Extracted Thread (per thread starter's request)

Ya, I got it. Things like these get me worried abt forex trading. The spike didn't close my TP even thou it went down below it as I shorted the USD/CHF. My TP was set at 0.86720 and the spike went down to 0.86662. So what the heck happened that it didn't close my trade. It went passed my TP by 6pips, yet my position was left running!!!

Brokers use variable spreads, so particularly in situations which are very fast moving (spikes as you call them) the spread may increase hugely - my guess is the spread was way bigger than 6 pips. Also a broker doesn't guarantee to fill your position - look at the small print regarding market liquidity.

But probably my question would be 'Why are you trying to trade CHF anyway', following the recent massive central bank interventions?

The email alert didn't fire last night. I even tested the MT4 email setup before going to sleep last night. It should have emailed me at 2:45am.

The BO signal arrow and extended box did not appear until I changed TF and changed back to M15.

Does anyone else use the email alert and is it working ok for you?

My computer runs XP Pro. It does not hibernate or standby or even lock the screen. Not sure what happened.

I think one of the problem with breakout system is it only happened at certain times & looks like for cable & eu mostly happen at London open (or even during Tokyo )..then it's quite difficult for those at US (but very compatible with those in Asia/Europe)..One can just put a stop order at one or both side of the CZ although the risk is higher.. No worry alienfrog,i'm sure the smart guys here can have a solution for this..Good Luck !

Andri,

EmptyEternit posted an OCO (Open One close the Other) script a while back. I just downloaded it. That's a good step toward a solution, except for the fact that you don't know where the second candle will close. But I use MT4 for analysis and another platform to execute trades, so I can't use that script. Have to figure out how to get the indi to email properly.

Just closed shorts on both the Dragon and Cable for a total of 102 pips.

100 pages, congratulations FH!

Thanks for everything you've provided here in this thread FH! I found this thread about a week ago and have worked my way through it and have found this to be a manual system that I can definitely get with. First post here but wanted to give you props for everything!

Forexhard,

Outstanding......I was with you on the first one for about 3/4 of the ride.
You just cannot beat this.

Macman, that's what I meant...Pictures dont lie, and my broker's spread on that pair is barely 2. The dotted red lne is my TP and the Green of course is the entry price. By the way, I use Alpari

How do you know that the Alpari spread did not also spike? .... unless I am missing something here

So last night I specifically singled out the exceptionally tight range I saw forming inside of this CZ. And here's what it looks like 20 hours later.

Such a lucky day ..glad i keep other position open & shut down my computer (there's still 2 sell position @ 1.5740 & 1.5720 ) & this morning i saw already have + 220 pis..Thanks to FH,Squalou & Mer ..That's it for me this week & see u all nx week.. Good Luck !!

Yes, that's a perfect setup! I stayed out of the market with all the high volatility. Missed all the pip making.

Andri - nice job! Would you please call me and wake me up when the next signal shows up?

This is THE way to trade forex!

Mega kudos FH! If I ever find myself in Vegas it will be because I'm retired on this system, and I will PM you so I can buy you a steak dinner! Maybe soon!

May the Pips be with you!
AF

I would like to say thank you to FH for this invaluable system, have been following the thread for the last 6 weeks and am getting on really well with it. Fantastic work, so thank you to all that have been involved in getting it this far, FH, Squalou, Steve, Mer, etc. Looking forward to futher developments.http://www.forexfactory.com/images/icons/icon14.gifhttp://www.forexfactory.com/images/icons/icon7.gif

I really can't thank these guys, FH, Squalou, Steve, enough for sharing their experiences and money making machine with us. Personally, if I had come across a thread like this I wouldn't have paid for my broker's latest car by blowing my accounts severally. Anyway, it's all hood. Everything happens for a purpose, I believe...That thing should read "trade forex like a sniper,"

I follow this thread from start. This method is very interesting. In the last weeks I played around with this method and the different trading approaches after the breakout. So I wrote a litte EA for myself to test. The results were very interesting. The Fibonacci Levels without Close Option on every Level brings around 75.700 Euro for April, 1st to August, 31 with a start at 10.000 Euro in EURUSD. There were many Trades with only Breakeven and only one Trade hit the TP at 11.090. Fibonacci Levels with Close Option on every Level ended in a total lost. Problem with this trading style is you must open so many Lots for every single Fibolevel where you want to close a Lot. If the Trade doesn't go in your direction you take a big lost at your SL Point. The next Trade must be a winner with minimum trailing SL in Pips from the last lost. Here we have the same problem like the Fibonacci Levels without Close Option. To many trades go only to Breakeven. The overall win/lost ratio is negative. With martingale it is possible to work around this "problem". I tested such a version, which brings around 300.000 Euro, but it brings the account sometimes near extinction with drawdowns around 80 to 90 percent.
The best results I got from fixed TP/SL 40/20 with 136.000 Euro. The result could be better, because I use a static dynamic Setting for the indicator with 22/30/0.16 for the whole time. In August the Box Range go over 30 Pips, so the EA produces many loss trades. At top in mid August the proft was 193.000 Euro. On the other side May only with two Boxes but both winners.

So never go over 30 Pips in Box Range as forexhard wrote earlier in this thread. The win/loss ratio trops rapidly even with my ratio of 2:1.

Another think I found out by my testing. The indicator has some failures. When AutoBoxRange is 'true', the Box and Box values changes. After Midnight the Box get a new ATR value, which is different to the time of box forming. And when the Period for the Minimum Box Range don't increase anymore but the new Bar is inside the Box the High and Low Pointer points to the wrong bar. This results in a change of the Box values. I fixed the indicator V1.13 from 2011/09/20 in the attachment.

Frank, welcome aboard.

I hoped to test your EA, but the file you gave was only for an indi. Did you want to share the EA file as well?

I'm on two different MT4 (ActivT. & Interbank), different results ...

(both default)

Please help

http://i52.tinypic.com/wsjql4.gif

http://i54.tinypic.com/258yvs7.gif

which is correct??