Hi Billy, Everything I've learnt so far has been by following you guys and listening to what you have to say. It has served me well so far.

Billytt Die happy trading e/j daily breakout

Good effort today. Even when scalping, you must have a base method you're using?

Billytt Die happy trading e/j daily breakout

AU 4am-8am broke again for more than 20 pips. Didn't happen until much later on in the day. Slow and steady...

Billytt Die happy trading e/j daily breakout

For example today the Billy Bar has broken in one direction only so far. And given us over 70 pips with a risk of less than 15 pips. Hopefully that's a light bulb moment. Imagine if it failed twice (so we lost 30 pips), the eventual move more than ...

Billytt Die happy trading e/j daily breakout

Another gem that deals with counter trading.

Billytt Die happy trading e/j daily breakout

Yeah hedging isn't easy which is why if we're not comfortable, taking a loss is more sensible so that we can move on. For hedge/counter trades, you need a large balance, plus belief that the system works, as well as lightning fast reactions.

Billytt Die happy trading e/j daily breakout

I sometimes look for more than 5 pips (but my risk is lower). I let the 15 minute bar break and see how far it goes. More often than not, the bar only breaks 2 or 3 times in one day. If I lose 1 or 2 trades, the rewards are usually higher when it ...

Billytt Die happy trading e/j daily breakout

A great post by Lem where he goes into detail about countering/hedging.

Billytt Die happy trading e/j daily breakout

Thanks Dave that was helpful. I'll look into it.

Billytt Die happy trading e/j daily breakout

Say if the breakout is in line with your overall daily bias, you may want to let it run. Also, sometimes the strength of the breakout will tell you what you need to know.

Billytt Die happy trading e/j daily breakout

I can never get Renko bricks to work. Why do they make it so complicated lol. How many 10 pip bricks would constitute a breakout (trade trigger) for you David?

Billytt Die happy trading e/j daily breakout

Sometimes we have to let the winners run to make up for the losing days. Doesn't always work but locking in your profit at +5, and then giving the trade free reign to go where it will go has done well for me in the past.

Billytt Die happy trading e/j daily breakout

AU 4am-8am range (UK time), the breakout gave us 5 winners in a row (minimum 10 pips profit) last week. No counter needed. Thanks Billy.

Billytt Die happy trading e/j daily breakout

If we were playing the 1st break only, we would have won 43 times and lost 21 times. Although every month was a winner in the end, March and April were both much better than Feb and May for some reason.

Billytt Die happy trading e/j daily breakout

Thanks Billy. Some stats for this bar (4am-8am AU) from Feb to the end of May 2020: It wins more often than it loses (10 pip target). Well over 70% win rate. This becomes even higher if aiming for 5 pips. In the past 4 months, it has failed on both ...

Billytt Die happy trading e/j daily breakout

Please keep us posted.

Billytt Die happy trading e/j daily breakout

Might be easier using 1 hour bars. 4 hour bars can be different, depending on broker times etc. Put a box around the following 4 bars: Bar starting at 4am Bar starting at 5am Bar starting at 6am Bar starting at 7am Play the breakout. Billy's stats ...

Billytt Die happy trading e/j daily breakout

Well said Mr Green. The Billy Bar works on most instruments/pairs. Look at the Dax. Look at GJ. I already said yesterday that risk can be diversified. If Iddd had used GU and GJ yesterday for the Billy Bar trade, he would have ended up on breakeven, ...

Billytt Die happy trading e/j daily breakout

As Bojack34, Lem and probably Billy have all said, if you are looking for an easier method with a high strike rate (80% plus), with potentially 1:1 risk reward, then the AU 4am-8am break is perhaps better suited to your needs. Go for 10 pips on the ...

Billytt Die happy trading e/j daily breakout

The AU breakout is the breakout of the 4am to 8am bar UK time. It was successful yesterday and today.

Billytt Die happy trading e/j daily breakout