Billytt Die happy trading e/j daily breakout

t 10-41 maybe cable might bounce back down around 13530.
I know the 50 is coming up.
I am not trading just chatting lol.

I have always found the Risk Reward thing misleading. That is not to say it can not be used.

Food for thought. Here is an interesting little graph from a backtest with an "inverse" risk reward; risk 1 reward 0.5 (yes I know it is a backtest in MT4 bla bla bla, but it is over 95% in line with my manual/actual live findings)

Just use the ignore button. I tried staying away till he was gone but it's no use, as he's not banned the smell just sticks around like shit on your shoe.

Ignore is best, then we don't cut off our nose to spite our face.

You are right... done!

lol .i need to look at the chart first. it was near 13530 approx 15 minutes previous. (But not close enough) lol

I cannot do it so I will bash everyone else who even appears that they can........... very tiresome listening to these children who think someone should tell them exactly what time to log on to their computer and exactly where to enter and exit so they can make 5% a month....
NOBODY OWES ANYONE ELSE JACK SH*T IN THIS WORLD.....
I have said a million times that even if someone had such a "method" I am pretty sure they wouldn't be here giving it away on FF


Rant Over

Nice words bud. Hope you are well. do i short yet lol

Been short

Hey Mucky,

You have always been one of the very sincere ones here. As i am not banned yet let me answer you.

Do you think that opening a counter position and hold a -15 Pips (or -15%) will make things any better? Often the setup range used to be even far more. I am not sure about the statistics according to the first 4 hours of the day Billy now seems to prefer trading as got "bored" by the BillyBar and the stats changed a bit.

Spoiler alert: The statistics didn't change at all. I still follow it myself. The statistics have been pretty much stayed the same if you look back for a longer period like for a few years. The win rate is pretty much the same as it always has been to hit the +5 on the first break for the last 1,5 years as it used to be before. I don't have exact numbers right now but somewhere between 60-70% on average counting in 3+ years.

On average 2 out of 5 days in a trading week you may get a fail on the first break. Yes some weeks you have no fails at all. It never worried me. What worries me is what you do with the not so good working weeks. For some days it gets worse and you then get whip/consolidation (or what they call it) and it won't hit the +5 target even after crossing the buy or sell trigger multiple times. There are days where it even crosses both ends several more times without ever reaching to a +5

So that is why I was interesting in hearing what would be the limit for a person like Billy to stop trading for the day and rather prefer protecting his remaining capital in his account before risk losing even more of it until the end of his trading day.

You could easily risk another -15% and already risk -30% in total for the day to hopefully make +5%. A third entry of same size/target you then would already risk -45%.

Now let's also say your setup range for the day is larger than a 15 Pips of your account balance (in case of a counter) to hopefully make the +5%. That's the first part of the story right?

So you then lock a floating loss of -30% that you risked for 1 single entry on your account to hopefully have it fixed with the remaining free margin of 70% available to you to hopefully then still end up at +5% target for the day until you stop? Hold it locked over the night and you even risk having added the negative swap to your position as well. It might be not much but probably it could become a problem and add up doing that for a second fail you then get a day later while carrying the locked in positions.

No word about slippage. So you maybe get filled 15 Pips AWAY from where you actually thought your order gets executed? Maybe it's not a common thing but still it could happen? Acting like a professional means you should be aware of this additional risk at least. So you then risk being down -15% more on a SINGLE entry than what you actually calculated with for your risk management.

It doesn't change the fact you maybe then trade 2,3 or 100 more accounts. Risking 15% is risking 15% no matter how much more good money you then throw at it?

I've never said that I am a fan of risk to reward as you never really know the reward side on any particular entry.

A magical all-round solution to all of this is. I "fix", compound, add without ever showing at least a few examples of how that would be realistically done in a month of trading. But you don't see this here even for a week. That is actually all I ever criticized.

