Billytt Die happy trading e/j daily breakout | Page 865 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #17,281
  • May 3, 2017 4:23pm May 3, 2017 4:23pm
Sorry to hear you have had a rubbish day Lem....may tomorrow be a better one!
  • #17,282
  • May 4, 2017 12:41am May 4, 2017 12:41am
Yesterday +20 on e/j long daily break ... and this morning still in .... long

Edit : Less is more ..... i got it ...
Edit : Billytt put some more after sun cream on your shoulders ... its still red ...
trying to make everyday the best risk/reward decisions possible
  • #17,283
  • May 4, 2017 1:38am May 4, 2017 1:38am
Today's trading results:

  1. EURGBP FB +5.1 pips
    Sold at FB low. Price reversed and reached FB high. Closed the sell and opened a buy with double the position size. Accidentally closed the buy (...), so I re-entered. This all happened in about 30 minutes, so it wasn't too stressful.

EURGBP M15

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  • #17,284
  • May 4, 2017 2:20am May 4, 2017 2:20am
As SFX says above, it all kind of happened in slo-mo this morning over on the Frankenbreak. A small head-fake South turned back in and I rode the resulting counter back North. No real drama.

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  • #17,285
  • May 4, 2017 2:26am May 4, 2017 2:26am
Things to remember for today:
Bank Holiday in Japan.
Red news for USD and CAD (that means you, Mr-T) right around the US Open. There's a BoC announcement at the end of the day (UK time) as well as an added sauce.

Secondary level (for me and what I intend to be looking at today, anyway) is red on the GBP in an hour and then on the EUR in the evening when idiot-brain Draghi will ramble on about something or another.

Have fun, folks!
  • #17,286
  • May 4, 2017 2:33am May 4, 2017 2:33am
Quoting Pent56
Sorry to hear you have had a rubbish day Lem....may tomorrow be a better one!
Thanks!
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  • #17,287
  • May 4, 2017 3:16am May 4, 2017 3:16am
Quoting slowbrain
Yesterday +20 on e/j long daily break ... and this morning still in .... long Edit : Less is more ..... i got it ... Edit : Billytt put some more after sun cream on your shoulders ... its still red ...
E/J daily break +20 ticks ..... as usual less is more
trying to make everyday the best risk/reward decisions possible
  • #17,288
  • May 4, 2017 3:48am May 4, 2017 3:48am
Quoting slowbrain
{quote} E/J daily break +20 ticks ..... as usual less is more
Great trading..what S L did you use? Cheers
Onwards and upwards...
  • #17,289
  • May 4, 2017 3:57am May 4, 2017 3:57am
@slowbrain, how are you getting on with the CCFp basket trading?
Where's claudia and billy???
used to be undecided but nowadays can't make my mind up
  • #17,290
  • May 4, 2017 3:58am May 4, 2017 3:58am
Quoting mrcreosote
@slowbrain, how are you getting on with the CCFp basket trading? Where's claudia and billy???
Claudia is off being Claudia and Billy is on his hols with his lady friend!
  • #17,291
  • May 4, 2017 4:01am May 4, 2017 4:01am
Quoting soccerfan
{quote} Great trading..what S L did you use? Cheers
Be ready .... i'm using 38 pips SL

Edit :
1.
if SL is executed i open a reverse position with 20 ticks TP
2.
and in fact i run 2 trades every day one with 20 TP (loaded like an aircraft carrier) and second position with 30 TP

SB
trying to make everyday the best risk/reward decisions possible
  • #17,292
  • Edited 4:16am May 4, 2017 4:03am | Edited 4:16am
Quoting mrcreosote
@slowbrain, how are you getting on with the CCFp basket trading? Where's claudia and billy???
about basket trading I'm evaluating different options ... i'm concern about DD .... i'm currently working on a different MM (scale-in the entries)

Edit : to be honest i think the basket EA have a huge potential ... but .... there is always a but ... i take full time brain on it ... i dont believe its so simple .. trade and forget .... you need to manage at least exits manually .. you need to manage the list of currencies to put in basket , as Claudia said from the first day to open a 28 currencies basket you need very deep pocket .

