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Billytt Die happy trading e/j daily breakout

  • #18,061
  • Jun 2, 2017 3:14am Jun 2, 2017 3:14am
Quoting claudia1
{quote} On a different note - if you into breakouts go search FXHard and SSBO thread. Basically identifying consolidation zones and waiting for the break. Worth a read of first post.
I did a lot of research on the SSBO thread. It's very interesting and the EA is pretty good but my only problem is figuring out the correct buffer zone and the appropriate TP tartget. It makes me see consolidation in a different way now.
  • #18,062
  • Jun 2, 2017 3:18am Jun 2, 2017 3:18am
Quoting turnip15
{quote} Had to put on my sunglasses to look at it
Hi Mr T, hope all is well, i was going to ping you but something happened and i forgot lol.
My Lady is giving me grief and she may be history soon..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,063
  • Jun 2, 2017 3:28am Jun 2, 2017 3:28am
Quoting bojack34
{quote} I did a lot of research on the SSBO thread. It's very interesting and the EA is pretty good but my only problem is figuring out the correct buffer zone and the appropriate TP tartget. It makes me see consolidation in a different way now.
Hi, regarding TP, nobody really knows, We have clues what to aim for such as daily pivot, 00, even support/resistance levels.
i look for 5 because you see 5 so many times. On my method my stats are based on 10 even 20 is good, But i will hammer it for 5.
As i think Fast Train said, it is called Frequency Distribution even though i use this i didnt know it had a name.
You can break it down into maths so my lady says, she is currently still my lady but i am seeing her later, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,064
  • Jun 2, 2017 3:36am Jun 2, 2017 3:36am
Quoting billytt
{quote} Hi, regarding TP, nobody really knows, We have clues what to aim for such as daily pivot, 00, even support/resistance levels. i look for 5 because you see 5 so many times. On my method my stats are based on 10 even 20 is good, But i will hammer it for 5. As i think Fast Train said, it is called Frequency Distribution even though i use this i didnt know it had a name. You can break it down into maths so my lady says, she is currently still my lady but i am seeing her later, lol
My plan is to learn all the breakout TIMES and strategies and POUND them for 5 and i'll take 10 or 20 if the market gives it to me...lol. The problem I'm running into it seems like is my MT4 is different and my H4 candles start/stop at different times. Although if I understand the premise behind the strategy .....it's to mark 2 lines...HH and LL just BEFORE the Open of a Market ..........once the market Opens...then the big boys come out to play and they make the market move which is what we want as breakout traders. We take our quick 5...then 10...then 20 and so forth.....and if for some reason our TP isn't hit then we can enter a "counter" trade at the SL of trade #1 and then double your Lot Size to make up for the bad trade #1............this is all i know so far....lol.

