Billytt Die happy trading e/j daily breakout | Page 2942 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #58,821
  • Jun 28, 2021 5:48am Jun 28, 2021 5:48am
Quoting lemercenaire
{quote} Well you have now discovered by yourself why the NTBB isn't as successful in the long term as The BB! When I was running it, I basically didn't waste any time trying to tweak it - I just accepted it was moving into a down phase and let it sit till it came back round again.
Thank you....thats appreciated
  • #58,822
  • Jun 28, 2021 6:19am Jun 28, 2021 6:19am
Quoting herewego
this is just something i have been experimenting with on the ftse. I would welcome any comments. I had noticed that the ftse was getting a bit tricky to trade at the open using the 7:45 to 8:00 range as a breakout. Even with a buffer of 3 it was getting hit by the chop. To avoid this chop and to wait for some direction its looks like 2 x pending buy/sell stops at +/-10 from open price at 8:10 seems to a reasonable fit. Sl at 10 and tp at 10 is not a good r:r but its a starting point. Any thoughts? {image}
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  • #58,823
  • Jun 28, 2021 6:42am Jun 28, 2021 6:42am
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  • #58,824
  • Edited 7:59am Jun 28, 2021 7:23am | Edited 7:59am
M1
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I'm going to close the 50%

Edit:

50% banked

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  • #58,825
  • Jun 28, 2021 7:38am Jun 28, 2021 7:38am
Quoting MrGreen95
Cable H4. Lem will like this screenshot {image}
Speech incoming. Just sit on the hands now

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  • #58,826
  • Jun 28, 2021 7:53am Jun 28, 2021 7:53am
Quoting MrGreen95
{quote} {image} {image} {image}
GBP/USD D1. Fractality
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  • #58,827
  • Edited 8:25am Jun 28, 2021 8:13am | Edited 8:25am
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Me when i opened my (third) eye
  • #58,828
  • Jun 28, 2021 10:13am Jun 28, 2021 10:13am
Quoting herewego
SL at 10 and TP at 10 is not a good R:R but its a starting point. Any thoughts? {image}
I think the only way to find out is to test. I tested the NTBB (07:45-08:00) on FTSE 2 weeks ago for the 10 Pips SL, 20 Pips TP that Claudia suggested by going back until the beginning of the current year. I did so manually because the automatic solution I tried (the MT4 expert) didn't seem to give accurate results for me, not even for backtesting purposes.

It won't be satisfying no matter if you apply a few pips buffer to the actual entry triggers or not. Add any potential broker fees like commissions to it and you will be happy achieving a break even month.

For the BillyBar (08:00-08:15) it's basically the same. I haven't found any kind of fixed risk/reward kind of scenario so far, that would let you come out on top (a net profit). The take profit of +5 and stop loss at the opposite end of the range will NOT let you come out on top and especially not for a 5 Pips every day (if that would be your daily goal). Not even in the long. So you would then have to either make a further entry and target a far higher amount of target pips or increasing the position size on your next entry. Billy always liked to say more trades = more unknown risk.

However if you decide to increase the trade size you also increase risk and you will have consecutive breaks that will just fail over and over again. If you then increase your trade size every time it could easily wipe you out with 1-2 more fails depending on your account size. Lets say you didn't start at 0,10 or 1 lots but more like 5-10 Lots on the initial entry so the +5 TP will make you some money and you then can call it a day, stop doing further entries for the day. It's also easily possible it will fail far more than just the 1-2 consecutive times even if its rare it doesn't mean it can't happen.

I haven't found a solution for my self yet. I just don't think that there is any strategy based on a pure risk/reward calculation with clear objective and easy to understand entry/exit criteria like for e.g buy/sell at a high/low, that will always result in net profits at the end of a day, week, month. Or in other words, such "Holy Grail". Otherwise it would be a little too easy making consistent profits by just doing that?
  • #58,829
  • Jun 28, 2021 11:27am Jun 28, 2021 11:27am
Quoting lddd
{quote} I think the only way to find out is to test. I tested the NTBB (07:45-08:00) on FTSE 2 weeks ago for the 10 Pips SL, 20 Pips TP that Claudia suggested by going back until the beginning of the current year. I did so manually because the automatic solution I tried (the MT4 expert) didn't seem to give accurate results for me, not even for backtesting purposes. It won't be satisfying no matter if you apply a few pips buffer to the actual entry triggers or not. Add any potential broker fees like commissions to it and you will be happy achieving...
Thank you for your input. As I described I was doing things slightly different to the standard 2 methods using a range, and instead are opening with no consideration to any range. Will see how it goes in backtesting further.
  • #58,830
  • Jun 29, 2021 12:40am Jun 29, 2021 12:40am
HI ALL.
I have been soooooooooooooooooooooo busy.
i havent even looked in my room for weeks and weeks.
i worked most of June for 4 weeks in a trading room, trying to show them how my bot works. THEY FINALLY GOT IT.

