Billytt Die happy trading e/j daily breakout | Page 940 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #18,781
  • Jun 13, 2017 8:07pm Jun 13, 2017 8:07pm
one more coffee then i hit the sack
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,782
  • Jun 13, 2017 8:08pm Jun 13, 2017 8:08pm
Quoting billytt
one more coffee then i hit the sack
Please make a LARGE coffee....i'm learning so much tonight!
  • #18,783
  • Jun 13, 2017 8:09pm Jun 13, 2017 8:09pm
Quoting bojack34
{quote} That is what I thought. I am in love with this strategy!! Everyday I cant wait for 1am to get here so I can trade the Billy Bar!! Thanks for everything Billy, you are a very generous man for taking your time to provide us with this invaluable education that will no doubt help improve all of our financial lives..... and you ask nothing in return!!
dont say that bud, i like to help. and what goes around comes around as they say...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,784
  • Jun 13, 2017 8:44pm Jun 13, 2017 8:44pm
Quoting billytt
{quote} dont say that bud, i like to help. and what goes around comes around as they say...
Hi billytt

Tuesday , Daily EJ was a clean fail , Monday inside bar ... lets see today ...
trying to make everyday the best risk/reward decisions possible
  • #18,785
  • Jun 13, 2017 9:51pm Jun 13, 2017 9:51pm
OMG! Prayers go out to those involved in that massive high rise fire in London. So sad!!
  • #18,786
  • Jun 13, 2017 10:03pm Jun 13, 2017 10:03pm
Quoting billytt
{quote} No, we have 3 trades which may be spread over several days. Trade No1 win, trade No2 lose but we carry on as if it had won and then trade No3 , Trade 1 double, trade 2 double and trade 3 double, the counter will hold the losing trade.

I'm trying really hard to picture this.
So you go into trade 1 it retraces before hitting target midpoint you counter same lot size once reaches other side of range you double the lot size?
  • #18,787
  • Jun 13, 2017 10:25pm Jun 13, 2017 10:25pm
Quoting faatkumo
{quote} I'm trying really hard to picture this. So you go into trade 1 it retraces before hitting target midpoint you counter same lot size once reaches other side of range you double the lot size?
There are more than one way to Counter your bad trade. Countering at the Mid Point is just one of the ways. (Lem's way) If you have a Range of 20 and you Counter your bad trade at the Mid Point which would be 10.....now when your bad trade has reversed 100% of the range and reaches your opposite side trigger.....you would have lost -10 pips on your original trade and made +10 pips on your second trade. This puts you at EVEN. There is NO NEED to double your lot size at this point. As Billy has stated before and has a lot of stats to support his claim....we have a GOOD chance that price will go 20+ pips out the opposite side trigger.

What Billy is suggesting is that once you have a successful trade, then on the next trade you double your lot size. In his example his lot size was 20 to begin with. After he had a successful trade #1 he then doubled his lot size to 40 for trade #2. After he has a successful (OR unsuccessful) trade #2, he then doubles his lot size to 80 for trade #3. After he has a successful trade #3, he then doubles his lot size ONE MORE TIME (max 3 times) to 160 for trade #4. This equals ONE ORIGINAL trade.....and the 3 trades he speaks of in the post you quoted.

I hope this is correct. I don't want to give any wrong advice. Please make sure this is correct with one of the veterans on this thread, but this is my interpretation of this.
  • #18,788
  • Jun 13, 2017 10:48pm Jun 13, 2017 10:48pm
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting lemercenaire
{quote} A little bit of Alien Tech going on there, Hpt Me likee, lol. I noticed very early on, that the mid-line was an area where price twirled and wound around, before either continuing on or turning. This makes it equally great for adding into positions as it does for entering counters. On the upper time-frames it is an under-used (by most) component.
from level to level - you need mental strength to reach the summit
  • #18,789
  • Jun 14, 2017 12:26am Jun 14, 2017 12:26am
Quoting soccerfan
{quote} .....if only this was true...
please elaborate so that I too can know the correct way. Thanks SF
  • #18,790
  • Jun 14, 2017 12:27am Jun 14, 2017 12:27am
This mornings EJ Tokyo break ( WH ) was a fail,
I am out and aboyt in Brisbane at the moment and it is pissing down, i have to look at UK weather to get some dry stuff. Take care. :-)
Onwards and upwards...
  • #18,791
  • Jun 14, 2017 1:01am Jun 14, 2017 1:01am
Quoting bojack34
{quote} There are more than one way to Counter your bad trade. Countering at the Mid Point is just one of the ways. (Lem's way) If you have a Range of 20 and you Counter your bad trade at the Mid Point which would be 10.....now when your bad trade has reversed 100% of the range and reaches your opposite side trigger.....you would have lost -10 pips on your original trade and made +10 pips on your second trade. This puts you at EVEN. There is NO NEED to double your lot size at this point. As Billy has stated before and has a lot of stats to...
Correct me I'm wrong. ... but you -20 and +10 pips when reaches the opposite trigger ?
trying to make everyday the best risk/reward decisions possible
  • #18,792
  • Jun 14, 2017 1:08am Jun 14, 2017 1:08am
[quote=bojack34;9975220]{quote} There are more than one way to Counter your bad trade. Countering at the Mid Point is just one of the ways. (Lem's way) If you have a Range of 20 and you Counter your bad trade at the Mid Point which would be 10.....now when your bad trade has reversed 100% of the range and reaches your opposite side trigger.....you would have lost -10 pips on your original trade and made +10 pips on your second trade. This puts you at EVEN. There is NO NEED to double your lot size at this point. As Billy has stated before and has a lot of stats to support his claim....we have a GOOD cha

