Billytt Die happy trading e/j daily breakout | Page 898 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #17,941
  • May 31, 2017 5:38pm May 31, 2017 5:38pm
Anyway, that was my day - here's how things looked across all the chart options...

EURJPY
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1DeadZone31stMay17FullDay.png Size: 31 KB


USDCAD
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1DeadZone31stMay17FullDay.png Size: 30 KB


AUDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1DeadZone31stMay17FullDay.png Size: 31 KB


USDNOK
Attached Image (click to enlarge)
Click to Enlarge Name: USDNOKH1DeadZone31stMay17FullDay.png Size: 38 KB


GBPNZD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDH1DeadZone31stMay17FullDay.png Size: 34 KB
  • #17,942
  • May 31, 2017 5:40pm May 31, 2017 5:40pm
AUDNZD
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH1DeadZone31stMay17FullDay.png Size: 32 KB


GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1DeadZone31stMay17FullDay.png Size: 31 KB


CADJPY
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH1DeadZone31stMay17FullDay.png Size: 30 KB


NZDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1DeadZone31stMay17FullDay.png Size: 33 KB


NZDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1DeadZone31stMay17FullDay.png Size: 34 KB
  • #17,943
  • May 31, 2017 5:42pm May 31, 2017 5:42pm
XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1DeadZone31stMay17FullDay.png Size: 30 KB


USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1DeadZone31stMay17FullDay.png Size: 33 KB


GBPJPY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1DeadZone31stMay17FullDay.png Size: 33 KB


GER30
Attached Image (click to enlarge)
Click to Enlarge Name: GER30H1DeadZone31stMay17FullDay.png Size: 33 KB


OILUSD
Attached Image (click to enlarge)
Click to Enlarge Name: OILUSDH1DeadZone31stMay17FullDay.png Size: 26 KB
  • #17,944
  • May 31, 2017 6:51pm May 31, 2017 6:51pm
Hi, i went dancing earlier and ALONE,, and it was goooood .
My lady had work on.
She is going to see Take That Thur evening with her friend, and her friend is jealous as i have looked after the band many times in the past...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,945
  • May 31, 2017 6:53pm May 31, 2017 6:53pm
[quote=claudia1;9927214]{quote} I got four monitors - day, 4h, 1h and 15 min. Trade mainly cable and usually from NY open these days - don't know why as I was trained on LO. 99% trades are sells. Don't know why. 1h is my guide but closely watch 15 min. Unlike most here I don't chase pips I chase 's

and my 1 pip is 1%, so 5 pips/points is 5%. it is easy that way lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,946
  • May 31, 2017 7:04pm May 31, 2017 7:04pm
[quote=billytt;9930034]
Quoting claudia1
{quote} I got four monitors - day, 4h, 1h and 15 min. Trade mainly cable and usually from NY open these days - don't know why as I was trained on LO. 99% trades are sells. Don't know why. 1h is my guide but closely watch 15 min. Unlike most here I don't chase pips I chase 's and my 1 pip is 1%, so 5 pips/points is 5%. it is easy that way lol
Didn't mean you Billy.

I'm only posting like this as I'm getting asked to on ping a lot. I go quiet.
  • #17,947
  • May 31, 2017 7:23pm May 31, 2017 7:23pm
[quote=billytt;9930034]
Quoting claudia1
{quote} I got four monitors - day, 4h, 1h and 15 min. Trade mainly cable and usually from NY open these days - don't know why as I was trained on LO. 99% trades are sells. Don't know why. 1h is my guide but closely watch 15 min. Unlike most here I don't chase pips I chase 's and my 1 pip is 1%, so 5 pips/points is 5%. it is easy that way lol
I really like using the percentage target now. I did use it when running horse-trading methods but had never really considered it for this trading until Billy mentioned it. Wouldn't go back now.
  • #17,948
  • May 31, 2017 7:52pm May 31, 2017 7:52pm
[quote=claudia1;9930046]
Quoting billytt
{quote} Didn't mean you Billy. I'm only posting like this as I'm getting asked to on ping a lot. I go quiet.
They want the infoooooo the glorious infooo... but what I know the most is that practice is key
  • #17,949
  • May 31, 2017 8:12pm May 31, 2017 8:12pm
was not concentrating ,didn't put TP in quick enough to get 1st spike ..ok now tho
Attached Image (click to enlarge)
Click to Enlarge Name: ej 1.JPG Size: 47 KB
  • #17,950
  • Edited Jun 1, 2017 12:33am May 31, 2017 9:23pm | Edited Jun 1, 2017 12:33am
EJ DB continue is wining streak ... wednesday +20 Thursday +20

