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Billytt Die happy trading e/j daily breakout

  • #3,601
  • Aug 25, 2015 6:13am Aug 25, 2015 6:13am
Quoting billytt
{quote} Hi Piprader, my train of thought is also ,, The market is full of contradictions as in ,, you will see a resistance/support pivot.. What will happen when that area is reached. Anyone can answer next post
This is definitely one of my major demons L.O.L.... I guess THE ANSWERE IS mmmmm we don't know!! and we must wait and see and try to recognise the clues and triggers
  • #3,602
  • Aug 25, 2015 6:19am Aug 25, 2015 6:19am
Cable,,
Attached Image


R1 was getting near but 10/11 pips away so not counted , what will happen when next R1/S1 is reached or very close to it...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,603
  • Aug 25, 2015 6:22am Aug 25, 2015 6:22am
Quoting Piprader
{quote} This is definitely one of my major demons L.O.L.... I guess THE ANSWERE IS mmmmm we don't know!! and we must wait and see and try to recognise the clues and triggers
good... I am speaking about what happens after we have entered a trade.. Not after it has happened.
This can help to earn more %%%
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,604
  • Aug 25, 2015 6:27am Aug 25, 2015 6:27am
Cable,, example
Attached Image

yesterdays daily high was broken BUT R1 was in sight so instead of getting 5 + spread a few more could of been made. The break can be adapted


edit, I can post more examples good and bad
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,605
  • Aug 25, 2015 6:46am Aug 25, 2015 6:46am
Quoting billytt
Cable,, example {image} yesterdays daily high was broken BUT R1 was in sight so instead of getting 5 + spread a few more could of been made. The break can be adapted edit, I can post more examples good and bad
Hi Mr B, would this be a thought that price had a reasonable probability of bouncing from R1 and with this in mind look for a trigger on a lower time frame, should price retrace to below yesterdays daily high.
I notice that your pivot is different to mine, .... can I ask do you work out your pivot manually or do you use an indi that allows you to set the start of day ( my charts are GKFX) this means that 12 midnight is 2am on my chart
  • #3,606
  • Aug 25, 2015 6:49am Aug 25, 2015 6:49am
Quoting billytt
Cable,, example {image} yesterdays daily high was broken BUT R1 was in sight so instead of getting 5 + spread a few more could of been made. The break can be adapted edit, I can post more examples good and bad
That would be good for me ,,,.....Good and Bad is all good so to speak... I think...
Its getting that time I guess
Attached Image
  • #3,607
  • Aug 25, 2015 7:02am Aug 25, 2015 7:02am
Quoting Piprader
{quote} Hi Mr B, would this be a thought that price had a reasonable probability of bouncing from R1 and with this in mind look for a trigger on a lower time frame, should price retrace to below yesterdays daily high. I notice that your pivot is different to mine, .... can I ask do you work out your pivot manually or do you use an indi that allows you to set the start of day ( my charts are GKFX) this means that 12 midnight is 2am on my chart
My pivot is the one the broker puts out, this does really affect me now. Going back a couple of years my little girl used to plot them for me.
and some times even had pivots for the actual trading hours of uk and usa. you know high/low/close.
I do not know the probabilities of trades bouncing off pivots but to me they are not precise enough. For instance look at Cable earlier it rose to 10 off R1 then bounced down , was this a bounce, some times it goes over by 10/20 before bounce, we are now talking stops and most people will be crucified trying to play this game.
It is easy to show a chart after the event but it is soul destroying trying to trade AND THEN sometimes it doesn't bounce ha ha
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,608
  • Aug 25, 2015 7:08am Aug 25, 2015 7:08am
Speaking about my girl, about 3/4 years ago she used to trade (aged 8) she had her own account which I use now but one particular day she couldn't use her account so I let her use mine (BAD MISTAKE) she was able to trade at .50p (50 pence) per pip. But she forgot the point and entered a trade at £50 with 30 stop lol. I had to take over as it was me who panicked , got out ok but I never told her shhhhhh
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,609
  • Aug 25, 2015 7:11am Aug 25, 2015 7:11am
[quote=RabbitWolf;8455183]{quote} Sir, you need to fix Your Monday Pivots First, if you making attempt to understand how it works.
Thanks for the explanation Bunny but it is too far over my head.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,610
  • Aug 25, 2015 7:16am Aug 25, 2015 7:16am
[quote=RabbitWolf;8455183]{quote} Sir, you need to fix Your Monday Pivots First, if you making attempt to understand how it works. 1 hour time frame was Claudias original idea...
so what happens when the high/low goes past high/low of the BB by a couple of hundred points or does one have no stop
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,611
  • Aug 25, 2015 7:26am Aug 25, 2015 7:26am
Quoting Piprader
{quote} Hi Mr B, would this be a thought that price had a reasonable probability of bouncing from R1 and with this in mind look for a trigger on a lower time frame, should price retrace to below yesterdays daily high. I notice that your pivot is different to mine, .... can I ask do you work out your pivot manually or do you use an indi that allows you to set the start of day ( my charts are GKFX) this means that 12 midnight is 2am on my chart
Pipradar, I thought you were in the Uk, it doesn't matter. Maybe I can adapt my charts for you ( I probably wont lol)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,612
  • Edited 7:45am Aug 25, 2015 7:31am | Edited 7:45am
Quoting billytt
{quote} Pipradar, I thought you were in the Uk, it doesn't matter. Maybe I can adapt my charts for you ( I probably wont lol)
Hi Mr B, I am in UK, But the chart time with GKFX is 2 hours different to the rest of the UK = ???
The 15m bar on this chart reads 3:15pm but the actual time here in the north west and the rest of the UK IS 1:15 pm
Attached Image (click to enlarge)
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  • #3,613
  • Aug 25, 2015 7:38am Aug 25, 2015 7:38am
Quoting billytt
{quote} My pivot is the one the broker puts out, this does really affect me now. Going back a couple of years my little girl used to plot them for me. and some times even had pivots for the actual trading hours of uk and usa. you know high/low/close. I do not know the probabilities of trades bouncing off pivots but to me they are not precise enough. For instance look at Cable earlier it rose to 10 off R1 then bounced down , was this a bounce, some times it goes over by 10/20 before bounce, we are now talking stops and most people will be crucified...
Yep it is a process where you take your chances and make decisions, same like with other methods... . For me after looking at 1 hour, i go on 5 min chart and it gives me more clue. Now i look more at 4 hour chart too and see when 4 hour candles closes and how it closes. Looking at MACD and Stochastics helps here too. But that will be other trading method. Being picky about pairs i trade. If not sure about cable i switch to other pair which gives more clue.

