Billytt Die happy trading e/j daily breakout | Page 299 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #5,961
  • Jan 8, 2016 5:51am Jan 8, 2016 5:51am
We have the NFP out of the way. The spike retraces can normally be traded with no problem. I left it alone. I have shut down Pc until Monday so let the weekend begin. Hope anyone who traded made good points, Be good.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,962
  • Jan 8, 2016 7:12am Jan 8, 2016 7:12am
Quoting claudia1
Off we go again looking for round number area. {image}
​Claudia I keep seeing your breakout boxes. where do you set them - ie. is it based on a certain time or on a candle formation?
  • #5,963
  • Edited 9:48am Jan 8, 2016 9:28am | Edited 9:48am
Quoting tomthepoppop
{quote} ​Claudia I keep seeing your breakout boxes. where do you set them - ie. is it based on a certain time or on a candle formation?
Difficult one to explain but I'll try. Basically I'm looking for a ranging market of say 25 to 30 points over a few hours on g/u. The longer it ranges the better the break out usually.

This happens quite often overnight my time (UK) when market can be slow. Simple as that.

It's very similar to something FXHard traded I recall talking to him about it ages ago and he did develop an indi. Hanover has something similar too. I set mine manually.

Edit: here you go not exactly what I do but close and worth a look http://www.forexfactory.com/showthread.php?t=302007
  • #5,964
  • Jan 8, 2016 11:26am Jan 8, 2016 11:26am
Quoting claudia1
{quote} Of course I don't mind. Your analysis to me is very good. Still say you don't need BB's but if you comfortable with them as Rabbit is then so be it - your choice not mine! You should be making money consistently by now. The only thing that will hold you back is you and that's not meant as a criticism. Good luck in 2016.
Thanks Claudia and Billy

I looked at the 3 minute Dow earlier today, noted a spinning top/hesitation below a 0050 and noted earlier bounce off Pivot. Walked away and just looked at it a few minutes ago. Note previous Daily Low.
Attached Image (click to enlarge)
Click to Enlarge Name: DowFri.jpg Size: 317 KB
every Saint has a past. Every Sinner has a Future
  • #5,965
  • Jan 8, 2016 11:38am Jan 8, 2016 11:38am
A video for you high speed traders ( ignore the paid for course advertising)

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #5,966
  • Jan 8, 2016 12:07pm Jan 8, 2016 12:07pm
[quote=claudia1;8679693]{quote} Difficult one to explain but I'll try. Basically I'm looking for a ranging market of say 25 to 30 points over a few hours on g/u. The longer it ranges the better the break out usually. This happens quite often overnight my time (UK) when market can be slow. Simple as that. It's very similar to something FXHard traded I recall talking to him about it ages ago and he did develop an indi. Hanover has something similar too. I set mine manually. Edit: here you go not exactly what I do but close and worth a look http://www.forexfactory.com/showthread.php?t=302007[/quote] Thanks Claudia I am checking their sites out now.
  • #5,967
  • Jan 8, 2016 6:20pm Jan 8, 2016 6:20pm
Quoting tomthepoppop
Quoting claudia1
{quote} Difficult one to explain but I'll try. Basically I'm looking for a ranging market of say 25 to 30 points over a few hours on g/u. The longer it ranges the better the break out usually. This happens quite often overnight my time (UK) when market can be slow. Simple as that. It's very similar to something FXHard traded I recall talking to him about it ages ago and he did develop an indi. Hanover has something similar too. I set mine manually. Edit: here you go not exactly what I do but close and worth a look http://www.forexfactory.com/showthread.php?t=302007[/quote]
...
Here's a set up forming from yesterday on g/u.

Price been stuck in a 20 point range for 20 x 15 min bars. Only thing I would add is we are approaching a major level at 4500 might take some breaking.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 27 KB
  • #5,968
  • Jan 9, 2016 2:46pm Jan 9, 2016 2:46pm
Dear Billytt,

I have recently started trying to trade Forex seriously after losing some money trying to do so a couple of years ago. The main reason I was put of was not so much due to the money loss but what appears to have been a very complex business to enter and stay on top of. Thankfully after reading a number of articles as well as coming across your post, I do feel, it is now the right time to give it another try. Like most people I have a job that pays the bills. How wonderful it would be to have a trading system that not only allows me to work for myself but also allows, hopefully, one day to share my knowledge for the benefit of others, as you do.

Apologies for the ranting above but I do have a few questions regarding the process if I may?

Firstly I have managed to read up to page 52 of this great thread and am hoping to go through at least the same tomorrow ( wife permitting!)

