Billytt Die happy trading e/j daily breakout

dont forget, monday is US and GB bank holiday.

Then we got the first Friday of the month giving NFP. Not as fun as it used to be but still worth being aware of.

She can play guitar for sure how she ended up with Alice C ??

BillyBar. The high broke, i am long. Lets see.



There you go. Added a second order looking for the +5 on the low break just in case. One order to keep it locked (for what ever reason lol).




08:55 | Long break failed. I am now 1 x short to hedge, 1 x looking for +5 again.



08:59 | Moved TP on the second order to +15. That would be break even then after 1 x fail for -13,7 + 1 plus. Totally out of plan again but well, thats the thing with trading this "method" like the way i understand so far lol.

DAX BillyBar as well as NTBB would have worked out nicely instead. However this is hindsight right...



09:11 | GBP/USD | BillyBar. A bit more needed to be back to break even...



09:13 | Had to move TP another time. Break even is actually of greater distance now after price triggered the low and my second order. Mmmh.




09:16 | Close break even, well at least out of it. I am done for today.

Probably exited to early out of the second short right? Now its easy to say so after the event but i was actually very happy to get out of all the positions for at least close to no loss now after the high break failed.

I needed 18 Pips on the short side to be back to break even. I exited at 17,8. How ever price could have easily shooted up again for a second time after the low was triggered. So still not sure if that is a good tactic.

The actual range i got 13,7 Pips. I had a buffer of half a pip on the long and short. Not sure why 4 more Pips were needed to be back to break even, probably due to the commissions and spread.

NTBB as well as the BillyBar seems to work out quiet well for DAX and the FTSE index if you apply the SL to opposite end of the range rule and TP = 5 Pips again. A good win rate then like with GU. But in terms of a more reasoanble / positive fixed risk/reward ratio, my backtests so far haven't showed any profitable results.

I tested SL=10 Pips, TP=20 Pips for DAX and FTSEE, no buffer used there.

Best regards.

FTSE did it again. Caught me on the down (just) but the run up more than made it up. Got a buffer + 1 going to increase that to + 3.

Lem - check out Nottingham 15.40 an interesting handicap. You'll see my interest with Adam, Hollie, Frankie/Gosden all in it.

Too busy with FTSE missed this. Blame Billy if I can find him.

hi, i have a question to the more experienced traders here.

do you use hidden or fake SL&TP?

to be true i never thought about that because i always used a true ECN broker which is not interested in seeing me loosing. they charge me commission and their interest is to have a growing client.

i am curious of your answer,
thx.



here is an interesting video of a trademanager with functions of fake&hiding SL&TP:

Short answer: No.

Why would you use a broker where you felt that you would need to employ such a tactic?

lem, a brilliant answer because it brings my unconscious reluctance to deal with the subject to a point and thus answers my question and saves energy, thank you.

Good stuff.

It's great if the second or third break directly following up will easily make up for the first failed break. That was one of my earlier thoughts how to deal with a failed first entry and still is. So without the need of trading a further method/strategy, new setups multiple different markets and whats else hocus pocus. So either increasing up my trade size heavily on the next following up break without changing the take profit target so the probability of the stats to hit such target will remain the same (for e.g the +5). OR alternatively not increasing trade size but still keep entering on each new break but then take profit is size of the range failed or size of your sl failed. So like you said if the first break fails to hit +5 at 1 lot at a range of (25 Pips). A second break at 1 lot to make up for that your TP then needs to be hitted for +25 + maybe more like +27 to cover trading costs too. If you then hit that +27 with a second break, great you are back to break even, can call it a day,shut down the trading plattform, no problem.

However if you get a more "choppy" day it's different. Doing such tactic then (e.g entering multiple times on the break and/or increasing trade size) you will easily erase all of your past positive results for a month or what ever doing so. I am not sure but it looks like to me there is no crystal ball here you can use to predict when such choppy day will unfold and you then get slaughtered doing what i said.

So not sure, what would you say?

I also took stats this morning for May on the BillyBar, but only GBP/USD. I got 16 out of 21 days where the first break was +5. A 76,19 % win rate. So a total of +80 Pips on the win side, 5 trades failed where SL is opposite end of the range, so -60 Pips on the loss side. So +20 gross win. If you include trading costs/spread from a pure risk/reward this would have been more like resulted into a net loss.

BillyBar.

08:45 | The Low break failed but setted up a buffer that saved me so far. The high broke too now. Lets see this one. Having a buffer too.

Actually looks like i am trading the 00-04 range.



08:51 | High broke and my buy trigger got activated too. Lets see.



08:54 | Waiting...



08:56 | Removed the TP on the pending sell stop and moved it up to the actual low trigger as this is where i want to "locked" as latest then right?



09:02 | Feels like hours...



09:04 | There we go. I am done. Have a good weekend all.



Current week. 3 fails out of 5. Left out on the good days...

Monday: Failed ( not traded )
Tuesday: Failed ( traded and fixed, +-0)
Wednesday: Worked ( not traded )
Thursday: Worked ( not traded )
Friday: Failed ( traded but with buffer, +5)

Big red arvo about to kick off

Nothing to see here, move along, move along...lol. Dontcha' just love the news!? Lunch now 'till it settles down.

Oh and ignore the Dead Horse info, that(or pretty much anything else) plays no part in this game. This was Sell all the way.

NAS100 1-min NFP Spike-Hunt + 7.06 +9.04 + 12.99 [+29.09]

Is there anything that you doesn´t trade. Doing all these many pips all over the place never having losses you must be definitely on the Forbes list by now?