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Billytt Die happy trading e/j daily breakout

  • #12,101
  • Nov 8, 2016 1:45am Nov 8, 2016 1:45am
Quoting lemercenaire
Audnzd {image} gbpusd {image} cadjpy {image} nzdusd {image}
Lemercenaire

charts looking promising as a signal , could you ellaborate on how you deal with fail trigger please , i'm very keen to learn from you , how do you manage fail trigger

Cheers

SB
trying to make everyday the best risk/reward decisions possible
  • #12,102
  • Nov 8, 2016 2:11am Nov 8, 2016 2:11am
Quoting wannalearn12
Is this the calm before the volcano eruption? {image}
beautiful consolidation. Be aware they might play a false break to catch the minnows. Hope you are ok.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,103
  • Nov 8, 2016 2:13am Nov 8, 2016 2:13am
Trade well all, if you do....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,104
  • Nov 8, 2016 2:32am Nov 8, 2016 2:32am
Quoting billytt
Trade well all, if you do....
I'm long A/U
trying to make everyday the best risk/reward decisions possible
  • #12,105
  • Nov 8, 2016 2:36am Nov 8, 2016 2:36am
A/U 04-00 (4 hour bar)
Attached Image

A = 04-00 bar.
High broke and retraced before +10. Lets see what happens. Chart copied approx 08-33

edit. 04-00 bar. High is 7709 & Low is 7694.. range 15 points.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,106
  • Nov 8, 2016 2:44am Nov 8, 2016 2:44am
Quoting slowbrain
{quote} I'm long A/U
Robert my miserable Spanish trader took % off that A/U long... i only know because i took her a coffee in lol. Then i was asked to leave.. My spread is very low on that account too. So lets have a good day...
Please note, i am not trading myself but what i show is exactly what i would do....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,107
  • Nov 8, 2016 2:50am Nov 8, 2016 2:50am
Quoting billytt
{quote} Robert my miserable Spanish trader took % off that A/U long... i only know because i took her a coffee in lol. Then i was asked to leave.. My spread is very low on that account too. So lets have a good day... Please note, i am not trading myself but what i show is exactly what i would do....
Billytt

what a nice boss ..... bringing coffee to intern .... i believe in my stats .... so +5 and +10 in the machine .....lets see

Edit: + 5 in the pocket
trying to make everyday the best risk/reward decisions possible
  • #12,108
  • Nov 8, 2016 2:54am Nov 8, 2016 2:54am
SB t 08-53. A/U + 5 has been made even though +10 for stats hasnt. Ideally it would be good to see a retrace down and then re enter a long for extra points.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,109
  • Nov 8, 2016 2:57am Nov 8, 2016 2:57am
Quoting slowbrain
{quote} Billytt what a nice boss ..... bringing coffee to intern .... i believe in my stats .... so +5 and +10 in the machine .....lets see Edit: + 5 in the pocket
good work... Some people say oooooooooo only +5... using a small lot will not make you rich but it mounts up...
Try making + 5 using £10 per point then £100 .. (post aimed at 3rd persons not you SB).
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,110
  • Nov 8, 2016 2:58am Nov 8, 2016 2:58am
Quoting billytt
SB t 08-53. A/U + 5 has been made even though +10 for stats hasnt. Ideally it would be good to see a retrace down and then re enter a long for extra points.....
At +5 you close all or keep a part running for 10 and or modest range ? i keep Edit :a part for +10 based on my stats ...
trying to make everyday the best risk/reward decisions possible
  • #12,111
  • Nov 8, 2016 2:58am Nov 8, 2016 2:58am
Quoting slowbrain
{quote} Lemercenaire charts looking promising as a signal , could you ellaborate on how you deal with fail trigger please , i'm very keen to learn from you , how do you manage fail trigger Cheers SB
Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout.

Anyway, as you've seen, I box the zone from the Trigger Candle's H to L. I then add a Mid-Line.

If once the Trigger Candle closes and either breaks and does not make my tp (+5) or doesn't break at all and price drops back inside the range and it continues to drop, I will counter-trade the cross of the mid-line. If it then keeps on going into a breakout (leaving that zone but to the outside), I will add in. The profit on the first trade will be locked in now. Both trades are treated as separate trades.

I will also trade the Trigger-Candle's Wick-Zones. If you don't know - I've discovered that a lot don't - these are the areas from (on a Bull Candle), Close to High and Open to Low...ie the wicks (or tails as some call them). A statistically significant percentage of times, if price goes up into the upper zone, it will come back down out of it (vice versa for the lower zone). I don't mark these on the posted charts as it can get confusing for those who don't know what's going on.

So, to start again, candle closes and this time price is below the mid-line and moves down into the lower Wick-Zone, then turns back up and leaves that zone. I will enter long as it leaves the zone. So you see, you can play that candle and then the following zone all day long if you need to.

