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Billytt Die happy trading e/j daily breakout

  • #59,441
  • Aug 29, 2021 7:34am Aug 29, 2021 7:34am
Quoting soccerfan
{quote} Good luck with Celtic....a draw better than a loss I suppose..!! Saw this at my local Council tip..yikes {image}
Is that not just Australia in general?!
  • #59,442
  • Aug 29, 2021 7:36am Aug 29, 2021 7:36am
Quoting claudia1
Lem - Goodwood again. Hayley has an interesting ride at 13/2 I'll have an ew. Gosden has a good chance in the race after (handicap).
I'm out and about, so won't have a chance to look, unfortunately. Good luck.
  • #59,443
  • Aug 29, 2021 11:23am Aug 29, 2021 11:23am
Quoting claudia1
{quote} Try applying the Billy Bar method on EUR/USD (08.00 to 08.15 UK). I see you are looking for an advisor for this sort of trade. If you find one post it here. I got an hour or two to spare I'll have a search - if not maybe get Ferru to code one. Edit: Can't find exactly what I want so will get it done to my specification - see the pdf and please make any suggestions before I contact the programmer. Could be up and running next week. I want to keep it very very simple. I'll use it on FTSE and maybe NTBB. Lem is this starting to look like SSBO...
Thanks Claudia. I will have to read through your post again later. I'm surprisingly busy for a Sunday. But yes, i am looking for a simple indicator that is able to highlight these breakout setups to me based on a few criteria. The ones i so far found are either over-complicated or do lack certain but important details for me.

I wrote about what i try to come up with here -> https://www.forexfactory.com/thread/...6#post13685536

Looks like i will have to get the job done by someone. Ferru was also recommended to me a year ago where i was already looking for something similar but so far it never left the drawing board.

An expert advisor that is also able to even execute trades would be nice to have too. However i do not trust MT4 and these automated experts so much, so they would probably never run for me on a live account anyways. But for backtesting purposes and to get some data/statistics alone this would be great to have. But even here they should at least deliver accurate results otherwise it wouldn't make much sense to get automated results but the data could be flawed.

I was testing the one EA that ia1979 provided some time ago to test out trading the NTBB for FTSE. But there used to be certain issues with it such as the expert wouldn't pay attention to a gap in price while orders got triggered and so i nearly always got slipped for the trades the EA placed or they would have opened to early, sometimes too late. For some days no trades were opened by the EA at all even after all entry conditions were met.

I then also looked for similar range breakout experts. There are a few commercial ones that i haven't tested yet but i guess they wouldn't satisfy me too. I might be too demanding here hehe.

Will check out EUR/USD for the BillyBar too. I still believe the main issue for me here is finding a systematic way to fix for the fails too otherwise based on the pure risk/reward factor all these setups no matter what pairs i so far looked them up will somehow be net unprofitable at the end of a month without having the losses either reduced drastically somehow or get out more on the winners OR, well have them "fixed" somehow magically

my best regards,
Roman.
  • #59,444
  • Aug 29, 2021 11:45am Aug 29, 2021 11:45am
Quoting lddd
{quote} Thanks Claudia. I will have to read through your post again later. I'm surprisingly busy for a Sunday. But yes, i am looking for a simple indicator that is able to highlight these breakout setups to me based on a few criteria. The ones i so far found are either over-complicated or do lack certain but important details for me. I wrote about what i try to come up with here -> https://www.forexfactory.com/thread/...6#post13685536 Looks like i will have to get the job done by someone. Ferru was also recommended to me a year...
Hi - just have a read of my very simple specification and add any ideas. Ferru (Eric) has done work for me before. It will not be an indicator just an ea.

I will of course post the finished product - what I don't want is people asking for changes. Get it right first time.

Anyone else interested please post ideas. I'm going to start things moving on Wednesday.
  • #59,445
  • Edited 4:06pm Aug 29, 2021 2:33pm | Edited 4:06pm
Quoting lemercenaire
{quote} Is that not just Australia in general?!
Where City meets Country & when Spring is arriving,
They like to sun bathe after a cold night, so I watch out on my early ride, run or walk...!!
Not usually aggressive, they flee as soon as you see them... hopefully..!!
Cheers..
Onwards and upwards...
  • #59,446
  • Aug 30, 2021 1:02am Aug 30, 2021 1:02am
Quoting claudia1
{quote} Good to see you back. We are still here apart from Billy who is awol. Lem has it right the gnomes have got him finally.
Unsure what "back" means here ... lol ... I have not made a trade for a year or so, setting up an investment plan with ETFs is all I have done so far ... maybe I have 1-2 hours a day for trading, but in illiquid times. And I do not quite make it to the daily NY close due to need for sleep after the usual 9-10 hours at the work desk lol
Fix up, trade sharp ...
  • #59,447
  • Aug 30, 2021 2:48am Aug 30, 2021 2:48am
Claudia, Iddd etc.......This may be worth a play around with. Just remember that it only takes trades on the close of the candle depending on which timeframe you are on.
Attached File(s)
File Type: ex4 SessionBO_EA_v1.1_comments.ex4   82 KB | 188 downloads
  • #59,448
  • Aug 30, 2021 4:00am Aug 30, 2021 4:00am
Quoting lemercenaire
{quote} I thought this was Mr-T! {image}
Undercover writer ?
Attached Image
every Saint has a past. Every Sinner has a Future
  • #59,449
  • Aug 30, 2021 4:12am Aug 30, 2021 4:12am
Quoting turnip15
{quote} Undercover writer ? {image}
He's been missing since June 29 - two months.
  • #59,450
  • Aug 30, 2021 6:39am Aug 30, 2021 6:39am
Quoting claudia1
{quote} He's been missing since June 29 - two months.
Hmmm.....has he been jailed for some un-gnome crime maybe ?

