Billytt Die happy trading e/j daily breakout | Page 759 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #15,161
  • Feb 23, 2017 1:02am Feb 23, 2017 1:02am
hi all, is there any parameter for us to gauge whether the breakout will succeed or not? at least with high probability
how if we trade strongest vs weakest pair, and when it breaks the bar, will it be strong break?..
any idea?
thanks
I Will Never Give Up
  • #15,162
  • Feb 23, 2017 1:55am Feb 23, 2017 1:55am
Trade well all, t 07-55... I'm all excited lol. Catch you later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,163
  • Feb 23, 2017 2:11am Feb 23, 2017 2:11am
Quoting billytt
Trade well all, t 07-55... I'm all excited lol. Catch you later
Hi Billytt

quick question .... by the Patio .... or by Cable ..... ahahahahhaha
trying to make everyday the best risk/reward decisions possible
  • #15,164
  • Feb 23, 2017 2:17am Feb 23, 2017 2:17am
Bingo,,t 08-16. Cable High broke for +10 THEN I CLOSED trade due to feeling uneasy with the long lol.Happy days. i have now done for the day..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,165
  • Feb 23, 2017 2:21am Feb 23, 2017 2:21am
Quoting slowbrain
{quote} Hi Billytt quick question .... by the Patio .... or by Cable ..... ahahahahhaha
Hi SB, I stuck a massive lot on Cable Long. It had 24 range. It made +11 then stopped so i was right not to try another compound.
Good thing was it wasnt my money lol but i got my dealing costs yaaaaaaaaaaaaaaaaaaaaaaaaaaay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,166
  • Feb 23, 2017 2:21am Feb 23, 2017 2:21am
Quoting slowbrain
{quote} Hi Billytt quick question .... by the Patio .... or by Cable ..... ahahahahhaha
I will be at my Ladys shortly doing the patio, she loves the things i do for her.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,167
  • Feb 23, 2017 2:29am Feb 23, 2017 2:29am
Quoting billytt
{quote} Hi SB, I stuck a massive lot on Cable Long. It had 24 range. It made +11 then stopped so i was right not to try another compound. Good thing was it wasnt my money lol but i got my dealing costs yaaaaaaaaaaaaaaaaaaaaaaaaaaay
enter big and scale out along the way ....
Attached Image
trying to make everyday the best risk/reward decisions possible
  • #15,168
  • Feb 23, 2017 2:31am Feb 23, 2017 2:31am
Quoting starpro
Lem, If I could ask , Why do you use the 2nd hrly candle of the day as your W hr? is it because thats when ASX opens ? Ive often thought the last hr of previous day gave a pretty good zone to work off... does it matter what period you work off ,as long as you're consistent ?Thanks in anticpation SP {image}
Hi starpro. The original Witching Hour was the Midnight (00:00) candle, UK time - hence the name. Over the course of testing, I noticed (along with Wanna, who helped check this out from the US-Based trader's point of view) that the hour previous to this, 23:00 UK, produced even better results.

Remember, the term ''Day'' is all relative - your session day in Australia, mine in the UK and others in the US - or is it Sydney Open time no matter what? Or is it the session time at all? Is it the clock-based midnight for each time-zone?

The concept here is to take advantage of the ''dead air'' time as the US session is closing and the Asian session is waking up when movement is small. Most breakout traders trade the range at the open, I use the movement out of the dead air before the open, so catching (as Wanna says) the time when the money floods in.

The pairs I use were all chosen because they have a similar movement profile and perform in a usually mostly predictable way across the day.

As for the last part of your question, as the method uses Alien-inspired Wick-Zone trading techniques, then yes, you will be able to trade any candle on any pair on any time-frame using the same basic method (in the same way that I trade Billy's 04:00 Break on AU as a WZ method, so slightly differently from Billy's own style). However using this on The DZ and WH candles gives us an additional edge, just as Billy's 04:00 candle on AU gives him a statistical edge.

