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Mr Breakout (Day) Trading Journal

  • #101
  • Feb 19, 2017 4:24pm Feb 19, 2017 4:24pm
Quoting Mr Breakout
{quote} Well it is almost impossible to find stats on breakouts because support and resistance lines are hard to define mathematically,
For example if the price breaks through yesterday's high and moves 10 pips higher, was the breakout successful because I earned the 10 pips I expected? Trade well too.


If you had £10-$10 a point it would..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #102
  • Feb 19, 2017 4:27pm Feb 19, 2017 4:27pm
Quoting billytt
{quote} AND, once in a trade off a breakout you can look at support/.resistance or 00 for extra points.. I have years and years of stats to back me up, nothing for resistance/support as they dont mean much to me. as i have already said.
Oh I see, so you are basically scalping the market.

I use breakouts as continuation patterns and usually look for 20 to 100 pip moves daily.
  • #103
  • Feb 19, 2017 4:35pm Feb 19, 2017 4:35pm
Quoting Mr Breakout
{quote} Oh I see, so you are basically scalping the market. I use breakouts as continuation patterns and usually look for 20 to 100 pip moves daily.
It could be classed as scalping but in my eyes it isnt..
Just suppose you made a trade and was 90 points up and then it retraced so you closed with +10. Is that a scalp?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #104
  • Feb 19, 2017 4:37pm Feb 19, 2017 4:37pm
Quoting Mr Breakout
{quote} Oh I see, so you are basically scalping the market. I use breakouts as continuation patterns and usually look for 20 to 100 pip moves daily.
It can only be a continuation if you are following the trend and this then limits your trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #105
  • Feb 19, 2017 4:40pm Feb 19, 2017 4:40pm
Quoting billytt
Just suppose you made a trade and was 90 points up and then it retraced so you closed with +10. Is that a scalp?
Well technically no, because a scalper only looks for 5 to 15 pip profits then he closes the position and waits for another scalping opportunity.
  • #106
  • Feb 19, 2017 4:49pm Feb 19, 2017 4:49pm
Short GBP/AUD 1.6200, 35 pip stop.
  • #107
  • Feb 19, 2017 4:51pm Feb 19, 2017 4:51pm
Quoting billytt
{quote} It can only be a continuation if you are following the trend and this then limits your trading
In what way?
  • #108
  • Feb 19, 2017 6:56pm Feb 19, 2017 6:56pm
Quoting Mr Breakout
Short GBP/AUD 1.6200, 35 pip stop.
Out at 1.6175, +25 pips.

One down, neeeeext!
  • #109
  • Feb 19, 2017 7:48pm Feb 19, 2017 7:48pm
Limit order to go short GBP/AUD at 1.6190.
  • #110
  • Feb 19, 2017 8:03pm Feb 19, 2017 8:03pm
Bought GBP/JPY at 140.45, 25 pip stop.
  • #111
  • Feb 19, 2017 8:07pm Feb 19, 2017 8:07pm
Quoting Mr Breakout
Short again at the same price (1.2420), 25 pip stop. It'd better be good this time.
Out at 1.2415, +5 pips.

Like I said in another thread, GBP/USD is just a waste of time at the moment
  • #112
  • Feb 19, 2017 8:13pm Feb 19, 2017 8:13pm
Quoting billytt
{quote} Only an idiot can fail with Daily Breakout, If you state a fact regarding a breakout can be fake you are a loser. Gather stats....
billy, i am aware you are making shitload of money from daily breakouts. there are plenty of such strategies, available online. most traders cant stop making money out of them... myfxbook is full with profitable verified accounts, having records for decades. i guess most of those accounts stay focused on the daily breakouts? what do you think billy?

maybe you can share with me how do handle this? i am all ears...
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2085.PNG Size: 1.7 MB
Maadik Hugiis. IQ 69.
  • #113
  • Feb 19, 2017 10:12pm Feb 19, 2017 10:12pm
Quoting Mr Breakout
Bought GBP/JPY at 140.45, 25 pip stop.
Out at 140.65, another 20 pips in the bag.
Off to bed now, take care all.
Over and out.
Attached Image
  • #114
  • Edited 1:00am Feb 20, 2017 12:37am | Edited 1:00am
Quoting MoneyZilla
{quote} billy, i am aware you are making shitload of money from daily breakouts. there are plenty of such strategies, available online. most traders cant stop making money out of them... myfxbook is full with profitable verified accounts, having records for decades. i guess most of those accounts stay focused on the daily breakouts? what do you think billy? maybe you can share with me how do handle this? i am all ears... {image}
Hi, what pair is that chart???

edit,,, i only trade Cable/A/U or E/J, and i counter.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #115
  • Feb 20, 2017 12:43am Feb 20, 2017 12:43am
Quoting Mr Breakout
Bought GBP/JPY at 140.45, 25 pip stop.
Didn't know you trade yen as well! Thought you only trade GBPUSD.
  • #116
  • Feb 20, 2017 1:07am Feb 20, 2017 1:07am
Quoting billytt
{quote} Hi, what pair is that chart??? edit,,, i only trade Cable/A/U or E/J, and i counter.
EURUSD it is.

p.s. i am friendly and positive towards you showing me/us how to handle that.
Maadik Hugiis. IQ 69.
  • #117
  • Feb 20, 2017 1:18am Feb 20, 2017 1:18am
Quoting MoneyZilla
{quote} EURUSD it is. p.s. i am friendly and positive towards you showing me/us how to handle that.
Hi i thought it was E/U, I was confused because it was dated upto 1st Feb.
I only traded E/J on daily break sometimes cable..
Both have excellent strike rate with Daily Breakout and like i say i do/did counter trade .
i now concentrate on A/U 04-00 break looking for +10 (for stats) but normally get out with +5..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #118
  • Feb 20, 2017 1:25am Feb 20, 2017 1:25am
Quoting Mr Breakout
{quote} Well technically no, because a scalper only looks for 5 to 15 pip profits then he closes the position and waits for another scalping opportunity.
ok, but it is debatable. Leave it at that. Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #119
  • Feb 20, 2017 1:27am Feb 20, 2017 1:27am
Another thing to look at with Daily Break,,, If you do have a fail you then look for the Daily Range.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #120
  • Feb 20, 2017 6:17am Feb 20, 2017 6:17am
Morning all.

I forgot to mention that any pending order (this one here for example: "Pending order to buy GBP/USD at 1.2450, 35 pip stop"), is of course automatically cancelled when I go to sleep, as I obviously cannot watch and react to the price action anymore.
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