Billytt Die happy trading e/j daily breakout | Page 2939 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #58,761
  • Jun 24, 2021 3:00am Jun 24, 2021 3:00am
Quoting Wizzlebizzle
{quote} I would have been whipped a little bit on that first short. Glad I stayed out. Also staying out of GU until that block as cleared/cleaned up more. {image}
Yep, proper crunch zone this one!
  • #58,762
  • Jun 24, 2021 3:10am Jun 24, 2021 3:10am
Quoting Wizzlebizzle
{quote} I would have been whipped a little bit on that first short. Glad I stayed out. Also staying out of GU until that block as cleared/cleaned up more. {image}
yes, you can only play the upper and lower band.

but it is better to wait until the fog is gone and you can see the blue sky.
trading is like dancing, don't think and just listen to the music!
  • #58,763
  • Jun 24, 2021 3:16am Jun 24, 2021 3:16am
Quoting birdland
{quote} yes, you can only play the upper and lower band. but it is better to wait until the fog is gone and you can see the blue sky.
All about mid-day news. Nothing will happen as we know but it's there ... can't even blame Billy.
  • #58,764
  • Jun 24, 2021 3:25am Jun 24, 2021 3:25am
Anybody playing around with the prop firms ? I'm still messing with FTMO.

Speaking of mess FTSE was again.
  • #58,765
  • Jun 24, 2021 3:27am Jun 24, 2021 3:27am
Quoting claudia1
Anybody playing around with the prop firms ? I'm still messing with FTMO. Speaking of mess FTSE was again.
no, that time is far behind me;-)

i just want to concentrate on my account trading.
trading is like dancing, don't think and just listen to the music!
  • #58,766
  • Jun 24, 2021 3:28am Jun 24, 2021 3:28am
Quoting birdland
{quote} yes, you can only play the upper and lower band. but it is better to wait until the fog is gone and you can see the blue sky.
Went long of the top (breakout trade). I liked the rejection at the bottom of the range and the upwards momentum after it.

Could have played the range (from the bottom) as you said, Bird.

Edit: Could be a zline in the making as well there.
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  • #58,767
  • Jun 24, 2021 3:28am Jun 24, 2021 3:28am
Quoting birdland
{quote} no, that time is far behind me;-)
Sounds very sensible !
  • #58,768
  • Jun 24, 2021 3:34am Jun 24, 2021 3:34am
Quoting claudia1
{quote} Sounds very sensible !
yes, whenever i did trading for others my performance suffered.

then i decided long time ago never to touch external funds, even if somebody would pay me 1mio per year fixum.
trading is like dancing, don't think and just listen to the music!
  • #58,769
  • Jun 24, 2021 3:38am Jun 24, 2021 3:38am
Quoting Wizzlebizzle
{quote} Went long of the top (breakout trade). I liked the rejection at the bottom of the range and the upwards momentum after it. Could have played the range (from the bottom) as you said, Bird. Edit: Could be a zline in the making as well there. {image}

If you played the Billy Bar wouldn't you have got short here? It broke below and I thought it was an entry. From what I know, I thought it was run on a pure break.
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  • #58,770
  • Jun 24, 2021 3:43am Jun 24, 2021 3:43am
Quoting Wizzlebizzle
{quote} Went long of the top (breakout trade). I liked the rejection at the bottom of the range and the upwards momentum after it. Could have played the range (from the bottom) as you said, Bird. Edit: Could be a zline in the making as well there. {image}
+5 only
  • #58,771
  • Jun 24, 2021 3:45am Jun 24, 2021 3:45am
Quoting keroppi_gims
{quote} If you played the Billy Bar wouldn't you have got short here? It broke below and I thought it was an entry. From what I know, I thought it was run on a pure break. {image}
If you played the Bill Bar yes. I didn't play it though, for several reasons. Mainly that area of congestion that I marked a couple of posts back.
  • #58,772
  • Jun 24, 2021 3:55am Jun 24, 2021 3:55am
Quoting claudia1
Anybody playing around with the prop firms ? I'm still messing with FTMO. Speaking of mess FTSE was again.
Funny you should mention that I'm 3 days into a 35K challenge after blowing one up a couple of months ago using my swing trading system (it occasionally runs into +10%DD).. as luck would have it this happened on the 2nd day!

