Billytt Die happy trading e/j daily breakout

I am just getting to know the cTrader platform. It looks really nice and adaptive to me, even the web version of it. Love the charting, the tools and it has a build-in event calendar. Yay, no more missing a red-flag. It seems to be cheaper too. Only a $3 commission instead $3,50 per 1 lot round-turn. Looks like there are a lot of advantages. There you also have the "buy stop limit" / "sell stop limit" order types which I am missing with MT4.

Maybe it's a good idea to use the limit order types for a breakout entry as I do with the BillyBar instead of placing the pending buy/sell stop which are then also just getting executed as a direct market order when triggered. I have so far never experienced any noticeable slippage for my orders but just in case of a abnormal market behavior it might be less risky using limit orders especially if the trade size is rather of large size, is that true? The downside probably is that some orders will then not get executed/filled but perhaps still better than getting surprised with a larger slippage.

Does anyone here using it and can tell me about his/her experience with this platform? I am mostly interested in how stable/fast order execution is compared to MT4, what that "Depth of Market" thing is and if I have to care about that? I was somewhere reading/listening specially these so called ECN brokers are not guaranteed to fill the order at the expected costs, so in case of the broker I am using, if placing a large order you then get a lot of more spread suddenly added to it, so you end up paying 4-5 Pips in the end instead of their advertised "from 0.0 spread". With MT4 I had a few orders of 10 lots so far and these were filled without any issue in delay or a getting a higher spread than what ever MT4 was showing me. Normally it's between 0.3-0.7 for GU around the UK open.

I use Sierra Charts for futures and mt4 for all everything else, so really cannot comment on cTrader. I can only see the point of platforms other than mt4 if you need to use 'proper' data feeds. If your strategy needs a feed then go for it, if not I would stick to mt4 just to keep it all as basic as needed. Thats just my thoughts.

Thanks for your feedback. I am not sure what you mean with 'proper' data feeds. You mean for backtesting purposes? I otherwise don't see a difference in the price data that is feeded to the platform comparing both side to side. It is the same price shown to me at the same second on both platforms for the instrument i select.

If i did any backtesting to test my strategy so far i either manually scrolled back my MT4 live account's chart OR imported quality tick data from a external provider.

The cTrader platform like said is having this "buy/sell stop limit" order type included that i can't find on MT4 and some more nifty features like the "Market Range" option where you can then pre-define a maximum deviation. If let's say you enter 0.3 Pips in there and the spread for the moment you hit the button jumps to 1.2 Pips your order won't be executed because it would be then exceeding such setted limit.

There is more especially on the risk management part that seems to give more/better control here in cTrader over MT4.

But already the fact i will have to pay less of a broker's commission would be already a reason to me to might switch to it. As i am only looking for a very small profit target per trade having to pay more in commissions then for each new entry will sum up to a nice extra amount by the end of a year or so. So reducing trading costs is always good i think.

Otherwise yes, MT4 does give all the basics needed and even far more. However it also crashed a lot of the times for me over the last 2 months. I did a couple of fresh new installs and even that didn't help. If that would happen while executing a trade or beeing in a trade i would be really pissed. Not sure if you get a compensate by the broker in such instance but i doubt.

Anyways hope you had a good day all. Haven't done anything in terms of trading. I was swimming this afternoon and now i am going to keep reading about the Pivots hah.

Cheerio.

Dead Zone was Long all the way today, coming off of support and playing around a Z-Line.

Just had a quick glimpse at the last BillyBar setup. Again neither the 00-04 bias nor the the daily pivot point theory would have helped. Taking the long with leaving out the first break short would have failed. Price moved barely 4 Pips after the second high break.

A second entry after the third break (marked by the red horizontal line) could have been used to make up for that loss. It then moved the size of the range, however first turning back up again.

Not sure what i would/should have done here again instead of that filtering out an entry by building a "directional bias" at the first place doesn't seem to make any difference to me.

A humble range of 54 Pips today that GU gave. Yesterday it was about 70 or so...



Friday was even a bigger mess it looks. Touched the low and failed to reach a +5 Pips, touched the high failed. Then touched the high another 2 times and failed to reach that. Luckily I wasn't there on Friday...Any approach i so far have would have killed me. So still not sure what do with it. It seems to be unavoidable. Having no limit of how many times to enter on the high and low break and good bye all money. Having a limit and not recovering such loss would also mean a big drawdown / hole to the account that could be hard to recover from with trading only that one setup for the +5. I might be too stupid to find a way.