this is my 2 cents thinking up to today
trying to make everyday the best risk/reward decisions possible
  • #17,293
  • Edited 4:28am May 4, 2017 4:15am | Edited 4:28am
Quoting slowbrain
{quote} about basket trading I'm evaluating different options ... i'm concern about DD .... i'm currently working on a different MM (scale-in the entries)
DD seems quite low with this one....
Last time I tried scaling in on the DAX I nearly got massacred lol. Good luck
Edit: having said that, EJ long off the H4 close and a bit of scaling and I might have been able to afford one of the tyres on this thing, vroom, vroom
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used to be undecided but nowadays can't make my mind up
  • #17,294
  • May 4, 2017 4:34am May 4, 2017 4:34am
Quoting slowbrain
{quote} about basket trading I'm evaluating different options ... i'm concern about DD .... i'm currently working on a different MM (scale-in the entries) Edit : to be honest i think the basket EA have a huge potential ... but .... there is always a but ... i take full time brain on it ... i dont believe its so simple .. trade and forget .... you need to manage at least exits manually .. you need to manage the list of currencies to put in basket , as Claudia said from the first day to open a 28 currencies basket you need very deep pocket . this...
I have been testing as well. I have been opening at around the LO but I don't have a fixed time. I scan the pairs and then open sometime between FO & early London session trying to catch any retraces. Results have been good. Posted in the other thread but my results for this week (from Tuesday). Opening 3 baskets at this stage - 2 testing weekly timeframe on indi but daily entry and 1 using daily tf on indi. Tested the last couple of weeks (slightly different settings) with good results. Only on 1 day last week did I have DD which would have made me close the basket if it had been live.....it did come back to finish +ve later in the day.
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  • #17,295
  • May 4, 2017 4:37am May 4, 2017 4:37am
Quoting slowbrain
{quote} about basket trading I'm evaluating different options ... i'm concern about DD .... i'm currently working on a different MM (scale-in the entries) Edit : to be honest i think the basket EA have a huge potential ... but .... there is always a but ... i take full time brain on it ... i dont believe its so simple .. trade and forget .... you need to manage at least exits manually .. you need to manage the list of currencies to put in basket , as Claudia said from the first day to open a 28 currencies basket you need very deep pocket . this...
Yeah I'm interested in Claudia's take on this.....
FYI the default basket took 15 trades this am at London open, 7% return within an hour......
Changing the settings to use daily and true/false, took 9 trades, 10% return within an hour.....
YMMV
used to be undecided but nowadays can't make my mind up
  • #17,296
  • May 4, 2017 4:51am May 4, 2017 4:51am
Quoting mrcreosote
{quote} DD seems quite low with this one.... Last time I tried scaling in on the DAX I nearly got massacred lol. Good luck
Scale in with a define maximum risk ... let say you scale in within 35 pips with 0.60% risk maximum ..... there is nothing wrong or suicidal ....
what is suicidal is to be counter trend without following simple precautions ... if i m contrarian i'm waiting FIRST a successful counter attack first before to enter ...
but if you are contrarian on a spike and you dont wait for a successful counter attack first ...this is suicidal attitude
i'm not expecting a reversal of trend .... i'm expecting a pullback .... so i'm contrarian looking to enter after confirmation of pullback . and im not saying it works on every currencies but on EURUSD it works .... trend is a fairy tale on eurusd ....and i'm always contrarian short .... never long on EURUSD but i repeat i wait first a successful counter attack before to enter and my maximum risk is at 0.60% per 35 ticks (so it means if i lose 3 round of 35 ticks i'm losing 2% of my equity).... and if my trade is positive i add to my winning position this is the key of success its not the entry itself its how you manage your winning trades .i need to admit on eurusd i'm kind of guy that add on winning trades ,scale in and scale out ,with always a maximum risk in mind ...
in fact the 35 ticks for me its only the first round of a match ...

my golden rule on EURUSD : any move of at least 50 ticks without 50% pullback = trend change ... so don't be contrarian .
and believe me DAX should be the worst trading pair its often moving oneway ... with no pullback ... Dax is not as simple as before believe me
trying to make everyday the best risk/reward decisions possible
  • #17,297
  • May 4, 2017 4:59am May 4, 2017 4:59am
Quoting mrcreosote
{quote} Yeah I'm interested in Claudia's take on this..... FYI the default basket took 15 trades this am at London open, 7% return within an hour...... Changing the settings to use daily and true/false, took 9 trades, 10% return within an hour..... YMMV
I got a simple question : to make 7% to 10% within an hour ... what is your maximum theoretical risk ? if trade is going against you what is your pain tolerance in % before to give up ?

Edit : my view on trading is : its not how much you win that is important but how much you loose when you fail
trying to make everyday the best risk/reward decisions possible
  • #17,298
  • May 4, 2017 6:32am May 4, 2017 6:32am
Quoting slowbrain
{quote} I got a simple question : to make 7% to 10% within an hour ... what is your maximum theoretical risk ? if trade is going against you what is your pain tolerance in % before to give up ? Edit : my view on trading is : its not how much you win that is important but how much you loose when you fail
Changed to true/false now updates basket daily.

Interesting - got t/p at 40 this took near double that.
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  • #17,299
  • May 4, 2017 6:33am May 4, 2017 6:33am
Quoting slowbrain
{quote} Scale in with a define maximum risk ... let say you scale in within 35 pips with 0.60% risk maximum ..... there is nothing wrong or suicidal .... what is suicidal is to be counter trend without following simple precautions ... if i m contrarian i'm waiting FIRST a successful counter attack first before to enter ... but if you are contrarian on a spike and you dont wait for a successful counter attack first ...this is suicidal attitude i'm not expecting a reversal of trend .... i'm expecting a pullback .... so i'm contrarian looking to enter...
''...trend is a fairy tale on eurusd...''

Love it, lol...
  • #17,300
  • May 4, 2017 6:44am May 4, 2017 6:44am
Quoting mrcreosote
{quote} Yeah I'm interested in Claudia's take on this..... FYI the default basket took 15 trades this am at London open, 7% return within an hour...... Changing the settings to use daily and true/false, took 9 trades, 10% return within an hour..... YMMV
Mine opened 01.00 and closed 11.37 only 5 trades.
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