Billytt Die happy trading e/j daily breakout | Page 3074 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #61,461
  • Jun 22, 2022 1:31am Jun 22, 2022 1:31am
Quoting Fagin
{quote} Think I've gotten more interested in fixing than trading, it's a bit of a mind game I use my fib tool to "map" out my fixes, there are dozens of ways tofix, just got to find what fits with you. {image}
Thanks for the tip Fagin. I like how you say 'map out', i can now see the opportunities neatly. Happy trading all.
  • #61,462
  • Jun 22, 2022 1:37am Jun 22, 2022 1:37am
Quoting allaka
{quote} Thanks for the tip Fagin. I like how you say 'map out', i can now see the opportunities neatly. Happy trading all.
No probs, make it your own. We all trade differently and may not have Billy's bank!
  • #61,463
  • Jun 22, 2022 2:08am Jun 22, 2022 2:08am
Quoting Fagin
{quote} No probs, make it your own. We all trade differently and may not have Billy's bank!
07-55
Hi bud, you just reminded me of something.
Let me explain my 1% , i look for.
Example. i have 100 and i want 1%. so 100 + 1% =101.


To get that 1% i could use lot 1 and get 1% off a 1 pip move. or use lots of smaller lots. ie .25 x 4 =1.

The big problem is the margin, so for a 1 lot size trade i would need 406 margin.
So my margin is separate from my 100.
i take 1% of 100 not 506. easy lol.

Also, i say Lot, when infact it isnt the correct word.

t 08-08
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,464
  • Jun 22, 2022 2:11am Jun 22, 2022 2:11am
t 08-09
Cable 07-45 . my last post was written ages before i posted it.
Cable 07-45 . High broke and it failed, then it dropped and bingo. i got my 1% and fixed the minus 12 with a few extra % yaaaaaaaaay.
t 08-11
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,465
  • Jun 22, 2022 2:12am Jun 22, 2022 2:12am
t 08-11.
i have finished for the day. i am not trading off the 08-00 15 min bar break.
t 08-11
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,466
  • Jun 22, 2022 2:22am Jun 22, 2022 2:22am
t 08-22
cable. the 08-00 15 min bar break. low broke and the trade would of been good. i didnt trade trade it as i said.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,467
  • Jun 22, 2022 2:23am Jun 22, 2022 2:23am
Quoting billytt
{quote} 07-55 Hi bud, you just reminded me of something. Let me explain my 1% , i look for. Example. i have 100 and i want 1%. so 100 + 1% =101. To get that 1% i could use lot 1 and get 1% off a 1 pip move. or use lots of smaller lots. ie .25 x 4 =1. The big problem is the margin, so for a 1 lot size trade i would need 406 margin. So my margin is separate from my 100. i take 1% of 100 not 506. easy lol. Also, i say Lot, when infact it isnt the correct word. t 08-08
Thanks Billy, I need to read this a few times... currently I'm trading for a prop firm and margin is okay 100-1 however they only allow 5% daily drawdown so it scuppers me a bit (think that is a seafaring term?)..

I'm still working out how best to play it. Looking at 0.25% per 5 pips but only leaves a couple of fails at the other end, frustrating..

I also scalp EU throughout the day but need about 15 trades on that to make 0.5% consistently without blowing which is ok but sometimes taxing on the grey matter...
  • #61,468
  • Jun 22, 2022 2:53am Jun 22, 2022 2:53am
Quoting Fagin
{quote} Thanks Billy, I need to read this a few times... currently I'm trading for a prop firm and margin is okay 100-1 however they only allow 5% daily drawdown so it scuppers me a bit (think that is a seafaring term?).. I'm still working out how best to play it. Looking at 0.25% per 5 pips but only leaves a couple of fails at the other end, frustrating.. I also scalp EU throughout the day but need about 15 trades on that to make 0.5% consistently without blowing which is ok but sometimes taxing on the grey matter...

i have £100 and i want to make 1% off it....

£1 a pip for 1% i would need £406 margin to execute the trade. lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,469
  • Jun 22, 2022 9:13am Jun 22, 2022 9:13am
Good Afternoon Peeps. I've been following this thread for a while and its brilliant. I've actually done most of the 7.45 15 min trades for a month now. I even join in on the Pimms (from time to time).

I just wanted to ask, do you martingale your stake, if the first breakout fails? Like today for example, the first long breakout failed. Thanks in advance.
  • #61,470
  • Edited 11:29am Jun 22, 2022 9:44am | Edited 11:29am
Wecome along seems like everyone turning to booze. I'll stick with wine.

