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Billytt Die happy trading e/j daily breakout

  • #9,461
  • Edited 1:59am Jul 31, 2016 12:11am | Edited 1:59am
Hi all, hope you're well and enjoying our weekend,

I have re read many posts here, great stuff , studied the pivots book too, well the first 200 pages,

Ready to get back to the breakouts......Cheers all
Onwards and upwards...
  • #9,462
  • Edited 2:00am Jul 31, 2016 12:15am | Edited 2:00am
Quoting claudia1
{quote} Was selling all day from around 10.00 am London time but got really lucky later on. Last few trades made it running in to FOMC. Could have gone the other way and did. {image}
Nice work Claudia...

I have ha a really enjoyable study of your charts.....v v interesting

You seem to be selling all the time, how do you arrive at the trade direction decision..?? any info would be greatly welcomed

Thanks SF
Onwards and upwards...
  • #9,463
  • Jul 31, 2016 12:24am Jul 31, 2016 12:24am
May be it is a stupid Q but just to know : Counter Trade is something like Short Covering ?​
If dont, could you explain differences ?
  • #9,464
  • Jul 31, 2016 3:30am Jul 31, 2016 3:30am
Quoting billytt
​t 03-50 here and I helped out at my friends club (yet again). I speak of stats, I do not use them in the same way as you play poker whereby you have 52 cards and you can work out odds/percentages once you see played cards, same with blackjack. The Daily Break , 04-00 Break and Daily Inside Bars have massive odds of making 10 /20 pre spread. Claudia says she doesn't use stats as such but the stats say Daily Pivot has big odds of being hit and when a 00 is close ,that too has big odds of being hit. (stats) Stats show how long a losing streak...
As usual very concise and useful.
I start to keep keep stats for 4H, Daily Break and IB Daily.
And one more time thanks to give some lights to fish like me ....

SB
trying to make everyday the best risk/reward decisions possible
  • #9,465
  • Jul 31, 2016 3:46am Jul 31, 2016 3:46am
Quoting slowbrain
{quote} As usual very concise and useful. I start to keep keep stats for 4H, Daily Break and IB Daily. And one more time thanks to give some lights to fish like me .... SB
no problem SB and good morning, look at a stat too like a football team at top of league playing a team close to the bottom. The top team will show good stats at mainly winning these lower placed teams BUT sometimes will draw AND sometimes lose.
When I trade i expect to lose and I have a second plan. Hope this makes sense.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,466
  • Jul 31, 2016 9:58am Jul 31, 2016 9:58am
Quoting soccerfan
{quote} Nice work Claudia... I have ha a really enjoyable study of your charts.....v v interesting You seem to be selling all the time, how do you arrive at the trade direction decision..?? any info would be greatly welcomed Thanks SF
Thanks.

How do you answer that in a few words! I do buy from time to time just not last week very much.

I basically look at numbers, where the price has been should give a guide to where it's going.

Avoid high impact news and wait 30/60 mins often get a retrace.

Watch the daily pivot - unless market is in a steep move up or down it often gets hit and can provide intra day support/resistance.

Look for consolidation areas and subsequent breakouts.

Breaks of intra day 'trend lines' can be useful.

Watch the big numbers 00/50. If it breaks the 20 on the way down good chance it will go to the 00 area. Same with 80 on the way up

Previous days high/low are often good targets.

Keep an eye on different time frames. Mainly I use 60 min, but like the 15 and 5 for entry confirmation.

Also I tend to stick mainly with one pair.

Finally keep stats - Billy made a good post above and he's right.

