearly every day because thats just no room for GU especially not how its moving lately whipsawing all over the place.

On the other hand looking for tons of more pips as a daily/weekly/monthly goal would mean to reduce the trade size per single entry/trade. I tried that in the past a lot with various strategies and it's even more a struggle because you then have to sit in front of the chart all day long or having trades opened for days/weeks to have a decent price move somewhere to a target you could then buy a cake from the profits made.
  • #58,320
  • May 20, 2021 8:52am May 20, 2021 8:52am
Quoting turnip15
Grabbed another ten - wait for that little consolidation to work out. A grab a few pips while you can sort of price action so far - for me.
Hi folks!
What platform is that Mr Turnip?
Happy trading to all!
used to be undecided but nowadays can't make my mind up
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