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Billytt Die happy trading e/j daily breakout
- #17,522
- May 15, 2017 4:11pm May 15, 2017 4:11pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
XAUUSD
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GER30
OILUSD
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OILUSD
- #17,524
- Edited May 16, 2017 1:06am May 15, 2017 4:42pm | Edited May 16, 2017 1:06am
Today's trading results: 
- EURGBP FB(?) +24.2 pips (First trade: +5.0 pips, Second trade: -4.6-17.6-9.3-9.3+15.0+15.0+15.0+15.0)
I was late and already missed the clean 5 pips down. I still wanted to trade and remembered Lem saying that FB lines can be used throughout the day just like the Witching Hour, so I decided to trade. I broke a lot of rules though and didn't trade exactly based on FB lines. I should be careful not to do this again in the future. I'm not too happy with how I traded today. Anyway, there were two trades.
First trade: Price retraced up after the first FB low break, but shot right back down and broke FB low again. I liked the price action on the M5, so I shorted and aimed for +5.0 pips. I got a clean 5 pips. If price went back up, I would have countered at FB middle and begin the battle with the markets.
Second trade: Price retraced back up again, but shot right back down, leaving a long wick on M5. This was a very impulsive trade, not based on lines.
I thought price could keep going down as it broke the FB range. I aimed for 5 pips, but it didn't reach my target. Price went back up. I countered at FB middle. Price went back down to FB low, so I closed the buy counter and added two sell positions. Price went back up. At FB high, I closed all three sells and added 4 buy positions. I thought price could go up a lot after breaking FB high because it failed to move lower after breaking FB low. I aimed for about 12 pips above FB high around yesterday's high to cover my losses. I closed all positions at FB 261.8 fib. If price went back down, I was willing to counter and keep the trade in limbo at FB fib 50 or 38.2. Luckily, that didn't happen. 
EURGBP M5
Price moved slowly and kept going up and down, but no counter was needed. I was willing to counter at FB middle.
- #17,527
- May 16, 2017 2:26am May 16, 2017 2:26am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Today's trading results: EURGBP FB(?) +24.2 pips (First trade: +5.0 pips, Second trade: -4.6-17.6-9.3-9.3+15.0+15.0+15.0+15.0) I was late and already missed the clean 5 pips down. I still wanted to trade and remembered Lem saying that FB lines can be used throughout the day just like the Witching Hour, so I decided to trade. I broke a lot of rules though and didn't trade exactly based on FB lines. I should be careful not to do this again in the future. I'm not too happy with how I traded today. Anyway, there were two trades. First trade: Price retraced...
Sorry, missed your post last night. Sounds like you had yourself a bit of an adventure
. If it's any consolation, been there, crapped that, lol. While I worked out what I was running on The FB, this was a pretty regular occurrence. Before I worked out that I was going to restrict the thing to EG, I ran it on multiple pairs and the different behaviour of those pairs meant that I got lots of practice getting myself out of trouble! Basically I was making it up as I went along. I think it's a process every trader goes through. If you always keep in mind that you can run WZ principles on pretty much every candle, then you will come out the other side just fine.
- #17,528
- May 16, 2017 2:30am May 16, 2017 2:30am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
On to today. A nice, steady, drift upward bagged the FB base and it looks like it's continuing on up for a while yet.
- #17,529
- May 16, 2017 3:38am May 16, 2017 3:38am
{quote} Hi SFX. Sorry, missed your post last night. Sounds like you had yourself a bit of an adventure
I do feel like I was pretty lucky during my stressful days, and I kind of want to experience a loss to see how I would recover, just to prove to myself that I can do this in the long run. I don't want to lose, but I want to lose. You get what I mean? LOL 
Anyway, I'm happy with my account growth and consistent approach in trading. I'm so glad I found this thread!This is just me, but I feel more attracted to FB and DZ because of the relatively small range compared to 4 hour or daily candles. FB and DZ seem to give more than enough opportunities to trade, but the greedy side of me wants to gather more trading tools. Maybe I should check out the Witching Hour.
- #17,531
- Edited 6:58am May 16, 2017 6:36am | Edited 6:58am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} As always, thank you for the feedback Lem. I really learned a lot from you and I am very happy with this trading approach. It's funny how the stressful days where I had to counter several times were the days I profited the most, but I still prefer clean 5-pip trades.
Well, you could do worse things
.I've talked before with Mr-T about how his beloved UC seems particularly suited to surfing the Witching Hour all day. Here's an eg:
First chart with last night's WH flying solo as it stands just now...
This one, shows it supercharged with S+D and PP added and the DZ candle about to set-up. Unfortunately the way I have my indis set up, I cannot show you one with both zones as they played out yesterday, as my DZ one is already keyed to activate on today's candle. I'll stick today's up later on tonight.
Even taken on its own though, see how easy it is to surf that overnight zone? As you are trading from the US, it is even easier for you. I am also not saying that UC is the only one it works with, just that it seems a natural for it.
You're more than welcome re the feedback, it's genuinely a pleasure.
- #17,532
- May 16, 2017 6:54am May 16, 2017 6:54am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} ''Maybe I should check out the Witching Hour''. Well, you could do worse things
One caveat is, as always, the spread in this session - you'll probably be bombed out of GN and in fact most NZD pairs for instance - but just do your due diligence as always and you'll figure it out.
Have fun! (...and post your charts
)
- #17,534
- May 16, 2017 7:11am May 16, 2017 7:11am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
...and GU long
- #17,535
- May 16, 2017 7:40am May 16, 2017 7:40am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
A bit hectic there for a mo'...
Stepping back for a brew and thought I may as well stick up the Diff trade from this am. Played out very nicely - as a straight forward WZ set-up, as always. Love it...
Brent-Us Crude 05.00 H4 Break Diff-Trade
Back to it...
Stepping back for a brew and thought I may as well stick up the Diff trade from this am. Played out very nicely - as a straight forward WZ set-up, as always. Love it...
Brent-Us Crude 05.00 H4 Break Diff-Trade
Back to it...
- #17,536
- May 16, 2017 7:58am May 16, 2017 7:58am
- Joined Apr 2013 | Status: Trader | 10,297 Posts
...and GU long
- #17,537
- May 16, 2017 8:38am May 16, 2017 8:38am
- Joined Mar 2012 | Status: Trader | 14,309 Posts
14:00 EXPRESS
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