Billytt Die happy trading e/j daily breakout | Page 915 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #18,281
  • Jun 6, 2017 4:38pm Jun 6, 2017 4:38pm
What should out TP target be for the 04-00 Break? I know that we should look at counter trading at the -28 pip mark.
  • #18,282
  • Jun 6, 2017 4:47pm Jun 6, 2017 4:47pm
Quoting bojack34
What should out TP target be for the 04-00 Break? I know that we should look at counter trading at the -28 pip mark.
Just break it even and then trail your stop to secure the profitsssss
  • #18,283
  • Jun 6, 2017 4:52pm Jun 6, 2017 4:52pm
Had me a good day on dax +170 ticks. only got 25 ticks cl. This trade ended in 6 seconds entry 76 to exit at 53. nice little 40+ ticks lem - signal 007alpha no longer in testing phase.
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  • #18,284
  • Jun 6, 2017 5:04pm Jun 6, 2017 5:04pm
Quoting wannalearn12
{quote} Just break it even and then trail your stop to secure the profitsssss
BE+1 at 5? or 10?.........trailing stop 10 enough? 15? I know it's a matter of preference but i'm still new enough trading that i'm not sure what is more appropriate. Thanks wannalearn!
  • #18,285
  • Jun 6, 2017 5:19pm Jun 6, 2017 5:19pm
Quoting bojack34
{quote} BE+1 at 5? or 10?.........trailing stop 10 enough? 15? I know it's a matter of preference but i'm still new enough trading that i'm not sure what is more appropriate. Thanks wannalearn!
The notes that I have so far on the 04-00 Break for TP and SL are.........TP 20 SL 20...and another note that says, "depending on the Range of the 04-00 bar, ideally you should consider your counter trade at 28 pips". I'm not sure which one to go with.
  • #18,286
  • Jun 6, 2017 5:33pm Jun 6, 2017 5:33pm
Quoting wannalearn12
Had me a good day on dax +170 ticks. only got 25 ticks cl. This trade ended in 6 seconds entry 76 to exit at 53. nice little 40+ ticks lem - signal 007alpha no longer in testing phase. {image}
Love it. Once I have my (re)wiring completed - tomorrow, please, for the love of god! - I will allocate more time to it.
  • #18,287
  • Edited Jun 7, 2017 2:55am Jun 6, 2017 6:04pm | Edited Jun 7, 2017 2:55am
Quoting bojack34
{quote} The notes that I have so far on the 04-00 Break for TP and SL are.........TP 20 SL 20...and another note that says, "depending on the Range of the 04-00 bar, ideally you should consider your counter trade at 28 pips". I'm not sure which one to go with.
04:00 Break tp is +5 (+10 for stats). EJ Daily break has the larger tp and counter entry (and those figures you quote are from SlowBrain's own running of it I think).

This is my understanding of it all but Billy will sort this if I am wrong (entirely possible - it's late here, lol).