that is a very good explanation.
With 04-00 bar i counter at the fail (opposite end)
With daily i counter at -30 ,slightly different rules
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,793
  • Jun 14, 2017 1:08am Jun 14, 2017 1:08am
Quoting slowbrain
{quote} Correct me I'm wrong. ... but you -20 and +10 pips when reaches the opposite trigger ?
  • #18,794
  • Jun 14, 2017 1:11am Jun 14, 2017 1:11am
Quoting bojack34
{quote}
sorry for the spelling mistakes ... correct me IF I'm wrong ...but you ARE -20 ....
trying to make everyday the best risk/reward decisions possible
  • #18,795
  • Jun 14, 2017 1:21am Jun 14, 2017 1:21am
got battered on the frankenbreak today lool. dno what to do with this bastard.

wasnt even able to get ahead on account much looooool the joys

even though doubling the lot size on the counter would have had me in good shape that ways just too dangerous.
  • #18,796
  • Jun 14, 2017 1:29am Jun 14, 2017 1:29am
Quoting Piphunter00
got battered on the frankenbreak today lool. dno what to do with this bastard. wasnt even able to get ahead on account much looooool the joys
Hmm... How did you manage your trade? My FB was fine today. I couldn't wake up for the WH though (I'm in Asia at the moment).

Today's trading results:

  1. EURGBP FB +9.3 pips
    I was late. I saw price broke FB high, but it didn't reach +5. I entered a buy at a slightly lower price. Price went down. In 8-9 pip ranges, I'm usually hesitant of whether I should counter at FB mid or the opposite side. Today, I just countered at FB mid. Price went down. Closed buy and opened one more sell at FB low. Aimed for 5 pips below FB low. Price shot down.

EURGBP M5

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  • #18,797
  • Jun 14, 2017 1:29am Jun 14, 2017 1:29am
Quoting faatkumo
{quote} I'm trying really hard to picture this. So you go into trade 1 it retraces before hitting target midpoint you counter same lot size once reaches other side of range you double the lot size?
Compounding example AND i will use a stop for this explanation.

Trade No1, with a £20 take profit and 20 stop £1 per pip trade.

So £1 x 20(stop) =£20 lot..
Hopefully we make 20 pips...
So £20 (lot) + £20 (take profit) = £40.....

NOW COMPOUND THE £40.

Trade No2..
£40 divided by stop (20) = £2..
... £2 per pip with 20 stop and £40 take profit.
So £40 lot + £40 take profit = £80 ..

Trade No3
£80 divide by 20 (stop) = £4.
£4 per pip with 20 stop and 20 take profit = £80.
So £80 lot +£80 take profit =£160
3 compound trades and we make +£140.
If we had made 3 separate trades we would of made £60..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,798
  • Jun 14, 2017 1:31am Jun 14, 2017 1:31am
Quoting StudyFX
{quote} Hmm... How did you manage your trade? My FB was fine today. I couldn't wake up for the WH though (I'm in Asia at the moment). Today's trading results: EURGBP FB +9.3 pips I was late. I saw price broke FB high but didn't reach +5. I entered a buy at a slightly lower price. Price went down. In 8-9 pip ranges, i'm usually hesitant of whether I should counter at FB mid or the opposite side. Today, I just countered at FB mid. Price went down. Closed buy and opened one more sell at FB low. Aimed for 5 pips below FB low. Price shot down. EURGBP...
you done cowboy stuff SF lol. while i admire it its too dangerous, maybe not with the fact you countered at the mid, but like you i was hesitant but actually didnt counter the mid.

ah well.
  • #18,799
  • Jun 14, 2017 1:36am Jun 14, 2017 1:36am
Quoting Piphunter00
{quote} you done cowboy stuff SF lol. while i admire it its too dangerous, maybe not with the fact you countered at the mid, but like you i was hesitant but actually didnt counter the mid. ah well.
You can always keep the trade in limbo and wait for the next trigger.
  • #18,800
  • Jun 14, 2017 1:37am Jun 14, 2017 1:37am
Quoting StudyFX
{quote} You can always keep the trade in limbo and wait for the next trigger.
i plan on doing that just so i can see how much swap devours my account before i can get it back to flat
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