SOOOOOOOOOOOOOOOOOOOOOO, i am ok and i will be back.
Take Care All.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #58,831
  • Jun 29, 2021 2:24am Jun 29, 2021 2:24am
Quoting billytt
HI ALL. I have been soooooooooooooooooooooo busy. i havent even looked in my room for weeks and weeks. i worked most of June for 4 weeks in a trading room, trying to show them how my bot works. THEY FINALLY GOT IT. SOOOOOOOOOOOOOOOOOOOOOO, i am ok and i will be back. Take Care All.
Welcome back, Cap'n!!!
  • #58,832
  • Jun 29, 2021 2:36am Jun 29, 2021 2:36am
Quoting billytt
HI ALL. I have been soooooooooooooooooooooo busy. i havent even looked in my room for weeks and weeks. i worked most of June for 4 weeks in a trading room, trying to show them how my bot works. THEY FINALLY GOT IT. SOOOOOOOOOOOOOOOOOOOOOO, i am ok and i will be back. Take Care All.
good to see u back!
trading is like dancing, don't think and just listen to the music!
  • #58,833
  • Jun 29, 2021 4:58am Jun 29, 2021 4:58am
Cable M15

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  • #58,834
  • Jun 29, 2021 6:54am Jun 29, 2021 6:54am
Quoting lemercenaire
{quote} Welcome back, Cap'n!!!
Knew he would get bail. I mean " knew he would return"

Welcome back William. To your "gnome from gnome"
every Saint has a past. Every Sinner has a Future
  • #58,835
  • Jun 29, 2021 7:37am Jun 29, 2021 7:37am
Don’t use technical indicators unless you know these things.

full article: https://macro-view.com/education/don...e-things/1752/

First thing to know: What are technical indicators?
A technical indicator is a series of data points that are derived by applying a formula to the price data of a security, whether it is a forex pair, a stock, bond or any other derivative.
Technical indicators have three main functions:
1- confirm other technical analysis tools.
it is very useful to combine different technical indicators with other technical analysis tools so that their noisy negative features cancel each other out while their signals (positive features) remain undisturbed.
2- alert to study price action a little more closely.
unusual spikes or declines, divergences, or some classical chart patterns shown inside the technical indicator window are early signs of a probable important price move that worth watching closely.
3- Helps at better timing entry and exit positions.
better timing is an essential component in active portfolio management strategies. Good fundamental trading ideas can go awry with poorly timing entry and exit levels.

It is important for traders to know the different types of technical indicators, and in which classification each indicator falls. most essentially, to understand how do they work to generate signals and how significant those signals are. The aim is to answer the question of which indicator a trader should use and in what circumstances.
Generally technical indicators are classified as either leading, coincident or lagging indicators. And here is brief explanation of each type and when you use it.
Leading indicators:
many leading indicators come in the form of momentum oscillators, and are designed to lead price movements. (example: CCI, MOMENTUM, RSI, STOCHASTIC, WILLIAMS %R, ROC …)

read full article here at macro-view.com
  • #58,836
  • Jun 29, 2021 7:41am Jun 29, 2021 7:41am
Quoting turnip15
{quote} Knew he would get bail. I mean " knew he would return" Welcome back William. To your "gnome from gnome"
Was waiting for your comment ! Welcome back William ...
  • #58,837
  • Jun 29, 2021 7:41am Jun 29, 2021 7:41am
Quoting billytt
HI ALL. I have been soooooooooooooooooooooo busy. i havent even looked in my room for weeks and weeks. i worked most of June for 4 weeks in a trading room, trying to show them how my bot works. THEY FINALLY GOT IT. SOOOOOOOOOOOOOOOOOOOOOO, i am ok and i will be back. Take Care All.
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Glad you got out...
  • #58,838
  • Jun 29, 2021 7:43am Jun 29, 2021 7:43am
Quoting macro-view
Don’t use technical indicators unless you know these things. full article: https://macro-view.com/education/don...e-things/1752/ First thing to know: What are technical indicators? A technical indicator is a series of data points that are derived by applying a formula to the price data of a security, whether it is a forex pair, a stock, bond or any other derivative. Technical indicators have three main functions: 1- confirm other technical analysis tools. it is very useful to combine different...
Now what are we going to do with you. Wait for Billy to return or shall I do it ?
  • #58,839
  • Jun 29, 2021 7:51am Jun 29, 2021 7:51am
Quoting macro-view
Don’t use technical indicators unless you know these things. full article: https://macro-view.com/education/don...e-things/1752/ First thing to know: What are technical indicators? A technical indicator is a series of data points that are derived by applying a formula to the price data of a security, whether it is a forex pair, a stock, bond or any other derivative. Technical indicators have three main functions: 1- confirm other technical analysis tools. it is very useful to combine different...
Like a cuckoo you land on our thread in an effort to peddle mis- leading indicators. Go away please.
every Saint has a past. Every Sinner has a Future
  • #58,840
  • Jun 29, 2021 7:56am Jun 29, 2021 7:56am
Quoting turnip15
{quote} Like a cuckoo you land on our thread in an effort to peddle mis- leading indicators. Go away please.
Oh he's suspended.
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