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Billytt Die happy trading e/j daily breakout

  • #13,681
  • Jan 12, 2017 6:45pm Jan 12, 2017 6:45pm
Quoting lemercenaire
{quote} It came flying up out of the Southern Daily--Airspace but in the low TFs it moved fast and tricky!
It was a 5 second move xD really easy trade though. I was in short closed -4 was getting next position size ready and WOOOSH.
  • #13,682
  • Jan 12, 2017 7:47pm Jan 12, 2017 7:47pm
Quoting wannalearn12
{quote} If you can hedge I can summarize what Billy has said. If that is okay with you Billy! All for education, I am not giving instruction. TRADE AT YOUR OWN RISK. I wish I could do this A. Trade #1 - entry has triggered at 100 short looking for +5. B. Trade #1 - price has moved to 120 and you are now -20. C. Trade #2 - enter long at 120. This HOLDS the overall LOSS at -20. D. Trade #3 - entry has triggered at 175 long. Trade #1 and #2 are still running. E. Hunt the modest range, or until in overall profit, up to you. Hope this...
Wannalearn

Thanks for the explanation , I got the same understanding , but as usual I think too much and was expecting something more complicate ... lets fight inner demon ...

SB
trying to make everyday the best risk/reward decisions possible
  • #13,683
  • Jan 12, 2017 7:50pm Jan 12, 2017 7:50pm
Quoting slowbrain
{quote} Wannalearn Thanks for the explanation , I got the same understanding , but as usual I think too much and was expecting something more complicate ... lets fight inner demon ... SB
The hard part, what I am getting slowed by, is developing a capital management overview and specific position size strategy, but ALAS we have Google and many helpful friends
  • #13,684
  • Jan 12, 2017 7:52pm Jan 12, 2017 7:52pm
Quoting billytt
{quote} Hello SB, wannalearn posted a good answer to your question. To counter my method , 1st you need good stats and a big bank roll (or enough to cover trade ranges) My exact method isnt explained 100% as it has been sold and i do not want to breach copy write. A clue is gross profit versus net profit. My trades are based on +10 and me taking +5. Sometimes i take more and some times i do several trades using retrace. I then only need 5%. Remember what i say, In a war we might win a battle but we will still have casualties, and i mean no disrespect...
As I said to wannalearn ... I'm still fighting with inner demon ... I always think too much....

SB
trying to make everyday the best risk/reward decisions possible
  • #13,685
  • Jan 12, 2017 8:29pm Jan 12, 2017 8:29pm
Quoting slowbrain
{quote} As I said to wannalearn ... I'm still fighting with inner demon ... I always think too much.... SB
What is there to think about?

You know when to enter.
You know where to place your stop loss.
You know when to move your stop loss to BE+1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,686
  • Jan 12, 2017 8:33pm Jan 12, 2017 8:33pm
Hi guys. I just wanted to add a couple of words here if that's ok.

Now, bear in mind that I didn't come into this game yesterday and considered myself to be pretty battle-hardened. However, my problem was that having come from much longer time-frame trading, the feeling of entering a trade is completely different. Coming down the time-frames had meant that I had had to pull all of that experience under-fire together to handle any trigger-pulling jitters, or heaven forbid, the dreaded yips that reared their ugly head.

As such, one of the most helpful pieces of advice I have ever heard when it comes to this style of trading came from Billy himself - who said that he goes into every first trade (of a sequence) expecting to lose - and it's the counter where the money is made. Think about that and repeat it at your leisure...he goes into every first trade (...) expecting to lose.

One of the first things I found when I started on The Dead Zone (HOLO was fine as I had used methods similar to HOLO before) was that initial moment that inevitably happens when you are trading a line - price immediately goes back over that very line. The heart would lurch, the pulse quicken and the sweat flow. No matter how much I tried not to think about it, I was sitting on the edge of my seat until price made up its mind - as it always does. Not good...and a totally alien and unwelcome state of mind for me. (...and not in a good way, lol).

THEN, I started taking what Billy said to heart - and I swear...the sense of genuine peace, yes peace that that mindset brings is immense.

Combining that with a complete faith in the method and a knowledge that the numbers don't lie makes for an amazingly composed style of trading.

