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Billytt Die happy trading e/j daily breakout

  • #10,301
  • Sep 2, 2016 11:25am Sep 2, 2016 11:25am
Quoting wannalearn12
{quote} How do you interpret information regarding the DP? This is so much more fun than my engineering calculus that is going to destroy me later.
DP is high/low/close of previous candle and divided by 3. (if I remember). Just lately I use brokers dp but I do not rely on much unless I am compounding or letting a trade run.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,302
  • Sep 2, 2016 11:28am Sep 2, 2016 11:28am
Quoting claudia1
Good start to the month. {image}
same here I got about £150/160 off Dax with £1 and £2 per point plus my normal £50 per day with a tenner.

and I traded a couple of bad trades, something isn't right.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,303
  • Sep 2, 2016 11:29am Sep 2, 2016 11:29am
Quoting claudia1
{quote} Then go buy some parrots maybe they can talk the trades
Anything is possible on this thread
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #10,304
  • Sep 2, 2016 11:32am Sep 2, 2016 11:32am
Quoting wannalearn12
{quote} How do I deal with the trade when it fails? Do I just cut my losses if it is weak, say it never goes into profit, and go work another pair to make the money back?

Only way you can deal with a bad trade is either close it or counter/hedge it.
If for instance you get to -30 counter it until next legitimate trigger, (NO GUESS WORK) then adjust lot size or fix it over the next day or two
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,305
  • Sep 2, 2016 11:32am Sep 2, 2016 11:32am
Quoting wannalearn12
{quote} Thank you I will start taking down data over the next year and see what happens. I do see the dr1 r2 and so fourth as great tp's so far. I am still young and have lots of time, I hope 'P
Forget data once you got it it's history. Learn support/resistance ignore indicators and learn price movement. Ask a million questions. Just keep it simple - am I right William?
  • #10,306
  • Sep 2, 2016 11:33am Sep 2, 2016 11:33am
Quoting claudia1
Good start to the month. {image}
Excellent madam yet again ......
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,307
  • Sep 2, 2016 11:37am Sep 2, 2016 11:37am
Quoting billytt
{quote} Excellent madam yet again ......
Thanks. I'm working long hours mainly 13.30 on until midnight as needed. Can't recall a losing day. lol tomorrow here we come
  • #10,308
  • Sep 2, 2016 11:37am Sep 2, 2016 11:37am
Quoting billytt
{quote} Only way you can deal with a bad trade is either close it or counter/hedge it. If for instance you get to -30 counter it until next legitimate trigger, (NO GUESS WORK) then adjust lot size or fix it over the next day or two
So literally trading against the same position- say I go in with a usual 1.0 long it goes south -30, I trade against the pair with a 2.0-3.0 until it is right / profit.
  • #10,309
  • Sep 2, 2016 11:38am Sep 2, 2016 11:38am
[quote=turnip15;9117268]{quote} Is this the sort of two hour section you are looking at Billy,,

No, I use the UK time 06-00 2 hour candle..
IT opens at 06-00 and closes at 08-00.
Just like A/U and Cable, once the high/low is triggered trade it.
I know Frankie opens at 07-00 but I disregard this. also I know the Asian session closes at 09-00 ,I disregard this.
I use the 2 hour candle because the range is a lot lower than the 4 hour candle.
I am trying to simplify the trading.
Most of these Dax trades I have done were not made off breaks but scalping with high/low as clues to aim at.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,310
  • Sep 2, 2016 11:39am Sep 2, 2016 11:39am
Quoting turnip15
{quote} Anything is possible on this thread {image}
What can you say .....
  • #10,311
  • Sep 2, 2016 11:39am Sep 2, 2016 11:39am
Quoting turnip15
{quote} Reading young Williams's posts, he seems to suggest taking in the two hour period between 6 am and 8 am ?
yes
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,312
  • Sep 2, 2016 11:43am Sep 2, 2016 11:43am
Quoting claudia1
{quote} Taking a loss on first trade is good as then the compounding procedure begins and in reality that's where the money is. Billy knows what I mean.
correct, every trade I make I expect to lose. It doesn't happen though
The trade that does go bad is the big winner due to lot size increasing .​
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,313
  • Sep 2, 2016 11:44am Sep 2, 2016 11:44am
Quoting wannalearn12
{quote} Thank you I will start taking down data over the next year and see what happens. I do see the dr1 r2 and so fourth as great tp's so far. I am still young and have lots of time, I hope 'P
YOUNG ???? what is this, do we allow it in here yay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,314
  • Sep 2, 2016 11:45am Sep 2, 2016 11:45am
Quoting turnip15
{quote} Anything is possible on this thread {image}
yay, I like it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,315
  • Sep 2, 2016 11:45am Sep 2, 2016 11:45am
Quoting billytt
{quote} correct, every trade I make I expect to lose. It doesn't happen though The trade that does go bad is the big winner due to lot size increasing .​
I do it every day. My entries are appalling but the worse they are the better the end result.
  • #10,316
  • Sep 2, 2016 11:48am Sep 2, 2016 11:48am
Quoting claudia1
{quote} Forget data once you got it it's history. Learn support/resistance ignore indicators and learn price movement. Ask a million questions. Just keep it simple - am I right William?
correct, I keep data but nothing regarding indies etc exclude dp. As long as I see patterns
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,317
  • Sep 2, 2016 11:50am Sep 2, 2016 11:50am
Quoting billytt
{quote} correct, I keep data but nothing regarding indies etc exclude dp. As long as I see patterns
Are you going to let David have a go at coding 'Billy Bar' might be interesting.

I've given him source code for the e/j daily break. Silly not to try nothing to lose.
  • #10,318
  • Sep 2, 2016 11:52am Sep 2, 2016 11:52am
Quoting wannalearn12
{quote} So literally trading against the same position- say I go in with a usual 1.0 long it goes south -30, I trade against the pair with a 2.0-3.0 until it is right / profit.
NO, if you get whip you will be cleaned out. Whip can happen on any time frame. If you get to -30 example open a counter with same lot size, this way bad trade is held.
Next legitimate trigger use a larger lot size.
This is up to you either hit it hard or take a day or two to recoup money.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,319
  • Sep 2, 2016 11:53am Sep 2, 2016 11:53am
This thread is beautiful... reading through it was very interesting. The break of the four hour at the DP seems to be interesting. Guess I need to increase my bank roll for these counter trades. If I get into trouble I'll just phone a friend
  • #10,320
  • Sep 2, 2016 11:54am Sep 2, 2016 11:54am
Quoting billytt
{quote} NO, if you get whip you will be cleaned out. Whip can happen on any time frame. If you get to -30 example open a counter with same lot size, this way bad trade is held. Next legitimate trigger use a larger lot size. This is up to you either hit it hard or take a day or two to recoup money.
I understand. at -30 open same 1.0 opposite next break or w/e setup hit it a little harder.
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