Billytt Die happy trading e/j daily breakout | Page 2978 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #59,541
  • Sep 6, 2021 3:15am Sep 6, 2021 3:15am
Not trading today but here are charts of the FTSE and DAX.

FTSE = 7:45am 15 minute bar.

DAX = both 6:45am and 7:45am 15 minute bars.
Out of curiosity take a look at the one minute on both as execution points ( charts not shown)

Maybe worth pursuing?

What about the "wick zone?" - I hear Lem whisper
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every Saint has a past. Every Sinner has a Future
  • #59,542
  • Sep 6, 2021 10:11am Sep 6, 2021 10:11am
First entry on the new 10k FTMO trial that i started has been a win. The bad thing, no strategy behind and no SL. After i noticed a quiet compressing range for GBP/USD about an hour ago i drawn a box and placed a buy/sell stop above/below with a fixed 10 TP SL. I think I should have at least placed a -10 Pips SL as well.

The basic plan without any kind of real strategy in place is to make at least a $50/day after spread/com and hopefully not exceeding the max. daily drawdown limit of 5% while hitting the 5% profit target for 10 days (10 days x 0,5% = 5%). If the first trade will be a winner and reached my min. profit target for the day i will call it a day otherwise i keep entering if i see a chance.

Day 1 = 1 trade, +$87,00 +0,87%, max. drawdown = -0,12%

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So i am done for today with trading. The BillyBar this morning looks like it was a fail after price first broke the high of the range and failed to reach the min. +5 Pips TP. Then the following low break failed too to hit the +5. So a double fail in my case (if doing martin gale). The third time it then touched the low again it looks like at least it would have delivered the +5 TP. A barely 9 Pips it looks it reached after the third break before traveling back to the opposite end of the range again acting as the SL.
  • #59,543
  • Sep 6, 2021 12:30pm Sep 6, 2021 12:30pm
Quoting lddd
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...
Hello Iddd,

this, may be useful :-)

https://www.forexfactory.com/thread/...9#post12640669

Mucky
  • #59,544
  • Sep 6, 2021 6:05pm Sep 6, 2021 6:05pm
Quoting Mucky
{quote} Hello Iddd, this, may be useful :-) https://www.forexfactory.com/thread/...9#post12640669 Mucky
Hello Mucky. Thanks.

I think I've stumbled across this one before but i tested it again. For me it's not boxing the BillyBar setup correctly from the high to low of the M15 candle / range and if you switch to a lower or higher time frame it looks different again. It should stay the same no matter the time frame. So when i switch to M5 or H1 after the range established for the defined start to end time the box/lines will stay at the correct levels.

There is no option to show multiple TP and a SL level and no option to show the size of the range in Pips. You can define 1 TP and an offset at least, so thats a plus point for the indicator but still would't come close to what i would like to end up with.

BreakOut-EAGLE_indicator.mq4
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That's what i would like to have it look
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  • #59,545
  • Sep 7, 2021 6:08am Sep 7, 2021 6:08am
Having an ea coded for breakouts - if anyone one wants to help test then pm me with an email address. Be around 10-12 days.

It's very simple and is aimed at market opening breaks - nothing new and there are lots out there but this is slightly different. Need MT4.
  • #59,546
  • Sep 7, 2021 6:20am Sep 7, 2021 6:20am
FTSE 7:45am bar - Not so good today? Needed a calm mind and method ( A "Lem shuffle" maybe :-)
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every Saint has a past. Every Sinner has a Future
  • #59,547
  • Sep 7, 2021 6:26am Sep 7, 2021 6:26am
Quoting turnip15
FTSE 7:45am bar - Not so good today? Needed a calm mind and method ( A "Lem shuffle" maybe :-) {image}
Watch the US 30 open in 35 minutes
  • #59,548
  • Sep 7, 2021 7:29am Sep 7, 2021 7:29am
Quoting claudia1
{quote} Watch the US 30 open in 35 minutes
Very nice Claudia
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every Saint has a past. Every Sinner has a Future
  • #59,549
  • Sep 7, 2021 7:40am Sep 7, 2021 7:40am
Quoting turnip15
{quote} Very nice Claudia {image}
Be brave. Apply the same strategy to London close being the 15.45 - 16.00 bar break. Worth a look.
  • #59,550
  • Sep 7, 2021 7:45am Sep 7, 2021 7:45am
Quoting claudia1
{quote} Be brave. Apply the same strategy to London close being the 15.45 - 16.00 bar break. Worth a look.
Like Mrs T you seem to find me extra "jobs" to do

Dow - more research for me then
every Saint has a past. Every Sinner has a Future
  • #59,551
  • Sep 7, 2021 7:55am Sep 7, 2021 7:55am
BillyBar break for the +5 was good today. Shame i missed it.