At least did the +5 today on the high break but what a mess again so far.

Here. Tried to sell a "bounce of the daily pivot" and placed a sell limit entry as price was already below. Price came back up and filled my sell. Price then shooted up higher. As i had no clear stop loss level on that sell entry i then rashed into placing a hedge and went long of same size. Price then dropped again and i though (ok maybe we are in a range bound type of condition now). So i placed another buy of smaller size to make some profits while a 5 Pips at higher size is locked for the moment. Now it seems to stall there or go lower again.

In short, its a total whipsawing again but how do you know this before the event something like that is starting, you can't right. So trying to trade a "breakout" here you then need at least a dozens of tries/re-entries to finally catch what ever move you inititally expected or you limit your entries to 1,2,3 and thats it. You stop trading for the day ad then accept not having achieved any daily goal and have a harder time making back such larger losing day within the rest of the week/month? Hm.

Some might say thats the reason why they watch multiple more markets to then decice of what might be the best to enter on. But actually anyone of it could be lead to such a fail. So it might be more important of how you manage that correctly then to either still be a winner at the end of the day or at least at a smaller loss or break even. Like said no idea. Really think about giving up on trading again, nothing working for me in any way.



Edit 14:30 | There you go. My first idea seemed to be not so much wrong but then shot my self into trouble after the sudden peak higher.

I could have waited for a close of the M15 candle i entered but then i would have sold for even a worse price and more important it would not have protected me from the first move up higher. So maybe i shoould have used a larger stop loss here but if all you look for is a 5 Pips a stop loss of 10 Pips is already twice as much and without really knowing to have at least a much higher chance then not to get stopped out i am not sure if is worth it :/

I have read through a few of your past posts and you strike me as somebody that is very confused. In my (older) opinion trading is not that difficult if you master the mental control aspect. In my view you can take a very ordinary basic system and make it profitable. Even just trading round numbers is as good as anything on a bare chart if you trade it correctly. From a personal point of view if I wanted to chase 5 pips i would stick to trading futures, but I really dont want to live in that way. Thats not to say that there is anything wrong with doing that. What I'm trying to say is that you must find a system that 'fits' you.
I hope that is encourages you as it is meant from a postive aspect, and I would really want you to do well.

Thanks for your words. Appreciate that.

You are right that i am confused. The thing is, that all the traders i find who claim to do this for a living are saying something like that. So that you can take a very ordinary system and make it profitable or that there are so many profitable systems already, "just" pick one. However not one of those 'experts' i found could tell me how or what exactly. If you then ask a question you get either flooded with often vaquely defined strategy details a person like me would never be able to repeat / build a simple entry/exit trading plan on, or in some other way leaving out explaining the real important questions to then make it "that profitable" in the end.

These are not supposed to be accusations, but that's just my impression after almost a decade involved into the word of trading.

So i ended last year here where i stumbled across the BillyBar setup and trading of statistics since that sounded more like what i needed to have. A clearer systematic/mechanical way of trading (even if that is still executed in a manual way). But at least it is giving a clear objective defined entry and exit criteria to me i can somehow repeat every day. However that all doesn't help if that is simply not profitable in the end.

I do not try to chase anything but only saying i would be happy to make a consistent 5 Pips a day as an average daily goal. A 100 Pips for a 20 days trading month. I have enough money to make the 5 Pips somehow meaningful for me but i then can't afford getting slaughtered and having to do a 4-5 more entries at 10 lots or so and still have enough further risk capital in my account to be able to open a trade no 5 if i then already lost a 100 Pips or so getting stopped out a 5 times at -20 like what could easily happen on the BillyBar setup i trade so far on a day like last Friday. But that is something you then not get answered by the experts. So how to make back that -100 Pips you would have lost like that.

I do not know about futures. All i know is they are traded over exchanges. I think to remember one person told me that futures after more expensive to trade compared to CFDs while not necessarily beeing less risky. Also i would have no idea of what to do with futues then to make a 5 Pips a day. So if you have an idea you might could give me a starting point and i will look at this and might think to start from scratch all over again...