Looks like Monday is O.K day for me
Attached Image (click to enlarge)
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  • #3,614
  • Aug 25, 2015 7:43am Aug 25, 2015 7:43am
Can't see problem calculating daily pivot even if you broker is 10 hours ahead I know something gets round that . As does Rabbit.
  • #3,615
  • Aug 25, 2015 7:49am Aug 25, 2015 7:49am
Quoting Piprader
{quote} Hi Mr B, I am in UK, But the chart time with GKFX is 2 hours different to the rest of the UK = ??? The 15m bar on this chart reads 3:15pm but the actual time here in the north west and the rest of the UK IS 1:15 pm {image}

REALLY,, I know the north is different from the rest of UK ( I am northern) but that sounds odd
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,616
  • Aug 25, 2015 7:53am Aug 25, 2015 7:53am
Quoting claudia1
Can't see problem calculating daily pivot even if you broker is 10 hours ahead I know something gets round that . As does Rabbit.
it is easy to calculate but always use the same times for consistency, said to everyone except Claudia as she knows
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,617
  • Aug 25, 2015 7:59am Aug 25, 2015 7:59am
Quoting RabbitWolf
{quote} Sir, you need to fix Your Monday Pivots First, if you making attempt to understand how it works. 1 hour time frame was Claudias original idea... Looking at MA slope (My idea and it helps) + BB 1 hour and BB 4 Hour... {image}
You know what my thoughts are on bunny bands but it works for you that's all that matters.

More important ea is doing good running on e/j, g/u and e/u. Time to put some money up next week and see where we really go.
  • #3,618
  • Aug 25, 2015 8:00am Aug 25, 2015 8:00am
The most simple solution to download demo Metatrader with the time you want and add pivots on it. Or use Pivot Indicators , that give you Pivot time shift and ignores Sunday
  • #3,619
  • Aug 25, 2015 8:01am Aug 25, 2015 8:01am
Quoting billytt
{quote} it is easy to calculate but always use the same times for consistency, said to everyone except Claudia as she knows
http://www.pivotpointcalculator.com/ or wine bar does it set to any hour wanted (thanks to David).
  • #3,620
  • Aug 25, 2015 8:02am Aug 25, 2015 8:02am
Quoting RabbitWolf
The most simple solution to download demo Metatrader with the time you want and add pivots on it. Or use Pivot Indicators , that give you Pivot time shift and ignores Sunday
Yep
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