So now I'm scalping 5 pip range bars on GU.. we'll see what happens but it's entertaining anyway and keeps me out of trouble
  • #58,773
  • Jun 24, 2021 4:00am Jun 24, 2021 4:00am
Quoting Wizzlebizzle
{quote} If you played the Bill Bar yes. I didn't play it though, for several reasons. Mainly that area of congestion that I marked a couple of posts back.
Understood. Thanks Wizzle
  • #58,774
  • Jun 24, 2021 4:34am Jun 24, 2021 4:34am
Quoting Wizzlebizzle
{quote} Went long of the top (breakout trade). I liked the rejection at the bottom of the range and the upwards momentum after it. Could have played the range (from the bottom) as you said, Bird. Edit: Could be a zline in the making as well there. {image}
The Zline didn't trigger a trade for me.
  • #58,775
  • Jun 24, 2021 4:42am Jun 24, 2021 4:42am
Quoting Fagin
{quote} Funny you should mention that I'm 3 days into a 35K challenge after blowing one up a couple of months ago using my swing trading system (it occasionally runs into +10%DD).. as luck would have it this happened on the 2nd day! So now I'm scalping 5 pip range bars on GU.. we'll see what happens but it's entertaining anyway and keeps me out of trouble
Watch this chap. he trades levels.
He is also trailing a FTMO type thing. Not my cup of tea but he thinks his will be better than many such "firms" out there.

Main thing is - watch his "levels' trading. A good lesson in planning and patience

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #58,776
  • Jun 24, 2021 4:46am Jun 24, 2021 4:46am
Quoting Wizzlebizzle
{quote} Went long of the top (breakout trade). I liked the rejection at the bottom of the range and the upwards momentum after it. Could have played the range (from the bottom) as you said, Bird. Edit: Could be a zline in the making as well there. {image}
You learn a lot watching price over time. How it consolidates into levels or groups within a single bar, momentum etc. Look at Claudia's charts for good examples of planning, waiting, then executing trades based on naked price action.
every Saint has a past. Every Sinner has a Future
  • #58,777
  • Jun 24, 2021 4:55am Jun 24, 2021 4:55am
Quoting turnip15
{quote} You learn a lot watching price over time. How it consolidates into levels or groups within a single bar, momentum etc. Look at Claudia's charts for good examples of planning, waiting, then executing trades based on naked price action.
Thanks Mr. T. Good idea.

Edit: Not gonna lie, I have looked at Claudia's charts but I often don't see what I am supposed to see
  • #58,778
  • Jun 24, 2021 5:42am Jun 24, 2021 5:42am
Quoting turnip15
{quote} Watch this chap. he trades levels. He is also trailing a FTMO type thing. Not my cup of tea but he thinks his will be better than many such "firms" out there. Main thing is - watch his "levels' trading. A good lesson in planning and patience https://www.youtube.com/watch?v=jpV1VL1LygU
Yep he seems to have a plan Mr T, cheers!
  • #58,779
  • Jun 24, 2021 9:02am Jun 24, 2021 9:02am
Quoting lemercenaire
For those interested. The Billy Bar this morning. Long Bias. Billy Bar {image}
Why long bias? Remember, trade the lines?... The Low broke first and failed. Monday failed too. Two fails already again this week. Monday the range was about 18 Pips and today it was about 16 Pips. That's a 16+18 = -34 Pips standing out versus a potential +10 (2 x +5). Still would have been -24 to overcome / fix to be back to break even at least and a +20 more (Mo-Thu) to end up at +5% every day.

Sorry but unless you not start talk about how to fix these failed trades (i know i know, you all only have winning trades) what is the point of posting these cherry picked winning examples? It would be more productive then if you all just keep sticking to post YouTube music videos or talk about the horses and other funny bets.

Anyways just my opinion, do what you have to do.
  • #58,780
  • Jun 24, 2021 9:20am Jun 24, 2021 9:20am
Quoting keroppi_gims
{quote} If you played the Billy Bar wouldn't you have got short here? It broke below and I thought it was an entry. From what I know, I thought it was run on a pure break. {image}
You are absolute right with what you noticed. Billy it self mentioned several times in the thread the idea is to take the break what ever it is and target a +5 Pips as the statistics are generally good to hit such TP.

However the fails if your SL/Counter is at the opposite end of the range its normally a few times times bigger at least compared to your potential TP of just +5. So based on a pure risk/reward point of view it is highly unprofitable if you treat it like that, no matter how long you trade it. I backtested several years and trading this my self for now over the last 14 months or so.

So what you have to do, you have to fix these failed trades somehow your self to make this somehow end profitable if trading only that setup/strategy in such issolated way. Billy mentioned a few times he was able to make a life from trading for +5/day only and no doubt its possible depending you trade so at the right monetary % pip but you then definitely need to fix these failed trades you WILL have, thats for sure.

I do not get the idea of filtering out trades based on these "directional biases" and what else subjective crap as it will definitely also filter out your potential winning examples but yes maybe some are just so much god-mode traders they never have losing trades doing so then

Good luck.
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