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Billytt Die happy trading e/j daily breakout

  • #9,761
  • Aug 15, 2016 8:14pm Aug 15, 2016 8:14pm
[quote=PippyTheGrt;9084632]{quote}{quote} Thanks for the explanation Billy. I've been lurking here for a while and skimmed through the thread and now I've got a question related to your explanation above.

hello again, almost 02-00 here. Fri 12th was a double fail, (high fail, low fail,) then high good and before that was 18th July then 20th May (9 this year). If you have 2 fails I would recommend you close trade and wait for next day. I Don't . I don't trade every trade and I have a choice between A/U and Cable. It is easy to work out what I do and I will tell you part as I have told everyone else here.
1st you need a decent range on the 04-00 candle and preferably no news. if you hit a fail open another trade the opposite direction, you can then either then wait until next trigger or open another lot. You just need to keep the first loss in limbo . Next trigger can be high /low following day or high/low of the daily or an inside bar break.or a correlated pair entry. ANd a big bank roll to bully the trade. It works but you need the trigger?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,762
  • Aug 15, 2016 8:25pm Aug 15, 2016 8:25pm
[quote=PippyTheGrt;9084689]
Quoting billytt
{quote} Thank you sir, looking forward to it. Have fun !
I actually stuck a small trade on to show you how I could make it right but it went in lol for 6 points. also I sometimes have 2 trades open on a trigger, one for 5 points and the other to run.it is all to do with increasing the balance from various sources.
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edit, I do not normally trade off the 20-00 candle, this was an example which I thought would fail, (never think)it is dangerous.
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,763
  • Aug 15, 2016 8:58pm Aug 15, 2016 8:58pm
[quote=PippyTheGrt;9084689]
Quoting billytt
{quote} Thank you sir, looking forward to it. Have fun !
the above trade, I got 5 and then it retraced before getting +10, SO I re entered on the low at 7671 ,I could of re entered anywhere in the circled area for extra points. obviously we didn't know how high it would go .it dropped then we got that green candle so I closed for £12, that was a free bet as I had the odds.
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Remember, if you get a fail , re enter on the other trigger and keep the losing one in limbo because it usually makes %%%
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,764
  • Aug 16, 2016 1:59am Aug 16, 2016 1:59am
Trade well all, 07-58 almost ding ding. A/U range is 43 so that one I will leave. Lets see what Cable can do. Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,765
  • Aug 16, 2016 2:19am Aug 16, 2016 2:19am
t 08-17 Cable dropped +8, this was enough for my +5 but I actually got +6. That extra point helps for the future. (20%)
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I show the 2 min chart so you can see better. Trade well all, I am done.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,766
  • Aug 16, 2016 2:26am Aug 16, 2016 2:26am
Cable, t08-24. +10 not made so nothing wrong with entering again in circled area. this can also be a trading method. that way you can have a smaller stop (if used)
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,767
  • Edited 6:08am Aug 16, 2016 2:34am | Edited 6:08am
Cable, like last post. Nothing wrong with shorting in this area within the 04-00 range. If it fails you will lose less (if using stop) if it wins you gets a lot more %%%.
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edit, this would of failed
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,768
  • Aug 16, 2016 4:04am Aug 16, 2016 4:04am
Quoting billytt
Quoting PippyTheGrt
{quote}{quote} Thanks for the explanation Billy. I've been lurking here for a while and skimmed through the thread and now I've got a question related to your explanation above. hello again, almost 02-00 here. Fri 12th was a double fail, (high fail, low fail,) then high good and before that was 18th July then 20th May (9 this year). If you have 2 fails I would recommend you close trade and wait for next day. I Don't . I don't trade every trade and I have a choice between A/U and Cable. It is easy to work out what I do
...
Thanks Billy. I will let that sink in for a bit.
Meanwhile, the GU short was a fail so you'd have a hedge 1.2892 - 1.2925 (33 pips)
The low was a retest of the daily low.
A long from the high would have had 68 pips so far.
Long from the high -> 33 pips hedge
Another long after the flag (1.2942-ish) would have netted 50-ish pips max which is enough to compensate the hedge and get some profit (10 pips ?)

