Billytt Die happy trading e/j daily breakout | Page 895 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #17,881
  • May 30, 2017 8:16am May 30, 2017 8:16am
Quoting billytt
Quoting Piphunter00
{quote} Thanks Lem ur always a help!! Lend me ur opinion on this too lem. After billy told me to look into trading small and compounding given my bankroll I ran a a manual test over the last 50 trading days and came up with this. (Done this test on 7:45 cable) 0.5% per pip Hi/low plus/minus a full one pip for entry, helps avoid those God awful trip-ins by 0.2 pips only to be dragged to the other end of the candle. (Over this test this rule hasn't seemed to have damaged any result you can use stops but it adds more problems
...
Thank you bill. I'm trying! I hear you fully countering is a way better solution but i don't think my bankroll could sustain it right now. Lots of situations where you'll need margin for 2-3 counters at a time and even with a broker with better leverage than what I'm working with now would still be a bit scary lol. And bare in mind I done this test completely bare bones. Didn't account for taking the other side if the first break fails on the same day or retracaces and lots of the other mischeviois tricks you guys employ. It was literally a test of, first break happened it either did what was required to be counted a win or it didnt. I'm sure if you or Lem tried to follow the test rules youd take that 75% return to something alot higher.
Whereas I'm yet to develop that intuition for the methods so I wanted something a monkey could almost follow lol
  • #17,882
  • May 30, 2017 8:16am May 30, 2017 8:16am
Quoting bojack34
{quote} Thank you very much! I'll add that to the "notebook"
the note book soon grows with info
Attached Image
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,883
  • May 30, 2017 8:20am May 30, 2017 8:20am
Quoting Piphunter00
{quote}{quote} Thank you bill. I'm trying! I hear you fully countering is a way better solution but i don't think my bankroll could sustain it right now. Lots of situations where you'll need margin for 2-3 counters at a time and even with a broker with better leverage than what I'm working with now would still be a bit scary lol. And bare in mind I done this test completely bare bones. Didn't account for taking the other side if the first break fails on the same day or retracaces and lots of the other mischeviois tricks you guys employ. It was literally...
no problem bud,
you speak of opposite end?
if a short fails and moves up past the 04-00 4 hour bar high it will normally make the Daily Range High or vice versa, thats a tip shhhhhh. You may end up with a few points or many pending on how far it has travelled
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,884
  • May 30, 2017 8:22am May 30, 2017 8:22am
Quoting billytt
{quote} no problem bud, you speak of opposite end? if a short fails and moves up past the 04-00 4 hour bar high it will normally make the Daily Range High or vice versa, thats a tip shhhhhh. You may end up with a few points or many pending on how far it has travelled
another one for the "notebook" Your right my notebook is going to be huuuge before too long! LOL
  • #17,885
  • May 30, 2017 8:22am May 30, 2017 8:22am
Quoting billytt
{quote} no problem bud, you speak of opposite end? if a short fails and moves up past the 04-00 4 hour bar high it will normally make the Daily Range High or vice versa, thats a tip shhhhhh. You may end up with a few points or many pending on how far it has travelled
Do you collect stats that include these lil nuggets of gold billy? Something I can't figure out how to do in a clear way that could help in a trade
  • #17,886
  • May 30, 2017 8:26am May 30, 2017 8:26am
Slow as molasses on futs, so far +18 points dax +10 ticks CL. might call it there.
  • #17,887
  • May 30, 2017 8:28am May 30, 2017 8:28am
Okay-Doakay...I'm done for the day - well my head is, which is the same thing - so here's that run-down of The Witching Hour for BoJack I promised.

It's not perfect as I didn't trade all of these and so I can't swear I'd have taken or not taken any specific trades but I've chosen some set-ups that give a pretty good idea of what's what.

OIL first.
Trade 'A' is straight forward enough (would actually have triggered on the previous candle) - short out of the upper zone. When I am surfing a zone, after the first trade, I will not necessarily go straight back in but instead have a look around first. As a result, I wanted to see what that resistance /pp would do and sure enough price couldn't push past, so that would have got us a second trade ('B') up and through.

Trade 'C' - well this is debatable whether you'd be quick enough to get in on this move back down. My gut says probably not but there it sits anyway.

Trade 'D' - took a while to get going but price-action would probably have stopped me bailing on it and the reward would have come.

Anything after this is heading into the next ''day'' and so I probably wouldn't have been on anything now. You can see there was an area of untested resistance above and that actually gave a nice 1-2-3.

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USDCAD
Trade 'A' again straightforward as a flight North out of Southern Airspace.
Trade 'B' is the one we've been waiting on though, as we get a bounce down out of the resistance made up of the zone and pivots.
Now, there is a good move back up through and yes, 'C' is a valid trade but tbh, I would be more likely to be looking at taking shorts only, as price tries and fails to break the zone above.

You can also see the trades 'C' and 'D' could come on the same candle and when I get these kind of double moves, I look to get out with what I can and leave it to its games.