This might seem like a heck of a lot going on at once and I suppose it is, especially if you are running multiple pairs. However, the key part is that you keep calm - don't stress, don't panic. If in doubt, close them out. There's always another day.

Be brutal with your stops. Do not hesitate to close a losing position - don't be tempted to let it run ''just in case''. There will always be another trade and you can enter again.

Stick with the pairs I run here, as they are the best suited to the method. I look at them in the order I post. As time goes on and more data goes into the book, that order of preference will no doubt change but for now, I'd suggest you do too.

Hope that helps a little. Feel free to ask any questions you like.
  • #12,112
  • Nov 8, 2016 3:02am Nov 8, 2016 3:02am
Quoting slowbrain
{quote} Billytt what a nice boss ..... bringing coffee to intern .... i believe in my stats .... so +5 and +10 in the machine .....lets see Edit: + 5 in the pocket
she is trading for me and herself but she loves my software on Pc... i take her coffee in to sneak around and see what she is up to lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,113
  • Nov 8, 2016 3:06am Nov 8, 2016 3:06am
Quoting slowbrain
{quote} At +5 you close all or keep a part running for 10 and or modest range ? i keep Edit :a part for +10 based on my stats ...
Primary trade... i make 5 then get out...
Sometimes ... Enter 2 trades .close 1 at +5 and let the other run . If 2 nd retraces before +5 close with +1 profit.
Sometimes... after a trigger IF it retraces then enter a trade on the retrace to make extra. This is a method in its self as spoken of by David or Tom if i remember. i already knew about it as i know everything lol (joking) we are always learning.


edit... those (somtimes) are when i am bored and trading small lots for fun.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,114
  • Nov 8, 2016 3:09am Nov 8, 2016 3:09am
[quote=lemercenaire;9240512]{quote} Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout. Anyway, as you've seen, I box the zone from the Trigger Candle's H to L. I then add a Mid-Line. If once the Trigger Candle closes and either breaks and does not make my tp (+5) or doesn't break at all and price drops back inside the range and it continues to drop, I will counter-trade the cross of the mid-line. If it then keeps on going into a breakout (leaving that zone but to the outside),

EXCELLENT POST Lem, I always enter a trade thinking it will lose regardless of stats.. It is part of the move as you say.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,115
  • Nov 8, 2016 3:14am Nov 8, 2016 3:14am
[quote=lemercenaire;9240512]{quote} Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout.

Lem, you are soooooooo close to trading my way.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,116
  • Nov 8, 2016 3:18am Nov 8, 2016 3:18am
[quote=lemercenaire;9240512]{quote} Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout. Anyway, as you've seen, I box the zone from the Trigger Candle's H to L.

One thing though, i will only ever trade 1 pair or on occasions a second ..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,117
  • Nov 8, 2016 3:25am Nov 8, 2016 3:25am
My wife informs me that her male friend Simon is picking her up later to go dancing. But it is ok as he is gay lol.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,118
  • Nov 8, 2016 4:03am Nov 8, 2016 4:03am
Quoting lemercenaire
{quote} Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout. Anyway, as you've seen, I box the zone from the Trigger Candle's H to L. I then add a Mid-Line. If once the Trigger Candle closes and either breaks and does not make my tp (+5) or doesn't break at all and price drops back inside the range and it continues to drop, I will counter-trade the cross of the mid-line. If it...

Lemercenaire

i understand that you open in this example 3 positions 1 long 2 shorts.
do you close the long with loss ? if yes nornally the candle range is 15 to 20 pips what will be your SL size ?

cheers

SB
trying to make everyday the best risk/reward decisions possible
  • #12,119
  • Nov 8, 2016 5:12am Nov 8, 2016 5:12am
Hello chaps.
CAD one hour ( 7 am) - don't forget the "Lem" trade ( dead zone) at 12 noon to 1 pm UK time and see how it goes.
and Cable four hour ( 4 am)
And especially for young William - the hourly Dax break ( 7 am Bar)
Have a gay day William :-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Cable4H1036.jpg Size: 251 KB
Click to Enlarge Name: Dax1H1039.jpg Size: 562 KB
Click to Enlarge Name: CAD1H1035.jpg Size: 259 KB
every Saint has a past. Every Sinner has a Future
  • #12,120
  • Nov 8, 2016 5:43am Nov 8, 2016 5:43am
Quoting billytt
{quote} good work... Some people say oooooooooo only +5... using a small lot will not make you rich but it mounts up... Try making + 5 using 10 per point then 100 .. (post aimed at 3rd persons not you SB).
This is an important psychological point, I think. The chances of a trade going five points in your favour is a lot higher than those that go 30+ in your favour.Plus, the mental strain involved in watching and hoping for something to go 30 points etc is a lot higher than waiting for 5 plus spread. If, as one hopes, the win rate is higher with a five point target then one is a happy bunny, even on £5 a point. And the confidence engendered by such success makes it easier to increase one's stakes ( I speak here of spread betting in the UK).
every Saint has a past. Every Sinner has a Future
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