Billytt Die happy trading e/j daily breakout | Page 921 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #18,401
  • Jun 8, 2017 4:22am Jun 8, 2017 4:22am
[quote=bojack34;9956084]{quote} again something that is going to cause me to take a hammer to my head. I was under the impression that with the 04-00 bar, we use the "other side" of the Bar or Box as our "SL" or "Other Trigger" or "Counter Trade Trigger"...........but in this example when price goes
high break and left it
yesterday i had doubt, when in doubt stay out.
i put in a counter at the high and left it, i could of entered a trade and it would of been good, at least 20 and the daily range high but i chose not to.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,402
  • Jun 8, 2017 4:24am Jun 8, 2017 4:24am
Quoting slowbrain
{quote} The 2 long positions closed at loss and now I have a short position open with SL 38 and TP 20 let see if I can recoup part of the loss
I took a loss also on the short ... gloups ....
it will take several trades to take it back ...
I'm now in front of a white page on my desk , scratching my head ... playing like this or just counter and wait for next day signal ... and increase lot size next day

today = -38 X1 -28 X1 -38 X2= -142 pips......
trying to make everyday the best risk/reward decisions possible
  • #18,403
  • Jun 8, 2017 4:28am Jun 8, 2017 4:28am
Quoting slowbrain
{quote} I took a loss also on the short ... gloups .... it will take several trades to take it back ... I'm now in front of a white page on my desk , scratching my head ... playing like this or just counter and wait for next day signal ... and increase lot size next day today = -38 X1 -28 X1 -38 X2= -142 pips......
that's an interesting thought. Instead of Counter Trading and Doubling your lot size, you can wait for the next day and enter on trigger and Double your lot size on this trade.
  • #18,404
  • Jun 8, 2017 4:38am Jun 8, 2017 4:38am
Quoting bojack34
{quote} that's an interesting thought. Instead of Counter Trading and Doubling your lot size, you can wait for the next day and enter on trigger and Double your lot size on this trade.
I close the platform ... and will go out for a walk tonight and will think about it when far from the charts .... need to use simple common sense ...
trying to make everyday the best risk/reward decisions possible
  • #18,405
  • Edited 5:05am Jun 8, 2017 4:38am | Edited 5:05am
t 10-37 cable 04-00 high break failed, so we can now chase the Daily Range Low.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,406
  • Jun 8, 2017 4:59am Jun 8, 2017 4:59am
while reading thru the thread tying to catch up i read something about "compounding" a trade by adding to a winning trade. I'm assuming this means to ENTER another trade in the same direction as the OG (original) trade and use the same SL as the OG trade.....so you have double the lot size now BUT using the same SL.

If this is correct.........lets say our TP target is our normal +5 and our TP target #2 is +10 pips......at what point do you decide to ENTER trade #2 (compounding trade)???
  • #18,407
  • Jun 8, 2017 5:13am Jun 8, 2017 5:13am
Quoting bojack34
while reading thru the thread tying to catch up i read something about "compounding" a trade by adding to a winning trade. I'm assuming this means to ENTER another trade in the same direction as the OG (original) trade and use the same SL as the OG trade.....so you have double the lot size now BUT using the same SL. If this is correct.........lets say our TP target is our normal +5 and our TP target #2 is +10 pips......at what point do you decide to ENTER trade #2 (compounding trade)???

Before they adjusted margin it was easy to compound,
example,, 1 per point with a stop loss of 20 and a take profit of 20.
So you trade 20 looking for 20 profit. IT GOES IN so your next trade you double bet, 2 per point or 40 looking for 20 points = 40 profit.then 4 etc.
or your first bet can be 1 then after a win next bet is 1-20 thyen 1-40 etc or $1 then $1-20 or $1 then $1-50 it is up to you.
you then make small gain.
It is harder for the little guy now due to extra margin but with bank roll you can work around it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,408
  • Jun 8, 2017 5:14am Jun 8, 2017 5:14am
Quoting bojack34
while reading thru the thread tying to catch up i read something about "compounding" a trade by adding to a winning trade. I'm assuming this means to ENTER another trade in the same direction as the OG (original) trade and use the same SL as the OG trade.....so you have double the lot size now BUT using the same SL. If this is correct.........lets say our TP target is our normal +5 and our TP target #2 is +10 pips......at what point do you decide to ENTER trade #2 (compounding trade)???
once you start to compound with right method this is where you can make it big time
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,409
  • Jun 8, 2017 5:29am Jun 8, 2017 5:29am
Quoting billytt
{quote} once you start to compound with right method this is where you can make it big time
is this something that a $200 starter account can do? How about a $2k account? At what point should I start to really try to "compound" my winning trades? Eventually I want to be able to and utilize BOTH "compounding" Winning Trades.....and....."counter" Losing Trades...........but I won't have 10k or 50k in my account anytime soon....but 2k is a possibility..........$200 enough?.....is $2k enough?
  • #18,410
  • Edited 6:07am Jun 8, 2017 5:42am | Edited 6:07am
Quoting bojack34
{quote} is this something that a $200 starter account can do? How about a $2k account? At what point should I start to really try to "compound" my winning trades? Eventually I want to be able to and utilize BOTH "compounding" Winning Trades.....and....."counter" Losing Trades...........but I won't have 10k or 50k in my account anytime soon....but 2k is a possibility..........$200 enough?.....is $2k enough?
Everything's relative to how you size your trades. Compounding can be done in a few ways, either taking initial profit and then doubling the size or like Bill said a few days ago increase lot size after every winning trade in small increments. Countering is fine if your sized appropriately too. The 1% a pip is not for the beginners. At most 0.5%.

