Billytt Die happy trading e/j daily breakout

Cable is teasing breaking the high lol ... time 08-26

edit, it made the =10

who said it looks like a down day .. a long way to go. trade your triggers.

and the Cable at 0844 - got the ten

A/U the break for +10 did happen. I gave up waiting lol, I wasn't going to stay in all day for £50.
Todays range is very small .even though it is 18-00 now anything can happen in next 4 hours. If it doesn't hopefully it wont gap and Monday maybe Tuesday it will have a good move.

A = 04-00 candle

Cable, It went up got the +10 and then made the modest 100 range. Funny thing is trading. I did n ot trade it but that +10 is an awesome method.


A = 04-00 candle

You beat me to it William :-)
Posted 18:14 pm

Good thinking Tom.
Like Billy etc -go for ten pips which is far more likely to be achieved than trying for more. I see you have an hourly chart -do you use a smaller time frame to enter/exit the trade?

Thanks Turnip - I use the 30 min and 1 hour timeframes - seem to be easier for me to deal with. They both give same result since I am just using the Open of the 8am and 20 pm candle.

lol,,, I can't

Hi all.
Am new on this thread and really liking the energy and humour on it plus loving the relative simplicity of the method.
It also seems to fit well for my daily routine where i am up around 7am each day. I have read quite a bit of this long thread and method seems to have adapted over time.

Focus now seems to be on 4 hour charts taking target 10 pips on breakout of the 4.00-8.00 am bar.

Is this correct?

Few questions i was hoping someone could help with :

1. i noticed that you define a range - this looks to be the 4am and previous bars combined. Is this correct? What do you use this range for if you are targetting 10 pips?

2. Do you set orders on break high and low of the 4am bar and cancel one on entry of other?

3. Stop loss -position - any tips welcomed

4. Any particular pairs work best?

I appreciate some of these questions are basic but any advice most welcomed.

My trading over past years has involved usual journey of indicators, different timescales and account balance that hovers just in profit.... This simple approach really does look good for me.


Thank you in advance

[quote=bluemosaic;8986688]Hi all. Am new on this thread and really liking the energy and humour on it plus loving the relative simplicity of the method.


Hello Bluemosaic and welcome, I/we shall answer any questions you have.
We do SIMPLE , whether it is the 04-00 break or trading to a 00 level or trading to the Daily Pivot (dp).
Right now I am busy (very odd) but I shall get back , Take Care and trade well.

Well we got a new week approaching and of course Brexit is going to be the main theme obviously.

Definitely a be careful week maybe keep away from gbp crosses as it will go silly.

Hello Blue - sure Billy will get back when he gets a chance. Mainly trades this on g/u and a/u.

hi Claudia and Billy. Thanks for the warm welcome to the thread - much appreciated. Look forward to hearing more info.
Thanks

Bluemosaic, a few answers...
1 Define range?? we have the range of the 04-00 4 hour candle and now I also add a modest Daily Range of 60,
This is based off the 00-00 candle and the 04-00 candle.

2. Unless I actually want to trade a specific direction I will set orders at high and low.

3, stop loss, I use a 20 stop for my stats but once in a trade I will adjust the stop, ( I will explain later).

4, Pairs to trade, A/U G/U and E/J , actually, probably all pairs are good I just do not know nor care lol.

chart is A/U 4 hour chart from 8th February ( a random chart)

A = 04-00 candle High is 7115 and low 7080, so the range is 35. I prefer a shorter Range though 25/30 but still good.

Bluemosaic,,,, this is what happened

1 = 00-00 Candle. the low is 7074. SO add 60 for the modest 60 daily range high =7134.
2 = 04-00 candle.
3 = 08-00 candle.the high is 7129. SO minus 60 for the modest daily range low 7129 - 60 = 7069

edit. the 04-00 high was broken for +10 and then it almost made the daily range then retraced.

and then the 0-4-00 candle low was broken for +10 and the modest daily range was hit for a few extra BUT , wait for next chart

Bluemosaic, this is what happened, remember the trade runs into the following day

getting the 5 points as I do is only a start, looking for the daily range is the bigger provider if using smaller lot size

edit, A = 04-00 candle from 1st trade

Got a bit of a gap on cable open! Has to be worth a cheeky short. Edit: lol quick £150 before the day starts. Deserve a glass of.

lol, same here I did a quick one with A/U. I only did it because my trader friend is here encouraging me .
I made less than you Claudia but my friend made a big amount. She calls me a part timer.

yay, I love FF