I follow a trader who calls him self to be professional and made millions by trading who is mainly trading indices like the DAX, FTSE, Dow and i think who trades the forex market more from a longer term / swing trading perspective (something i am totally not looking for to do). Also he does not provide any clear routine/strategy i could try to repeat for my self. All he seems to do is trading what ever he "thinks" to see in the moment, trusting his experience and probably having a 7 figures account so he can easily afford to be wrong a dozens of times before he then catches that big trend entry where he then makes back for all the prior losing entries and then some. How do make a living like that, never knowing when that big trend is coming so you can make a payout and pay some bills from it, i dont know. Maybe at this stage it's already beyond the "trading for a living" and you more like doing this to give you a hobby, something to do but probably not because you really need the money anymore.

So here is my trade/s from this afternoon. Like i said i tried to sell while price on my M15 chart was approaching the Daily Pivot Point. It then peaked higher with the next bar leading to me doing another entry of same trade size to limit my further risk at that point. Not willing to accept i was wrong with it while also not had a clear stop out level. I could have actually also just exited/closed it at a fixed loss, but NOW it comes. As that was only at 0,10 lots i decided to stay in those buy entries. But i then had to leavbe home so i moved TP on both running positions just about to make a profit in the pure blind HOPE of price at least coming back higher again for one more time today.


I then however also placed a pending sell stop a bit lower again before leaving and hoping for price to got one more time higher. So at worst case i would be locked again coming back home for even a bit more of a floating loss as before i started all this.

But that is just nothing i would like to do with a initital order of lets say more a 10 lots instead a 0,10. So playing ping-pong and trusting my pure feelings and blind hope i somehow get out at a profit by the end of the day gambling like that.

Oh and the pending sell stop also still triggered now after i came back home. So i am currently a bit in a loss again at this one but made a +10 Euros after sticking to the earlier buy positions. Anyway's thats not trading for a living, that is gambling for a Happy meal then

Anyways, cheers and sorry for a longer post again.

Oh and could you try to explain what are your reasons to say you would prefer futures over spot fx? The spirits quarrel asking the web

But here is a comparison table i found at babypips.com.



If your main reason would be to have less fees with trading futures. My average net cost for a GBP/USD trade is 0.3 Pips + a 0,7 commission. So the 5 Pips TP on the BillyBar trade i try to make profitable for me is on average a 4 Pips net win after all costs. I could probably also go for a 6 Pips TP without having the statistics behind this setup getting any worse but i would have to perform a backtest again to find out exactly. But i think even a 8 or 10 Pips TP wouldn't affect the average win rate much.

But like said again that all doesn't help. Having a 80-90% strike rate month on the first break reaching to the +5 TP, if the few losses would then still eat up all profits made by the end of a month. So far i could not find a way for me to recover from these losses in a more routined way instead of then doing as many more entries as needed to be back to break even at least. Often at the the same day, often without any clear idea/plan behind. Often even due to increasing position size on the next entry or entries. So pure gambling at even much increased risk than actually thought/planned in the first place. That's why i stopped doing that and trading each and every morning as i was still doing so 1-2 months before. Because simply no idea what to do after a fail.

It is also not the discipline or the mental/psycholgy side if you suspect that might be my issue. I did trade the BillyBar or nearly ever other strategy that i tried so far in my trading career at the highest level of focus and did exactly what was told me to do. I am not a greedy person, thats why the 5 Pips TP/day is okay for me (if that would be the case) nor a fearful person. I am quiet risk friendly. So it might be really the pure strategy that isn't working, my money/risk management for it or i don't know what it should be.

Maybe it's another reason. Maybe Futures moving differently and/or are easier to trade or so. Then this could be a reason for me thinking to switch. Having not so much of these whipsaw days where you then stuck in a range for hours of hours or you get a setup like on the BillyBar to enter on the high just to see 15 mins later your stop taken out at the low again by a reversal candle that formed. You think ok let's do a second entry, this time short, boom it moves up again...

I already switched from trying to trade EUR/USD with same a small average daily profit target to only focus on GBP/USD after I found out about the BillyBar and people told me it would be a bit better for day trading as it provides a bit bigger of a daily range. Now the last days, weeks. Few months actually, it feels like more than not GU isn't any much better anymore. Again only a daily range under a 70 Pips. Constant changing market conditions. It doesn't help me to know. I could decide to switch again now and then boom this new thing stops to act like it supposed to do. For EUR/USD i would have even a bit less of a spread to pay.

Anyways i am out for today. Just scratched my last sell entry i had open for about +-0 before getting affected by rollover times. Wohoo.

Another one of the YouTube videos advertising a profitable trading system/strategy to profit from on a daily base.

Not sure what to think about that but it's also the GBP/USD. The track record he talks to have achieved is 2019.

