Billytt Die happy trading e/j daily breakout | Page 2966 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #59,301
  • Aug 16, 2021 1:19pm Aug 16, 2021 1:19pm
Quoting claudia1
Hey Iddd Sunday was a bad day Soccerfan's team beat mine lol.
Yes, i got that. A perfect start to the season for them, congrats. I actually don't follow the premier league as closely as i used to but if so i am a supporter of the reds. The last time i have been there I got invited as part of an event by New Balance. They took us on a private tour of the stadium and so on. It was quiet impressing, especially the dressing rooms of the players. Will be an interesting season.
  • #59,302
  • Aug 16, 2021 2:28pm Aug 16, 2021 2:28pm
Quoting claudia1
@ 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.
Maxmin looks great...good game, lots more to come..
Onwards and upwards...
  • #59,303
  • Aug 17, 2021 2:24am Aug 17, 2021 2:24am
@ Lem - have a look at Wolverhampton 14.00. Adam has an interesting ride in this handicap. Currently 9/2 favourite. (Like the name too !)
  • #59,304
  • Aug 17, 2021 3:18am Aug 17, 2021 3:18am
What a mess again with GBP/USD. Not entered on the BillyBar because i had a appointment with my dentist this morning. But it looks like the +5 could have reached after the high break. Since then it changes direction with every new bar again. The usual whipsaw with no clear moves of at least a few candle's making higher highs or lower lows.

I am still "locked" in a trade after some incredible rubbish i did yesterday. It's a -25 Pips but only at 0.10, so who cares. Still very annoyed by my self having lost the focus so much again and placing entries that are outside of any strategy.

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  • #59,305
  • Aug 17, 2021 3:36am Aug 17, 2021 3:36am
Here is the answer of the broker regarding to the slippage on my stop loss entry. So a slippage of 15 Pips is "normal" here? What is the point of setting a pre-calculated stop loss at -15 Pips if it then gets executed only a -15 Pips later. And that was even just the 1 standart lot on Dax at $1/Point. The world wide largest broker by volume feeded by all these great liquidity partners they advertise is not able to get me out of an order at my exact level or max a 0.1 Pips difference.

Here is the trade again i did.

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Quote
Thank you for your patience.

We have checked your mentioned trade and as we can see, the Stop Loss was correctly triggered and filled once we received a BID price lower than that from our Liquidity Providers, upon the market opening.

Please note that IC Markets does not offer guaranteed execution of trades. All trades and orders are filled at the prices we stream on the platform at the time an order is placed, which means all of your trades are executed and filled at the next available price.

Therefore there is no guarantee that your order will be filled at the price you place your stop loss.

When you trade in IC Markets, your orders will be filled at the next available price once they have been triggered, in your case 15941.20.

Please note your orders are filled automatically at the best prices streamed from the liquidity providers included. We are not in control of any price movements and we do not apply any hidden fees.

Slippage is a normal market occurrence when trading in general, and it will be higher during times of low liquidity and high volatility. such as the market opening period, where gaps, wider spreads and low liquidity are to be expected.
  • #59,306
  • Aug 17, 2021 4:42am Aug 17, 2021 4:42am
Quoting claudia1
I missed the big drop on cable yet it was a clear break of a trend line. Too busy on the stupid phone lol.
Indeed it gave a nice drop after the trendline. I would have no idea however how to build a strategy for my self with trendlines. My impression is that drawing such trend line then would either lead to a lot of fake breaks doing so at a lower time frame. On the other hand, looking only at H1 or up would maybe not provide enough setups to make enough money by the end of a week/month with only looking for these and doing that. Not sure what a win/loss rate here would be if that can be even calculated for if not having clear rules for when and where to draw them.

Also no idea about the the criteria for drawing such lines. Here i tried drawing 2 trend lines i found obvious (after the event) connecting the low of last week on wednesday with the low of the BillyBar on followed the next day. And then for the second one, connecting last friday's low it with the low of the BillyBar from yesterday.

Further the entry could be right at the touch of price at the line or having waited until the close of a candle below/above the line. In the example of waiting for the close, that huge candle that broke the trendline yesterday instantly got rejected and price shooted up higher again. So probably i would be stopped out a this one entering after the close.

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Anyways hope you have a good day. Hope everyone else too. I am out for today.
  • #59,307
  • Aug 17, 2021 5:16am Aug 17, 2021 5:16am
Quoting claudia1
@ Lem - have a look at Wolverhampton 14.00. Adam has an interesting ride in this handicap. Currently 9/2 favourite. (Like the name too !)
NR.

