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Billytt Die happy trading e/j daily breakout

  • #60,781
  • Feb 17, 2022 9:35am Feb 17, 2022 9:35am
Quoting TooSlow
{quote} {image} Was on this broker.
Hi TS, my 04-00 4 hour bar was just an outside bar, the high was a prob point 8 above lol. Still an OB.
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,782
  • Feb 17, 2022 9:36am Feb 17, 2022 9:36am
Quoting billytt
t 14-33 Sorted. It wasn't as easy as it looks, i ended up trading off the 15 minute bar high break and closing when it dropped a couple, then repeat. Daily range is just over 80, i was done a while ago. {image}
i lied, i also played my 40 / 60 game.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,783
  • Feb 17, 2022 10:54am Feb 17, 2022 10:54am
Quoting billytt
{quote} i lied, i also played my 40 / 60 game.
Ahhh not another one for me to work out?!

What about the 50 as well??!
  • #60,784
  • Feb 17, 2022 11:56am Feb 17, 2022 11:56am
Quoting Fagin
{quote} Ahhh not another one for me to work out?! What about the 50 as well??!
LOL. I'm on my mobile so hard to explain.
Use 50 if you want.
This is similar to how my bot works. (similar).
We have open at 00-00, if it drops, short at 40, or if it goes up 40 go long. So it's gone long and makes 40 so we are long. If it then drops we short at 40 points from the highest high or vice versa. We are hunting the daily range. At the moment cable isn't stable, ie, 50, 60 ranges.
Its up to you how you deal with money management.
I use 40 if a short range might happen. I use 60 when we have usual range of 100/120+.
It works, but I use this as a fix. (sometimes).
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,785
  • Edited 12:20pm Feb 17, 2022 12:00pm | Edited 12:20pm
Quoting swingtrade65
{quote} Need to come up with harder questions...that was an easy one. {image}
So the downtrend is now over? We had a H1 candle closing above the trend line. For sure I could have drawn this trend line in a total different way, connecting different historical swing levels on the chart. Maybe zooming out even more or switching time frames this would be no longer even a downtrend.

I am -200 Pips. Still sticking to my shorts as this is only worth a pair of shoes, let's see if and when its turning back again. Finest trading lol.

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Edit. I zoomed out a bit more and drawn another line to make it fit two other swings. As price is now still below this new added trend line it's giving me new hope we are actually still in a downtrend. I will add some more short positions.

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My logical newbie conclusion to this trend following stuff is this. You see the trend if the trend is over and it by no mean helps you to enter in direction of the trend if this trend at the point you decide to finally place the order starts to turn the other way...
  • #60,786
  • Feb 17, 2022 12:10pm Feb 17, 2022 12:10pm
Quoting billytt
{quote} LOL. I'm on my mobile so hard to explain. Use 50 if you want. This is similar to how my bot works. (similar). We have open at 00-00, if it drops, short at 40, or if it goes up 40 go long. So it's gone long and makes 40 so we are long. If it then drops we short at 40 points from the highest high or vice versa. We are hunting the daily range. At the moment cable isn't stable, ie, 50, 60 ranges. Its up to you how you deal with money management. I use 40 if a short range might happen. I use 60 when we have usual range of 100/120+. It works,...
Thanks I'll have a look.

I was working on a high probability hit on 45 going up to 50 or 55 going down to 50 but I can see it's too narrow. At first it looks like whoa 95% but then run some money management and it's not eldorado afterall. But.... the move towards it definitely is (on somedays) but there must be another trigger to start it going there..? Also 90 to 00 or 10 to 00 are good with the right conditions too.

Ha! This is starting to sound like Dan Brown writing my trading plan...
  • #60,787
  • Feb 17, 2022 12:28pm Feb 17, 2022 12:28pm
Quoting billytt
{quote} LOL. I'm on my mobile so hard to explain. Use 50 if you want. This is similar to how my bot works. (similar). We have open at 00-00, if it drops, short at 40, or if it goes up 40 go long. So it's gone long and makes 40 so we are long. If it then drops we short at 40 points from the highest high or vice versa. We are hunting the daily range. At the moment cable isn't stable, ie, 50, 60 ranges. Its up to you how you deal with money management. I use 40 if a short range might happen. I use 60 when we have usual range of 100/120+. It works,...
Just re read this a bit slower. So we are talking range not levels which is what I meant at first.
Got it now!
  • #60,788
  • Feb 17, 2022 12:29pm Feb 17, 2022 12:29pm
Quoting Fagin
{quote} Thanks I'll have a look. I was working on a high probability hit on 45 going up to 50 or 55 going down to 50 but I can see it's too narrow. At first it looks like whoa 95% but then run some money management and it's not eldorado afterall. But.... the move towards it definitely is (on somedays) but there must be another trigger to start it going there..? Also 90 to 00 or 10 to 00 are good with the right conditions too. Ha! This is starting to sound like Dan Brown writing my trading plan...
If you have an idea, TRY It, maybe use a really small trade size to give you the feel. When I'm back trading tomorrow I'll try show the 40/60. Like I say, I don't use it every day.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,789
  • Feb 17, 2022 6:24pm Feb 17, 2022 6:24pm
Quoting billytt
{quote} LOL. I'm on my mobile so hard to explain. Use 50 if you want. This is similar to how my bot works. (similar). We have open at 00-00, if it drops, short at 40, or if it goes up 40 go long. So it's gone long and makes 40 so we are long. If it then drops we short at 40 points from the highest high or vice versa. We are hunting the daily range. At the moment cable isn't stable, ie, 50, 60 ranges. Its up to you how you deal with money management. I use 40 if a short range might happen. I use 60 when we have usual range of 100/120+. It works,...
Billy, the way you casually drop these key nuggets of gold into the thread never ceases to amaze me.