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  • #59,552
  • Sep 7, 2021 7:57am Sep 7, 2021 7:57am
Quoting claudia1
{quote} Be brave. Apply the same strategy to London close being the 15.45 - 16.00 bar break. Worth a look.
A quick look at six past bars indicates that the smaller that 15 minute bar the better the chance of profit? A couple of bars were quite wide ( over 45 pips) and albeit they came out winners -the draw down might hurt thus causing the trader to pull out and suffer a loser. Anyway, back to the Dow for me for now on my usual chart.
Will look back further later re the 15 minute bar.
every Saint has a past. Every Sinner has a Future
  • #59,553
  • Sep 7, 2021 8:01am Sep 7, 2021 8:01am
Quoting turnip15
{quote} Like Mrs T you seem to find me extra "jobs" to do Dow - more research for me then
Go wash the car !!
  • #59,554
  • Sep 7, 2021 9:21am Sep 7, 2021 9:21am
Quoting turnip15
FTSE 7:45am bar - Not so good today? Needed a calm mind and method ( A "Lem shuffle" maybe :-) {image}
To me it looks like this for NTBB on FTSE today.

Range of the 07:45-08:00 NTBB = 5,5 Pips.

Price touched/broke both ends of the range for the M1 candle marked by the red vertical line on my chart.

How do i see if the high was broken first or the low with MT4 having M1 as the lowest period?

So i probably would have triggered into a hedge. One buy triggered at the high, one sell triggered at the low.

Lets assume in somehow was able to not get filled into a buy order here then the suggested TP of 20 Pips by Claudia was barely reached around 11:30 UK time (2 hours later my chart/broker's time). Counting in the spread the 20 Pips TP probably wouldn't got triggered for me and missed out by 1-2 Pips instead.

Price then came back up during the day so far but still never touched a 10 Pips stop loss so far i would have placed on the low break short entry. So a lot of time to at least take some profit after price didn't reach the TP. But then you still have the buy order that would have triggered too, so...

Hope i interpreted it correctly.

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  • #59,555
  • Sep 7, 2021 9:27am Sep 7, 2021 9:27am
Quoting claudia1
{quote} Go wash the car !!
Mind reader !!
Mrs T has me scheduled to wash the car later. It seems she was not impressed by the cat paw marks that begin on the bonnet and end on the boot of the car
( Including a few paw prints on the dusty rear window). On another note: The Dow did well today - trended well.
every Saint has a past. Every Sinner has a Future
  • #59,556
  • Sep 7, 2021 9:28am Sep 7, 2021 9:28am
Quoting claudia1
{quote} Go wash the car !!
Attached Image
  • #59,557
  • Sep 7, 2021 9:44am Sep 7, 2021 9:44am
GU is doing it's thing again with me if trying to trade what i think to see (Trade what you see they all say...)

Bought around 1.37810, then bought some more around 15 Pips later after i was already in profit on the first order (scaling in, adding...) and then moved away from the screen to get a coffee. I came back and boom south it went again :/

So that is me if trying to make money based on my own observations and looking for anything more than a 5 Pips as a target. I get usually chopped to death.

The basic idea behind my entries were to buy low after price for me seemed to was "exhausted" and i was "hoping" to see some decent move up again from there.

I think all that discretionary trading based on what i think to see and not following any clear repeatable setup/strategy for specific times of of the day is a total disaster. Especially in such markets on a lower timeframe where you then get whipsawed by the price action and having taken out your -10,-20 or even 30 Pips stop losses several times in a row before you ever reached any 1:2 or even 1:1 TP.

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Edit, up it goes again? So that's what i mean. It's a total mess/chop for 90% of the time. You can't even have 2 M15 candles of same color before the hole swing/move already collapses it it self again. At least my SL placed at the recent "swing low" so far held.

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  • #59,558
  • Sep 7, 2021 10:18am Sep 7, 2021 10:18am
Quoting claudia1
{quote} Have a read of the attached might give some ideas on pivot trading. Worth taking the time - it's not a 5 minute read there's 300 + pages but I promise you will learn. {image}
Probably one of the best pivot books out there. Worth the time to read.
Plan, Prepare, Execute, Repeat
  • #59,559
  • Sep 7, 2021 11:38am Sep 7, 2021 11:38am
Quoting claudia1
{quote} Be brave. Apply the same strategy to London close being the 15.45 - 16.00 bar break. Worth a look.
Claudia -here is the chart - hopefully I have drawn it correctly:Not looked at other days yet.
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every Saint has a past. Every Sinner has a Future
  • #59,560
  • Sep 7, 2021 11:54am Sep 7, 2021 11:54am
Quoting turnip15
{quote} Claudia -here is the chart - hopefully I have drawn it correctly:Not looked at other days yet. {image}
This may help visually with manual backtesting
Attached File(s)
File Type: ex4 Sessions.ex4   14 KB | 232 downloads
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