Mira wrote: Mr. D wrote: Mira wrote:
My failed long from yesterday.
I think that my “good” moment in trading is over, again.
4+ years of trading and still I can’t do it, that’s ridiculous
I focused on only one method for more than a year, as the pros suggested me: nothing.
Risked lines, lost lines.
I’m sorry friends.. but I’m a bit tired of all this.
Be easy on yourself. Learning takes time. If you are looking for a more certain outcome, look at Billy bar at FF. The odds are in the upper 90s.
Thank you Mr. D!
I love LeM but I can’t face 1800+ pages on FF at the moment lol.
I won’t go into a new directional strategy because the mistake/mistakes I do are at the core of all the strategies around the web.
What is the mistake that I’m taking about?
Well I don’t know
Right soldier! On your FEET! Head up! Chest out! Eyes FORWARD! Billy Bar
GU only. M15 tf.
Wait for 08:00 - 08:15 bar to close.
Trade the break of bar.
Aim for +5 (take more if you get it and stick it in your bank).
If first move fails, trade the retrace and chase the adr.
Billy (of Billy's Bar himself) has crunched staggering numbers on this - all based on frequency distribution. He really knows his stuff. All the legwork has been done for you on this - trust the numbers.
The subtleties on the thing:
The adr is established over the last 20 days - excluding Sundays. Once that is established, reduce that number to a ''modest'' adr. That is, should the actual adr come in at, say, 100, then adjust your modest adr to 70, or even 60. Whatever, you see where that goes and what it gives you.
Originally we would run this using counter trades but ESMA has now made that more difficult for those on a tight budget. There is no reason whatsoever why you cannot run it using a fixed sl.
Also, Billy doesn't do this but I do, in that I will look to run a WZ entry off a fail. This gets me pips early and offsets any possible (very, very, rare but yes, still possible) double fail.
Although he doesn't use WZ tech specifically, he will look at using the retrace to claw back pips, so although he won't call it that as such, he is actually using the same techniques as WZ but just in a slightly different way.
Honestly, I know you are saying that you don't want to change direction again but it really is golden and money in the bank and not far removed from our techniques here.
On longer tf there is also the 00:00 - 04:00 uk bar AU set up. Traded exactly the same way - and can even be done by waiting for a fail on the initial move and trading only the retrace. That is astonishingly productive.
Let me know and we can walk through this together - I am sure there will be others here interested in it as well.