I have a feeling that it would be OK to use the H1 candle immediately proceeding the opening of the London Market and the NY Market......and then just use a H1 Candle instead of a H4 Candle.........just thinking of a way to get around not using the exact same H4 candle.
  • #18,065
  • Jun 2, 2017 3:44am Jun 2, 2017 3:44am
Quoting billytt
i told BA not to go cheap, not to out source {image}
That's what screwed them up. Cost cutting by outsourcing and sacking lots of UK employed IT people. Shareholders first and customers last - BA, the short termism fixated and bad face of Capitalism.
every Saint has a past. Every Sinner has a Future
  • #18,066
  • Jun 2, 2017 3:48am Jun 2, 2017 3:48am
Quoting turnip15
{quote} That's what screwed them up. Cost cutting by outsourcing and sacking lots of UK employed IT people. Shareholders first and customers last - BA, the short termism fixated and bad face of Capitalism.
harsh but true, BA = Bloody Awful
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,067
  • Jun 2, 2017 3:51am Jun 2, 2017 3:51am
Quoting bojack34
{quote} My plan is to learn all the breakout TIMES and strategies and POUND them for 5 and i'll take 10 or 20 if the market gives it to me...lol. The problem I'm running into it seems like is my MT4 is different and my H4 candles start/stop at different times. Although if I understand the premise behind the strategy .....it's to mark 2 lines...HH and LL just BEFORE the Open of a Market ..........once the market Opens...then the big boys come out to play and they make the market move which is what we want as breakout traders. We take our quick 5...then...
Hi, you will get the breakout push on UK open and US open, if you start then to use the hour candle, this is a different method with different stats.
i only counter so i dont give broker anything back...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,068
  • Jun 2, 2017 3:53am Jun 2, 2017 3:53am
Quoting bojack34
{quote} I did a lot of research on the SSBO thread. It's very interesting and the EA is pretty good but my only problem is figuring out the correct buffer zone and the appropriate TP tartget. It makes me see consolidation in a different way now.
No such thing as "correct" or "appropriate" in trading. We all guess at the future since the past is no certain indication of the future.. "Frequency and expectation," are complicated subjects but Billy nails it in his post above. Imagine -the likelihood of hitting 5 pips profit compared to aiming for some "level" or 20 pips or higher target - which target would get hit more often ?
Often, it is people using small stakes that "hope" to hit targets of 20 or more to justify any reward for using a small stake. These people often end up "gambling" in the true sense of the word -5 or 20 -which one happens most ?
Just a thought from a simple Turnip
every Saint has a past. Every Sinner has a Future
  • #18,069
  • Jun 2, 2017 3:53am Jun 2, 2017 3:53am
Quoting billytt
{quote} Hi, you will get the breakout push on UK open and US open, if you start then to use the hour candle, this is a different method with different stats. i only counter so i dont give broker anything back...
is it impossible for me to trade the exact strategies mention here because of my Candle times?
  • #18,070
  • Jun 2, 2017 3:58am Jun 2, 2017 3:58am
[quote=billytt;9935783]
Quoting slowbrain
{quote} i have an old body but a very young brain and i am fitter than a lot of youngsters lol and handsome lol AND my own teeth lol
Your own teeth !! Now I am jealous
every Saint has a past. Every Sinner has a Future
  • #18,071
  • Jun 2, 2017 3:59am Jun 2, 2017 3:59am
Cable Daily from 8th May, we had 1 loss and approx 20 wins of 10 or more, we also have inside bars.
I look at a chart then look for wicks as Frequency distribution. Yes one loss can upset the cart, that is why i counter then look for next trigger.
Even retrace and bigger lot or extra lot
Attached Image (click to enlarge)
Click to Enlarge Name: cable =C 2nd.PNG Size: 23 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,072
  • Jun 2, 2017 3:59am Jun 2, 2017 3:59am
[quote=turnip15;9936272]
Quoting billytt
{quote} Your own teeth !! Now I am jealous
well erm, tooth
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,073
  • Jun 2, 2017 4:00am Jun 2, 2017 4:00am
Quoting bojack34
{quote} is it impossible for me to trade the exact strategies mention here because of my Candle times?
If you weren't based in the land of the not-so-free-anymore, I would tell you to simply open a demo account with a UK broker like everyone else in the world is allowed to do...but hey, the Sec-Com know best.
  • #18,074
  • Jun 2, 2017 4:01am Jun 2, 2017 4:01am
Quoting turnip15
{quote} No such thing as "correct" or "appropriate" in trading. We all guess at the future since the past is no certain indication of the future.. "Frequency and expectation," are complicated subjects but Billy nails it in his post above. Imagine -the likelihood of hitting 5 pips profit compared to aiming for some "level" or 20 pips or higher target - which target would get hit more often ? Often, it is people using small stakes that "hope" to hit targets of 20 or more to justify any reward for using a small stake. These people often end up "gambling"...
correct, i wont even do the lottery as my odds are so much against me, give me a crazy dax trade any day
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,075
  • Jun 2, 2017 4:03am Jun 2, 2017 4:03am
Quoting bojack34
{quote} is it impossible for me to trade the exact strategies mention here because of my Candle times?
you will learn that we use a line to trade off. as in a break, you need to know when the 2 major markets open and these are crucial for the volatility.
Then hopefully you can make the method your own, i am sure you will see things even we dont
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,076
  • Jun 2, 2017 4:06am Jun 2, 2017 4:06am
Quoting billytt
{quote} Hi Mr T, hope all is well, i was going to ping you but something happened and i forgot lol. My Lady is giving me grief and she may be history soon..
No, no Billy -just spotted her popping around to see you
Attached Image
every Saint has a past. Every Sinner has a Future
  • #18,077
  • Jun 2, 2017 4:07am Jun 2, 2017 4:07am
Quoting billytt
{quote} you will learn that we use a line to trade off. as in a break, you need to know when the 2 major markets open and these are crucial for the volatility. Then hopefully you can make the method your own, i am sure you will see things even we dont
that is basically what i just described in my last post.....sounds like i'm on the right track! Thank you so much Billyt....btw....good luck with your LADY!!!!
  • #18,078
  • Jun 2, 2017 4:10am Jun 2, 2017 4:10am
i trained a Spaniard a few years ago, and he is crazy. I taught him frequency distribution using the take 5 ..
He said to me WHY NOT HIT IT FOR 1, OOOOOOOOOOOOOOOOOOOOOOO.
I later learned he after getting 5 and also compounding he did go for 1 point trade, sometimes getting more.
He has now put in an offer to buy Gibralter lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,079
  • Jun 2, 2017 4:12am Jun 2, 2017 4:12am
Quoting bojack34
{quote} that is basically what i just described in my last post.....sounds like i'm on the right track! Thank you so much Billyt....btw....good luck with your LADY!!!!
i think i will be ok with her and she has access to world wide connected computors, yaaaaaaay
was going to say she has nice assets, but you guys would think the wrong things lol, thanks anyway
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,080
  • Jun 2, 2017 4:14am Jun 2, 2017 4:14am
Quoting bojack34
{quote} Which Candle do I use for Frankenbreak? and is this candle H4 or D1?
Hahahahahahahahahahahaha - indicator time-differences are the bane of my life

TF is as marked - m15
This was printed at the open of the 12:00 Noon m15 candle.
Candles can be counted back to find the times of begin and end.
The range of the break zone is marked from yellow-to-yellow.

Attached Image (click to enlarge)
Click to Enlarge Name: InkedEURGBPM15asegforTF_LI.jpg Size: 672 KB


It is not the range deliberately before, during or after the Frankfurt Open. The range is purely sheer blind randomness. I was playing with this indicator back in the day and this is the time it set itself at on this broker - which is in itself time-shifted by two hours.

If I have to try and work this out again - this time for Denver's Mountain Time - then I think my head will explode.

The legwork is all yours. Have fun.
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