Disliked{quote} depending on the range of 04-00 bar, ideally it is approx 28 for me. i will counter on the fail, i suppose you could counter at 20 or 25 but i dont/didnt.Ignored
THANKS BILLY!
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
Disliked{quote} depending on the range of 04-00 bar, ideally it is approx 28 for me. i will counter on the fail, i suppose you could counter at 20 or 25 but i dont/didnt.Ignored
Disliked{quote} so just so i understand fully.....if Trade #1 goes BAD an reverses......at the -28 pip mark you will ENTER COUNTER TRADE #1 ??? and this Counter Trade #1 will have 2x lot size as original trade?? I'm also assuming your using this -28 pip mark because if you DOUBLE your lot size of your initial trade and you get the 20 pips you speak of out the other side........this wa you make up for you losing trade and still make +pips? THANKS BILLY!Ignored
Disliked{quote} that is a good reply, (sometimes) i double my lot size or just add on. Sometimes use smaller lot size but have 2 trades running, one for a fixed return and the other to let run.Ignored
Disliked04-00 candle break, even though we have excellent odds it can be difficult for some people with small bank roll. Let us do this..... We let the 04-00 bar trigger (but do not enter a trade) hopefully let it retrace then we enter, This way we save on the loss IF it happens and actually can gain a lot more. i will show examples, later. OR and this i do like especially if you miss the original trade... IF the first trade fails (and is not traded) you then trade the break of the opposite end, so you will probably gain the 20 if not more with Daily Range....Ignored
DislikedMy Lady and i are ok and still an item lol, She spoke to me and i nodded at the appropriate times to her satisfaction lol. Nice day here and i may stroll along coastIgnored
Disliked{quote} It sounds like I should just DITCH the whole Counter Trade idea for now since I am a novcie trader with a very small micro account for starters.....but it is NICE to at least know how to do it incase I see a very strong counter move going against my OG trade. With that being said......is it ok with a system like this to have a SL less than 2:1? Lets say I was going to try and get only 5 pips at 1% per pip. Would it be ok to have a SL of 10 pips? What would be an appropriate SL for a small account while using a breakout system? THANKS BILLY!!...Ignored
Disliked{quote} Wise words young lads pay attention. Good to hear bill, weather's ripe for it!Ignored
Disliked{quote} stop loss kills a trade, you need to master the method, Dont forget anything can happen with trading, only the big game players know what will happen excluding natural disastersIgnored
Disliked{quote} It sounds like I should just DITCH the whole Counter Trade idea for now since I am a novcie trader with a very small micro account for starters.....but it is NICE to at least know how to do it incase I see a very strong counter move going against my OG trade. With that being said......is it ok with a system like this to have a SL less than 2:1? Lets say I was going to try and get only 5 pips at 1% per pip. Would it be ok to have a SL of 10 pips? What would be an appropriate SL for a small account while using a breakout system? THANKS BILLY!!...Ignored
Disliked{quote} Alot of what billy has layed out for us here completely flies in the face of conventional wisdom and what as novices we are taught, so I share most of these concerns. The only way to know what will work for your needs is to crank out the pen and pad and do a minimum 50 trade manual backtest and collate the stats. Be very clear and concise with your rules for this test and be brutally honest with yourself when recording the results. Then you can see what kind of return you would have had. I still don't know how the whole 1% a pip works so...Ignored
Disliked2nd June ,yesterdays 04-00 break Cable {image} High 12881,,,Low 12859,,, so range of 22. The Low broke (we did not trade) it retraced up. We have no idea how far up it will go BUT the Higher it moves up the less we lose IF it fails. We enter a short, we had many times were we could of made at least 5% edit, it can be traded on way down too ,Ignored
Disliked{quote} Another good way to do it! Those for concerns on risk reward and other stuff etc etc this is probably the avenue for you. Though be prepared to trade alot less and watch many a break happen and give up the 5 without you on board lol. I think the number one thing I've drawn from Billys teachings is STATS STATS STATS! Test theories and know your edgeIgnored
DislikedCable 1st June 04-00 break, i actually told you i didnt trade the long.. {image} This was a fail whichever way you look at it. High broke and retraced down, we could of entered anywhere on line (obviously not knowing where it would go) BUT it FAILED, so it had range of 39, we would not of lost 39 but less. Dont forget i said i like to trade a range of approx 28. The low broke and made 10, ok it wasnt 20 but it did make Daily Range Low. that day DR was 85Ignored
DislikedCable 1st June 04-00 break, i actually told you i didnt trade the long.. {image} This was a fail whichever way you look at it. High broke and retraced down, we could of entered anywhere on line (obviously not knowing where it would go) BUT it FAILED, so it had range of 39, we would not of lost 39 but less. Dont forget i said i like to trade a range of approx 28. The low broke and made 10, ok it wasnt 20 but it did make Daily Range Low. that day DR was 85Ignored
Disliked{quote} Small question on ur use of the DR bill, Do you use the 'average' or the most frequent daily range?Ignored