Billytt Die happy trading e/j daily breakout | Page 278 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #5,541
  • Nov 3, 2015 3:55am Nov 3, 2015 3:55am
Quoting billytt
{quote} I am watching Cable as you speak, and she who must be obeyed is I assume our Stiletto Queen Claudia
and Just for you Claudia
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  • #5,542
  • Edited 4:09am Nov 3, 2015 3:56am | Edited 4:09am
Quoting Gareth22
{quote} It makes me smile to think you're getting 12% in a morning, great work billytt, that isn't easily done!! Out of interest, I can see you exit your trades on a discretionary basis but just to humour me, what are your stops and targets to give me a rough idea of your risk reward? Happy trading...
I probably do everything we are told not what to do... trading the 15 minute candle is pure gambling but I am in control. It is a case of adding to a winning lot but be very selective.
If I trade the Daily Break, I start off with a 20 stop that is purely for my Stats and I look for 10 pre spread etc... Once the trade goes against I adjust the stop and then counter trade until it comes good...
I have the Stats to back me up..
that 5 I make after spread etc is Percent %%% so it could be 5 or 50 or back in the old days 500...
I am an adrenalin freak lol same as Claudia, she knows what she does a true pro lol

edit, a true professional lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,543
  • Nov 3, 2015 4:06am Nov 3, 2015 4:06am
[quote=Gareth22;8572099]{quote} It makes me smile to think you're getting 12% in a morning, Out of interest, I can see you exit your trades on a discretionary basis.
With Daily Break trades on Cable and E/J we have a high odds of getting 10 points minus spread something like 86% to 89% so getting 5 most days will pay for the shopping and wifes cards, I only play with this so when I say I make 5% that is usually £50.
I do run 2 trades sometimes so my first gets 5 and my second will either get 1 or more maybe 10 or 12 or 15 just look for the retrace.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,544
  • Nov 3, 2015 4:56am Nov 3, 2015 4:56am
Quoting Piprader
{quote} Shorted the low
LATER = looks like this hour bar will be inside bar :nerd:
  • #5,545
  • Nov 3, 2015 5:19am Nov 3, 2015 5:19am
Quoting billytt
{quote} I probably do everything we are told not what to do... trading the 15 minute candle is pure gambling but I am in control. It is a case of adding to a winning lot but be very selective. If I trade the Daily Break, I start off with a 20 stop that is purely for my Stats and I look for 10 pre spread etc... Once the trade goes against I adjust the stop and then counter trade until it comes good... I have the Stats to back me up.. that 5 I make after spread etc is Percent %%% so it could be 5 or 50 or back in the old days 500... I am an adrenalin...
Thanks for the info billy, that's great. I'm not a good enough trader so I need to have a 2:1 risk reward ratio to make up for my losing trades! lol Unfortunately i'm never around for the 8:00 candle as i'm on the school run and i'm far too lazy for the midnight candle
  • #5,546
  • Nov 3, 2015 5:27am Nov 3, 2015 5:27am
Quoting Gareth22
{quote} Thanks for the info billy, that's great. I'm not a good enough trader so I need to have a 2:1 risk reward ratio to make up for my losing trades! lol Unfortunately i'm never around for the 8:00 candle as i'm on the school run and i'm far too lazy for the midnight candle
I do not have any stats for daily Break trading with 2/1 risk or better, perhaps it could be good. One way to trade Daily break is to set stops at previous daily candle but this can be many pips and I have no ide a how good it is over time.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,547
  • Nov 3, 2015 5:29am Nov 3, 2015 5:29am
Quoting Piprader
{quote} LATER = looks like this hour bar will be inside bar :nerd:
Cable, on the hour we are on an ib from 09-00 candle, I do not trade off the hour ib candle but it can give a clue..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,548
  • Nov 3, 2015 5:55am Nov 3, 2015 5:55am
Quoting Piprader
{quote} LATER = looks like this hour bar will be inside bar :nerd:
Cable started short then long out of Cable for 1.5 pips after spread not feeling good about it neeeed a cofffeee and a Choc bisquit.
  • #5,549
  • Nov 3, 2015 6:04am Nov 3, 2015 6:04am
Quoting billytt
{quote} Hello Tomthepoppop, we speak UK time. Maybe the way I trade might not work if I use another countries time, who knows.
Thanks
  • #5,550
  • Nov 3, 2015 6:17am Nov 3, 2015 6:17am
Quoting Piprader
{quote} Cable started short then long out of Cable for 1.5 pips after spread not feeling good about it neeeed a cofffeee and a Choc bisquit.
Yes cable broke yesterdays low then retraced, but it then reversed and broke the inside bar low you spoke of, then dropped past the 00 and hopefully go down to the 70, CXlaudia spoke about 00 being broke and having a good chance of getting 30. 16 already made lol. I AM NOT TRADING THIS, giving the daily break a rest...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,551
  • Nov 3, 2015 6:36am Nov 3, 2015 6:36am
Quoting billytt
{quote} Yes cable broke yesterdays low then retraced, but it then reversed and broke the inside bar low you spoke of, then dropped past the 00 and hopefully go down to the 70, CXlaudia spoke about 00 being broke and having a good chance of getting 30. 16 already made lol. I AM NOT TRADING THIS, giving the daily break a rest...
Thanks Mr B, I think because I have been getting in a hole lately with "bad trade repair" getting whip sawed, I spooked myself and instead of keeping to the plan came out when the trade covered the long and went +1.5p, cable has reached my first take profit level that I had in place.@5380 Sept 26 Hi L.O.L. Think I am getting there though and I have you guys to thank for that for sure.
  • #5,552
  • Nov 3, 2015 6:44am Nov 3, 2015 6:44am
[quote=Piprader;8572449]{quote} Thanks Mr B, I think because I have been getting in a hole lately with "bad trade repair" getting whip sawed, I spooked myself and instead of keeping to the plan came out when the trade covered the long and went +1.5p,
Hi, you cannot knock a gain. +1 is far better than a minus.
Depending how you trade it would not cover a risk reward as Gareth spoke of but the way I trade it would be good.