Regarding to Fagin, Lem or who else might having a problem with me. I don't know what is your problem. I always tried to be objectively here and discuss basic trading facts. Isn't that a trading forum? You might just be a lot smarter than me and know it all better. It's okay. I am just very tired of the same inflated big ego words on a public forums for claiming people making a living from trading or even making 5 Pips every day like 99% of the times without ever even TRYING backing up these words.

I could even raise my offer to 10 BTC. I would not see anyone even trying to present me with a 3 month live track record having traded for a 5% daily goal on let's say a 100k funded account while keeping the overall drawdown somewhere realistic away from maybe blowing it up on a single slipped order having risked -50% even if that is "countered/locked". You still have to release this counter position at some time in the future right? And there is no guarantee price then won't retrace against you just another time at the moment you are actually exiting the negative counter.

I said i would be outta here. It's just something I still had to say. I am now taking a break, be happy. There were a few nice people having the balls to contact me in a direct way trying to help. At least I found out I don't seem to be a swing trader able to run positions multiple days, trade multiple different markets/assets and all that otherwise I am sure it could/would help.

@Billy. If you really able to make +5% a day by trading one simple setup trading the same one currency pair every day, I would be the first person sitting on the boat instead of spending my time here.

Feel free to ban me again that's okay for me. I just would like to say again I am no way negative about all this. It's just that I don't believe trading profitable just because I am smiling to the buddha statue in my room 24h a day having lit some scented candles...

Peace.

which pair

EURUSD since 1.1477...adding on the way down

you do know i am joking.lol .... i was finished for the day ages ago.

you will find a lot of the people who fail use the risk reward .
Ideal world that is what they should do, but it is Forex.

You may actually have a nice profit but if it isnt at your risk reward limit, 1/1 1/2 1/3 etc you can lose it.
With my 5 point , my stats are for 10 points, but i half it to get better odds.

i am currently learning NIB by Black Sabbath on the drums. Off their 1st album.

its a bit tricky, i have the co ordination of a dead badger lol. syncopation with drums.
Teacher reckons i'll do it. yeah right.
Actually i am getting there.

For the trend people. Where is the trend? GBP/USD is moving in a 150 Pips range since beginning this month. Up and down some all over the chart. Large wicks on both sides of most of the candles.

For my setup (the first 1 hour of the london session) the range started to get far bigger for the last 2 days than it used to be in any of the days before.

Today 44,5 Pips is the range to me. It broke/touched the low first and failed to go anywhere. It then broke the high and failed to reach to the +15 Pips target again. It went +7 so even the +8 Pips move SL to break even +1 would have failed.

I am still short with some orders without stop loss as its only -8 bucks so who cares right... Definitely not trading for a living hah.

Anyway.

t 16-54 cable dailyjust copied.

This could be a classic Claudia trade, we have consolidation for a week, and trade the break.
todays bar has dropped and maybe this is the trigger.
i am not sure if it is wise to trade off the lowest or highest point as opposed to the actual body.
t 16-56

Need to come up with harder questions...that was an easy one.

Hey Swing. Hope you are fine. Oh that's great, now I feel a bit more secure about my short entries. The lower high you marked is still about 70 pips away giving me some room until i might finally punch out. I guess if we see price touching that lower high the downtrend would then be no longer valid? What exactly would make it no longer valid. It could be a touch of price there from the lowest time frame, a close of the candle on the time frame watched (h1). A close on the candle on the Daily, a touch on the Weekly or maybe we have to wait a close above that level on the Monthly until we finally can say this is no longer a downtrend? Hm.

I would be losing 170 Pips on 0.05 lots. Having risked 170 Pips on a 1:2 risk:reward assumption, i guess my target should be at least +370 Pips lower from here. I will move my TP there. Lets's see if and when price might get there. My crystal ball is telling me that due to the pandemic situation, the overall situation and the situation in the near east it should definitely lead to lower prices soon...

Try studying this - ive found this to be one of the better explanations/tutorials out there

https://www.tradingview.com/chart/GB...Trends-Ranges/