 

  1. I noticed that the tread advises on trading the daily open but there are a lot of charts with 15 min, 5 mins etc so would be grateful if you could advise on which chart I should use.
  2. When deciding on the direction, do you also consider the wick of the candle?
  3. Am I correct you only consider the previous days candle relevant if it has 25pips
  4. Out of curiosity how long does it normally take for the 5 pips to materialise? The reason I ask this question is that I live in the UK and would like to understand at what time I can realistically finish for the day
  5. Is there any reason that the 12.00am time session is chosen?

By the way, the idea of opening 2 trades is really good allowing a banking of 5 pips and hopefully the second trade to reap some more pips.

Apologies if my email appears to be to demanding - that is not my intention.

Regards BL.

  • #5,969
  • Jan 10, 2016 9:14am Jan 10, 2016 9:14am
[quote=BlazeLegion;8680907]Dear Billytt, I have recently started trying to trade Forex seriously after losing some money trying to do so a couple of years ago.
Yes indeed, very demanding, goodbye.. ha ha
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,970
  • Jan 10, 2016 9:16am Jan 10, 2016 9:16am
[quote=BlazeLegion;8680907]Dear Billytt, I have recently started trying to trade Forex seriously after losing some money trying to do so a couple of years ago.


JOKING, Hello Blazelegion and welcome, Ask as many questions as you like and I shall gladly answer them and I know the others will help too.. Next post I will answer more so as to keep posts short...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,971
  • Jan 10, 2016 9:22am Jan 10, 2016 9:22am
Blaze, First of all the thread is DAILY BREAKOUT but we also add the 04-00 and sometimes 12-00 breakout on 4 hour candle.
We also speak about Daily and sometimes 4 hour inside/outside bars. We also have invaluable information off the others from pin bars to consolidation breakouts and these can be on any time frame...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,972
  • Edited 9:59am Jan 10, 2016 9:39am | Edited 9:59am
Blaze,,, I traded Daily Break (or did) on E/J and G/U only ...
E/J and G/U STATS are very good going back years and years. Stats are very important as you can then work out percentages/odds etc.
You have to feel comfortable whether you trade 100 0r 1000 and when you realise how the machine works you can then trade hard and even compound.

Attached Image (click to enlarge)
Click to Enlarge Name: gu2005.PNG Size: 26 KB

a random chart from 2005, notice the wicks. I have not looked at them yet but will add adjusted chart.

edit. that chart above... it had 19 trades and 19 wins. No trades less than 10 pips lol.
We do have losers but that is another tale.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,973
  • Jan 10, 2016 10:18am Jan 10, 2016 10:18am
Blaze, chart for G/U last 2 weeks ... 11 trades 10 wins of at least 10 pips.. 1 loss and that was last Friday
Attached Image (click to enlarge)
Click to Enlarge Name: 11.PNG Size: 26 KB

Don't forget, the low/high gets broken and then quite often it retraces so money management.method is crucial and that is the hard part as you need a good plan..

edit,, the 2 circled candles are weekend and I do not want to confuse you yet
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,974
  • Jan 10, 2016 12:12pm Jan 10, 2016 12:12pm
Thank you very much for that. I shall log onto my PC tomorrow around 11.30 to hopefully get getting for the daily breakout.

I look forward to learning from you and everyone else on this thread.
Regards BL.
  • #5,975
  • Jan 10, 2016 3:50pm Jan 10, 2016 3:50pm
Quoting BlazeLegion
Thank you very much for that. I shall log onto my PC tomorrow around 11.30 to hopefully get getting for the daily breakout. I look forward to learning from you and everyone else on this thread. Regards BL.
The Daily Break can happen at any time, During the Asian session usually more sedate and bigger better moves when UK market open
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,976
  • Jan 10, 2016 4:01pm Jan 10, 2016 4:01pm
On Sunday open we normally have GAPS, these can be traded back to the Friday close price. I do not do this.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,977
  • Jan 10, 2016 4:04pm Jan 10, 2016 4:04pm
A/U the Sunday range is quite big 45 points. I will not trade off this. So I wait until the 04-00 4 hour candle to close. This is not DAILY BREAKOUT Trading.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,978
  • Jan 10, 2016 4:11pm Jan 10, 2016 4:11pm
Thanks Bill currently war Hong the candle on the daily chart for Euro Jpy.

Regards BL
  • #5,979
  • Jan 10, 2016 4:20pm Jan 10, 2016 4:20pm
Quoting BlazeLegion
Thanks Bill currently war Hong the candle on the daily chart for Euro Jpy. Regards BL
E/J I just looked, Fri daily low was broken for 34 minus spread, a good trade. Sunday Range is good to trade the Daily Break. It could drop to the oo, But be wary of it being over sold
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,980
  • Jan 10, 2016 4:43pm Jan 10, 2016 4:43pm
Thanks Bill and apologies for the atrocious spelling in my last reply - blame it partly on this unearthly hour!

Regarding e/j I cannot see any real breakout at the moment or am I missing something?

Regards BL
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