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Billytt Die happy trading e/j daily breakout

  • #17,981
  • Jun 1, 2017 9:01am Jun 1, 2017 9:01am
[quote=soccerfan;9930640]
Quoting claudia1
{quote} 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
Quiet day today so far but last night finished well.
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  • #17,982
  • Jun 1, 2017 9:20am Jun 1, 2017 9:20am
Quoting lemercenaire
{quote} You asking me, Billy? I was asking SFX if the reason he wasn't trading this week had some interesting reason.
lol, looks like i was txting my girl, yes i was asking you Lem what was interesting??? but thanks for the answer. Hope all is well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,983
  • Jun 1, 2017 9:24am Jun 1, 2017 9:24am
Quoting lemercenaire
{quote} When I was trialing the Frankfurt Break I would often get into s .
I never, ever, counter-a-counter now.

countering a counter is a totally different trading method which i have tried and gave up do to having a better method.
But countering next trigger is ok, Once they start working it is like a machine
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,984
  • Jun 1, 2017 9:38am Jun 1, 2017 9:38am
Quoting billytt
{quote}[/color] countering a counter is a totally different trading method which i have tried and gave up do to having a better method. But countering next trigger is ok, Once they start working it is like a machine
Hmmm trying to decode this lol countering the next trigger is ok.. So don't take the initial trigger bet on it to fail and take the other way if it does?
  • #17,985
  • Jun 1, 2017 10:29am Jun 1, 2017 10:29am
Quoting Piphunter00
{quote} This is the conclusion I've come to, cause it can happen even if it's a completely statistical outlier and will never happen again no point letting it ruin you. So with what you have said here Lem, when taking the second trigger do you double up the lot size or jus go with the same amount? And have a stop loss in for that position as opposed to another counter? Seriously considering going live soon so trying to work out all kinks. Thanks again Lem
I will double the second trigger and yes, I will usually have a hard-stop (more to stop me changing my mind and going after it if the worst does happen, lol).
  • #17,986
  • Jun 1, 2017 10:31am Jun 1, 2017 10:31am
[quote=claudia1;9932680]
Quoting soccerfan
{quote} Quiet day today so far but last night finished well. {image}
That +£0.40 is letting the side down, Claudia - give yourself a good talking to.
  • #17,987
  • Jun 1, 2017 10:34am Jun 1, 2017 10:34am
Quoting lemercenaire
{quote} I will double the second trigger and yes, I will usually have a hard-stop (more to stop me changing my mind and going after it if the worst does happen, lol).
By not countering the counter does this mean then that when the first trade fails you don't double the size on the other end, you hold that bad trade with the same lot size and then when yet another break happens you then double up with a stop? Am I reading into this correctly lol sorry if I'm sounding stupid! Still baffled trying to decode what billy said about countering the next trigger is ok and works like a machine as opposed to countering the counter
  • #17,988
  • Jun 1, 2017 10:34am Jun 1, 2017 10:34am
Quoting billytt
{quote}[/color] countering a counter is a totally different trading method which i have tried and gave up do to having a better method. But countering next trigger is ok, Once they start working it is like a machine
The way I was thinking of it being wrong is when it gets into a constant doubling-down of the first move situation. Holding any initial bad trade in limbo and releasing it later is sooooooo much simpler and stress-free. I don't have any issue with countering any second trigger.
  • #17,989
  • Jun 1, 2017 10:34am Jun 1, 2017 10:34am
[quote=lemercenaire;9933135]
Quoting claudia1
{quote} That +0.40 is letting the side down, Claudia - give yourself a good talking to.
Yep wasn't good. But it could have been worse could have been a buy.
  • #17,990
  • Jun 1, 2017 10:37am Jun 1, 2017 10:37am
Quoting Piphunter00
{quote} By not countering the counter does this mean then that when the first trade fails you don't double the size on the other end, you hold that bad trade with the same lot size and then when yet another break happens you then double up with a stop? Am I reading into this correctly lol sorry if I'm sounding stupid! Still baffled trying to decode what billy said about countering the next trigger is ok and works like a machine as opposed to countering the counter
Yes.