Put it all together you got might have some sort of a system!
  • #9,467
  • Jul 31, 2016 10:17am Jul 31, 2016 10:17am
Quoting xian
May be it is a stupid Q but just to know : Counter Trade is something like Short Covering ?​ If dont, could you explain differences ?
Short covering is closing a losing position. Counter trend is trading against the trend in anticipation of a reversal.
  • #9,468
  • Jul 31, 2016 3:20pm Jul 31, 2016 3:20pm
trade well all, new week and almost a new month.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,469
  • Jul 31, 2016 3:24pm Jul 31, 2016 3:24pm
Quoting xian
May be it is a stupid Q but just to know : Counter Trade is something like Short Covering ?​ If dont, could you explain differences ?
Hi, Claudia explained it. I say I counter trade and my friend says that isn't a counter trade lol.
If I am wrong at least I know what I mean
If I am Long and then open a short (long still open) I call that a counter trade and vice versa.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,470
  • Jul 31, 2016 3:32pm Jul 31, 2016 3:32pm
Quoting billytt
{quote} Hi, Claudia explained it. I say I counter trade and my friend says that isn't a counter trade lol. If I am wrong at least I know what I mean If I am Long and then open a short (long still open) I call that a counter trade and vice versa.
What you do I would call recovery trade or even hedging. Doesn't matter what you call it as long as it works.
  • #9,471
  • Jul 31, 2016 3:39pm Jul 31, 2016 3:39pm
[quote=claudia1;9059627]{quote}What you do I would call recovery trade or even hedging. Doesn't matter what you call it as long as it works
lol, I used to say Hedge and my friends says that too wasn't a hedge , but you are right if it works I can call it what I like.i would not get far in an exam.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,472
  • Jul 31, 2016 3:48pm Jul 31, 2016 3:48pm
[quote=billytt;9059638]
Quoting claudia1
{quote}What you do I would call recovery trade or even hedging. Doesn't matter what you call it as long as it works lol, I used to say Hedge and my friends says that too wasn't a hedge , but you are right if it works I can call it what I like.i would not get far in an exam.
I love fx peace army. Why do people keep giving 10's of thousand to these binary option firms Most of them are Russian or Israeli and unregulated (or regulated in Cypress which is a waste of space).
  • #9,473
  • Jul 31, 2016 6:30pm Jul 31, 2016 6:30pm
​A/U Sunday range was 15, a nice easy one to play with, chart was made after the break, time 02-29
Attached Image

A = Sunday 4 hour candle.
If it retraces up I will enter on the High Break.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,474
  • Jul 31, 2016 6:39pm Jul 31, 2016 6:39pm
time 02-38
A/U short closed for +5, it did not quite make the +10 for stats but probably will, I just made a humble 50 yay, I do this almost every day.
Attached Image

edit, t02-43, it has now made the + 10
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,475
  • Jul 31, 2016 10:40pm Jul 31, 2016 10:40pm
​New week !!!!! Hope you all are OK.
Thx a lot Billy and Claudia for your answers !!!
  • #9,476
  • Jul 31, 2016 11:20pm Jul 31, 2016 11:20pm
Quoting billytt
time 02-38 A/U short closed for +5, it did not quite make the +10 for stats but probably will, I just made a humble 50 yay, I do this almost every day. {image} edit, t02-43, it has now made the + 10
​Friday´s High broken too
  • #9,477
  • Aug 1, 2016 12:08am Aug 1, 2016 12:08am
A/U I have a short on , t 08-08

A/U triggered before Cable, Cable low has just triggered t 08-10 but I am not with it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,478
  • Aug 1, 2016 12:53am Aug 1, 2016 12:53am
Quoting claudia1
{quote} Thanks. How do you answer that in a few words! I do buy from time to time just not last week very much. I basically look at numbers, where the price has been should give a guide to where it's going. Avoid high impact news and wait 30/60 mins often get a retrace. Watch the daily pivot - unless market is in a steep move up or down it often gets hit and can provide intra day support/resistance. Look for consolidation areas and subsequent breakouts. Breaks of intra day 'trend lines' can be useful. Watch the big numbers 00/50. If it breaks the...
Thanks very much for your answer, Claudia, much food for thought and you are very helpful to us mere mortals,

your words and advice are very much appreciated, more study for me methinks....
Onwards and upwards...
  • #9,479
  • Aug 1, 2016 1:05am Aug 1, 2016 1:05am
Cable 4 am break ( posted 09:04 am)

Got a ten
Attached Image (click to enlarge)
Click to Enlarge Name: Billy0903.jpg Size: 514 KB
every Saint has a past. Every Sinner has a Future
  • #9,480
  • Aug 1, 2016 1:05am Aug 1, 2016 1:05am
​t 09-04 cable made +10 and it looks like it broke the 4 hour trend line so hopefully it will keep dropping. I am still short on A/U and just watching Cable.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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