Billytt Die happy trading e/j daily breakout

Was just on the free trial was having some fun. Will go the proper one next week - it shouldn't be too difficult if you don't over trade. I don't normally use stops but for this I think you need to.

Lem - have a look at Ascot 16.10 (handicap) if you get time. You'll see what I'm going for straight away. Has CD and won last time out. Currently 4/1.

FTSE 7:45 bar

Would have won both ways - but difficult to trade that opening bar. Be automated very soon.

From what I have seen regarding FTMO it looks as if the risk management is under control it is very feasable.

Agree - it's all about money management with them.

Hope all goes well and keep the fun going!

Thanks ...

NFP in a couple of hours. Not as fun as it used to be but will see some movement no doubt. Be careful !

Off to the garden centre with Mrs T - Fish and Chips day !!

BillyBar. A range under 10 again and the low break failed to reach to the +5. The following high break then was good for a +7.

Not sure what is wrong but there seems to be something fundamental. Big indecision or so. But i guess the WHY something happens shouldn't bother me as a trader right. Can't change it anyways only somehow try to have a plan for all this.

Maybe not entering for a day with a range less than 15 Pips for now would be the best to avoid too many fails, then go swimming on such day and shut down the trading platform again right away.

For fixing a la taking the second or third break for more pips or either at increased trade size its deterrent.

27 Pips range so far.

Good idea - think I'll have a fish and chip evening now you mentioned it.

Have a look at the US 30 chart at the opening break. That would have been fun to trade - obviously influenced by NFP. Did ok on cable with NFP orders both sides. Caught me out going down due to spread but more than made up for going the other way.

Yes.

I basically try to find a set and forget approach for my self but just in a much smaller time frame so i will be flat by the end of a trading day.

Have a good weekend and good luck to you too. I am out in the sun now. Will do some backtesting on Sunday and test some more ideas on/around the BillyBar. I also want to collect statistics for August.

A nice early finish to the day here as all now flat, and as a bonus no trading for me on Labour day. Until Tuesday, have a nice weekend all.

Check out what i mentioned, range 07:45-11:00 (UK Time) buy/sell the break as soon as price touches the high/low. Far less whipsaw/chop/"fake outs".



I am not sure yet regarding a SL/TP. The success rate of making a quick buck like 5-10 Pips however seems to be excellent.

For the short time span i tested this it looks even far better to me than the BillyBar and GBP/USD. That market seems to move instead of Forex.

The range can be huge however. Maybe setting a SL at the opposite end of the range as a emergency stop loss but getting out far earlier. Maybe getting out as soon as 2-3 M5 bars closed against you before hitting these 5-10 Pips after entry could be a way. I looked that up for 1-2 month and it looked good to me. Or leaving the SL at the opposite end of the range but then targeting 1, 1.5, 2 R instead, so your profitable trades will take care of the losses on its own. I think the success rate here would be still good enough to end up net profitable like that but haven't tested it in depth so far.

Billy last seen in the New Forest... apparently he went shroom picking for his omelette and picked up the wrong ones..

Worth watching $ index on weekly. Approaching a big

support level

Hey Claudia and all others. I hope you had a nice sunday so far.

Still haven't found any good breakout box/lines indicator for Meta Trader 4 platform that is able to plot a box or lines for a custom defined range from high to low price and start to end time. I searched again for 2 hours today and all i found is terrible. So i am probably going to contact Ferru soon to get one developed for my self. If you like to add some ideas to it let me know.

I so far have on my list:

- Plot a shaded box from the high to low price of a custom defined range from start hour/min - end hour/min.
- Plot two horizontal lines from the high to low price of a custom defined range from start hour/min - end hour/min.
- Show the size of the range in points/pips (optional = activate/deactivate)
- Show prices next to high/low. (optional = activate/deactivate)
- Show a buffer/offset defined in points/pips above/below the range box/lines. (optional = activate/deactivate)
- Show up to five different take profit and stop loss levels above/below the range box/lines. (optional = activate/deactivate)
- Show box/lines for x last days.
- Ability to customize the look and feel as much as possible for all the information printed on the chart by the indicator (font, size, colors, position etc.)

That would only be for an MT4 indicator. In a next step it might be possible to get an Expert Advisor designed for around these breakout ideas following a specific set of simple entry/exit rules or even further conditional logic added like a custom trailing stop, take profit or even a martin gale approach. But what ever such EA should look like in the end it should be 99% accurate and offer a solution for all the real trading conditions that could occur too. So like a control of spread, slippage, gaps etc.

I probably still wouldn't trust such EA because just too many things could go horrible wrong but for backtesting purposes only and to see if one of the ideas could provide a technical "edge" it could be a time saver for me than having to scroll back charts manually.

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