If You Can Dream looks a good alternative and suitable name for you also!

2yo Nursery mind you...might as well use a pin and blindfold, lol.

Good luck!
  • #59,308
  • Aug 17, 2021 5:28pm Aug 17, 2021 5:28pm
The broker support told me again that my DAX entry was filled at the next best available price they received by their liquidity partners after my stop loss price triggered. I am not sure what to think of it. Some other traders told me they are most likely cheating. A 15 Pips slippage on a order at 1$/pip sounds somehow strange to me (even during periods of low liquidity). I mean that is 100% more of a SL than i was willing to risk. I could have same as good thrown the money to the garbage can.

I never noticed a slippage for my entries, stop loss or take profit orders for my GU or other FX trades. Some of those trades i even carried during these "low liquidity" periods like a Sunday to Monday morning and they were at a way higher position size. Only the spread is regular widening for about 10 Pips between 23:00-00:05 my time but that is something i was already aware of.

Not sure what to do. Now i was also reading somewhere that there is a "Virtual Dealers Plugin" brokers can manipulate the MT4 platform. Also that the limit order types which you can set on MT4 are literally useless because they would be still only count as market orders and so the price you get stopped at could be still different to what you planned, hence making any risk management plan somehow useless.
  • #59,309
  • Aug 18, 2021 12:19am Aug 18, 2021 12:19am
US Index - is that a double top on daily ? Certainly resistance up there. Might send cable upwards after yesterday's drop.

Waiting and watching.
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  • #59,310
  • Edited 8:10am Aug 18, 2021 7:45am | Edited 8:10am
Quoting claudia1
US Index - is that a double top on daily ? Certainly resistance up there. Might send cable upwards after yesterday's drop. Waiting and watching. {image}
I bought cable at the daily open basically in the hope of price retracing some back up again after that quiet large down move for the begin of the week. However this is small position size, no stop loss and no target. I am currently up 14 euros 14 Pips, wohoo ;-)

Edit. The BillyBar break just worked out for the +5. 5.3 Pips for me before retracing back to hit the low. The low (second break) then failed to move on for +1 Pip lower and shot up again. The third break then (high again) would have been again good for the +5. Still no idea how to benefit from this but never give up right
  • #59,311
  • Edited 9:43am Aug 18, 2021 8:28am | Edited 9:43am
FTSE 7:45am to 8am this morning

Edit: This would have been posted on another thread ( Roadmap) but thought I would show how this bar ( 7:45 am to 8am) fits into that system ( Roadmap) - and in that approach the BIAS would be Short.
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every Saint has a past. Every Sinner has a Future
  • #59,312
  • Aug 18, 2021 9:08am Aug 18, 2021 9:08am
Quoting turnip15
FTSE 7:45am to 8am this morning {image}
Hi,

Same here. There looks to be quiet a lot of these "fake outs" regulary even on FTSE. A buffer of 5 Pips often will not protect you of the first break getting stopped out no matter if using a -10 SL or placing the SL at the opposite end of that range. The 08:00-08:15, so the BillyBar instead of the 07:45-08:00 personally to me even looks to work out far better overall compared to the NTBB.

You may also want to notice how some additional "directional filter" would have worked out. So for example using the 00-04 range as such filter. Price touched it on the high. So you might filter your day to only enter long and take a high break that happens. Also price was above the Daily Pivot Point, giving it even even further confirmation of a bullish sentiment in tact and that direction/trend is to the upside. Did it help? No price then broke the low and moved lower so far...

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  • #59,313
  • Aug 18, 2021 2:28pm Aug 18, 2021 2:28pm
Quoting lddd
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 https://www.youtube.com/watch?v=ai2NHPyIhqQ&t=184s...
It's overpriced crap. Mean reversion, session momentum. Not worth the money at all
  • #59,314
  • Aug 19, 2021 1:50am Aug 19, 2021 1:50am
Quoting sheppy
{quote} It's overpriced crap. Mean reversion, session momentum. Not worth the money at all
Thank you. I wasn't going to spend any more money on holy grail courses anyway. I thought he would describe his mechanical working strategy for free as it sounded interesting to me in the video i saw. But all these videos seem to be just a teaser to sign up for his courses, like you say.

What do you think about this EA i found -> https://www.myfxbook.com/strategies/...ular-ea/314553

A 7.82% average month ROI since 2015 sounds like something "working" to me. And that is only at a drawdown of 5.94%. I had drawdown of up to 60% already with the BillyBar like i did so far...

