Billytt Die happy trading e/j daily breakout | Page 422 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #8,421
  • May 3, 2016 5:47am May 3, 2016 5:47am
Quoting claudia1
{quote} Hi David. I really don't know how to answer this as there are so many things to be considered and it is really down to individual circumstances. Help Billy!
I shouldn't really be saying this but hey ho,
I have 2 bank rolls, I have a little one of 1k just to make £50 per day and a second one, lets say it is limitless. Should the first bank roll get into trouble which is very rare but possible I will borrow from the big bank roll. Just like in life when we borrow from bank for a new car/house and then repay it.
I am not one for saying trade 5% of bank as if you have a bad method you will still lose it all.
50k is more than enough but be sensible and skim a bit of profit each trade and it will mount up, then buy a house and rent it out , like I did.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,422
  • Edited 6:35am May 3, 2016 6:21am | Edited 6:35am
Quoting DavidRP
{quote} yep I know but if we can have 100 a day maybe we need a 10.000... that's what I meant. Just based on your experience
​Hi David,

Depends what your objectives are and how effective your trading method is.

By how effective I mean the following:

 

  1. your win/loss ratio (must be >50%)
  2. ability to identify Low Risk High Reward trades (Risk Reward Ratio should always be >= 3:1 where reward is 3 and risk is 1)

The second item determines whether you will be able to use high leverage or not.

It ultimately determines the profitability of your trading method.

The sample report below is an example of a very effective trading method which allows traders to use very high leverage.

Notice the Profit Factor = 11.01 after only 10 trades!!!

Because my method has a very low margin of error on entry, my Rule of Thumb for Position Size is 1 lot/1$K equity such that on a 10$K account, my position size is 10 lots.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: FIA Demo - Cummulative Statement - 03.07.2016 through 03.13.2016.jpg Size: 226 KB
Click to Enlarge Name: FIA Demo - Cummulative Statement - 03.07.2016 through 04.21.2016.jpg Size: 233 KB
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #8,423
  • May 3, 2016 6:25am May 3, 2016 6:25am
Quoting billytt
{quote} I shouldn't really be saying this but hey ho, I have 2 bank rolls, I have a little one of 1k just to make 50 per day and a second one, lets say it is limitless. Should the first bank roll get into trouble which is very rare but possible I will borrow from the big bank roll. Just like in life when we borrow from bank for a new car/house and then repay it. I am not one for saying trade 5% of bank as if you have a bad method you will still lose it all. 50k is more than enough but be sensible and skim a bit of profit each trade and it will mount...
billyt,

thanks very much for your insights as always!
  • #8,424
  • May 3, 2016 7:26am May 3, 2016 7:26am
[quote=DavidRP;8905879]{quote} billyt, thanks very much for your insights as always![/quote

​Sorry I don't have an example with a 10$K account.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #8,425
  • May 3, 2016 7:38am May 3, 2016 7:38am
Cable and A/U both good with the 04-00 breakout without trouble. I keep saying how good that candle is, I did have my doubts today so left it..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,426
  • Edited 4:44pm May 3, 2016 8:37am | Edited 4:44pm
Quoting claudia1
{quote} this appears to be part of the problem {image}


Attached Image (click to enlarge)
Click to Enlarge Name: ind 5 min.JPG Size: 110 KB



Attached Image (click to enlarge)
Click to Enlarge Name: USD 05 03 A.JPG Size: 120 KB


for fun --- numerology
  • #8,427
  • May 3, 2016 9:00am May 3, 2016 9:00am
Quoting RabbitWolf
{quote} {image} {image}
HEY HEY HEY welcome back. Been a funny day didn't expect cable to go that way YET which of course has took u/cad north.
  • #8,428
  • May 3, 2016 10:01am May 3, 2016 10:01am
Rabbit is back,
Attached Image

praise the lord,,,,,,,,,,,,,,,,,,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,429
  • May 3, 2016 4:07pm May 3, 2016 4:07pm
Quoting Nitsan_Levi
{quote} The small time frame short out in take profit.... Now goona be a big fall from 8h sma400 to 8h sma200 *Dont say I dont told you {image}
Quoting Nitsan_Levi
{quote} GBP update: All ok with the short... price make a little sneak attack, and now the fall to sma200 shold start (from the false break) {image}