Just for information , below a very interesting document about risk management .....but nothing to challenge billytt risk management , because after months of study , what billytt explain in this thread really make sense, its more about partial TP issue, and add entries on retracement issues.
dont be impressed by the math in the document , but try to get the spirit of the conclusions.....
Attached File(s)
File Type: pdf Expectancy management.pdf   948 KB | 306 downloads
trying to make everyday the best risk/reward decisions possible
  • #17,951
  • Jun 1, 2017 12:30am Jun 1, 2017 12:30am
Well done guys. Good posts and charts. :-)
Onwards and upwards...
  • #17,952
  • Jun 1, 2017 12:34am Jun 1, 2017 12:34am
[quote=claudia1;9930046]
Quoting billytt
{quote} Didn't mean you Billy. I'm only posting like this as I'm getting asked to on ping a lot. I go quiet.
You all give some great advice here , some people who ping you should get on this forum, contribute , read up and study, like what we do....thanks again
Onwards and upwards...
  • #17,953
  • Jun 1, 2017 12:49am Jun 1, 2017 12:49am
Quoting lemercenaire
{quote} 'Morning, FK. Yeah, looks like just came up short. You'd have to put your counter hat on, though not a whole lot of room and I obviously don't know how fast this moved at the time. If you'd been really quick, then you could have jumped in as price just-about touched the lower zone. I don't really like these set-ups that come right in the middle of two S+D zones and with pivots tight on either side - to me, it's telling me price could go anywhere (and of course that candle range is small on top of all of that). {image}

Id love to know a good counter method for this bc I'm bringing to believe these setups are kinda subjective as oppose to objective and as I would've seen it as an appropriate set-up.

How could i setup a proper counter for something like this?
  • #17,954
  • Jun 1, 2017 12:49am Jun 1, 2017 12:49am
Quoting faatkumo
{quote} Id love to know a good counter method for this bc I'm bringing to believe these setups are kinda subjective as oppose to objective and as I would've seen it as an appropriate set-up. How could i setup a proper counter for something like this?
How far away? Lot size same or bigger? Etc
  • #17,955
  • Jun 1, 2017 1:08am Jun 1, 2017 1:08am
In fact when it comes to risk management , the pdf conclusion is the same than Billytt one i presume .

Partial TP : not a good solution
Trailing SL to break even after X pips : not a good solution
Partial TP + trailing stop SL to BE : Not a good solution
Scaling out of a losing position : not a good solution

Adding to the position after a few pips positive : not bad... got potential
Adding to the position after a few negative points : really good solution (Billytt retracement entries)

Conclusion : it fit exactly what billytt explain to us here on the thread .... and now you have the Maths behind the concept to proof he is really right
trying to make everyday the best risk/reward decisions possible
  • #17,956
  • Jun 1, 2017 1:43am Jun 1, 2017 1:43am
Quoting lemercenaire
{quote} EAs and I don't get on (usually), just ask Claudia. However, I have a guy I worked on a thing with that turned out very, very, well a month or so ago and so I guess he owes me. I'll sound him out. 06:00-08:00 I stumbled across as I was scanning some old posts (I was asked when I started posting and was curious myself, as I didn't remember exactly). Post 10148 gives some Billy-stats (will blow your mind) and the additional info is around that area as well. It looks very, very, very, good. I've only used JFD on demo for their charts, sorry....
Thanks for the response as always Lem! I need something that can sort out either the first orders for me (candle high and low) or the compound orders, makes things alot easier. Although yesterday I managed to get it all done and on my phone! Cable was very generous in terms of the time it gave me yesterday and alot of the time it's alot quicker.
  • #17,957
  • Jun 1, 2017 2:24am Jun 1, 2017 2:24am
Missed the Frankenbreak this morning. Oh well. Made the tp easily - well, easily is perhaps a tad exaggerated, lol. Went for a wander first but hey, it got there.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15FB1stJune17.png Size: 36 KB
  • #17,958
  • Jun 1, 2017 2:32am Jun 1, 2017 2:32am
Second day of the DAX-Monster 06.00-08.00...Second day of +5% in the blink of an eye (and no hesitation over direction).

Attached Image


I even channelled my Inner-Billy after that and added in some extra % % on the retrace .

If I had run it the way I had originally been looking at off the 07:55 bar, then I would (again) have to have used a super-fast counter - though would have come out the other end ok.
  • #17,959
  • Edited 3:16am Jun 1, 2017 3:01am | Edited 3:16am
Quoting faatkumo
{quote} Id love to know a good counter method for this bc I'm bringing to believe these setups are kinda subjective as oppose to objective and as I would've seen it as an appropriate set-up. How could i setup a proper counter for something like this?
You were a little unlucky with this one. If the candle had been slightly larger, the usual price action you get would likely have given you enough of a move down out of the upper zone.

Taking all additional information out of the equation (S+D zones, pivots or whatever), the smaller candle would have been the main reason I would have hesitated to take this. Remember, I prefer taking the moves that come back inside the candle over breakouts, so I need a little room to manoeuvre.

Of course there is an element of subjectivity, when I have 15 charts to choose from, there has to be some kind of editing going on. However, it is only recently that I have started to look for additional info from S+D and pp, as when I started out running this, I would go on the price-action and surrounding ''landscape'' only, looking at the charts as I saw them in the style of those I post up at the end of the day.

As for countering, I use the same basic techniques as Billy does, looking to hold a negative move in limbo until I get the next valid trigger. This is how I have begun to use the Mid-Line more recently.

At its most basic, keeping your options to EJ, UC and AU (with GU and CJ as fall-backs) will keep you right.

On the lot size, the counter is the same size and the second trigger is double (usually).
  • #17,960
  • Jun 1, 2017 3:07am Jun 1, 2017 3:07am
I hope everyone is having fun trading. I'll be back next week. No trading this week for me.
10 traders viewing now