People, be grateful there are still people in the world who are willing to do this. To share major aspects of a trading philosophy with no expectation of payback, just because he wants to give something back.

Awesome, just awesome.
  • #60,790
  • Feb 17, 2022 9:16pm Feb 17, 2022 9:16pm
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Hope you didn't get trapped, Billy.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #60,791
  • Feb 17, 2022 9:18pm Feb 17, 2022 9:18pm
Quoting billytt
{quote} LOL. I'm on my mobile so hard to explain. Use 50 if you want. This is similar to how my bot works. (similar). We have open at 00-00, if it drops, short at 40, or if it goes up 40 go long. So it's gone long and makes 40 so we are long. If it then drops we short at 40 points from the highest high or vice versa. We are hunting the daily range. At the moment cable isn't stable, ie, 50, 60 ranges. Its up to you how you deal with money management. I use 40 if a short range might happen. I use 60 when we have usual range of 100/120+. It works,...
Attached Image (click to enlarge)
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100+ pips daily range is a rare bird on GBPUSD.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #60,792
  • Feb 18, 2022 12:15am Feb 18, 2022 12:15am
t 06-12
Hi all, Cable 4 hour chart copied a couple of minutes ago.
2 black 70 range vertical lines placed on highest high and lowest low. They will be adjusted as price moves.
Range 18, and smack on a 00.
No break yet. i am itching to short lol.
Attached Image (click to enlarge)
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t 06-15
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,793
  • Feb 18, 2022 12:16am Feb 18, 2022 12:16am
Quoting TooSlow
{quote} {image} 100+ pips daily range is a rare bird on GBPUSD.

it certainly is, unlike the good old days.
We learn to adapt/adjust. still able to trade.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,794
  • Feb 18, 2022 12:19am Feb 18, 2022 12:19am
Quoting TooSlow
{image} Hope you didn't get trapped, Billy.
I had a fail off a short which is standard, but i decided to fix it off the 15 minute bar and that 40/60 i spoke of.

If you just look at that 4 hour chart, you will see the 00-00 4 hr bar chart high broke and kept going.
It actually would of been an easy fix.
Dont ask about the 15 min fix lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,795
  • Feb 18, 2022 12:23am Feb 18, 2022 12:23am
Quoting lemercenaire
{quote} Billy, the way you casually drop these key nuggets of gold into the thread never ceases to amaze me. People, be grateful there are still people in the world who are willing to do this. To share major aspects of a trading philosophy with no expectation of payback, just because he wants to give something back. Awesome, just awesome.
Thanks Lem, your post means a lot to me.
I honestly do try to help people, nudge them into thinking and developing.
and yes i have sold stuff in the past but not ever here in FF.
Thanks again.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,796
  • Feb 18, 2022 1:21am Feb 18, 2022 1:21am
Quoting Fagin
{quote} Just re read this a bit slower. So we are talking range not levels which is what I meant at first. Got it now!
Fagin, here we have Dax. chart just shows the open 00-00 15 minute bar.

when i have used this method in the past, i used a range of 50 or 100. <<<< less whip but you need the bank.
So the chart. lets start at the beginning of the day. draw horizontal lines off the highest high and lowest low.
shall we use 50/100 ????? i know . lets go for a fail. we shall use 40 range.
Attached Image (click to enlarge)
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i will show a chart in a minute. This chart is old and i have cleared a lot of bars off.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,797
  • Feb 18, 2022 1:32am Feb 18, 2022 1:32am
Fagin, a good start as i had a fail. (I am not trading this ,just showing).
Dax 15 min bar. from the highest high we drew a horizontal line 40 pips away for a short trigger.
price dropped , we went short BUT FOR HOW LONG????? it made + 20 pips at No1 then moved back up. to No 2. if you took some some pips good if not we are now on a fail at minus 40.
Then it dropped ,then it went back up for a lot yaaaaaaaaaaaaaaaaaaaaaaaay.
This is easy yet hared but you need a big bank and sensible money management skills.
adjusting trade size, counter if need be, multple trades. That is trading.

Like i say , i would actually use a bigger range to trade off.
Attached Image (click to enlarge)
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,798
  • Feb 18, 2022 1:35am Feb 18, 2022 1:35am
whilst i was yapping, my cable long closed for 5. the 00-00 4 hour bar high broke.
I still do not like going long with cable.
t 07-35
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60,799
  • Feb 18, 2022 1:38am Feb 18, 2022 1:38am
Quoting billytt
Fagin, a good start as i had a fail. (I am not trading this ,just showing). Dax 15 min bar. from the highest high we drew a horizontal line 40 pips away for a short trigger. price dropped , we went short BUT FOR HOW LONG????? it made + 20 pips at No1 then moved back up. to No 2. if you took some some pips good if not we are now on a fail at minus 40. Then it dropped ,then it went back up for a lot yaaaaaaaaaaaaaaaaaaaaaaaay. This is easy yet hared but you need a big bank and sensible money management skills. adjusting trade size, counter if need...
I see, so the 40 is like a no mans land, but either side of it is attack. I guess it's like a dynamic mother bar that can adjust through out the day?
  • #60,800
  • Feb 18, 2022 1:43am Feb 18, 2022 1:43am
Quoting Fagin
{quote} I see, so the 40 is like a no mans land, but either side of it is attack. I guess it's like a dynamic mother bar that can adjust through out the day?


have you read my folder????? lol
something like that, and it can be adjusted throughout the day.

Look at cable right now, dont forget we are getting short ranges quite often, try a 30 range see what happens.
But i must say , i am not advising you or anyone else to do this, it does get whip, it does fail. It is how you manage the trade.
t 07-42
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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