Give it a try. See what happens.
  • #13,687
  • Jan 12, 2017 8:52pm Jan 12, 2017 8:52pm
Quoting lemercenaire
Hi guys. I just wanted to add a couple of words here if that's ok. Now, bear in mind that I didn't come into this game yesterday and considered myself to be pretty battle-hardened. However, my problem was that having come from much longer time-frame trading, the feeling of entering a trade is completely different. Coming down the time-frames had meant that I had had to pull all of that experience under-fire together to handle any trigger-pulling jitters, or heaven forbid, the dreaded yips that reared their ugly head. As such, one of the most helpful...
I always receive an accelerated heart rate during a trade. I need to calm my butt down!
  • #13,688
  • Jan 12, 2017 9:07pm Jan 12, 2017 9:07pm
Quoting wannalearn12
{quote} I always receive an accelerated heart rate during a trade. I need to calm my butt down!
None of that happens to me.
A trade is only a trade.
Yelling at the screen on occasion to let out the frustrations.
Only to wind up laughing at myself.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,689
  • Jan 12, 2017 11:46pm Jan 12, 2017 11:46pm
The NY open should be interesting, you weren't joking Lem. XD.. Claudia is this a good one?
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  • #13,690
  • Jan 13, 2017 1:07am Jan 13, 2017 1:07am
Quoting wannalearn12
The NY open should be interesting, you weren't joking Lem. XD.. Claudia is this a good one? {image}
Looks good.

Here's my starting chart for the day at Frankie open. Been in a range for 12 hours or so looking for a break of the t/l and the 50 and the obvious support then down. Nothing new. But it is Friday 13 and it could go up !!!! Whatever there will be some selling opportunity during the day.

I get asked quite a lot why I just seem to sell g/u. Go look at the monthly there's a big big target not so far away.

Trade well all.
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  • #13,691
  • Jan 13, 2017 1:37am Jan 13, 2017 1:37am
Quoting turnip15
{quote} Mistress of the universe -well done Claudia :-)
lol thanks Mr T. Now get back in that garden !!
  • #13,692
  • Jan 13, 2017 1:46am Jan 13, 2017 1:46am
Frankfurt Break kicks back in early today. Initial target hit quickly on both variants.

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  • #13,693
  • Jan 13, 2017 1:56am Jan 13, 2017 1:56am
Quoting lemercenaire
Frankfurt Break kicks back in early today. Initial target hit quickly on both variants. EURGBPM15FB13thjan17v1.png;2138748 EURGBPM15FB13thjan17v2.png;2138751 {image} {image}
Easy as pie! I was just watching, as the spread was high for some reason - over 3
  • #13,694
  • Jan 13, 2017 2:00am Jan 13, 2017 2:00am
t08-00 trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,695
  • Jan 13, 2017 2:20am Jan 13, 2017 2:20am
DAX-Monster gave me whiplash...short failed (just!) but straight into a classic about-face and bagged easily...

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  • #13,696
  • Jan 13, 2017 2:27am Jan 13, 2017 2:27am
Dax? dont ask, i am on the ropes lol. i just realised Lem has just posted about it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,697
  • Jan 13, 2017 2:36am Jan 13, 2017 2:36am
Quoting claudia1
{quote} Looks good. Here's my starting chart for the day at Frankie open. Been in a range for 12 hours or so looking for a break of the t/l and the 50 and the obvious support then down. Nothing new. But it is Friday 13 and it could go up !!!! Whatever there will be some selling opportunity during the day. I get asked quite a lot why I just seem to sell g/u. Go look at the monthly there's a big big target not so far away. Trade well all. {image}
Just to annoy Claudia, Cable breaks up out of last night's Witching Hour!

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  • #13,698
  • Jan 13, 2017 2:44am Jan 13, 2017 2:44am
Quoting lemercenaire
{quote} Just to annoy Claudia, Cable breaks up out of last night's Witching Hour! GBPUSDH1cablebreaksfromWHforclaudia13thjan17.png;2138810 {image}
lol yep it looks like it might do what it did yesterday. Head up to the 00 area and pivot. I can wait got all day.
  • #13,699
  • Jan 13, 2017 2:45am Jan 13, 2017 2:45am
Quoting lemercenaire
{quote} Just to annoy Claudia, Cable breaks up out of last night's Witching Hour! GBPUSDH1cablebreaksfromWHforclaudia13thjan17.png;2138810 {image}
Look at dollar imdex. No way I was getting into that short. At least not yet.
  • #13,700
  • Jan 13, 2017 3:01am Jan 13, 2017 3:01am
Song for the day.

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