I'll let Billy answer your question it's more his sort of thing.
  • #61,471
  • Jun 23, 2022 12:39am Jun 23, 2022 12:39am
Quoting Silkysilv
Good Afternoon Peeps. I've been following this thread for a while and its brilliant. I've actually done most of the 7.45 15 min trades for a month now. I even join in on the Pimms (from time to time). I just wanted to ask, do you martingale your stake, if the first breakout fails? Like today for example, the first long breakout failed. Thanks in advance.
Hello S and welcome.
the last person who spoke of Martingale in here, i barred them and Mr T set his dog and cat onto them.
Joking aside.
If you have a 50/50 outcome, roulette/forex (long/short) tennis etc and if you double your bet after a loss, this is true martingale and you will end up losing.
If you double up a bet on an outcome which is biased ,this isnt martingale. YOU PLAY THE BIAS.
i said Forex is 50/50 outcome. If you just feel lucky and short or long ,this is a 50/50 outcome but if you then decide to play the bias , this is then a different game.

I will adjust my lot size after a fail, i will also make another trade and then we have counter trades.
As i always tell people, i base my trades off Frequency Distribution Stats, these help with the bias.

S, you say the first breakout failed? look what happened.
Just like a war. we have casualties and we still win the battle.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,472
  • Jun 23, 2022 12:42am Jun 23, 2022 12:42am
t 06-40
yesterdays daily range = 153. todays 00-00 4 hour range = 33.
Price has just hit the 00-00 4 hour bar range high and dropped back. So my bias is High ,and i wished it wasnt lol.

i will be trading off the 07-45 15 min bar again, and maybe bring the 08-00 15 min bar into play. Lets see.

t 06-42
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,473
  • Jun 23, 2022 12:46am Jun 23, 2022 12:46am
t 06-44
Cable 00-00 4 hour bar chart just copiede.
1 = the 00-00 4 hr bar.
2 = the 04-00 to 08-00 4 hour bar .
the 00-00 range high was touched and then drop back.
As always i prefer to short cable.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 23 06 A.png Size: 5 KB

t 06-46
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,474
  • Jun 23, 2022 1:45am Jun 23, 2022 1:45am
Few pips from shorting 6:45am dax bar
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2022-06-23_07-44-53_d5c71.png Size: 146 KB
every Saint has a past. Every Sinner has a Future
  • #61,475
  • Jun 23, 2022 1:50am Jun 23, 2022 1:50am
t 07-48
the 00-00 High broke and is a fail, due to 00-00 low breaking.
Look what happened. My 00-00 4 hour bar range high was 12264.

Look at the price. it went to 12264.0 exactly, then dropped.
This happens quite a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 23 06 B.png Size: 10 KB
t 07-50
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,476
  • Jun 23, 2022 1:51am Jun 23, 2022 1:51am
Quoting turnip15
Few pips from shorting 6:45am dax bar {image}
Mr T, can you see what time it is??????? a bit early for you is it not.
Good trade by the way.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #61,477
  • Jun 23, 2022 2:11am Jun 23, 2022 2:11am
Quoting billytt
t 07-48 the 00-00 High broke and is a fail, due to 00-00 low breaking. Look what happened. My 00-00 4 hour bar range high was 12264. Look at the price. it went to 12264.0 exactly, then dropped. This happens quite a lot. {image}t 07-50
interesting, my broker showed me no break of the 00-00 high.

here the 5min chart:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 12 KB
trading is like dancing, don't think and just listen to the music!
  • #61,478
  • Jun 23, 2022 2:13am Jun 23, 2022 2:13am
Quoting billytt
{quote} Mr T, can you see what time it is??????? a bit early for you is it not. Good trade by the way.
The dog is usually fed at 7am so I usually watch the screen while the dog eats. Then I get Mrs T her cuppa.:-)
By eight I am at screen or nearby until 10am.
Euro or yen on 5 minute is marked up by eight am.
Note yesterday E/J was not as fruitful as the day before. Losing session on that pair but small. But good days outweigh bad if stops are followed.

EDIT: Mrs T just told me she has gardening task for me later this morning ( speaking as she looks over my shoulder at trading account) :-)
every Saint has a past. Every Sinner has a Future
  • #61,479
  • Jun 23, 2022 2:18am Jun 23, 2022 2:18am
Well that was a quick 0745 and 0800 break today. Fixed the 0745 high break and took both short breaks. Been a pretty good month so far
My spreads did widen up so adjusted my TP, took a little more than usual.
  • #61,480
  • Jun 23, 2022 2:19am Jun 23, 2022 2:19am
Quoting turnip15
{quote} The dog is usually fed at 7am so I usually watch the screen while the dog eats. Then I get Mrs T her cuppa.:-) By eight I am at screen or nearby until 10am. Euro or yen on 5 minute is marked up by eight am. Note yesterday E/J was not as fruitful as the day before. Losing session on that pair but small. But good days outweigh bad if stops are followed. EDIT: Mrs T just told me she has gardening task for me later this morning ( speaking as she looks over my shoulder at trading account) :-)
On a more serious note it could be that the 6:45am Dax bar could develop into a one trade a day and go away approach. Ideal for those who have limited time provided you don't aim for for the sky and lock in a small profit each time. Steady as it goes maybe?
every Saint has a past. Every Sinner has a Future
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