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Billytt Die happy trading e/j daily breakout

  • #10,641
  • Sep 7, 2016 3:51pm Sep 7, 2016 3:51pm
Quoting wannalearn12
{quote} I think I've got it. I will have to take the loss at the stop(closetrade) counter and compound the next trigger. It's the only situation that works in US...
Yes or use separate multiple accounts. It's all BS but it is what it is.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,642
  • Sep 7, 2016 3:54pm Sep 7, 2016 3:54pm
This is what I had in mind as an option for the next day:

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-09-08_0043.png Size: 140 KB


Billytt - what do you think sir.:nerd:
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,643
  • Sep 7, 2016 3:55pm Sep 7, 2016 3:55pm
Quoting PippyTheGrt
{quote} Yes or use separate multiple accounts. It's all BS but it is what it is.
Interesting. I will post results at the end of the week.
  • #10,644
  • Sep 7, 2016 4:17pm Sep 7, 2016 4:17pm
And if you are in the USA, you can do a synthetic hedge.

EURJPY = EURUSD * USDJPY.

Short EURJPY is hedged by long EURUSD and long USDJPY.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,645
  • Sep 7, 2016 4:19pm Sep 7, 2016 4:19pm
Quoting wannalearn12
{quote} Interesting. I will post results at the end of the week.
If anything, also have a serious look into the stats. I know I will

Funny how that works. I know someone who doesn't give a thing about stats, enters at breakouts and takes it from there making decisions as time progresses. As long as one has a belief system that is profitable, all is good. If not, change the belief system and dump the old one.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,646
  • Sep 7, 2016 4:19pm Sep 7, 2016 4:19pm
Quoting TooSlow
And if you are in the USA, you can do a synthetic hedge. EURJPY = EURUSD * USDJPY. Short EURJPY is hedged by long EURUSD and long USDJPY.
Do you split the position between the two?
  • #10,647
  • Sep 7, 2016 4:21pm Sep 7, 2016 4:21pm
Quoting TooSlow
And if you are in the USA, you can do a synthetic hedge. EURJPY = EURUSD * USDJPY. Short EURJPY is hedged by long EURUSD and long USDJPY.
Good point. Glad I don't have to live with that shite (until I do )
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,648
  • Sep 7, 2016 4:30pm Sep 7, 2016 4:30pm
Quoting wannalearn12
{quote} Do you split the position between the two?
No. Same size for a full hedge.
To fully hedge 1 lot short EJ you have to go long 1 lot EU and 1 lot UJ.
short EJ = selling E and buying J
long EU = buying E and selling U
long UJ = buying U and selling J
They even out if you use the same lot sizes. If not, then not.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,649
  • Sep 7, 2016 4:40pm Sep 7, 2016 4:40pm
Quoting PippyTheGrt
{quote} No. Same size for a full hedge. To fully hedge 1 lot short EJ you have to go long 1 lot EU and 1 lot UJ. short EJ = selling E and buying J long EU = buying E and selling U long UJ = buying U and selling J They even out if you use the same lot sizes. If not, then not.
Got it. My head is swelling up - can't wait to try it out.
  • #10,650
  • Sep 7, 2016 4:41pm Sep 7, 2016 4:41pm
Back, dancing was great as usual and I have a lot to read....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,651
  • Sep 7, 2016 4:43pm Sep 7, 2016 4:43pm
Quoting claudia1
'Quoting fasttrade1 he is showing his TE SEE TOP OF THRED THIS THRED IS UNDER TRADING JOURNALS SO NOT FOR TEACHIG SAD BUT TRUE ITS A CREATING A PLATFORM FOR MARKETING PRODUCT SAD BUT TRUE' ANY IDEAS WHAT PLANET THIS ONE IS FROM BILLY?
speechless on this one
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,652
  • Sep 7, 2016 4:56pm Sep 7, 2016 4:56pm
[quote=wannalearn12;9125593]Billy, or anyone really, a few questions, if you don't mind.

