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Billytt Die happy trading e/j daily breakout

  • #63,141
  • Feb 12, 2023 5:26am Feb 12, 2023 5:26am
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 !!
That's very high Claudia. But great for confidence levels.
every Saint has a past. Every Sinner has a Future
  • #63,142
  • Edited 6:43am Feb 12, 2023 5:34am | Edited 6:43am
Quoting Lineseeker
{quote} 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!
I'm sticking with the original idea which was quite simply to take break outs of the 08:00 and mid-day bars (UK time) using the 4 hour time frame. No buffers or trailing stops etc. Also ignoring news releases from now on.

See what next week brings. I'm using 25 s/l and 50 t/p as mentioned above.

Only trading Ger 40 on this for the time being.

Out of a potential 20 trades I expect to take around 8. Should give around 6 wins 2 losses which gives +250 pips. Being realistic not all wins will go + 50 but some will go more.

Suspect the s/l needs to be higher but see what next week tells me.

Edit: forgot to mention that on going (once I have s/l and t/p figured out) I plan to trade this only on Tue/Wed/Thu - most volatile days of the week.
  • #63,143
  • Feb 12, 2023 8:06am Feb 12, 2023 8:06am
Quoting claudia1
{quote} I'm sticking with the original idea which was quite simply to take break outs of the 08:00 and mid-day bars (UK time) using the 4 hour time frame. No buffers or trailing stops etc. Also ignoring news releases from now on. See what next week brings. I'm using 25 s/l and 50 t/p as mentioned above. Only trading Ger 40 on this for the time being. Out of a potential 20 trades I expect to take around 8. Should give around 6 wins 2 losses which gives +250 pips. Being realistic not all wins will go + 50 but some will go more. Suspect the s/l needs...
great - thanks for sharing Claudia.

my quick maths isn’t the best - how did you get the 20? I’m assuming the 8 comes back to Tue/Wed/Thu?
  • #63,144
  • Feb 12, 2023 8:13am Feb 12, 2023 8:13am
Quoting Lineseeker
{quote} great - thanks for sharing Claudia. my quick maths isn’t the best - how did you get the 20? I’m assuming the 8 comes back to Tue/Wed/Thu?
4 potential bets a day. A buy and a sell in the morning and the same again in the afternoon.

Over a 5 day week that gives you 20 potential bets.

The 8 comes back to Tue/Wed/Thu.

Still a work in progress but getting there !
  • #63,145
  • Feb 12, 2023 8:32am Feb 12, 2023 8:32am
hi to everyone.
i like when try to make trading simple.
i am also a breaout trader, i run the strategy with an EA i have, using diferent times for trade, but i dont find anything consistent.
can you guys and girls help me with this?, maybe i am doing something wrong.

Juan
  • #63,146
  • Feb 12, 2023 9:20am Feb 12, 2023 9:20am
Quoting claudia1
{quote} I'm sticking with the original idea which was quite simply to take break outs of the 08:00 and mid-day bars (UK time) using the 4 hour time frame. No buffers or trailing stops etc. Also ignoring news releases from now on. See what next week brings. I'm using 25 s/l and 50 t/p as mentioned above. Only trading Ger 40 on this for the time being. Out of a potential 20 trades I expect to take around 8. Should give around 6 wins 2 losses which gives +250 pips. Being realistic not all wins will go + 50 but some will go more. Suspect the s/l needs...
Should add that no trade if the trigger bar closes within +/- 10 of its high/low. Hope that makes sense.
  • #63,147
  • Edited 11:26am Feb 12, 2023 11:02am | Edited 11:26am
Quoting claudia1
{quote} Should add that no trade if the trigger bar closes within +/- 10 of its high/low. Hope that makes sense.
a photo illustration would not go astray for us dummies

ps - thank you!
  • #63,148
  • Feb 12, 2023 11:33am Feb 12, 2023 11:33am
Quoting claudia1
{quote} 4 potential bets a day. A buy and a sell in the morning and the same again in the afternoon. Over a 5 day week that gives you 20 potential bets. The 8 comes back to Tue/Wed/Thu. Still a work in progress but getting there !
once again apologies for being a pain - I have 3 days x 4 times a day being at 12 - how do we get to the 8 from here? Is it based on average? Or the other rule ie the high/low position of trigger bar or based on discretion..
  • #63,149
  • Feb 12, 2023 11:43am Feb 12, 2023 11:43am
Quoting Lineseeker
{quote} once again apologies for being a pain - I have 3 days x 4 times a day being at 12 - how do we get to the 8 from here? Is it based on average? Or the other rule ie the high/low position of trigger bar or based on discretion..
Because every bar does not break out. Just trade the break of the previous bar it is so simple.
  • #63,150
  • Feb 13, 2023 12:35am Feb 13, 2023 12:35am
levels to watch today
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 12 KB
trading is like dancing, don't think and just listen to the music!
  • #63,151
  • Feb 13, 2023 2:59am Feb 13, 2023 2:59am
Quoting claudia1
{quote} Because every bar does not break out. Just trade the break of the previous bar it is so simple.
Got it, thanks Claudia.
  • #63,152
  • Feb 13, 2023 3:00am Feb 13, 2023 3:00am
Quoting birdland
levels to watch today {image}
bird, I noticed you’re using the 1hr - are you using a certain time of day for levels to watch..
  • #63,153
  • Feb 13, 2023 3:10am Feb 13, 2023 3:10am
Buy target hit.
Attached Image (click to enlarge)
Click to Enlarge Name: Germany 40_20230213_09.06.png Size: 12 KB
  • #63,154
  • Feb 13, 2023 3:11am Feb 13, 2023 3:11am
Quoting claudia1
Buy target hit. {image}

Bother -beat me to posting chart
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2023-02-13_09-10-16_f60ee.png Size: 124 KB
every Saint has a past. Every Sinner has a Future
  • #63,155
  • Feb 13, 2023 3:16am Feb 13, 2023 3:16am
And my one minute chart - great stuff Claudia
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2023-02-13_09-15-09_a896b.png Size: 134 KB
every Saint has a past. Every Sinner has a Future
  • #63,156
  • Feb 13, 2023 3:17am Feb 13, 2023 3:17am
Quoting Lineseeker
{quote} Got it, thanks Claudia.
Good. Keep asking questions I don't mind.
  • #63,157
  • Feb 13, 2023 4:17am Feb 13, 2023 4:17am
Quoting Lineseeker
{quote} bird, I noticed you’re using the 1hr - are you using a certain time of day for levels to watch..
yes, from frankfurt open till london close i watch the h1 chart, just my biological rhythm. but of course stop levels can also be taken ouside this busy time.
trading is like dancing, don't think and just listen to the music!
  • #63,158
  • Feb 13, 2023 5:31am Feb 13, 2023 5:31am
Where’s Billy?
  • #63,159
  • Feb 13, 2023 5:53am Feb 13, 2023 5:53am
Quoting claudia1
{quote}Good. Keep asking questions I don't mind.
thanks Claudia and Bird - apologies in advance for being annoying. I genuinely want to learn.
  • #63,160
  • Feb 13, 2023 6:05am Feb 13, 2023 6:05am
Quoting RieseP
Where’s Billy?

Should be out with good behaviour eventually
every Saint has a past. Every Sinner has a Future
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