Billytt Die happy trading e/j daily breakout | Page 950 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #18,981
  • Jun 19, 2017 4:17am Jun 19, 2017 4:17am
Quoting billytt
Cable , copy at 08-15. {image} H =high... L = Low, high broke then retraced, we can still long the retrace, no idea how far down it will go, it might keep going south.
Ah - Billy posted the Cable four hour chart. So let's see what Dead Zone brings.
every Saint has a past. Every Sinner has a Future
  • #18,982
  • Jun 19, 2017 5:50am Jun 19, 2017 5:50am
As Lem said, A/U (in my case) broke 04-00 low and kept going. I did not trade it.
Some asked, why did i long Cable when i make it known i dont really like doing this???
BECAUSE WE HAD A FAIL ON FRIDAY....
i was also looking for 1 point lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,983
  • Jun 19, 2017 5:52am Jun 19, 2017 5:52am
Quoting billytt
Quoting bojack34
Ok maybe I'm just over thinking this but this part of the Counter Trade is confusing me some.......Price goes UP and we LONG, price reverses and goes all the way down and crosses our lower trigger. At this point we enter 2 SHORT trades. The first trade our TP target is 5 pips ( double original lot size is optional) and the second trade our TP target would be +20 and/or Daily Range. I understand we long and it fails,,, we counter on the Low trigger.... we can either then look for +5 to +20 or daily range low? we then have
...
I thought that we closed our original trade at the opposite counter. That was throwing me off. Thank you very much for this reply. It really cleared up a lot!
  • #18,984
  • Jun 19, 2017 6:01am Jun 19, 2017 6:01am
[quote=billytt;9992193]
Quoting bojack34
Ok maybe I'm just over thinking this but this part of the Counter Trade is confusing me some.......Price goes UP and we LONG, price reverses and goes all the way down and crosses our lower trigger. At this point we enter 2 SHORT trades. The fi look at one trade at a time,, If trade A fails we counter, it is now held in limbo. Now it is trade B. dont forget we may of had a retrace or two trades go in to off set the loss.
I really need to learn how to trade the retraces! My Billytt notebook is filling up fast! Time to make room for "retrace trading". Thanks again Bill!
  • #18,985
  • Jun 19, 2017 6:02am Jun 19, 2017 6:02am
Quoting billytt
As Lem said, A/U (in my case) broke 04-00 low and kept going. I did not trade it. Some asked, why did i long Cable when i make it known i dont really like doing this??? BECAUSE WE HAD A FAIL ON FRIDAY.... i was also looking for 1 point lol
Looking for only 1 point on GU, I like it!
  • #18,986
  • Jun 19, 2017 6:07am Jun 19, 2017 6:07am
Quoting bojack34
{quote} Looking for only 1 point on GU, I like it!
shhhhhhhhhhhhh lol,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,987
  • Jun 19, 2017 6:30am Jun 19, 2017 6:30am
[quote=bojack34;9993028]
Quoting billytt
{quote} I really need to learn how to trade the retraces! My Billytt notebook is filling up fast! Time to make room for "retrace trading". Thanks again Bill!
dont forget, as long as the +10 is not made after trigger on 04-00 bar, You can trade retrace as often as it moves up/down or down/up until it either fails or you get some %%%%.
The actual original trade can fail if you trade it yet you still make %%%. SO you are either A in pocket or B you don't lose as much.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,988
  • Jun 19, 2017 7:32am Jun 19, 2017 7:32am
CAD "DeadZone" so far :-)
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #18,989
  • Jun 19, 2017 7:37am Jun 19, 2017 7:37am
Hi Mr T, hope all is well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,990
  • Jun 19, 2017 8:33am Jun 19, 2017 8:33am
I pretty much reached my weekly target with this one trade... LOL. BUT, it was a stressful trade.

  1. CADJPY WH Surfing +76.7 pips (-13.5-11.4-5.2-12.1*4-12.0*8+15.7*16)
    I saw price around WH high. I bought and aimed for 5 pips above WH high. Countered at WH mid. Closed the buy and added a sell at WH low. I could've gotten out with some profit if I aimed for 5 pips below WH low, but I was greedy. Price reversed. Closed all sell positions at WH high and entered 4 buys. Price reversed. Closed all buys and added 8 sells at WH low. I aimed for 200 fib, which again was a greedy target. Price shot up. Closed all sells and added 16 buys. Aimed for -127.2 fib (considering the higher timeframe and S+D). Target was hit.

    I'm not proud of keep adding positions when countering, but just a reminder that I am trading very very small % per pip. Even when I keep doubling lot sizes, the drawdown doesn't make me panic or go crazy. I am okay with adding positions because I know there is a good chance that if price fails to go in one direction, it would most likely go further in the other. If I add less positions instead of doubling, I would need to target more pips which is more difficult to achieve. This still is extremely risky and I plan on shifting toward keeping trades in limbo instead of adding positions. I'll create a demo account to practice this.

