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Billytt Die happy trading e/j daily breakout

  • #14,101
  • Jan 24, 2017 3:00am Jan 24, 2017 3:00am
t 09-00 A/U i am short , got in on the retrace not the actual break of low..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,102
  • Jan 24, 2017 3:08am Jan 24, 2017 3:08am
Quoting slowbrain
{quote} Lem Thanks ... is it the way to trade the WZ ? as per the drawing {image}
Hi SB.

Yes, that's correct. Enter as price leaves the zones, not when it enters. That's where the stats come from. This includes if you have a BreakOut and it reverses, you enter if / when it leaves that zone into the body of the candle.

I also add a Mid-Line as price will often pivot around this level and this can be used either to a: add in to the trade (I don't do this so often now) or b: move sl to lock in profit of running trade.
  • #14,103
  • Jan 24, 2017 3:11am Jan 24, 2017 3:11am
Watch out for the red news on GBP coming guys.
  • #14,104
  • Jan 24, 2017 3:17am Jan 24, 2017 3:17am
Quoting lemercenaire
{quote} Hi SB. Yes, that's correct. Enter as price leaves the zones, not when it enters. That's where the stats come from. This includes if you have a BreakOut and it reverses, you enter if / when it leaves that zone into the body of the candle. I also add a Mid-Line as price will often pivot around this level and this can be used either to a: add in to the trade (I don't do this so often now) or b: move sl to lock in profit of running trade.

you are sure ? how it is possible .... I have a slow brain ....I try to figure out ... but can't
trying to make everyday the best risk/reward decisions possible
  • #14,105
  • Jan 24, 2017 3:19am Jan 24, 2017 3:19am
t 09-19 A/U it dropped and i got +5... IF if moves up a bit i will short again.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,106
  • Jan 24, 2017 3:20am Jan 24, 2017 3:20am
Quoting lemercenaire
{quote} Hi SB. Yes, that's correct. Enter as price leaves the zones, not when it enters. That's where the stats come from. This includes if you have a BreakOut and it reverses, you enter if / when it leaves that zone into the body of the candle. I also add a Mid-Line as price will often pivot around this level and this can be used either to a: add in to the trade (I don't do this so often now) or b: move sl to lock in profit of running trade.
good info bud..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,107
  • Jan 24, 2017 3:21am Jan 24, 2017 3:21am
Quoting slowbrain
{quote} you are sure ? how it is possible .... I have a slow brain ....I try to figure out ... but can't
lol, SB you are probably one of the smartest here..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,108
  • Jan 24, 2017 3:23am Jan 24, 2017 3:23am
09-23, A/U actually i am short again. it will save me points if it fails
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,109
  • Jan 24, 2017 3:24am Jan 24, 2017 3:24am
Quoting lemercenaire
Watch out for the red news on GBP coming guys.
well spotted,,,,,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,110
  • Jan 24, 2017 3:25am Jan 24, 2017 3:25am
i was reading somewhere that Dax is bad to trade on Tuesdays and Thursday, i have mentioned it before . I dont have stats to confirm it. But looking at today it is whipping all over..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,111
  • Jan 24, 2017 3:32am Jan 24, 2017 3:32am
Brexit news is released shortly as Lem highlighted
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,112
  • Jan 24, 2017 3:46am Jan 24, 2017 3:46am
Cable, beautiful drop yaaaaaaaaaaaaaay or weeeeeeeeeeeeeeeeeeeeeeeeee. Only watched by me. the high would of failed but +5 made..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,113
  • Jan 24, 2017 4:33am Jan 24, 2017 4:33am
A/U , chart is 2 minutes so you can see.
Attached Image

L = Low Line.
T = trigger.
A = short anywhere .
B =short anywhere.
The range is 29 which is not bad for me....
we had a Low break at 08-38 then it retraced,,,
Obviously we dont know how far it will retrace , maybe it will keep going up??
So we can short looking for +5 or even more.
as long as it doesnt make the +10 after Low break we can keep shorting. If it fails it fails. Yesterday we had a fail but still made points..

