Billytt Die happy trading e/j daily breakout | Page 601 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #12,001
  • Nov 3, 2016 1:41am Nov 3, 2016 1:41am
[quote=treeJ;9233260]
Quoting wannalearn12
{quote} Pardon my response, but I may be able to offer some insight; as it is the AM hours of the UK and people are asleep. I am no master in the way that Billy trades, but here is an "overview" of what the "goal" is. At least, my perception............................ Thank you Wannalearn12. Please check my chart attached. EJ 2 Nov.16. 4 hour bar from London open H 114.999 L 114.554. So, we pending order above/ below HL. My question : how many pip we must set pending order above/below HL? Thank you. {image}
experimentation will let you know. That is subject to the individual. Good luck to you.
  • #12,002
  • Nov 3, 2016 2:16am Nov 3, 2016 2:16am
[quote=wannalearn12;9233266]
Quoting treeJ
{quote} experimentation will let you know. That is subject to the individual. Good luck to you.
OK, understood.
  • #12,003
  • Nov 3, 2016 3:52am Nov 3, 2016 3:52am
Quoting treeJ
Good morning Billytt, I want to understand your trading method. Attach my trade this morning, please correct me. I am true / wrong? Thank you. Regards, Treej {image}
Hello Treej and welcome,
1st, can you post a 4 hour chart with 4 hour candles.
your chart high & low... My chart is slightly different with H 11501 and Low 11472. i also use middle price...
The Trigger is the exact high/low not the buy/sell price as this can fail.
So , if i went short on above figures i would have my trigger at 11471.5
Attached Image

i show 15 minute chart so you can focus in..
The entry is the easy part... more to follow
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,004
  • Nov 3, 2016 3:53am Nov 3, 2016 3:53am
[quote=wannalearn12;9233120]{quote} Pardon my response, but I may be able to offer some insight; as it is the AM hours of the UK and people are asleep. I am no master in the way that Billy trades, but here is an "overview" of what the "goal" is. At least, my perception. I see you are trading EURJPY. I have not seen any stats on the 04-00 method for this pair, but I am sure it can be traded.

Thank you wannalearn and a good answer, Hope you are ok.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,005
  • Nov 3, 2016 3:56am Nov 3, 2016 3:56am
Quoting wannalearn12
Hey Billy! I was curious as to what type of dancing you participate in, I can't dance well myself XD
Hi bud, i dance modern jive but can vary it to traditional jive (sometimes) 50s jive is hard on the knees lol. and i can salsa a bit depending who i am with lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,006
  • Nov 3, 2016 4:01am Nov 3, 2016 4:01am
[quote=billytt;9233469]{quote} Hello Treej and welcome, 1st, can you post a 4 hour chart with 4 hour candles. your chart high & low... My chart is slightly different with H 11501 and Low 11472. i also use middle price... The Trigger is the exact high/low not the buy/sell price as this can fail. So , if i went short on above figures i would have my trigger at 11471.5 {image}

you will notice the low broke then retraced before dropping again.
2 methods to trade this.... A-- trade off the low and get 5 then close. B--trade off low AND 2nd Entry trade off the retrace, this way you can make +5 and the retrace points.
Obviously it does not always retrace BUT sometimes it retraces and does not return
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,007
  • Nov 3, 2016 4:21am Nov 3, 2016 4:21am
[quote=slowbrain;9233135]{quote} Treej In fact as wannalearn12 said , keep it simple .... just check with your broker time , what is the equivalent time on your platform to match 04:00 08:00 London time. exemple on my plateform 04:00 08:00 = 07:00 11:00 , so byllitt in UK is looking at the
Thanks for your input SB, hope all is well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,008
  • Nov 3, 2016 4:26am Nov 3, 2016 4:26am
[quote=billytt;9233487][quote=billytt;9233469]{quote} Hello Treej and welcome, 1st, can you post a 4 hour chart with 4 hour candles. your chart high & low... My chart is slightly different with H 11501 and Low 11472. i also use middle price... The Trigger is the exact high/low not the buy/sell price as this can fail. So ,

