Billytt Die happy trading e/j daily breakout | Page 3014 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #60,261
  • Jan 20, 2022 4:01am Jan 20, 2022 4:01am
t 10-00 todays trading.
let us say, grass grown and paint dry. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,262
  • Jan 20, 2022 4:34am Jan 20, 2022 4:34am
Quoting billytt
t 10-00 todays trading. let us say, grass grown and paint dry. lol
It's like watching the grass grow. What you can do? Don't watch it. I was in the kitchen and had some coffee now I came back and had a second look. Actually I shouldn't look at all and instead let my orders play out hitting TP or SL?

Now in today's example you can be glad to have used a buffer so the first attempt (i guess thats the market markets tying to trap you...) would have failed, it just came there to touch the high and went the other direction. What you can do about this? Probably nothing.

You place a line your line gets broken and your order activated, there is nothing you can do anymore. You could have analyzed the shit out of everything in advance for sure why or why not place that line and still end up with no better situation of knowing what will happen next.

So again in my case. I would have been -15 Pips booked as first loss for today, now went short for the second time/order to hopefully make up for that reaching a +15 Pips on the short side, but so far that didn't happen.

Time in the UK 10:34 (11:34 my local time). Going to drink some more coffee.

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  • #60,263
  • Jan 20, 2022 4:44am Jan 20, 2022 4:44am
Something not even discussed. What to do if there is something like a higher impact news event announced to happen later the day and you got triggered into a position earlier the day where things are then just not moving to reach your sl or tp and instead just keeping you in the trade and idling around for up and down some.

So you can do only two things again, exiting the trade manually even if that could mean booking a floating loss at that time or you can do nothing and trust having your stop loss order placed to be hopefully not executed with any bad extra slippage on such sudden volatile news spike.

10:47. I am currently up 2.7 Pips and the trade is already on for about an hour.

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  • #60,264
  • Jan 20, 2022 5:02am Jan 20, 2022 5:02am
High Impact news can actually help you.
News can kill you if you have a stop.

I will keep clear of news sometimes but im a counter trader, ill always get out of trouble.
t 11-02
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,265
  • Jan 20, 2022 5:18am Jan 20, 2022 5:18am
Quoting billytt
High Impact news can actually help you. News can kill you if you have a stop. I will keep clear of news sometimes but im a counter trader, ill always get out of trouble. t 11-02
Thanks Billy. Yes it can help, definitely. My worries are more about the things I can control on my own in advance, like limiting or eliminating unnecessary risk.

I don't mean not to trade at all. I accept there is no 100% risk guarantee in something going by the name of speculation.

Yes thats where counter orders could probably be an advantage over regular market stop orders but these could be still affected by slippage unless you place them as limit orders but then also risk of a loss getting bigger or a entry not getting filled at all right.

Time: 11:15. I am currently +5 and watching price not even reaching my break even point at +8 Pips to move the SL while watching it "move" for now already much over an hour.

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Edit, 11:23. Price reached to the break even point of +8 and my SL now moved to +1. So at least it shouldn't become a losing day from here. I won't be doing a second order even if it would then break the high of my range again and either be done with +1 or +15 for today.

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  • #60,266
  • Jan 20, 2022 5:48am Jan 20, 2022 5:48am
It's moving so slow i decided to alter my plan for today and moved SL to +5 now as it already came to +10.

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Edit 11:53. The +15 with taking the short at the actual low trigger would have been achieved by now. Anyways I used a buffer.

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Edit. 11:56. Looking good.

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  • #60,267
  • Jan 20, 2022 6:03am Jan 20, 2022 6:03am
I am done. +15 reached. So 2 x +15 for yesterday and today. Lucky I wasn't triggered for the long today. The short would have still fixed for it so at worse my day should have been ended in having paid for the spread and commission.

I closed the trading platform. No more watching boring charts for today and do something more valuable with the limited life time we all have.

