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Billytt Die happy trading e/j daily breakout

  • #7,941
  • Apr 6, 2016 4:39am Apr 6, 2016 4:39am
Whilst in posting mode - this is my research 4 hour break cable dummy trade. Comment welcome
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every Saint has a past. Every Sinner has a Future
  • #7,942
  • Apr 6, 2016 4:42am Apr 6, 2016 4:42am
Mr T, I edited post 7939. look at it plz.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,943
  • Apr 6, 2016 4:55am Apr 6, 2016 4:55am
Quoting billytt
How about go with momentum. if the 04-00 candle closes green long it and if it closes red short it. Don't forget we are primarily trading off the Asian session. edit, Mr T, the above actually looks good. edi again, except so far today it is failed and yesterday the same lol
Oh well -back to the drawing board
every Saint has a past. Every Sinner has a Future
  • #7,944
  • Apr 6, 2016 5:45am Apr 6, 2016 5:45am
Quoting turnip15
Whilst in posting mode - this is my research 4 hour break cable dummy trade. Comment welcome {image}
if the low/high breaks for + 10, only trade it once. we only need 5 pips. looking for more is asking for trouble plus it drastically alters the stats,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,945
  • Apr 6, 2016 5:47am Apr 6, 2016 5:47am
Quoting turnip15
{quote} Oh well -back to the drawing board
using A/U that 04-00 candle is pretty easy to correct a bad trade. I think perhaps more study of the momentum should be looked at. Maybe when I finish what I am studying I may look into it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,946
  • Apr 6, 2016 6:34am Apr 6, 2016 6:34am
Quoting turnip15
{quote} @Billytt No, young William. Take the close of the 4 am, four hour bar, and imagine a horizontal line at that point ( the close). Then trade either side of that point for your five pips. Is that any clearer Billy ?
Turnip I know exactly what you are talking about and it works very well. I once, recently had a string of 34 winners in a row using that method with multiple pairs on demo. Tried it on real account and it also worked -- still doing it as well as 4hr break and daily break. It works. You can do it on 1hr 4hr and daily.
  • #7,947
  • Apr 6, 2016 10:07am Apr 6, 2016 10:07am
@Billytt
An example using the AUD today the 8 am to 12 am bar. The 4 hour bar close is indicated on the 4 hour and 5 Minute chart by the red cross-hair and white spots.
A margin either side (for example ) would get you into a reasonable trade.
The 5 minute chart is shown for possible management uses.

Comment welcome.
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every Saint has a past. Every Sinner has a Future
  • #7,948
  • Apr 6, 2016 1:48pm Apr 6, 2016 1:48pm
Quoting billytt
A/U time 08-43. at present the daily range is 37 and we know that the average is approx. 100 so looking at it in a conservative way we can expect to see at least 70 today.. so right now we have 30 to look for. so 7580 high or 7500 low

we got almost the full range with the high...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,949
  • Apr 6, 2016 1:50pm Apr 6, 2016 1:50pm
Quoting tomthepoppop
{quote} Turnip I know exactly what you are talking about and it works very well. I once, recently had a string of 34 winners in a row using that method with multiple pairs on demo. Tried it on real account and it also worked -- still doing it as well as 4hr break and daily break. It works. You can do it on 1hr 4hr and daily.
Hi tomthepoppop, I still cannot get my head around that very first trade after the close. From what I can see in my own way it looks good.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,950
  • Apr 6, 2016 4:21pm Apr 6, 2016 4:21pm
Quoting billytt
{quote} Hi tomthepoppop, I still cannot get my head around that very first trade after the close. From what I can see in my own way it looks good.
Billy - What got me started with trading the open of a candle was that they were all going more than 5 pips and a lot of times in both directions. So I said --Tom why not take advantage of the Open of the Candle? The answer was OK lets get it on. So I took the 1 hr candle and looked at the previous candle -- If it was "Red" at the open of the next bar I would go short 5 - 10 pips depending on whether it was early in the trend. I tried it on 1hr 4hr and Daily candles and it worked ALMOST all the time. But it was done without any Stop Loss so it was risky. I did finally have a loss because I had inadvertently left an order open while going to bed. But if you are able to watch it and use some discretion ie. trend, size of bar, ATR you will win. I sometimes now go for 7 pips wheeeee!!!!! I also use the Daily break and the 4 hr break thanks to you ---- actually it is all due to you, Turnip and Claudia. I watch and try to learn. Also Swingtrader65 is a good man to pay attention to. Even tho I browse some of the other threads yours is THE ONE that I try to pay attention to. Thanks
  • #7,951
  • Apr 7, 2016 12:29am Apr 7, 2016 12:29am
Quoting tomthepoppop
{quote} Billy - What got me started with trading the open of a candle was that they were all going more than 5 pips and a lot of times in both directions. So I said --Tom why not take advantage of the Open of the Candle? The answer was OK lets get it on. So I took the 1 hr candle and looked at the previous candle -- If it was "Red" at the open of the next bar I would go short 5 - 10 pips depending on whether it was early in the trend. I tried it on 1hr 4hr and Daily candles and it worked ALMOST all the time. But it was done without any Stop Loss...