edit, we dont know how far it will retrace? you can look for pivots/00 etc. i normally dont
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,114
  • Jan 24, 2017 5:03am Jan 24, 2017 5:03am
t 11-02 A/U update chart from last post. it dropped and you could of made 1-2-3-4- .as i type the actual low has been broken again
Attached Image


edit,,, A = short anywhere?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,115
  • Jan 24, 2017 5:25am Jan 24, 2017 5:25am
t 11-23 A/U same again. short anywhere around here.
Attached Image

just take note that the low trigger has been breached again, It might be saying it will go up...
If it fails it fails but at least we got extra points.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #14,116
  • Jan 24, 2017 5:32am Jan 24, 2017 5:32am
Quoting billytt
t 11-23 A/U same again. short anywhere around here. au24th =C.PNG;2153288 just take note that the low trigger has been breached again, It might be saying it will go up... If it fails it fails but at least we got extra points. {image}
Itook short at trigger .... and add into the retracement

like a virgin .... its my first time ....
trying to make everyday the best risk/reward decisions possible
  • #14,117
  • Jan 24, 2017 5:37am Jan 24, 2017 5:37am
i made a very big mistake today,, cable high failed, stop loss at the low of 04-00 loss about 65pips
stressful.
at the same time the low triggered at 1.24610, even though price go lower to 1.24363 which is profit 25pips i didnt take the profit (greedy/revenge)
price moving up from that level, profit that could be taken disappear.. left me the red number, but i didnt close the position
lucky the price start moving down, confident with the move, i added position at 1.24799 with the same size
price continue the down move, i added same size at the low 04-00
finally at 1.24450 i closed those 3 position in total profit 65 pips..

i know maybe i'm the most reckless and lack of appropriate trader attitude among all of you master..

lesson that i've learn:
1. aware of the big news (i dont even know there is brexit news will be announced)
2. actually i dont want to trade cable due to the large range, and i stick to it always before, but again stupid mind of mine
3. i take too much risk, while adding position, but it did helped actually
4. i think what had save me is when i read posting between SB and Bill recently, about compounding

but again, knowing is not enough for me, still need to train myself harder and learn a lot from this community

"However, eliminating fear is only half the equation. The other half is the need to develop restraint.
Excellent traders have learned that it is essential to have internal discipline or a mental mechanism to
counteract the negative effects of euphoria or the overconfidence that comes from a string of winning
trades. For a trader, winning is extremely dangerous if you haven't learned how to monitor and control
yourself." -trading in the zone
I Will Never Give Up
  • #14,118
  • Jan 24, 2017 6:35am Jan 24, 2017 6:35am
Quoting learn2fly
i made a very big mistake today,, cable high failed, stop loss at the low of 04-00 loss about 65pips stressful. at the same time the low triggered at 1.24610, even though price go lower to 1.24363 which is profit 25pips i didnt take the profit (greedy/revenge) price moving up from that level, profit that could be taken disappear.. left me the red number, but i didnt close the position lucky the price start moving down, confident with the move, i added position at 1.24799 with the same size price continue the down move, i added same size at...
All that matters is that you:
Learn from those mistakes...
Don't keep repeating the same ones over and over...
Didn't die
  • #14,119
  • Jan 24, 2017 6:43am Jan 24, 2017 6:43am
Frankfurt Break took me on a ride today but managed to get out ahead before the EU news broke (that would have been fun...not).

As noted above, first move fell just short (got to +14), countered using Stainless Steel Rat entry, so had no real worries. Ended up -17 +25, so +8 when it all closed out. (I could have closed the first trade (should have?) once the Rat had triggered but these decisions are always blindingly obvious in hindsight.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15FBdone24thJan17done.png Size: 35 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15FBdone24thJan17done+8.png Size: 42 KB


Trade was run and managed on Variant #2.
  • #14,120
  • Jan 24, 2017 6:56am Jan 24, 2017 6:56am
Quoting slowbrain
{quote} you are sure ? how it is possible .... I have a slow brain ....I try to figure out ... but can't
Hi SB.

Going on the illustration below, the price forms a lower WZ once the red candle closes.
Price drops into that zone (small green wick in zone).
We enter trade Long as price exits this lower WZ.

Attached Image
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