    Lesson of the day for me: When I counter, I should try not to be greedy. I should be happy with a small profit or breakeven. I could have gotten out of this trade much earlier. This is something I need to work on. I feel like this happens to me quite often. If I work on this, I would be able to avoid unnecessary whips.

CADJPY M5

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_____

I missed the DZ because I had to manage this trade.
  • #18,991
  • Jun 19, 2017 8:57am Jun 19, 2017 8:57am
Quoting StudyFX
I pretty much reached my weekly target with this one trade... LOL. BUT, it was a stressful trade. CADJPY WH Surfing +76.7 pips (-13.5-11.4-5.2-12.1*4-12.0*8+15.7*16) I saw price around WH high. I bought and aimed for 5 pips above WH high. Countered at WH mid. Closed the buy and added a sell at WH low. I could've gotten out with some profit if I aimed for 5 pips below WH low, but I was greedy. Price reversed. Closed all sell positions at WH high and entered 4 buys. Price reversed. Closed all buys and added 8 sells at WH low. I aimed...
The john wayne of trading!

Take 10 steps and shoot.

What %% per pip u trading SF? Lower than 0.5%?
  • #18,992
  • Jun 19, 2017 9:00am Jun 19, 2017 9:00am
[quote=StudyFX;9993697]I pretty much reached my weekly target with this one trade... LOL. BUT, it was a stressful trade. CADJPY WH Surfing +76.7 pips (-13.5-11.4-5.2-12.1*4-12.0*8+15.7*16) I saw price

it is all about being in control and knowing your method.
As long as you are winning at the end of the day you are doing well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,993
  • Jun 19, 2017 9:00am Jun 19, 2017 9:00am
my FF seems to be acting oddly, catch you later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,994
  • Jun 19, 2017 11:49am Jun 19, 2017 11:49am
Quoting billytt
{quote} sorry but i beg to differ, a casino gives out free drinks/rooms, shops give out loss leaders, entrepreneurs invest. Same with me, i start off with X amount and if i end up with X+ that is me with a gain. It doesnt matter if i give some back we have casualties. I know how to play my game.
Hello Billy, wasn't claiming you don't know how to play.
Have a look and you'll understand what I meant: http://arno.uvt.nl/show.cgi?fid=122725
Cheers Mate!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,995
  • Edited 4:47pm Jun 19, 2017 4:27pm | Edited 4:47pm
Hey folks. Hope everyone was playing nice while I was away today.

Nice out there - put the colour back in my cheeks .

After this morning's DAX and AU action, as I said, I had to head out-and-about and apart for my first shot at tracking a trade on my phone (scary, scary, scary!!! ) that was all for me on the day.

The thing on the phone was a simple HOLO trade that let me triple-dip my entries and the actual trade was as smooth as the Queen of Smoothland but jeez, how do you guys who do it, do that?! I kept waiting for my signal to go down or the battery to suddenly die, lol. Not for me, I'm afraid...not...for...me.

Anyway, for the record, here's how the Dead Zone played out today. All things being well, normal service shall be resumed tomorrow.

EURJPY
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USDCAD
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AUDUSD
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USDNOK
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GBPNZD
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  • #18,996
  • Jun 19, 2017 4:30pm Jun 19, 2017 4:30pm
AUDNZD
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GBPUSD
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CADJPY
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NZDUSD
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NZDJPY
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  • #18,997
  • Jun 19, 2017 4:32pm Jun 19, 2017 4:32pm
XAUUSD
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USDJPY
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GBPJPY
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GER30
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OILUSD
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  • #18,998
  • Jun 19, 2017 6:04pm Jun 19, 2017 6:04pm
Quoting TooSlow
{quote} Hello Billy, wasn't claiming you don't know how to play. Have a look and you'll understand what I meant: http://arno.uvt.nl/show.cgi?fid=122725 Cheers Mate!
no problem bud, everyone has their own view on things., and we are here to talk..i will have a read
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #18,999
  • Jun 19, 2017 6:07pm Jun 19, 2017 6:07pm
Quoting billytt
t 08-06 i can speak now, i did a quick long on Cable with break of 04-00 high plus a retrace trace , i took 3 %. I wasnt looking for 5% but 1%, so 1% on break and 2% on retrace. I am done.. BUT i have a pending short on the Low looking for the Daily Range, again only looking for 5%
i nailed it lol...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,000
  • Jun 19, 2017 6:39pm Jun 19, 2017 6:39pm
Is it better to scalp after price crosses our trigger, on the way back towards the trigger ( to pick up extra %% )......OR......Is it better to compound on the opposite side trigger when going for you +5 and +20 or DR ( t pick up extra %% ) ??

I also am still not sure how profitable you think it is to enter a second trade going the original direction after it has already failed and retraced into our range a little bit. Basically entering a 2nd trade in original direction at a better price.
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