Catch y'all tomorrow.
  • #18,288
  • Jun 6, 2017 6:12pm Jun 6, 2017 6:12pm
Quoting lemercenaire
{quote} You are right. The clue is in soccerfan's answer ''I can tell u that the witching hour refers to the quiet period after NY closes and Tokyo opens....the exact time in Oz is 7am to 9 am'', as unless my math's has really deteriorated, that would make it The Witching TWO Hour, lol Soccerfan has extended that time to include both the variants I ran/run, including the original hour. Wannalearn also did this to great effect, though he treated each hour as separate entities, not as one block. Doing it that way means...
I think i should stick with the actual Tokyo open as the spread on the earlier bar is too big...
Onwards and upwards...
  • #18,289
  • Jun 6, 2017 6:18pm Jun 6, 2017 6:18pm
Quoting soccerfan
{quote} I think i should stick with the actual Tokyo open as the spread on the earlier bar is too big...
I understand. It's unfortunate but not unusual. There IS a variant Wanna and I came up with that plays over the actual open if you find the set up candle is now too big. Alternatively look to do what I prefer doing and trade moves back inside over any breakouts.
  • #18,290
  • Jun 6, 2017 6:23pm Jun 6, 2017 6:23pm
@sb - this week on ea. That's on demo.
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  • #18,291
  • Jun 6, 2017 6:25pm Jun 6, 2017 6:25pm
Quoting claudia1
@sb - this week on ea. That's on demo. {image}
I love me some CCFp Weekly Basket!!!!
  • #18,292
  • Jun 6, 2017 6:34pm Jun 6, 2017 6:34pm
Quoting turnip15
{quote} When teaching, just prior to retirement, I had a student who was always falling asleep in class. Transpired he played on his Playstation most nights. His dad cured his son's lack of sleep by taking a hammer to the Playstation. The son was always awake and participative in class after that.
yes indeed Mr T, a hammer is a very handy tool. They can also be used to knock in nails. Hope you are ok
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,293
  • Jun 6, 2017 6:39pm Jun 6, 2017 6:39pm
Quoting bojack34
What should out TP target be for the 04-00 Break? I know that we should look at counter trading at the -28 pip mark.
This is something you learn yourself, and then money management kicks in with risk/reward which i dont do.lol
Give me 5 pips with £100 per pip any day better than getting 100 pips with jack lot.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,294
  • Jun 6, 2017 6:43pm Jun 6, 2017 6:43pm
Quoting billytt
{quote} This is something you learn yourself, and then money management kicks in with risk/reward which i dont do.lol Give me 5 pips with 100 per pip any day better than getting 100 pips with jack lot.
I agree with you and I would love to shoot for 1% per Pip. Can you tell me what an appropriate Account size would be to achieve 1% per pip? Does it really matter?
  • #18,295
  • Jun 6, 2017 6:46pm Jun 6, 2017 6:46pm
Quoting billytt
{quote} This is something you learn yourself, and then money management kicks in with risk/reward which i dont do.lol Give me 5 pips with 100 per pip any day better than getting 100 pips with jack lot.
Currently the way i have it set up in my notes is.....BE+1 @ 5 pips......BE+5 @ 10 pips.......BE+10 @ 15 pips........then switch to a trailing stop of 15 pips at +30 pips. I'm hoping the i'm leaving enough room for my trade to breathe at those small ranges.. I'm still not sure because i'm still a novice trader. Thanks Billy!
  • #18,296
  • Jun 6, 2017 7:00pm Jun 6, 2017 7:00pm
Quoting bojack34
What should out TP target be for the 04-00 Break? I know that we should look at counter trading at the -28 pip mark.
Hi, with the 04-00 break, i am happy with 5,if that fails or reverses and the other end triggers, you can normally get 20 or go for the daily range. You are then trading it like the daily Break. sometimes you may not get 20 but the DR is still made.
also take profits,, you can look for clues like 00, daily pivot, pivots etc. But this is taking the simple away.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,297
  • Jun 6, 2017 7:03pm Jun 6, 2017 7:03pm
Quoting bojack34
{quote} I agree with you and I would love to shoot for 1% per Pip. Can you tell me what an appropriate Account size would be to achieve 1% per pip? Does it really matter?
My play money in here is 1k but i have an almost limitless 2nd bank,
you need the bank to cover any loss and mistakes, and when you are trading and looking for 5% (in my case) sometimes we make more to cover loss.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,298
  • Jun 6, 2017 7:04pm Jun 6, 2017 7:04pm
Quoting lemercenaire
{quote} 04:00 Break tp is +5 (+10 for stats). EJ Daily break has the larger tp and counter entry (and those figures you quite are from SlowBrain's own running of it I think). This is my understanding of it all but Billy will sort this if I am wrong (entirely possible - it's late here, lol). Catch y'all tomorrow.
that is correct, Lem
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,299
  • Jun 6, 2017 7:22pm Jun 6, 2017 7:22pm
Quoting billytt
{quote} Hi, with the 04-00 break, i am happy with 5,if that fails or reverses and the other end triggers, you can normally get 20 or go for the daily range. You are then trading it like the daily Break. sometimes you may not get 20 but the DR is still made. also take profits,, you can look for clues like 00, daily pivot, pivots etc. But this is taking the simple away.
When you say the "other end is triggered" i'm not sure what you mean. Lets say for example our 04-00 bar was broke going LONG but it failed to reach the +5 pip mark, then it reversed........do you enter your counter trade at the SAME TRIGGER USED for our LONG trade........OR........do we let it go ALL THE WAY to the BOTTOM of the 04-00 bar and wait for it to trigger the BOTTOM of the range before we enter our counter trade....and then look for ADR???
  • #18,300
  • Jun 6, 2017 7:42pm Jun 6, 2017 7:42pm
Quoting bojack34
{quote} When you say the "other end is triggered" i'm not sure what you mean. Lets say for example our 04-00 bar was broke going LONG but it failed to reach the +5 pip mark, then it reversed........do you enter your counter trade at the SAME TRIGGER USED for our LONG trade........OR........do we let it go ALL THE WAY to the BOTTOM of the 04-00 bar and wait for it to trigger the BOTTOM of the range before we enter our counter trade....and then look for ADR???

yes, we counter at the opposite end, in this cast the low..then look for 20 or daily range.
The 20 and daily range all depend on how many points have already been made.
We dont have to counter, but once a trade is closed we have lost that money.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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