DislikedHi Ace
Do you stop trading for the week after two stop-outs, like EJ this week.Ignored
Box Breakout indicator 195 replies
Breakout EA based on New York Box 3 replies
4H Weekly Box Breakout [TD] 4 replies
EURUSD Box Breakout 6 replies
Breakout Box 5 replies
DislikedTrade in units of three... feels good.
One more observation. I looked at this method on a 1 hour chart. It seems to work, but with more false breakouts. .Ignored
DislikedAs I said in an earlier post I want to try to do the end of the week TP method, but with Ace's entry method. Well, this is my first result.
Trigger candle: 4 x 1H from Sunday 23:00 GMT bar open to Monday 02:00 GMT bar close + buffers (buy: 20 pips + spread; sell: 20 +1)
Pair: GBPJPY
Sell: Stop -> buy trigger level (have not been stopped out on this pair, but it was close....) [Risk: about 87 pips + 20 pips + spread per SL, max: 2x)
Sell: TP (Friday, about 19:50 GMT): 75 pipsIgnored
DislikedFewhills-
Not a good week for gbp/jpy obviously. There were those that took 300 pips profit and that is going to happen for those of us looking for a larger reward. The time will come when this pair takes off and might not retrace for several weeks. If you use your head a bit you can hold the position for a few weeks and pick up tons of pips. Even re-enter every week while maintaining your original position. Easier said than done, I know. But the possibilities offered by an early entry system such as this are endless.Ignored
DislikedPosting last weeks results
GBP/JPY = +48 pips
EUR/JPY = -198 pips
Total = -150 pips
Like I said before, im going to post every week, winner or loser.Ignored
DislikedFor weekend analyses you can check the potential of the signals with a simple indicator.
The indicator take automatic the upper time frame:
- lower or equal H1 -> daily
- equal H4 -> weekly
- equal D1 -> monthly
- In the middle of the start bar is drawn an area with the height = 1 ATR, and three lines with the distance 1 ATR.
- Signal arrows are drawn only if the open is located between the high and low of the area, and the close crosses one of this lines.
.Ignored
DislikedAce,
On Oanda, I made +320 pips with GJ @ TP4. I'm assuming you let the trade run for the full week? But why didn't your trade end with more pips @ TP4?
Thanks again for all youe efforts! Really appreciated...
BobIgnored
DislikedThe trade only went to TP3 which is 3x. TP 4 = 4x.
On my chart I also have 2.5x, but I don't use that as a TP. I've just had it there when I was testing and just forgot to take it off.Ignored
DislikedAce,
I am a bit bewildered...
My FXDD numbers were the following for last Sunday night on GBP/JPY:
Box High = 159.87
Box Low = 158.02
Box Range = 85 pips
Sell = 157.81
TP4 = 154.53
Price on my chart filled the TP4 @ 154.53 which gave me 328 pips. Price continued downward even lower to 154.04 which was an additional 49 pips.
Are my calculations in error? I surely would like some correction if I am wrong, because I want to trade your strategy live again tonight (Sunday).
Thanks again...simply a great thread!
BobIgnored
DislikedYou need to include the buffer on both sides of the box range (long & short). Since Ace uses a buffer of 20 pips, the actual box range for GBP/JPY this last week was 125 pips.
And, I agree . . . it's a great thread.Ignored
DislikedHi Yen,
Thanks for your correction...I can't believe I missed the buffers being used to expand the size of the box (plus broker spread on the buy) in calculating the TP levels. I've been trading breakouts for a long time, now, and I STILL missed that point. And yet after rereading the first post, it was very clear in black and white...makes me feel like a rookie all over again! LOL
BTW, if the broker spread was 6 pips, wouldn't that make the size of the box 131 pips?...Ignored