But not sure if you can trust all or some of these EAs with such great looking curves on sites like these. Maybe that is just another scam. Otherwise based on the poor numbers and the track record it shows it would be possible for me to provide such "living" from trading with results like these.
  • #59,315
  • Aug 19, 2021 2:20am Aug 19, 2021 2:20am
Quoting turnip15
FTSE 7:45am to 8am this morning Edit: This would have been posted on another thread ( Roadmap) but thought I would show how this bar ( 7:45 am to 8am) fits into that system ( Roadmap) - and in that approach the BIAS would be Short. {image}
Another FTSE Claudia type chart. My bias was short again.
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every Saint has a past. Every Sinner has a Future
  • #59,316
  • Aug 19, 2021 2:47am Aug 19, 2021 2:47am
Quoting lddd
{quote} I bought cable at the daily open basically in the hope of price retracing some back up again after that quiet large down move for the begin of the week. However this is small position size, no stop loss and no target. I am currently up 14 euros 14 Pips, wohoo ;-)
It further dropped and i am no longer up but -60 Pips down
  • #59,317
  • Aug 19, 2021 3:15am Aug 19, 2021 3:15am
Regarding my 14 Pips slippage on the DAX trade.

Quote
Hi again,

Please note that we do not offer trueECN accounts, we only offer the RAW spread and Standard account types. We consider ourselves to be a CFD provider offering the ECN pricing model as we do not operate a proprietary trading book and source our pricing from external unrelated liquidity providers via an electronic communication network. These prices are then passed onto you with no intervention. And in order to provide you with better price certainty and to ensure fast execution speed we do not hedge each and every single position with our liquidity providers.

IC Markets streams prices from its liquidity providers, who, in their turn, derive those prices from the market (or exchange) in the case of share CFDs; and from banks and non-bank liquidity providers in the case of Forex. The source of the underlying market price may vary for each product.
Although IC Markets’ prices come from its liquidity providers and IC Market is not practically involved in the making of the price, it is simply streaming prices which it receives; the prices nonetheless become IC Markets’ when it provides them to clients to execute on. This is the case for all derivative products which IC Markets offers to its clients.

Therefore, as we explained before, there is no guarantee that your trades or orders will be filled at your exact requested price, due to the fact that we receive our prices from our liquidity providers and as such, your trades and orders are triggered and filled at the next available price.

The commission charge or other charges such as the markup on the Standard account, are for the trading services ( Opening and closing trades ).

If you have a trade open over the weekend, or over the market rollover period ( When an instrument stops for trading and re-opens afterwards ), and the market opens with a price lower/higher than your order and it is triggered, that order will be filled at whatever price is available at that moment, which we receive from our Liquidity Providers.

So basically this means there is nothing i can do to not getting slipped and technically this could be unlimited. So setting a stop loss order is kind a useless in case of slippage? I guess there are no such ECN brokers offering the leverage IC Markets does while also providing some kind of guaranteed stop, do not slip me a 14 Pips or at least would offer a negative balance protection so i wouldn't end up potentially owning them a lot of money.

I could move to a broker like IG who is a market maker i guess and most likely all my trades would be then internalized and there would be no slippage. I think they even offer such guaranteed stop loss orders. This would probably remove some of my worries here but these guaranteed stop loss orders are then for a extra premium fee and would then eat up even far more of my little profit target of the 5 Pips/day i am looking to make. I guess there would be then also at least a spread of 1-2 Pips already even if no exra commission on top. So would be far more expensive in the end even having a bit better control over slippage.

Also I would then have to deposit and trust such broker a way more money to be able to still open a larger position having only a leverage of maybe 1:30 available. So most of the money desposited would be only sitting there for pretty much nothing than providing margin to a trade and in case of an insolvency of IG good bye all my money? Mhh.
  • #59,318
  • Aug 19, 2021 3:27am Aug 19, 2021 3:27am
A futures broker eliminates this problem as the price is the price.
  • #59,319
  • Aug 19, 2021 3:31am Aug 19, 2021 3:31am
Quoting herewego
A futures broker eliminates this problem as the price is the price.
"Slippage occurs when the bid/ask spread changes between the time a market order is requested and the time an exchange or other market-maker executes the order. Slippage occurs in all market venues, including equities, bonds, currencies, and futures."
  • #59,320
  • Aug 19, 2021 3:35am Aug 19, 2021 3:35am
The bid/ask does not change when trading with an authorised futures broker as it is exchange fed. The bid/ask is fixed and does not alter.
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