Vital witness found !
Attached Image
every Saint has a past. Every Sinner has a Future
  • #59,451
  • Aug 30, 2021 2:28pm Aug 30, 2021 2:28pm
Quoting herewego
Claudia, Iddd etc.......This may be worth a play around with. Just remember that it only takes trades on the close of the candle depending on which timeframe you are on. {file}
Thanks for sharing. Currently don't have the time to look at it but will hopefully do so during the week.

I am trying to find out how i would be be able to avoid slippage on my entries with MT4. I so far always thought that using the Deviation setting (Options --> Trade) could be used but it seems not. If let's say i input 0,5 there and the spread is 1 Pips at the moment i execute the trade it will still be executed. So it doesn't seem to make an impact and protect me in this case.

Also the limit orders MT4 provides seem to be no real limit orders and will be still be treated as market orders once triggered. So even if deciding to do my entries with such limit order i could still end up getting slipped for x unlimited amount. Also for trading breakouts this is no optimal solution as you then need price to come back first before a order would be triggered at the limit price in case of a buy.

Just took a quick glance at the BillyBar for today. A 41 daily range for GU again? Oha. The +5 from the actual low break for me was made but including the spread i would probably been stopped out today. Good i wasn't there. I know there were GBP Bank Holidays but i still wonder about these low volatile days. I start to understand people that are saying that day trading is dead having ranges like these for most days. Any profit target more than a few pips and you most likely have to keep trades opened for days to reach it.

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I had a person writing me here to look at indices and futures because they might be easier to trade for my sort of trading style. Still not sure about all that so i will stick to the BillyBar setup so far. Constantly jumping strategies and markets seems to be no good idea to become consistent in something.

Hope you all had a good day.
  • #59,452
  • Aug 30, 2021 11:46pm Aug 30, 2021 11:46pm
Quoting lddd
{quote} Thanks for sharing. Currently don't have the time to look at it but will hopefully do so during the week. I am trying to find out how i would be be able to avoid slippage on my entries with MT4. I so far always thought that using the Deviation setting (Options --> Trade) could be used but it seems not. If let's say i input 0,5 there and the spread is 1 Pips at the moment i execute the trade it will still be executed. So it doesn't seem to make an impact and protect me in this case. Also the limit orders MT4 provides seem to be no real limit...
I think its important to remember that slippage can work to your advantage too, as in when your TP is slipped to a price greater than you specified.
I really wouldnt get too hung up on it. Try to think of it in the terms of running a shop, shoplifting will unfortunetely happen but its just a cost of doing business.
  • #59,453
  • Aug 31, 2021 12:29am Aug 31, 2021 12:29am
BillyBar, the low broke and i am already down -5. Range is 10.3. Let's see.

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Edit, doesn't looks to good, but lets see.

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  • #59,454
  • Aug 31, 2021 12:30am Aug 31, 2021 12:30am
Quoting herewego
{quote} I think its important to remember that slippage can work to your advantage too, as in when your TP is slipped to a price greater than you specified. I really wouldnt get too hung up on it. Try to think of it in the terms of running a shop, shoplifting will unfortunetely happen but its just a cost of doing business.

Well yes, but last time i had a slippage of 14 Pips and the size i would like to trade that would mean $1400 for nothing. I am not a millionaire.
  • #59,455
  • Aug 31, 2021 12:42am Aug 31, 2021 12:42am
The usual crap. You enter a trade and it instantly moves against you then starts to range. Almost stopped out, respectively "locked".

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It's my second FTMO trade and i think if that one will go against me it already becomes hard to pass until 6th Sept. First trade was a win of +5.
  • #59,456
  • Edited 1:56am Aug 31, 2021 1:06am | Edited 1:56am
Oh nice. The short did hit the TP while the BUY got triggered too. Oh man, i think i shall give up

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Then you get whipsawed on the revenge entry. It's like they know what you are doing before you doing it. You have a nice bullish M15 bar you go long, boom

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  • #59,457
  • Aug 31, 2021 2:00am Aug 31, 2021 2:00am
"Then you get whipsawed on the revenge entry. It's like they know what you are doing before you doing it. You have a nice bullish M15 bar you go long, boom "

Retail traders are easy prey
  • #59,458
  • Aug 31, 2021 2:06am Aug 31, 2021 2:06am
FTSE still playing
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  • #59,459
  • Aug 31, 2021 2:08am Aug 31, 2021 2:08am
Quoting claudia1
FTSE still playing {image}
Oops wrong chart ..
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  • #59,460
  • Edited 2:28am Aug 31, 2021 2:18am | Edited 2:28am
Quoting herewego
"Then you get whipsawed on the revenge entry. It's like they know what you are doing before you doing it. You have a nice bullish M15 bar you go long, boom " Retail traders are easy prey
That helps enormously to know...

Here we are Pivots. They also giving contradicting signals again for me. Still would have no idea how to build a repeating strategy on that. The hardest part here seems to be timing. If you don't want to sit on front of the chart all day you never know when these levels will be approached by price so you never know when to act on!?

Secondly, the successrate with the Pivot Points alone from a intraday perspective seems to be quiet low. I haven't yet found one month on GBP/USD were entering only long/short after such Pivot signal would have worked out any better than a 50%. So you might need to add all kind of extra crap again to it like adding a 3 more indicators or "read" the market structure/context correct.

Anyways. Probably it's just me and everyone else is winning.

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