If the trade fails you can then trade off the opposite trigger and then look for +5 (as normal) adjust lot size to start recouping 1st loss and/or look for the daily Range for extra points.. You will get the loss back but it might take a few trades. But don't panic.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,009
  • Nov 3, 2016 4:33am Nov 3, 2016 4:33am
[quote=billytt;9233524]
Quoting slowbrain
{quote} Treej In fact as wannalearn12 said , keep it simple .... just check with your broker time , what is the equivalent time on your platform to match 04:00 08:00 London time. exemple on my plateform 04:00 08:00 = 07:00 11:00 , so byllitt in UK is looking at the Thanks for your input SB, hope all is well.
Byllitt

after months of practice , I came to the conclusion to stick to the 04:00 daily break and midnight bars.
about the money management I often play with SL in place, but still evaluate the counter trade solution on paper trades.
is not what you trade is how you trade it .......
but I enjoy almost every day , your breakout system , and I'm a silent daily follower of your thread .
BTW I follow also your dancing activities with a great fun ...... morning trader and night dancing fever .... what a mix .......

SB
trying to make everyday the best risk/reward decisions possible
  • #12,010
  • Nov 3, 2016 4:37am Nov 3, 2016 4:37am
Quoting billytt
Quoting billytt
Quoting billytt
{quote} Hello Treej and welcome, 1st, can you post a 4 hour chart with 4 hour candles. your chart high & low... My chart is slightly different with H 11501 and Low 11472. i also use middle price... The Trigger is the exact high/low not the buy/sell price as this can fail. So , If the trade fails you can then trade off the opposite trigger and then look for +5 (as normal) adjust lot size to start recouping 1st loss and/or look for the daily Range for extra points.. You will get the loss back but it might
...
sometimes if fail on both triggers .... so need to counter trade a second time ?
ex:
first trigger: entry =1
second trigger entry = 2
third trigger entry = 4

is my understanding right ?

SB
trying to make everyday the best risk/reward decisions possible
  • #12,011
  • Nov 3, 2016 5:20am Nov 3, 2016 5:20am
Quoting slowbrain
{quote}{quote}{quote} sometimes if fail on both triggers .... so need to counter trade a second time ? ex: first trigger: entry =1 second trigger entry = 2 third trigger entry = 4 is my understanding right ? SB
Both ends do fail some times, this is were your method comes in.
1-- if a trade fails , trade next day.
2-- if trade fails, then trade the opposite trigger.
3-- If this fails too ideally take the loss . You must remember we are now approaching whip/consolidation
3-- or do what i do counter and hold the loss in limbo, look for the next trigger,
and then gradually get the loss back.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,012
  • Nov 3, 2016 5:32am Nov 3, 2016 5:32am
Quoting billytt
{quote} Both ends do fail some times, this is were your method comes in. 1-- if a trade fails , trade next day. 2-- if trade fails, then trade the opposite trigger. 3-- If this fails too ideally take the loss . You must remember we are now approaching whip/consolidation 3-- or do what i do counter and hold the loss in limbo, look for the next trigger, and then gradually get the loss back.
Billytt

I'm often slow to understand....but really motivated to pursue this quest ...

Both ends do fail some times, this is were your method comes in.
1-- if a trade fails , trade next day.= Take a loss ?
2-- if trade fails, then trade the opposite trigger.= With different lot size ?
3-- If this fails too ideally take the loss . You must remember we are now approaching whip/consolidation =OK clear (this is what I do usually)
3-- or do what i do counter and hold the loss in limbo, look for the next trigger, = Hedge with same lot size than the first trigger ?
and then gradually get the loss back.


Thanks again for the time and the energy you put to guide me ...