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  • #17,888
  • May 30, 2017 8:29am May 30, 2017 8:29am
Lem - took 10 out of lt. Looking for a clean break below 50 -just happened - then down to dp.
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  • #17,889
  • May 30, 2017 8:35am May 30, 2017 8:35am
Quoting billytt
{quote} no problem bud, you speak of opposite end? if a short fails and moves up past the 04-00 4 hour bar high it will normally make the Daily Range High or vice versa, thats a tip shhhhhh. You may end up with a few points or many pending on how far it has travelled
Bill, the software you used to use for compounding was this pre mt4? How complicated are order oriented scripts or did you have someone put it together for you?
  • #17,890
  • May 30, 2017 8:45am May 30, 2017 8:45am
Quoting Piphunter00
{quote} Thanks Lem! U must be tired mate cause you must of saw DAX in my post as opposed to cable LOOL! I wouldn't touch that dax for nobody thats billy's mistress lol. I ran this test on cable. And yeah your concern is definitely shared! Cable can be a quick mover too. I'm thinking either attempt to code up something that can help with the compounding or manually setup the compounding orders with tp and sl already set but very far away from price and whichever direction I get tripped in on the bar I'll drag the corresponding compound order to where...
''U must be tired mate cause you must of saw DAX in my post as opposed to cable LOOL.''

Good grief! Lol...All I saw was the time of the bar you were using and my addled brain made the connection to the DAX 07:30 and 07:45 doo-dahs.

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  • #17,891
  • May 30, 2017 8:47am May 30, 2017 8:47am
Quoting lemercenaire
{quote} ''U must be tired mate cause you must of saw DAX in my post as opposed to cable LOOL.'' Good grief! Lol...All I saw was the time of the bar you were using and my addled brain made the connection to the DAX 07:30 and 07:45 doo-dahs. {image}
That witching hour got your sleep messed up again?
  • #17,892
  • May 30, 2017 8:54am May 30, 2017 8:54am
Quoting Piphunter00
{quote} Do you collect stats that include these lil nuggets of gold billy? Something I can't figure out how to do in a clear way that could help in a trade
i have stats going back years and years,
To be honest you dont have to go back too long, Look at Cable for instance, since brexit last June it has acted differently with a big bias to drop..and more volatile which helps in trading especially my 07-45 break.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,893
  • May 30, 2017 8:57am May 30, 2017 8:57am
Quoting Piphunter00
{quote} That witching hour got your sleep messed up again?
Not this time - 7 hour yomp of a walk-in to the foot of a climb and same back out again up in Knoydart.

Inserted Video
  • #17,894
  • May 30, 2017 8:57am May 30, 2017 8:57am
Quoting claudia1
@sb - here's an advisor Ferru coded for me some time back based on e/j day break. Got source code somewhere. {file}
Thank you Claudia ... will use it
trying to make everyday the best risk/reward decisions possible
  • #17,895
  • May 30, 2017 8:57am May 30, 2017 8:57am
Quoting Piphunter00
{quote} Bill, the software you used to use for compounding was this pre mt4? How complicated are order oriented scripts or did you have someone put it together for you?
My software is custom built and is light years over my head, i still love to collate info by hand if i can, looking at charts for patterns , such as frequency distribution as named by one of the guys in here. I collate info without knowing it already has a name lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,896
  • May 30, 2017 8:58am May 30, 2017 8:58am
i am off again, catch you later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,897
  • May 30, 2017 9:07am May 30, 2017 9:07am
Quoting billytt
{quote} My software is custom built and is light years over my head, i still love to collate info by hand if i can, looking at charts for patterns , such as frequency distribution as named by one of the guys in here. I collate info without knowing it already has a name lol
Will have to see if I can build or get someone to help in building a script that will set up an automatic order after an first position is open.
Anyone know a guy lol?
  • #17,898
  • May 30, 2017 9:44am May 30, 2017 9:44am
Quoting lemercenaire
{quote} Not this time - 7 hour yomp of a walk-in to the foot of a climb and same back out again up in Knoydart. https://www.youtube.com/watch?v=SO1QUy-HTHQ
You went camping?
  • #17,899
  • May 30, 2017 10:20am May 30, 2017 10:20am
Quoting lemercenaire
Okay-Doakay...I'm done for the day - well my head is, which is the same thing - so here's that run-down of The Witching Hour for BoJack I promised. It's not perfect as I didn't trade all of these and so I can't swear I'd have taken or not taken any specific trades but I've chosen some set-ups that give a pretty good idea of what's what. OIL first. Trade 'A' is straight forward enough (would actually have triggered on the previous candle) - short out of the upper zone. When I am surfing a zone, after the first trade, I will not necessarily go straight...

THANK YOU FOR THIS!

DEADZONE or WITCHING HOUR better suited for Airspace trades?

Also annotations for counter if these go sour?

THANK YOU LEM!
  • #17,900
  • May 30, 2017 11:25am May 30, 2017 11:25am
Quoting claudia1
Lem - took 10 out of lt. Looking for a clean break below 50 -just happened - then down to dp. {image}
Didn't get there but still a good day.
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