EDIT in case you went in with 50% size and added to the short as per the post above the hedge would have been smaller indeed, so break even point reached earlier.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #9,769
  • Aug 16, 2016 5:42am Aug 16, 2016 5:42am
Here's the Cable chart at 11:41. Failed short ? Nice long :-)
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every Saint has a past. Every Sinner has a Future
  • #9,770
  • Aug 16, 2016 5:51am Aug 16, 2016 5:51am
[quote=PippyTheGrt;9085865]{quote}{quote} Thanks Billy. I will let that sink in for a bit. Meanwhile, the GU short was a fail so you'd have a hedge 1.2892 - 1.2925 (33 pips) The low was a retest of the daily low.

morning PippyTheGrt,
Today 16th, Cable low broke for 8 (pre spread) and then retraced up. The low break made +5, that is what I wanted. The actual +10 (for stats) was not made. So we had a fail even though I made %%%%.
If I had not made +5 I would then go Long at 12926. If we have a fail we then have an excellent chance of getting 20+ on the reverse ALSO we can look for the modest Daily Range. I say this time and time again , not just today. The 100 range was made.
With the second trade we can either just trade normal to keep the negative trade in limbo or trade another lot
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I put 2 min chart so you can see.
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4 hour chart showing modest 100 range made. A = 04-00 candle
Think of a battle, we send in a lot of fighters to beat a few OVERPOWER THEM. we have a few casualties but we win the battle. unless they nuke us lol.. Trade well Don't forget the extra points we make sometimes.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,771
  • Aug 16, 2016 5:52am Aug 16, 2016 5:52am
Quoting turnip15
Here's the Cable chart at 11:41. Failed short ? Nice long :-) {image}
Failed short still got +5
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,772
  • Aug 16, 2016 6:07am Aug 16, 2016 6:07am
Quoting billytt
Cable, like last post. Nothing wrong with shorting in this area within the 04-00 range. If it fails you will lose less (if using stop) if it wins you gets a lot more %%%. {image}
obviously that would of failed if traded but you would of had less losing points. Hope you see this as another method to try.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,773
  • Aug 16, 2016 6:08am Aug 16, 2016 6:08am
Quoting billytt
{quote} Failed short still got +5
Thanks for your explanation again
Using modest ADR makes sense, I noticed that you mentioned that throughout the thread. Important aspect to keep in mind methinks because that provides some guidelines what to look for.

Had +10 on GJ and +5 on AJ earlier on, same as yesterday.

Great stuff, this.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #9,774
  • Aug 16, 2016 6:12am Aug 16, 2016 6:12am
going for a run then lifting some weights in gym (my garage). ​ Dancing tomorrow. My wife wants me to go Rock n Rolling again as some of the girls were asking yay, i'll be wearing an Elvis wig next lol. I'm all shook up​
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,775
  • Aug 16, 2016 6:13am Aug 16, 2016 6:13am
Quoting billytt
{quote} obviously that would of failed if traded but you would of had less losing points. Hope you see this as another method to try.
Yes I can see that.
Some say one shouldn't increase size when the trade goes against you, but that is relative to the capital % at risk. If you start with 50% of your standard lot size that you would normally risk, then it only makes sense doesn't it. You either have a better entry price by scaling in (because that's what it is) and if it goes against you, you have a smaller loss. The downside is you have a smaller lot size in the likely case it goes to +5 straight away. TANSTAAFL lol.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #9,776
  • Aug 16, 2016 6:27am Aug 16, 2016 6:27am
[quote=PippyTheGrt;9086152]{quote} Yes I can see that. Some say one shouldn't increase size when the trade goes against you, but that is relative to the capital % at risk.


Exactly. I knew already about retrace entries but I think Tom or David mentioned it in here and we are all learning new stuff.
Speaking Retrace entry, It usually breaks a high/low and will normally stall and retrace a bit. even a couple of points, Even 1 humble pip = 20% of your +5. Same with a fail, if it gets to within 5 of the opposite end it has big chance of going in. I tend not to trade this unless we have clues ie daily pivot, 00 etc
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9,777
  • Aug 16, 2016 7:31am Aug 16, 2016 7:31am
Quoting billytt
{quote} Failed short still got +5
Yes - I was referring to 10 pips profit. But you got your five :-)
every Saint has a past. Every Sinner has a Future
  • #9,778
  • Aug 16, 2016 9:47am Aug 16, 2016 9:47am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow1.png Size: 46 KB


Shorting banked pips.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,779
  • Aug 16, 2016 10:32am Aug 16, 2016 10:32am
Quoting TooSlow
{image} Shorting banked pips.
WTF !!
every Saint has a past. Every Sinner has a Future
  • #9,780
  • Aug 16, 2016 10:47am Aug 16, 2016 10:47am
Quoting turnip15
{quote} WTF !!
Shorting at the D1[1] previous day's low.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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