Keep studying the breaks, they don't always just break and carry on as you know.
A good way to trade is wait for the break THEN retrace and then enter, so instead of getting the 5 you will also get some of the retrace as extra, I will stick a chart in showing if you want....

edit,,, today is an excellent example of what I mean on Cable
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,553
  • Nov 3, 2015 7:04am Nov 3, 2015 7:04am
Cable, todays Daily Break.
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an excellent example,,,
I would of entered the break at No1 and then looked for 5 after spread...
BUT why not see if it retraces, which it did and then enter No2.
Obviously you do not know how far retrace will go but this time it went approx. 16 .
SOOOOOOO just suppose you entered at 10 against the break,,, you would of got your 5 AND 10 = 15 after spread..
This is actually a good way to trade for a beginner...
Forget about losing a trade when a break carries on, as the extra amount of points you make will cover.
AND YES it can lose but you are on a high win rate...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,554
  • Nov 3, 2015 7:10am Nov 3, 2015 7:10am
@Billytt
Sorry to be a boring old fart but I still trade me Billy Bar (with my TA added sometimes) and oil.
Billy Bar was easy today
Busy reading old charts at present.
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every Saint has a past. Every Sinner has a Future
  • #5,555
  • Nov 3, 2015 7:11am Nov 3, 2015 7:11am
See how E/J goes,,, yesterdays low was broken and it retraced , So anytime now pretend you have shorted it and see if it drops and makes the 5 + retrace amount....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,556
  • Nov 3, 2015 7:14am Nov 3, 2015 7:14am
Quoting turnip15
@Billytt Sorry to be a boring old fart but I still trade me Billy Bar (with my TA added sometimes) and oil. Billy Bar was easy today Busy reading old charts at present. {image}
No problem MrT, keep your charts as they are if they soothe you. Have you noticed though that lower Bunny Band,,, the candles hit it and did not bounce off up, they went down, Does this not tell you something lol. anyway good trade..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,557
  • Nov 3, 2015 7:36am Nov 3, 2015 7:36am
Quoting billytt
Cable, todays Daily Break. {image} an excellent example,,, I would of entered the break at No1 and then looked for 5 after spread... BUT why not see if it retraces, which it did and then enter No2. Obviously you do not know how far retrace will go but this time it went approx. 16 . SOOOOOOO just suppose you entered at 10 against the break,,, you would of got your 5 AND 10 = 15 after spread.. This is actually a good way to trade for a beginner... Forget about losing a trade when a break carries on, as the extra amount of points you make will cover....
Thanks Mr B, for your patience and your time, I am taking all this on board and I am so grateful.
  • #5,558
  • Nov 3, 2015 8:00am Nov 3, 2015 8:00am
I am still watching E/J , it broke low then retraced and then started to drop again but hasn't quite made it lol. Good to study
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,559
  • Nov 3, 2015 8:15am Nov 3, 2015 8:15am
I have just realised, E/J broke daily low a lot earlier this morning and then retraced . It has dropped but not enough to gain the 5. lets see.

edit,,, I just edited as I got my times mixed up, Trade is still an excellent live example
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,560
  • Nov 3, 2015 8:18am Nov 3, 2015 8:18am
Quoting billytt
I have just realised, E/J broke daily low just before 11-00 and then retraced up to approx. 18. It has dropped but not enough to gain the 5. lets see.
:nerd:
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