Quoting claudia1
{quote} According to your chart you were shorting from 4550 area. We currently around 4665. If that's 'all ok' with you then good luck.
As you can see my stop is in good price...position on profit,and by the end you will see the position will out in take profit..just need to wait


Quoting claudia1
{quote} HEY HEY HEY welcome back. Been a funny day didn't expect cable to go that way YET which of course has took u/cad north.
I told you big fall at GBP is coming.. ,also in my thread I speak on the cad long.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016___1887.jpg Size: 93 KB
  • #8,430
  • May 3, 2016 4:30pm May 3, 2016 4:30pm
Quoting Nitsan_Levi
{quote} {quote} {quote} As you can see my stop is in good price...position on profit,and by the end you will see the position will out in take profit..just need to wait {quote} I told you big fall at GBP is coming.. ,also in my thread I speak on the cad long. {image}
Yep we knew it was going to fall but you must be now at break even if held positions. Anyway hope it all worked out - feel like I'm shouting at you but I'm not and thanks for the reply.

Had a great start to the month with cable but been fighting !!

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: today.png Size: 10 KB
  • #8,431
  • May 3, 2016 4:47pm May 3, 2016 4:47pm
Quoting jackeollio
{quote} ​Hi David, Depends what your objectives are and how effective your trading method is. By how effective I mean the following: your win/loss ratio (must be >50%) ability to identify Low Risk High Reward trades (Risk Reward Ratio should always be >= 3:1 where reward is 3 and risk is 1) The second item determines whether you will be able to use high leverage or not. It ultimately determines the profitability of your trading method. The sample report below is an example of a very effective trading method which allows traders to use very...
It is such a difficult question to answer if not impossible. Been thinking on it all day.
  • #8,432
  • May 3, 2016 5:09pm May 3, 2016 5:09pm
@Lina hey great call on u/cad. Keep posting some charts please.
  • #8,433
  • May 4, 2016 1:59am May 4, 2016 1:59am
morning almost 08-00
Attached Image

one 04-00 candle A/U 31 range.
it breaks high long and breaks low short, that is the easy part lol. smash it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,434
  • May 4, 2016 2:04am May 4, 2016 2:04am
time 08-03, I just closed cable long for +5%. Still waiting for A/U now
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,435
  • May 4, 2016 2:11am May 4, 2016 2:11am
Cable, time 08-10, showing todays candles and expected modest range.
Attached Image


I am currently long with A/U, catch you later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,436
  • May 4, 2016 2:41am May 4, 2016 2:41am
A/U 04-00 with expected modest 60 range
Attached Image

I am still long with A/U ,,,time 08-41
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,437
  • May 4, 2016 2:45am May 4, 2016 2:45am
Magix has such an eloquent way of putting things I guess the guy got the message though!

'Much past the previous 2 nutsucks...you have made it to my iggy list. Have a nice, go fuck yourself!'
  • #8,438
  • May 4, 2016 3:04am May 4, 2016 3:04am
Cable, adjusted 100 range, based off low of 04-00 candle.
Attached Image

I am having fun with the A/U long not, Trade is on automatic
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,439
  • May 4, 2016 3:12am May 4, 2016 3:12am
Quoting billytt
Cable, adjusted 100 range, based off low of 04-00 candle. {image} I am having fun with the A/U long not, Trade is on automatic
It's at an interesting level for sure. Support going back to early March.

Cable - wait for the news as always. 4500 is going to be tough to break or is it as it just went through.
  • #8,440
  • May 4, 2016 3:39am May 4, 2016 3:39am
Quoting claudia1
{quote} It's at an interesting level for sure. Support going back to early March. Cable - wait for the news as always. 4500 is going to be tough to break or is it as it just went through.
I thought something was afoot as broker adjusted minimum trade lot.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
63 traders viewing now