Billytt Die happy trading e/j daily breakout | Page 3157 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #63,121
  • Feb 10, 2023 3:56am Feb 10, 2023 3:56am
Dax charts after the 4 hour break. On a lower time frame, my approach took two attempts to get a profitable long. Later price dropped below the previous high and the bottom of the 4 hour box
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GER30_2023-02-10_09-48-12_6ab39.png Size: 145 KB
every Saint has a past. Every Sinner has a Future
  • #63,122
  • Feb 10, 2023 4:05am Feb 10, 2023 4:05am
Cable not so good ?
Put in middle of yesterdays Daily bar as an experiment on todays chart( saw it shown on a thread by ICT? on YouTube.)
Price heading downwards towards bottom of box. If you were long where would you get out or even reverse?
Another alternative is to "Wick Trade the four hour bar as our old buddy Lem often advocated, and is an approach worthy of consideration on its' own.
Attached Image(s) (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #63,123
  • Feb 10, 2023 4:11am Feb 10, 2023 4:11am
Quoting turnip15
Dax charts after the 4 hour break. On a lower time frame, my approach took two attempts to get a profitable long. Later price dropped below the previous high and the bottom of the 4 hour box {image} {image}
Thanks be to Dax then- Long and Short
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every Saint has a past. Every Sinner has a Future
  • #63,124
  • Edited 4:49am Feb 10, 2023 4:15am | Edited 4:49am
i would have missed it, a bit weak but feel much better than yesterday. i went long from the blue line.

still short 3 positions.
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #63,125
  • Feb 10, 2023 6:00am Feb 10, 2023 6:00am
another stop hiding place has appeared;-)
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #63,126
  • Feb 10, 2023 6:08am Feb 10, 2023 6:08am
Quoting turnip15
Cable not so good ? Put in middle of yesterdays Daily bar as an experiment on todays chart( saw it shown on a thread by ICT? on YouTube.) Price heading downwards towards bottom of box. If you were long where would you get out or even reverse? Another alternative is to "Wick Trade the four hour bar as our old buddy Lem often advocated, and is an approach worthy of consideration on its' own. {image} {image} {image}
Turnip - could you please give me a dummy’s explanation for Lem’s wick trade the 4 hour bar please?
  • #63,127
  • Feb 10, 2023 6:10am Feb 10, 2023 6:10am
Quoting birdland
another stop hiding place has appeared;-) {image}
how are you feeling bird? The fever come down?

with the chart, how are your market maker trades going? are these trades your averaging trades?
  • #63,128
  • Feb 10, 2023 6:17am Feb 10, 2023 6:17am
Quoting Lineseeker
{quote} how are you feeling bird? The fever come down? with the chart, how are your market maker trades going? are these trades your averaging trades?
yes fever came down over night, a lot of sweating. but still feel weak with concentration

i have not closed one trade yet, so far 3 shorts and 1 long running. the 3 shorts are averaging.

what i definitely can tell is that for this kind of "stop hunt -trading" you only need to watch every 2-3 hours, such relaxed trading would be possible if the results were

right in the end;-)
trading is like dancing, don't think and just listen to the music!
  • #63,129
  • Feb 10, 2023 6:29am Feb 10, 2023 6:29am
Quoting Lineseeker
{quote} Turnip - could you please give me a dummy’s explanation for Lem’s wick trade the 4 hour bar please?
You would need to go back and look at his charts in this thread. Our late friend Lem did a lot of research and trades so it is worth you looking up his charts and posts.
Basically you have a previous bar at a certain time. Next bar price travels out of the wick area( top or bottom of the previous bar) or travels back into the body of the previous bar.
every Saint has a past. Every Sinner has a Future
  • #63,130
  • Feb 10, 2023 6:54am Feb 10, 2023 6:54am
Quoting turnip15
{quote} You would need to go back and look at his charts in this thread. Our late friend Lem did a lot of research and trades so it is worth you looking up his charts and posts. Basically you have a previous bar at a certain time. Next bar price travels out of the wick area( top or bottom of the previous bar) or travels back into the body of the previous bar.
The 8am to 12noon, four hour section, may give us a short but range is so wide it might repeat yesterdays slow and late ( after UK close) turnover?

have a good weekend everyone.
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #63,131
  • Feb 10, 2023 11:21am Feb 10, 2023 11:21am
so i got an alarm, all 3 shorts closed with an overall profi of +116 pips. stops tracked down:-)

now bought a long at the blue line. TP will be the blue line above
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #63,132
  • Feb 10, 2023 11:27am Feb 10, 2023 11:27am
Quoting birdland
{quote} yes fever came down over night, a lot of sweating. but still feel weak with concentration i have not closed one trade yet, so far 3 shorts and 1 long running. the 3 shorts are averaging. what i definitely can tell is that for this kind of "stop hunt -trading" you only need to watch every 2-3 hours, such relaxed trading would be possible if the results were right in the end;-)
glad you’re feeling better and keep up those liquids!