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  • #60,268
  • Jan 20, 2022 9:33am Jan 20, 2022 9:33am
i took long the 04-00 4 hour bar break for -14, then +16 and +5 on the short side. so +7 for the day;-)
trading is like dancing, don't think and just listen to the music!
  • #60,269
  • Jan 20, 2022 10:52am Jan 20, 2022 10:52am
Yesterday's 70 reached
  • #60,270
  • Jan 20, 2022 11:42am Jan 20, 2022 11:42am
Quoting Fagin
Yesterday's 70 reached
... my broker offers only 62,4 pips (high -low) today :-)
but yesterday's low & today's high - you are right :-)
  • #60,271
  • Jan 21, 2022 12:19am Jan 21, 2022 12:19am
Hi all.
cable chart copied a few minutes ago.

i have already put 2 black 70 range lines on the highest high/low.
These lines will be adjusted as price breaks the highest high/low.
Attached Image (click to enlarge)
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,272
  • Jan 21, 2022 12:27am Jan 21, 2022 12:27am
yesterday was really odd, we got the 70 range, (approx 75)
i started off by trading off the 04-00 4 hour bar, then had fun .
i noticed the Billy bar high had a fail so i shorted it lol, <<<<<<<i had odds then of it dropping which it did.

bagged some points then up it went. ( this was really an opportunist trade. like i said, i haven't traded the billy bar for a long time.
then the 12-00 4 hour bar went long and all my troubles where sorted. lol
Trade well all.
06-27
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,273
  • Jan 21, 2022 12:44am Jan 21, 2022 12:44am
story time..........
i speak of this imaginary 70 range with cable. It could be any other pair even dax and nifty 50. ( but with a different imaginary range.

years ago, i used to post my average daily range in here, and i would say quote, i would make it a modest range to trade with,


So if the actual average daily range for cable was 110, i might of said my modest daily range is 90 or maybe 80.
now a days i just say 70 lol. and go for.
i am not actually chasing the actual number, but it is knowing you have good odds of it happening.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,274
  • Jan 21, 2022 12:48am Jan 21, 2022 12:48am
more story, wake up Mr T lol.

this 70 range or actual average daily range.
see how it moves regarding a 50 or 00 area, even support /resistance areas.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,275
  • Jan 21, 2022 12:55am Jan 21, 2022 12:55am
Quoting billytt
story time.......... i speak of this imaginary 70 range with cable. It could be any other pair even dax and nifty 50. ( but with a different imaginary range. years ago, i used to post my average daily range in here, and i would say quote, i would make it a modest range to trade with, So if the actual average daily range for cable was 110, i might of said my modest daily range is 90 or maybe 80. now a days i just say 70 lol. and go for. i am not actually chasing the actual number, but it is knowing you have good odds of it happening.....
is a good use of words and explains well the meaning behind it
trading is like dancing, don't think and just listen to the music!
  • #60,276
  • Jan 21, 2022 1:21am Jan 21, 2022 1:21am
Quoting birdland
{quote} is a good use of words and explains well the meaning behind it
thanks bud.
i used to say modest range every day.
when i was trading the billy bar, i was always after 5 points/pips. i didn't need more.

only time i needed more is when i was fixing a bad trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,277
  • Jan 21, 2022 2:08am Jan 21, 2022 2:08am
t 08-06 cable chart just copied.

i have adjusted the 70 range black line for High Range , placed at the lowest low. the other black line did nor need changing.
i will show first chart from earlier, below.
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and the adjusted chart below.
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i am short,
t 08-08

edit, ignore the horizontal lines, i have a bot running.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,278
  • Jan 21, 2022 2:20am Jan 21, 2022 2:20am
t 08-17
cable chart just copied.

Just supposing cable does retrace up, and we decide to trade off the high of the 00-00 4 hour bar 1, or 4 hour bar 2 we can see that the H High level is an area were we could aim for.
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obviously this is ,if it changes soon.

if price drops we adjust the high range.

i am actually finished for the day/week now.
Trade well all.
t 08-20
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,279
  • Jan 21, 2022 2:28am Jan 21, 2022 2:28am
Quoting billytt
t 08-17 cable chart just copied. Just supposing cable does retrace up, and we decide to trade off the high of the 00-00 4 hour bar 1, or 4 hour bar 2 we can see that the H High level is an area were we could aim for. {image} obviously this is ,if it changes soon. if price drops we adjust the high range. i am actually finished for the day/week now. Trade well all. t 08-20
i took the 00-00 4h break for +6, i am also finished todays trading.
trading is like dancing, don't think and just listen to the music!
  • #60,280
  • Jan 21, 2022 2:37am Jan 21, 2022 2:37am
t 08-36
cable, slight chance cable might get to the 00-00 4 hour bar low. (black line and bounce down. maybe
just saying
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t - 08-37
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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