Hi, I use stops for stats purpose.
I actually do not use stops as I counter trade. This appears odd to some people but it is my style.
I have counter set up before I open first trade.
My broker allows Forced Trades plus I have 2 accounts and have a second back up broker.
Pull back is safe to trade with the added option of gaining more points (and smaller stop if used).
It does not matter which time frame you use as it breaks regardless.
I take 5 but up to 20 is pretty good too.
It might only be 5 points but try banging a 100 or 1K per point trade on it.
A/U is best in my opinion as it suits me, Cable very good but be careful with E/J..
Compounding is another option, once you get a feel how the Daily Range works you can then hunt it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,653
  • Sep 7, 2016 5:06pm Sep 7, 2016 5:06pm
[quote=PippyTheGrt;9125738]{quote} Some suggestions (subject to improvement ) 1. Trading the break means setting buy/sell stops on the extreme of the candle before it breaks, not after. 2. see video below 3. cutting losses: set counter trade at other end or 30 pips away, the idea being that if a lousy 5 pips isn't reached, it'll likely go at least 20 pips from the other extreme towards a modest daily range.
hi and welcome,,
I agree with what you say,
I trade 04-00 break slightly different from the Daily. I wouldn't say 5 points was lousy, I bought my wife a totr merc trading for 5 points.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,654
  • Sep 7, 2016 5:08pm Sep 7, 2016 5:08pm
Quoting PippyTheGrt
{quote} I was going to post a non-MT4 chart with some food for thought but my other laptop that replaces my PC with MT4 has decided to black-screen on me. Insert two swear words here I wouldn't close the trade, just see it in a different light. There are several options going forward from there, like calculating the position size of the new trade based on a likely scenario that you envision based on the historical research that you have done. I'm actually doing that too (laptop permitting ) by the way. Think "modest daily range"...
we sound so a like, trade style
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,655
  • Sep 7, 2016 5:13pm Sep 7, 2016 5:13pm
[quote=PippyTheGrt;9125808]{quote} Yes in the US I believe, but not for me. Worst case you'd have to open two accounts in the US so as to be able to do the same effectively lowering the leverage. Or set up a company in XYZ-land as a trading vehicle. Here's an example of a few weeks ago. The long hedge could be a) 100% so you would lock in negative profit or b) more than 100% to catch up with the negative profit while the market goes up. And/or you can stack when it is going your way, and perhaps start a bit earlier than I did fcol. But this is only an example - many ways to skin a cat. You could also wait for the next trigger the day

More or less what I do, if you counter wait for next legitimate trigger, then either add lots or recoup over time.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,656
  • Sep 7, 2016 5:15pm Sep 7, 2016 5:15pm
Quoting PippyTheGrt
{quote} Yes or use separate multiple accounts. It's all BS but it is what it is.
I do that too, lol as I already said. shhhhhhhh
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,657
  • Sep 7, 2016 5:15pm Sep 7, 2016 5:15pm
Quoting billytt
Quoting PippyTheGrt
{quote} Some suggestions (subject to improvement ) 1. Trading the break means setting buy/sell stops on the extreme of the candle before it breaks, not after. 2. see video below 3. cutting losses: set counter trade at other end or 30 pips away, the idea being that if a lousy 5 pips isn't reached, it'll likely go at least 20 pips from the other extreme towards a modest daily range. hi and welcome,, I agree with what you say, I trade 04-00 break slightly different from the Daily. I wouldn't say 5 points was lousy,
...
Thanks.
lol
That "lousy" was meant to be ironic or something along those lines.
90+% straight profits of 5 times a big number is not to be sniffed at.
Not sure what a totr merc is but your wife obviously likes it or you wouldn't be here I suppose
Yeah I take lousy any time of day.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #10,658
  • Sep 7, 2016 5:18pm Sep 7, 2016 5:18pm
Quoting TooSlow
And if you are in the USA, you can do a synthetic hedge. EURJPY = EURUSD * USDJPY. Short EURJPY is hedged by long EURUSD and long USDJPY.
a lot of guys use this method and successful , I could never get my head around it ,duh!
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,659
  • Sep 7, 2016 5:21pm Sep 7, 2016 5:21pm
[quote=PippyTheGrt;9125843]{quote} If anything, also have a serious look into the stats. I know I will Funny how that works. I know someone who doesn't give a thing about stats,
I once had a lot of info on a guy who could just enter a trade and always won but lost the info, he was a counter trader too.
As for Stats.. a lot of people use stats without realising it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,660
  • Sep 7, 2016 5:22pm Sep 7, 2016 5:22pm
Quoting billytt
{quote} a lot of guys use this method and successful , I could never get my head around it ,duh!
You lot are good people. Thank you.
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