aha understood, it’s a fascinating strategy - always wanted to be a market maker, will watch with interest!
  • #63,133
  • Feb 10, 2023 11:31am Feb 10, 2023 11:31am
Quoting birdland
so i got an alarm, all 3 shorts closed with an overall profi of +116 pips. stops tracked down:-) now bought a long at the blue line. TP will be the blue line above {image}
just noticed this bird, great result and luckily you aren’t hallucinating.. out of interest - i read one of your posts where you spoke about stupid averaging and how you’re trying to avoid it - is that why you didn’t short more than 3 times? Also is each short the same position size..

edit: spelling error
  • #63,134
  • Feb 10, 2023 11:34am Feb 10, 2023 11:34am
Quoting turnip15
{quote} You would need to go back and look at his charts in this thread. Our late friend Lem did a lot of research and trades so it is worth you looking up his charts and posts. Basically you have a previous bar at a certain time. Next bar price travels out of the wick area( top or bottom of the previous bar) or travels back into the body of the previous bar.
thanks Turnip, i have read some of Lem’s posts - I enjoyed his posts on spike hunting and his posts about the other galaxy - he was brilliant with his scalping.
  • #63,135
  • Feb 11, 2023 2:38am Feb 11, 2023 2:38am
Quoting Lineseeker
{quote} just noticed this bird, great result and luckily you aren’t hallucinating.. out of interest - i read one of your posts where you spoke about stupid averaging and how you’re trying to avoid it - is that why you didn’t short more than 3 times? Also is each short the same position size.. edit: spelling error
on thursday i was almost only asleep, but even if i had been awake, i would not have added another short. i only want to strike at stop levels in the experiment.

on the subject of "stupid averaging": i haven't been doing this for so long and i'm constantly learning myself.

but simply cutting through again and again at x-pips seems to me to be the wrong way to go. there were days last year that you wouldn't have survived.

you should always have a good reason, such as supply&demand or resistance&support, for cutting through.

it is important not to shoot your bullets all at once when cutting through, but rather to use moderation and precision.
trading is like dancing, don't think and just listen to the music!
  • #63,136
  • Edited 8:11am Feb 11, 2023 7:48am | Edited 8:11am
75% win rate last week on Ger 40 with risk/reward around 1:1

That's okay but can be improved.

Got stopped out several times due to placing tight s/l on trades which went on to be big winners in my absence. Have increased s/l to 25 and t/p to 50 from Monday.

However, Monday should be fairly quiet with no significant news events to liven it up.

This is still very much a work in progress but I'm getting there. Watch this space !!
  • #63,137
  • Feb 11, 2023 11:13am Feb 11, 2023 11:13am
Quoting birdland
{quote} on thursday i was almost only asleep, but even if i had been awake, i would not have added another short. i only want to strike at stop levels in the experiment. on the subject of "stupid averaging": i haven't been doing this for so long and i'm constantly learning myself. but simply cutting through again and again at x-pips seems to me to be the wrong way to go. there were days last year that you wouldn't have survived. you should always have a good reason, such as supply&demand or resistance&support, for cutting through. it is important...
Agreed, systematically averaging at x pips is not as good as the improved method of waiting for supply/resistance, round numbers or pivots.

watching this with interest bird.
  • #63,138
  • Edited 3:34pm Feb 11, 2023 11:26am | Edited 3:34pm
Quoting claudia1
75% win rate last week on Ger 40 with risk/reward around 1:1 That's okay but can be improved. Got stopped out several times due to placing tight s/l on trades which went on to be big winners in my absence. Have increased s/l to 25 and t/p to 50 from Monday. However, Monday should be fairly quiet with no significant news events to liven it up. This is still very much a work in progress but I'm getting there. Watch this space !!
Awesome - do the stats improve by not including non-news days? How about if you only shorted or went long? I wonder what would happen if you trail the stop and if there’s a right tail for the distribution, increase the tp even further.

excited to see how this comes together!
  • #63,139
  • Feb 11, 2023 2:58pm Feb 11, 2023 2:58pm
Quoting claudia1
75% win rate last week on Ger 40 with risk/reward around 1:1 That's okay but can be improved. Got stopped out several times due to placing tight s/l on trades which went on to be big winners in my absence. Have increased s/l to 25 and t/p to 50 from Monday. However, Monday should be fairly quiet with no significant news events to liven it up. This is still very much a work in progress but I'm getting there. Watch this space !!
claudia is Dax your new dancing partner?
  • #63,140
  • Feb 11, 2023 3:01pm Feb 11, 2023 3:01pm
Quoting RieseP
{quote} claudia is Dax your new dancing partner?
It is yes ! Still trade GU and FTSE though.
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