Billytt Die happy trading e/j daily breakout

8am onwards on one minute - story so far. Currently waiting for break of small range that I think has just previously formed

Yes -it is :-)

not an easy start for me, lol.

Ill be back, just a fixing.
t09-32

t 10-55
Cable 15 min chart . 1 = 7-07-45 high broke and failed.
2 =08-00 low broke i got the 1 % , plus 1% off the 07-45 low break, then we had another fail when price moved long again
This happens but looked what happened, price kept moving up and hey ho yaaaaaaay. all sorted with a few % in hand.

YES I HAD NEGATIVE TRADES BUT THAT IS TRADING, ALL SORTED.

And those levels kept me from trading for the rest of my session ending at 10am.

nice 1

Luckily it didn't go to penalties

But yeah, England played well. Very deserved win.

I haven't watched at any chart today. Without a plan (including the risk management) it will be only disaster for me. I am also not sure about trading DAX will make this easier. I will stay on the sideline and try to backtest some more ideas. I don't even have any money in any brokerage account anymore.

But good luck to you all.

Gardening fact.

Dow Jones ( Claudia's mention) 12:45 on the 15 minute chart. Great short.

And getting out of this one minute (Post 2:30pm UK) trade -large green candle - don't want to lose gains. A good early afternoon

Hi Phil,
I originally told this story in here years and years ago. ( Or part of it).
I had a Spanish guy stay with me and i taught him how i trade. either for a 20 pip profit or maybe 5 pip. ( My mind is going).

So he says why not go for one trade and go all in??? put all you chips on black/red , go all in texas holdem poker style.
I never really knew what he meant ,mainly because i never wanted to. .

To keep post short. i want 1% of my bank per trade day and i want it off 1 pip.
So what ever that 1% is, that is what i use. currently £100 per pip off a 10 000 bank. ( forget about our looney margin rate as this is a separate issue}.
and i am compounding my profit i'm up 400% + since 30th May or 2 months. so more than a 100.

The biggest fun i have is that most of my trades are put on manually , and this works better than automatic, as i usually get more than a single 1 pip gain.

If i get a fail, i then resort to my normal fix trading . It is FUN and adrenalin certainly flies.
Treade well and take care.

I had a quick look for today on GBP/USD.

Price broke the high of the 07:45 M15. Going long there with a -10 Pips fixed stop loss would have failed again.

What about using the complete Tokyo session (yellow box) as the breakout trigger instead of a single bar and maybe targeting the Tokyo range height x 2 or x 1.5 while using half of the Tokyo session as a stop loss? Today this would have worked out great.

Would appreciate your comments.

[quote=billytt;14085286]{quote} Hi Phil, I originally told this story in here years and years ago. ( Or part of it). I had a Spanish guy stay with me and i taught him how i trade. either for a 20 pip profit or maybe 5 pip.


Cheers Billy fly by your seat stuff mate! I guess the eureka movement for me was when I stopped worrying about pip totals, now I'm all about %

[quote=Aussie Phil;14085771]
Thank you Phil,,,,, It is all about percentage as you know.
A trader can have a small bank and make a decent % return, they can then grow the bank.

Thats better than a trader striking it lucky on an NFP trade.... or catching a lucky spike.
I catch spikes at times but i aim for that % first.
Trade well.

t 07-28
Yesterdays Daily Range was 130, todays 00-00 4 hour bar range = 34.
The low has already broke.
Trade well all.
t 07-29

Trading the Asian session, Tokyo session is a well proven trade method.

We have the session make a lot of consolidation at times and we just trade the break.
Uk opens just before asian session closes. It is good.
I narrowed my trade zone as i worked initially of stats.

Trade well all.
t 07-32

t 08-01
Cable 07-45 15 min bar break. low broke for my BIG 1% lol.

more scope for more, but i am out.
Trdae well all.
t 08-02

i am actually going out soon, so i didnt want to be on Pc should i of had a fail.

t 08-32
Cable. the 08-00 15 min bar. the low broke . It has made approx 9. more than enough lol.
BUT, i didnt trade it, as i said. i am going out in 2 minutes, so catch you later
Trade well.

Afternoon UK pre Dow 12:45am bar. Looking for more than 5 would/could see you in trouble?
Unlike yesterday.