SB
trying to make everyday the best risk/reward decisions possible
  • #12,013
  • Nov 3, 2016 5:42am Nov 3, 2016 5:42am
Quoting slowbrain
{quote}{quote}{quote} sometimes if fail on both triggers .... so need to counter trade a second time ? ex: first trigger: entry =1 second trigger entry = 2 third trigger entry = 4 is my understanding right ? SB
slightly right bud, that 3rd entry is looking like martingale but we don't do martingale..
If we use a higher lot size we need the stats to help us out.
Also even taking 6 instead of 5 helps.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,014
  • Nov 3, 2016 6:24am Nov 3, 2016 6:24am
[quote=slowbrain;9233725]{quote} Billytt I'm often slow to understand....but really motivated to pursue this quest ... Both ends do fail some times, this is were your method comes in. 1-- if a trade fails , trade next day.= Take a loss ? 2-- if trade fails, then trade the opposite trigger.=

Hi,, 1--First trade loses then trade next day...
2 -- first trade loses and you decide to trade opposite trigger, You can use same lot size or increase size. You can always then look for daily range and get extra points.
3 --good question, same lot size in a counter will hold bad trade in limbo but if you actually increase lot size and it continues that direction you will gain.
It all depends on bank size as we muscle our trades..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,015
  • Edited 6:41am Nov 3, 2016 6:30am | Edited 6:41am
SB A/U 4 hour chart 3rd Nov
Attached Image

04-00 bar, range 22.
the low broke and then retraced before making 10 (for stats).
nothing stopping you shorting right now so if it then drops you will get extra. If it fails you wont lose as much then counter if it does.

time 11-30

edit.. even though the 04-00 low broke, it still made +5 (just) but we use 10 for stats.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,016
  • Nov 3, 2016 6:31am Nov 3, 2016 6:31am
Quoting billytt
Quoting slowbrain
{quote} Billytt I'm often slow to understand....but really motivated to pursue this quest ... Both ends do fail some times, this is were your method comes in. 1-- if a trade fails , trade next day.= Take a loss ? 2-- if trade fails, then trade the opposite trigger.= Hi,, 1--First trade loses then trade next day... 2 -- first trade loses and you decide to trade opposite trigger, You can use same lot size or increase size. You can always then look for daily range and get extra points. 3 --good question, same lot size in a
...
Billytt

As usual very helpful insights ... will go to bed tonight a bit less stupid than when I woke up this morning ...

SB
trying to make everyday the best risk/reward decisions possible
  • #12,017
  • Nov 3, 2016 6:44am Nov 3, 2016 6:44am
[quote=billytt;9233883][quote=slowbrain;9233725]{quote} Billytt I'm often slow to understand....but really motivated to pursue this quest ... Both ends do fail some times, this is were your method comes in. 1-- if a trade fails , trade next day.= Take a loss ? 2-- if trade fails, then trade the opposite trigger.= Hi,, 1--First trade loses then trade next day... 2 -- first trade loses and you decide to trade opposite trigger, You can use same lot size or increase size. You can always then look for daily range and get extra points. 3 --good question, same lot size in a counter will hold bad trade in limbo

if the above keeps going up and breaks 04-00 High. It should then go to 7700, that will be a modest 60 daily range. i hope i havent put a death wish on it lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,018
  • Nov 3, 2016 6:44am Nov 3, 2016 6:44am
question for UK people...

What happened today with Brexit issue?
  • #12,019
  • Nov 3, 2016 6:45am Nov 3, 2016 6:45am
Quoting slowbrain
{quote}{quote} Billytt As usual very helpful insights ... will go to bed tonight a bit less stupid than when I woke up this morning ... SB
it is nothing to do with being stupid, it is just getting to know the method.. Take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,020
  • Nov 3, 2016 7:01am Nov 3, 2016 7:01am
Just one chart today - the one I normally follow.
Cable -started off slowly this morning but look at it now !
Post Brexit fight back ?
Attached Image (click to enlarge)
Click to Enlarge Name: Cable1152.jpg Size: 260 KB
every Saint has a past. Every Sinner has a Future
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