Billytt Die happy trading e/j daily breakout

and greetings from the swiss mountains;-)

Yes .. Newcastle vs West Ham...I wish Lots of luck to the Magpies.......not saying which kind of luck

Things been moving fast away from the screens this week and not had much time for anything else at all, screens, horses, or otherwise.

Next week should be fine.

Gosden landed a 14/1 winner in the 14.10. Happy.

Edit: Hollie got a place at 9/1 in 14.45. Not a bad day so far.

All flat here after an ok week. 2 days were good and the other 3 were a bit of a yawnathon. But at last its Friday!
Hope everybody has a great weekend.

Ok. I got the cTrader account and gave it a quick test. Lucked a +2.1 Pips buying GBP/USD.

I have to say, this cTrader feels a lot more professional and the execution was just blazing fast compared to MT4.

Now quesstion regarding to the "Depth of Market" feature cTrader is showing.

So if i see a price of 1.38595 for a 100 there, but the current ask price under "new order" is giving me 1.38588. It means if i would buy a 100 lots (10 million notional) that would be at a spread of 0.7 Pips, so difference from 1.38595 (dom) to new order at 1.38588? Do i understand this right?

Theme here

THe week end is here:
Have agood one.

Another version ...

good morning!

GU 5 day ADR at 69, coffees are half empty...i think i will wait for better conditions till i continue my trading.

EUR/USD BillyBar ...



FTSE NTBB



@Fagin | Would be a -10 on FTSE NTBB + -7 on EUR/USD. So day started at -17. To still end up net +5 by the end of the day i would need to make at least +22 by now for the same trade size while actually wouldn't want to risk more than losing a -30 Pips in total for a day. So gives me room for a third entry to make +Pips at max. a -8 Pips SL.

Then i though okay... after EUR/USD stopped me out GBP/USD now seems to follow that direction after giving signs of moving down too with a current bearish M15 candle. Entered. Boom directly moved up again. Another loss but i entered a counter order to "lock" it. Still a floating loss now lol.



Not sure but the "fighting back" at all costs tactic doesn't seems to work well for me. That is what i mean. And yes i could have waited for tomorrow after lost on the EUR/USD trade i entered but then i would have to make back that money tomorrow. It would have protected me of a second revenge entry but still tomorrow could be lost again too. So not sure again.

Anyways hope you all have a better day

DAX would have worked out on the BillyBar break for the +20/-10 it looks to me but can't watch and trade them all at the same time. First i would not have the willing allowed risk capital to do that and secondly i think the BillyBar setup would not even be valid to trade for anything else than GBP/USD as this is where statistics are calculated on.

Also not to forget the fact that trading these pure stats here in a set and forget way won't make it net profitable to me. Not even after a year of grabbing all the +5 winners every day but also the losing examples are included and not filtered out. By FAR not at the end of a month or week on average.

So no idea anymore. I am totally demotivated and frustrated again. Will make me a coffee now and surprise my gal at work and annoy her to hell

Ok my day so far.

EUR/USD after trying to take the breakout resulted in 2 x 0.10 -11/12 Pips. -20 EUR.


GBP/USD currently at 1 x 0.10 -7 Pips. -7 EUR

hey Iddd. still looking for holy grail?

the key words here are bank roll ready, daily range and fix failed skews.

hope this helps.

peace

Yeah. Easy words in theory, i see the real struggle on a daily base... Post a track record having achieved what you say for 3 month. So ended up at the +5 net pips / day for each of those month.

My bank roll is always ready and that is not a problem at all.

--

I scrolled back the chart again. Seems there was only a maximum of 4 fails for the current year so far for the BillyBar to miss hitting the +5 TP for a day after the initital first break. That i found was on 11/06/21.

I did a martin gale calculation.

Starting at 1 lots for the first entry a perfect month would be gross ≈ +850,00 EUR | 20 x 42,43 € (5 Pips). So after all fail/s recovered and called it a day.

After 4 trades lost, a trade number 5 at 54 lots would be needed to be back to break even for the day (gross).

At a leverage of 1:100 a required margin of 63.529,38 € would be needed. Still possible.

However if for what ever reason trade no 5 would have been lost again thats a -4.583,96 € day at that time then.

But what if you get slipped at the 54 lots entry and your stop loss of the -10 Pips for what ever reason would not be respected by the broker and you may end up at a -30 or even -50 Pips then instead? At a floating or realized loss of -50 Pips for the 54 lots that would be -23k for that day at that time. I am not sure if having such perfect month of 20 x 5 for 850 Euros would be worth it. On the other hands that would be at least a clear systematic approach without any guesswork and maybe this maybe that. For sure i would have to calculate in the spread/commission so even a few more lots would be needed or TP changed to +6 instead +5.

Also that failed day is based on a 10 Pips range but it could have been more for sure or you would have a rule to leave out any setup with a range > 10. For sure then you also would not end up at 20 potential trades won for +5 at the end of the month because such month might provide only a hand full of days to enter on then.

Speaking of SL not respected. I had a trade placed on Dax last night. See my SL and see where i got stopped out. That was about -15 Pips lost more than i was willing to lose on that entry. I mean wtf is that...

There'll always be bad days you know that. With the effort you're putting in you will get there. Be patient, I know it can be really frustrating at times but that's just the way it is ...

I missed the big drop on cable yet it was a clear break of a trend line. Too busy on the stupid phone lol.

Your charts look good, very clean you heading the right way.

Hey still no William ???

I'll be posting a lot more again and let's liven the thread up. Lem will too I'm sure.

Good luck !!!

Thanks for your kind words.

Yes. Billy seems to be very busy.

@ soccerfan do not say a word !!! Was actually a good game. The French guy NUFC have is a little bit special which means City or someone will grab him. Had races in town that afternoon sort of wish I'd gone there but that's the way it goes.

Hey Iddd Sunday was a bad day Soccerfan's team beat mine lol.