Collect stats my friend. Stats stats and more stats. It's a deep rabbit hole that will lead you to many discoveries and give u many options and ideas on how you can manage your affairs

I'm running a 100 test account. Currently down -1.3%, from being 2.5% up on tuesday, not trading till the election blows over so i didnt counter the trade I just took the blow on my last trade. I will be posting my progress every day I trade from the start of next week so everyone will get to see if I get ripped to pieces or not
  • #18,411
  • Jun 8, 2017 5:42am Jun 8, 2017 5:42am
Quoting bojack34
{quote} is this something that a $200 starter account can do? How about a $2k account? At what point should I start to really try to "compound" my winning trades? Eventually I want to be able to and utilize BOTH "compounding" Winning Trades.....and....."counter" Losing Trades...........but I won't have 10k or 50k in my account anytime soon....but 2k is a possibility..........$200 enough?.....is $2k enough?
erm start with $200 and your lot size has to be very very small because we will have losses.
Let the small gains grow.
Get good method, one idea is for instance if the 04-00 fails the opposite end normally gets 20 (NOT ALWAYS) you can compound this . But look for say 10
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,412
  • Jun 8, 2017 5:46am Jun 8, 2017 5:46am
a 200 bank can make you a fortune but the odds are stacked against you especially if you want it asap.
Look at the idiots who have threads such as turn 200 into a million blah blah.
These people give us a laugh, actually that is why i came back to FF.

Like pip just said stats and stats, look at your odds/chances of growth are
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,413
  • Jun 8, 2017 5:48am Jun 8, 2017 5:48am
starting small helps you understand money when it grows, try losing 30K on a trade and you will understand pressure lol. i did that 3 times
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,414
  • Jun 8, 2017 5:48am Jun 8, 2017 5:48am
Quoting Piphunter00
{quote} Everything's relative to how you size your trades. Compounding can be done in a few ways, either taking initial profit and then doubling the size or like Bill said a few days ago increase lot size after every winning trade in small increments. Countering is fine if your sized appropriately too. The 1% a pip is not for the beginners. At most 0.5%. Collect stats my friend. Stats stats and more stats. It's a deep rabbit hole that will lead you to many discoveries and give u many options and ideas on how you can manage your affairs I'm running...
that is a good post Pip,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,415
  • Jun 8, 2017 5:53am Jun 8, 2017 5:53am
Cable four hour -got into a long and failed. Eventually price retraced the long wick (North) and entered the body of the red candle and broke out short for a few pips.
( I use Lems "wick Zone now but price still broke south of lower wick of red candle)
Apologies for late posting -Having a Senior moment or three.
Attached Image (click to enlarge)
Click to Enlarge Name: Cable4H1151.jpg Size: 506 KB
every Saint has a past. Every Sinner has a Future
  • #18,416
  • Jun 8, 2017 6:01am Jun 8, 2017 6:01am
Quoting turnip15
Cable four hour -got into a long and failed. Eventually price retraced the long wick (North) and entered the body of the red candle and broke out short for a few pips. ( I use Lems "wick Zone now but price still broke south of lower wick of red candle) Apologies for late posting -Having a Senior moment or three. {image}
hi Mr T, i trade lines but not every lines, Cable 04-00 break high gave me the shivers, dont ask why but i kept off it.
Like i said retrace trades would of been ok except for last one.
But the low break was the cookie, lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,417
  • Jun 8, 2017 6:03am Jun 8, 2017 6:03am
Quoting billytt
{quote} that is a good post Pip,
Thanks bill, thats an honour coming from you.
  • #18,418
  • Jun 8, 2017 6:03am Jun 8, 2017 6:03am
i am away, off to guess where?????
my A/U trade is now on a counter lol at -4 yaaaaaaay, give the brokers nothing, nada
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,419
  • Jun 8, 2017 6:05am Jun 8, 2017 6:05am
Quoting Piphunter00
{quote} Thanks bill, thats an honour coming from you.
thanks bud, it shows the brain is working and looking outside of the box, or as the youngsters say , tink ow ta da box blud,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,420
  • Jun 8, 2017 6:05am Jun 8, 2017 6:05am
Quoting billytt
starting small helps you understand money when it grows, try losing 30K on a trade and you will understand pressure lol. i did that 3 times
This is exactly why I took a small 100 out of my account. If I can grow that i grow anything. As long as i firmly stick to the same principles and don't let the increased capital change my decision making process.
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