Hi Tom,
do you have statistics about it ?

thanks
8flow
  • #7,952
  • Apr 7, 2016 3:15am Apr 7, 2016 3:15am
[quote=tomthepoppop;8858160]{quote} Billy - What got me started with trading the open of a candle was that they were all going more than 5 pips and a lot of times in both directions.

Hello tomthepoppop, Thanks for the explanation. We think the same, in your close then open of candle you always get profit. I am the same with Daily Break and 04-00 candle. My stats show +10 is almost guaranteed so I look for 5. If it were a guaranteed + 50 I would look for 40 (example).

edit,,,, before I post. I said always to keep it simple. Swingtrader is a top guy too.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,953
  • Apr 7, 2016 3:19am Apr 7, 2016 3:19am
Regarding the close then open candle. Todays A/U 04-00 candle. it closed at 7615 opened at 7615 moved up to 7616 then dropped. Or do I look for a close of a certain candle say 1 minute?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,954
  • Apr 7, 2016 3:26am Apr 7, 2016 3:26am
Daily Break Stats . The reason I look for 5 pips/% after spread etc is because I am almost guaranteed them.
Getting 20 has also good stats but yon need bigger bank to correct a bad trade.
I pay all my food bills,petrol, each week making 5 pips/% daily.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,955
  • Apr 7, 2016 3:28am Apr 7, 2016 3:28am
Quoting 8Flow
{quote} Hi Tom, do you have statistics about it ? thanks 8flow
Hi 8Flow, it is an interesting idea, hope you are good.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,956
  • Apr 7, 2016 3:33am Apr 7, 2016 3:33am
Quoting billytt
Regarding the close then open candle. Todays A/U 04-00 candle. it closed at 7615 opened at 7615 moved up to 7616 then dropped. Or do I look for a close of a certain candle say 1 minute?
Sure that happens an awful lot.

So much for keeping it simple
  • #7,957
  • Apr 7, 2016 3:47am Apr 7, 2016 3:47am
E/J Daily Break broke high +10, 04-00 candle broke low +10.....
Cable Daily Break , nothing happened yet..... 04-00 candle low broke for +10.
A/U ,,, Daily Break, high broke for +10 and the 04-00 candle low broke for +10.

A/U Daily was actually on an inside bar which broke High. It did manage 18 pre spread then obviously we had to short off the 04-00 that too worked lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,958
  • Apr 7, 2016 3:51am Apr 7, 2016 3:51am
Quoting FOURX
{quote} Sure that happens an awful lot. So much for keeping it simple
Hi Fourx, I think I am missing something, It has to be the trigger or time limit. I am currently looking at charts and it looks good but I am adding triggers after a retrace. I am doing this mentally lol, Hope you are ok.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,959
  • Apr 7, 2016 3:54am Apr 7, 2016 3:54am
oops almost forgot. A/U 04-00 candle break.. I did trade this 1 lot and it was a good trade
Funny thing was, The 04-00 range was quite big and I set up for the trade then decided to cancel it but too late . The trigger activated and it was ok lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #7,960
  • Apr 7, 2016 3:57am Apr 7, 2016 3:57am
A/U 04-00 candle. I have just been pinged. That candle was an outside bar so the low break was legitimate. pssssst I did know lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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