EDIT: I also don't care what causes the movement, whether it's news or just a ''normal'' move - all I am trading is price moving over a line, what drives that movement is of no concern to me. The only time I will take note of news, is if it I am already in a trade, which could turn any move against me.
  • #15,169
  • Feb 23, 2017 2:42am Feb 23, 2017 2:42am
Thanks Lem , just re-enforces what I percieved ... just a couple of todays 2nd is AJ happy to take set TP
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  • #15,170
  • Feb 23, 2017 2:45am Feb 23, 2017 2:45am
Buy bias on the DAX-Monster would have kept you out of the initial short but helped you to catch the bigger move long which followed. Didn't trade it as was busy with The Frankfurt Break (since closed) but looked do-able.
  • #15,171
  • Feb 23, 2017 2:46am Feb 23, 2017 2:46am
Quoting learn2fly
hi all, is there any parameter for us to gauge whether the breakout will succeed or not? at least with high probability how if we trade strongest vs weakest pair, and when it breaks the bar, will it be strong break?.. any idea? thanks
Hi bud,that is why i collate stats and also what is your definition of SUCCEED?
I am more than happy to get +5 rather than look for +50 or +100 etc.
Forget what i am doing at the moment trading off the 07-30 bar as this does have slightly more risk but does well..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,172
  • Feb 23, 2017 2:48am Feb 23, 2017 2:48am
Quoting lemercenaire
Buy bias on the DAX-Monster would have kept you out of the initial short but helped you to catch the bigger move long which followed. Didn't trade it as was busy with The Frankfurt Break (since closed) but looked do-able.
Dax was straight forward again, low broke then retraced for +10 (at the moment) this is nothing for Dax as we know but trade would still be on.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,173
  • Feb 23, 2017 2:52am Feb 23, 2017 2:52am
Quoting slowbrain
{quote} enter big and scale out along the way .... {image}
in my case, i wanted Cable to break then keep moving for +10 then another 5 then 5 ... It does happen a lot but as soon as it stops or retrace get out.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,174
  • Feb 23, 2017 2:53am Feb 23, 2017 2:53am
coffee time then patio yay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,175
  • Feb 23, 2017 2:53am Feb 23, 2017 2:53am
Had to use a counter on The Frankfurt Break after an initial head-fake long but no real drama after that...

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  • #15,176
  • Feb 23, 2017 3:00am Feb 23, 2017 3:00am
Quoting starpro
Thanks Lem , just re-enforces what I percieved ... just a couple of todays 2nd is AJ happy to take set TP {image} {image}
Cool. Glad that made some sort of sense.

It's interesting to see you use EU, as that is one pair I do not use as I found it didn't measure up as well as the others (in The Dead Zone). It probably does make more sense if you are trading the Asian session (via The Witching Hour), as EU actually performs well then. I just didn't feel like I wanted to have different pairs for each variant (probably wrong on that count but hey, my call, lol).
  • #15,177
  • Feb 23, 2017 3:04am Feb 23, 2017 3:04am
Quoting lemercenaire
{quote} Cool. Glad that made some sort of sense. It's interesting to see you use EU, as that is one pair I do not use as I found it didn't measure up as well as the others (in The Dead Zone). It probably does make more sense if you are trading the Asian session (via The Witching Hour), as EU actually performs well then. I just didn't feel like I wanted to have different pairs for each variant (probably wrong on that count but hey, my call, lol).
How odd, i wont touch E/U and never have, too many fails...
A few days ago some guy posted a Daily E/U breakout chart in a different thread, showing how i would of failed lol.
THATS WHY I DON'T TOUCH IT,,, DUH!
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #15,178
  • Feb 23, 2017 3:06am Feb 23, 2017 3:06am
Quoting learn2fly
hi all, is there any parameter for us to gauge whether the breakout will succeed or not? at least with high probability how if we trade strongest vs weakest pair, and when it breaks the bar, will it be strong break?.. any idea? thanks
Well, now you mention it, lol...

I am looking at an indi which gives a directional bias and has performed very well in testing so far. Yes, it's Alien Technology (surprise, surprise), so one would have to take a trip to The Other Galaxy to add it but if it works as well as it seems to, then I'm sure that would be no hardship.

The thing is, as Billy says, all of this is already factored into our methods and we can trade no matter what direction comes out on top - however, where it could prove invaluable is for those traders who do not have the ability to counter / hedge (poor American-based dudes).
  • #15,179
  • Feb 23, 2017 3:12am Feb 23, 2017 3:12am
Quoting lemercenaire
Had to use a counter on The Frankfurt Break after an initial head-fake long but no real drama after that... {image} {image}
Lem

I have question , about the counter , to be close at breakeven this morning your counter should be 2.6 times bigger than your first entry ?
Thanks in advance for the response ....
trying to make everyday the best risk/reward decisions possible
  • #15,180
  • Feb 23, 2017 3:31am Feb 23, 2017 3:31am
i will catch you guys later, just off to build a patio....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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