Billytt Die happy trading e/j daily breakout

Hah - two out of three is brilliant Claudia :-)

Sure does - love football bets especially in play. Think I'm a gambler lol.

There's a song them somewhere!! What's happened to the oil trading ?

i was going to say 2 out 0f 3 aint bad meatloaf, yay

i did not see any of the runners in the National only one, the winner lol.
My mate in the club is called Arthur and he backed it, i didnt

Had a great mini barbecue on the beach, My lady loved it and i did. now back to stat collating.

I only backed it because the name - know nothing about horses.

Great song. Got Springsteen on right now Dancing in the Dark.

See if cable goes back to 00 then look at selling.

Edit: looks like just wants to go down. Watch and wait.

Well done Claudia, great fun when you win...and even when you don't lose too much...!!!
All the horses returned safely which is a bonus
The Grand National doesn't make the TV here in Oz, it certainly is a spectacular event though

Newcastle should still get up to Prem, West Ham had a rare win, after a losing run the win seems even better,

Happy trading all :-)

morning all, t 07-58.. i will be trading Cable off the 07-45 bar. Ut looks like it will be Long. Lets see. catch you later.

Another Monday trundles round. Business as usual.

AU Billy-Bar does the business, WZ-style...




Plus the Frankenbreak via the +5 variant has closed out. Took a counter but that's fine...




Don't know that I'll get in on much more (though will always check my Brent-US Crude set-up) as I am probably heading out later this morning. Still fluid though, so we'll see what happens.

Trade well, all.

Variant 2 on the FB hits its target. Again, would have needed a counter and hardly a convincing move but it's there. As I said, I didn't trade the usual two variants today, so this is just for the record.

I use IG MT4 charts and trade off that platform. No oil chart on IG version of MT4.
I have CAD one hour "dead zone" trading and Cable four hour ( 4am) "Billy" type trade plus my Dax Range bar trading that I don't show here.

Cable -today I was stopped out for plus two and a plus three.

FB Variant 1 eventually joined the others...oh, the excitement...

Brent-US Crude H4 05.00 Billy-Bar Diff Trade.

Had to counter after a small head-fake coming out of the gate caught me off-guard (aka, sleeping) but it's all good. Expecting more movement one way or another once the US gets into the game.

CAD "Dead Zone" aka "Lems Lens"
noon to 1pm bar.
Fakey North into body of trigger bar (arrowed) -then a nice break South out of lower "Wick Zone" for a few points.
( A "ten for Lem ?" )

Looks good, Mr-T, looks good. I will check the detail - 'coz that's where the devil lies, right - when I get back home.

Hello everyone. I hope you guys had a great weekend!


Hi Lem,
I didn't trade the FB today as well, but if you would have traded it, would you have kept the counter in limbo or increase the lot size? I'm afraid I might create a habit of increasing the lot size of the counter instead of keeping the limbo until the next day set-up. Any tips on this?


Today's trading results:

1. AUDUSD DZ +5.3 pips
   The DZ candle closed at a new low. I should have shorted right away to be more strict with my entry. If I did short, I would have countered at the high of the DZ candle. Instead, I watched price for a bit and saw that price came back up into the DZ candle. Because there was no bottom wick, I thought the bottom wick zone was basically the low of the DZ candle, so I bought as price came up. I was willing to counter if price went down -10 pips.
   
   If there is no wick on one side of the DZ candle, should it not be considered a WZ or would the high/low price be the WZ? I think my entry may have been incorrect.

AUDUSD M5 chart with H1 M-Candles. M-candle with the small arrow is the DZ candle.

Yep, Mr-T, spot on. Small, blink-and-you'd-miss-it head-fake North and then into the money on the Southern break.

Hi SFX.

Sorry for the late reply - that big orange thing that appeared in the sky today had me mesmerized. Apparently it's quite common in parts of the world - amazing...

Frankenbreak
Anyway. I'm not usually a fan of increasing lot size but the FB is one area where you can do so with a reasonable expectation of payback. In the past, I have run a triple-dip and at the very most you will need four. Now, before anyone throws up their hands, shouts ''martingale'' and runs for the hills, don't do that!!! I ran this when I was in the stress-testing stage and I don't do it now.

Now I simply counter. If the range is of a reasonable size, I may make use of the mid-line, or the mid-line between the half-way to the extreme (thirds-style). It doesn't really matter.

The reason why I am not advocating using doubling-down, is that you really don't need it. Think about it. Your range will be at the very most 20 pips (you are remembering that rule, right?). You go negative. Assuming you counter at the mid-line. You're sorted - nice and calm. Now back to that small range. Later on (assuming it doesn't happen earlier for whatever reason), usually around the US Open, money comes in and you're looking at an entry on a second trigger. You unlock the hedge, closing the bad trade and opening a new entry - however what to remember is that you don't close the other side of the original hedge, so now in effect, you have your double-down.

I genuinely don't think I can ever remember a time when price never breaks that range in the day. Once you're clear, get your hard-stop moved up as fast as your little clicking-finger will click and take what you can. You've got away with another one and you get something in the bag and get set for tomorrow.

AU Dead-Zone
When you get a DZ candle which is all body and no (or very little) wick, it's not the best set-up, as you are basically tossing a coin as you are going to have to enter as soon as the candle closes. In the case of today's AU, you could have looked at the Daily and H4 charts and had a reasonable expectation of the major sell trend continuing.

You then have two options:
(1) Go into a sell right out of the gate and treat it like a lower breakout, or...
(2) Wait for price to make a move. If it plays out by going back up inside the candle, you'd then look for the Wick-Zone trade coming back down out of the upper zone. In this case though, again there is no Wick-Zone to speak of. So you'd be looking to surf the zone - let price go outside completely and then take it short as and when it came back through the zone.

If today's move short didn't get the +5 (which I don't think it did, did it?) then you'd take it long as it come out of the lower ''zone'', which doesn't exist as such but you'd play the extreme edge as if it did.

So in answer to your last question, if there is no WZ, then you treat it like trading a line. Buy if it crosses over going up, sell if it crosses going down.

You can also bring the mid-line into play and trade that line (assuming the candle is large enough to give you breathing room).

Or, of course, you could trade one of the other pairs that do have wick-zones ...