It's easier to do than explain, honest!
  • #17,991
  • Jun 1, 2017 10:43am Jun 1, 2017 10:43am
[quote=claudia1;9933150]
Quoting lemercenaire
{quote} Yep wasn't good. But it could have been worse could have been a buy.
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  • #17,992
  • Jun 1, 2017 10:44am Jun 1, 2017 10:44am
Quoting lemercenaire
{quote} Yes. It's easier to do than explain, honest!
I think I get it now, so your not trying to make back the 'limbo loss on the immediate break of the other end that triggered your counter in the first place, you trap the loss with the same lot size and then if that whips back again then you slam it with double and have a stop loss. (Is the double only used for brute force to make it easier to recoup the loss or can this be done with the same size as the first trade and still work better than taking outright stop losses on all failed trades ). About what billy said Lem, is this basically what we're talking about now or is he referring to something else
  • #17,993
  • Jun 1, 2017 11:19am Jun 1, 2017 11:19am
Quoting lemercenaire
{quote} The way I was thinking of it being wrong is when it gets into a constant doubling-down of the first move situation. Holding any initial bad trade in limbo and releasing it later is sooooooo much simpler and stress-free. I don't have any issue with countering any second trigger.
Could I please get an explanation of these please?? I don't understand exactly how to counter trade a losing trade yet. From all of my research so far it sounds like that is a fairly important part of a couple of your strategies. Thanks for all your help!!! Green pips to all of you!!!

...."Holding any initial bad trade in limbo and releasing it later is sooooooo much simpler and stress-free. I don't have any issue with countering any second trigger".

......AND.......

.."countering next trigger"..
  • #17,994
  • Jun 1, 2017 11:26am Jun 1, 2017 11:26am
Quoting bojack34
{quote} Could I please get an explanation of these please?? I don't understand exactly how to counter trade a losing trade yet. From all of my research so far it sounds like that is a fairly important part of a couple of your strategies. Thanks for all your help!!! Green pips to all of you!!! ...."Holding any initial bad trade in limbo and releasing it later is sooooooo much simpler and stress-free. I don't have any issue with countering any second trigger". ......AND....... .."countering next trigger"..
Instead of setting a stop loss you put another order for the same size in the other direction, so if you bought a 1 lot you sell a 1 lot where you would put ur stop loss
  • #17,995
  • Jun 1, 2017 11:42am Jun 1, 2017 11:42am
Quoting Piphunter00
{quote} Instead of setting a stop loss you put another order for the same size in the other direction, so if you bought a 1 lot you sell a 1 lot where you would put ur stop loss
That makes total sense. Would you double your "target" (pips) on trade #2? ....to make up for the loss of trade #1? I would think you would double your lot size on trade #2 but since we are not do we increase our "target" (pips)? One other thing I don't fully understand is what do we do with trade #1? When do we CLOSE the trade? How far/long do we let it go 'bad"??
  • #17,996
  • Jun 1, 2017 12:01pm Jun 1, 2017 12:01pm
Quoting bojack34
{quote} That makes total sense. Would you double your "target" (pips) on trade #2? ....to make up for the loss of trade #1? I would think you would double your lot size on trade #2 but since we are not do we increase our "target" (pips)? One other thing I don't fully understand is what do we do with trade #1? When do we CLOSE the trade? How far/long do we let it go 'bad"??
When you've made the loss back cut it out and be flat as if it never happened. That's literally all i know, as you can see im still questioning billy and Lem about it. I think if either one clears up my last question for us that might be all that's needed to get going. It's all about not getting caught out on the 'second trigger' which sounds to me more like a 'third break' if the idea is not to double up on the same break that triggered the counter but double up on the break that happens after the counter. If any of that makes sense lol but be vary wary and always conscious of margin when trading like this. This is why I asked Lem if instead of doubling up jus taking the next trigger with the same lot size to try and recoup is feasible because margin can get to scary levels
  • #17,997
  • Jun 1, 2017 12:24pm Jun 1, 2017 12:24pm
Sounds like Billy and Lem need to mark up a few charts showing how and when to counter. Maybe MichaelG could write a book.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,998
  • Jun 1, 2017 1:48pm Jun 1, 2017 1:48pm
Been a tough day but finished ahead. I know where I'm going.
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  • #17,999
  • Jun 1, 2017 3:59pm Jun 1, 2017 3:59pm
Quoting Piphunter00
{quote} I think I get it now, so your not trying to make back the 'limbo loss on the immediate break of the other end that triggered your counter in the first place, you trap the loss with the same lot size and then if that whips back again then you slam it with double and have a stop loss. (Is the double only used for brute force to make it easier to recoup the loss or can this be done with the same size as the first trade and still work better than taking outright stop losses on all failed trades ). About what billy said Lem, is this basically...
Yeah, I do like a bit of brute force now and again. You can keep it all on a level if you are more civilised.

Billy and I pretty much run the same game on all this, with minor differences here and there. The basic concept is the same. Birds of a feather and all that.
  • #18,000
  • Jun 1, 2017 4:00pm Jun 1, 2017 4:00pm
Quoting Piphunter00
{quote} Instead of setting a stop loss you put another order for the same size in the other direction, so if you bought a 1 lot you sell a 1 lot where you would put ur stop loss
Wot he sed...
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