It also doesn't explain the real entry/exit rules of such mechanical system. I guess you therefor have to buy a course again... "William Brown". Is that Billy perhaps? He is trading with IG, sounds like a brit and even what is described/explains in the video sounds a bit like the BillyBar

To be fair Iddd this sounds exactly like what you are looking for?

But if it WORKS!?? I think i have to buy his course again and/or spend another year of live forward trading to find out. I already spend quiet a lot of money in the past on systems, books, courses... Did it help? But maybe if somebody here does know this guy and tells me he's the real deal i might think about buying something again.

Amazing BillyBar today again and a range of 22 Pips so far. Wtf... Somebody broken the Pound/Dollar...



Edit 08:49 | Because of the small range by the BillyBar at least if provided a 1:1 risk:reward entry today. And it worked out, just hit the 5 TP target without touching the high of the range again first. But who could thought of that before the event. At least not me after seeing the last days, left it out. Just watched.

Now to the Pivot people. What happened to support at MS1 or DS1 (marked by my red vertical) Were they still sleeping? Price went right through without giving any kind of reaction to bounce/revert from there to the other direction again. So trading something like the Pivot i never know again when to enter or when not or when i would ever get a signal or not without having to watch the chart all day long not getting away my eyes from it a second?

I don't know him and the last trading course I bought was a long time ago. The worst thing I did once was sign up to a trading room run by a lady in the US. It cost me about £150 per month and was a TOTAL waste of money/time. Mentally it set me back about a year as I had to unlearn all the shite..

However, that was my bad experience and I was desperate to learn and earn, that's not to say there aren't any good ones out there but as we know there is a lot of bullshit.

Maybe someone can vouch for him? After all I think Billy sold his system, so they do exist!

Looking at a very simple (and I bet his strat is so simple you'll kick yourself when you hand over your Euros..! ), doesn't have to have a high win rate like the billy bar if part of the system relies on a risk to reward model. What you need to know is can you grind out losing days hoping for that 2 or 3 to 1 win?

Yeah, all not so easy...

Maybe Billy is now swimming in the Themse with a concrete block on his leg after the the people he sold his '5 Pips a living bot' to finally found it wont't going to deliver these long term profitable 5 Pips or 5% a day. Maybe thats why he went so quiet here idk. <- This is just me trying to be funny. Don't take it personal/serious please.

No i actually was/would be interested in even buying Billy's system if he could provide any kind of track record to me for at least 1-2 years of having traded that on a live account profitable but i guess this is not going to happen. Otherwise he shall send me his paypal, i donate right away. After Bitcoin came back well above the 40k mark i have again some money to be spend.

Will come back to the rest of your question later, currently watching Cable.

To the people who wonder why only targeting a 5 Pips TP.

It barely moved a 10 Pips, i think +9 on my chart after hitting the low trigger to go short. It already came back up again half of the setup's range. Not touched the SL yet. But definitely you would been sitting into drawdown by now waiting and praying for the 20,30,50 or even 100 Pips winning trade to materealize. I guess you then have to use a far different SL approach, maybe setting it to something more like a -100 Pips end too but no idea.

The BillyBar high still holds, wow.

Now lets say you would tried trading the reversion after price approached the DS1 Pivot level and entered long right after that larger green bull candle closed at my cross hair's location. It not even gave you a chance to get out for a 2 Pips profit so after spread/com you could have scratched the trade for at least a break even entry. No no, it then dropped like a rock in a second right after and you are down -10. Probably would have been stopped out at that point already.

Stick a grand in my account & I'll send you my Set & forget strategy...

I won't buy the cat in a poke again, thats why i would like to get some kind of proof first. Nothing to do with trading per se. I would also not buy a car again i have not done a test drive before. But good try mate

If that set and forget is good i think it shouldn't take long to make the 1k for your self. At least i wish all the money of the world and good success with it for you

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I think having losing days is part of the game and wouldn't be an issue for me if the overall results would met.

The real struggle i had so far with all these higher risk/reward kind of strategies but maybe having less of a win rate is that you then have not only to grind out some losing days but have complicated entry/exit rules, have a dozens of different markets to monitor to find these higher risk/reward setups to occur, have to keep trades opened until the next day having that additional overnight risk and additional margin required, having the mental/psychology fit for it maybe it its not automated/mechanical to sit there and trade someting like that.

I have a mechanical system I haven't used in ages I'll dig it out later and you can have a look at it (for free)