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Trade Outside the Box (TOTB)

  • #1
  • First Post: Edited Mar 31, 2020 6:35am Mar 7, 2020 2:07pm | Edited Mar 31, 2020 6:35am
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Hi Everybody

Trade Outside the Box TOTB

Just think Outside the Box you will be awsome for your trade

06:00 -10:00 GMT 4 Hour Candle
High & Low

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USE
THIS INDI Modified BY SwingMan

Last Ver post #312

https://www.forexfactory.com/showthr...7#post12846977

https://www.forexfactory.com/attachm...7&d=1583877282

https://www.forexfactory.com/showthr...2#post12803722


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Just Trade Outside the Box TOTB

if a H1 BAR close above the Box Open

NOW You have a VIP DATA to follow and Manage your RISK (divide your Risk) / Number of Pips the Range to Set your Lost SIZE

We Know High & Low and how many Pips in the Range

1- BUY position with Take Profit at 50 of The range of the BOX within SL loss if any 1H BAR Close Below the BOX .
2- Set a Buy limit Order at the high of the BOX with a Take profit same pips of the BOX and SL Loss if any 1H BAR Close Below the BOX.

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we have a exact setup to follow
1-BOX Range
2-Wait for Setup to be done
3- calculate your risk R:R
4- Be ready to open your Sell / Buy Market & limit Order as well


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DONīT TRADE

*if BOX more tahn 200 Pips on (GBPUSD/EURAUD/USDJPY) or more than 300 pips on (GJ/EJ/GA)
* If the BreakOut Bar close and hit 50% of the range



i'll appreciate your help to creat an EA

with
1-Time GMT modifiable
2- Optional to close all trade at 50% of the RANGE and Trailing Stop



( remember to divide & calculate Your Risk & Lot SIze)


TOTB Ind & Temp

Attached File(s)
File Type: rar Trade Outside TheBox.rar   68 KB | 3,246 downloads

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ENJOY YOUR TRADE
  • #2
  • Mar 7, 2020 2:47pm Mar 7, 2020 2:47pm
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ENJOY YOUR TRADE
  • #3
  • Mar 7, 2020 3:02pm Mar 7, 2020 3:02pm
What will be the effect of Daylight Saving Time on this method?

London is currently on GMT but the clocks go forward 1 hour on March 29.

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #4
  • Mar 7, 2020 3:24pm Mar 7, 2020 3:24pm
Quoting Erebus
What will be the effect of Daylight Saving Time on this method? London is currently on GMT but the clocks go forward 1 hour on March 29. Thanks

Nothing will Happen just Modify the the BOX

and Focus outside of it

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+2GMT
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ETC ......
ENJOY YOUR TRADE
  • #5
  • Mar 7, 2020 3:36pm Mar 7, 2020 3:36pm
Quoting Emma7788-FAN
{quote} Nothing will Happen just Modify the the BOX and Focus outside of it +2GMT ETC ......
So basically, nothing to do with GMT, use the London market local open time

Which is GMT unless BST is in effect

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #6
  • Mar 7, 2020 3:43pm Mar 7, 2020 3:43pm
Quoting Erebus
{quote} So basically, nothing to do with GMT, use the London market local open time Which is GMT unless BST is in effect Thanks

Thatīs why most of Brokers Change servers to not be centered on the BOX

and modify the (+) or (-) GMT depending on Your Broker Server Time

https://www.forexmarkethours.com
ENJOY YOUR TRADE
  • #7
  • Edited 6:33am Mar 8, 2020 3:10am | Edited 6:33am
So you decided to start your own thread.
(Truth be told I know people who would be so so so glad if Emmanuel7788 had done the same things years and years ago - but somehow it never happened...)
Very good decision once again.
Are you planning on looking at New-York-Open-BO as well?
[And possibly this may also be of interest to you: https://www.forexfactory.com/showthread.php?t=985049]
I will follow your development (and expect great things of you).
  • #8
  • Mar 8, 2020 4:45am Mar 8, 2020 4:45am
Quoting Emma7788-FAN
{quote} Thatīs why most of Brokers Change servers to not be centered on the BOX and modify the (+) or (-) GMT depending on Your Broker Server Time https://www.forexmarkethours.com
So 2h hours before and 2 hours after Londen open?
  • #9
  • Mar 8, 2020 6:48am Mar 8, 2020 6:48am
Quoting josi
So you decided to start your own thread. (Truth be told I know people who would be so so so glad if Emmanuel7788 had done the same things years and years ago - but somehow it never happened...) Very good decision once again. Are you planning on looking at New-York-Open-BO as well? [And possibly this may also be of interest to you: https://www.forexfactory.com/showthread.php?t=985049] I will follow your development (and expect great things of you).

Thanks Josi
KEEPING near to hear new things soon
ENJOY YOUR TRADE
  • #10
  • Mar 8, 2020 6:49am Mar 8, 2020 6:49am
Quoting Anusragger
{quote} So 2h hours before and 2 hours after Londen open?
from 06-10 GMT just adjust your time depends on your broker time
ENJOY YOUR TRADE
  • #11
  • Mar 8, 2020 9:01am Mar 8, 2020 9:01am
Hi Emma,

What's the rationale for the selected breakout of the high/low of the 2 hours before/after the London open? Are the results statistically better when compared to a breakout of the High/Low of ANY 4-hour period?

Best,

Dave
  • #12
  • Mar 8, 2020 10:00am Mar 8, 2020 10:00am
Quoting Emma7788-FAN
{quote} from 06-10 GMT just adjust your time depends on your broker time
Hi

The box is from 6 to 10 GMT and you wait for a 1hr bar to close above/below the box, so the orders are placed at 11 GMT.

Is this correct?
Regards
  • #13
  • Mar 8, 2020 10:49am Mar 8, 2020 10:49am
Quoting davelansing
Hi Emma, What's the rationale for the selected breakout of the high/low of the 2 hours before/after the London open? Are the results statistically better when compared to a breakout of the High/Low of ANY 4-hour period? Best, Dave



I trade GBP USD/ GBPJPY/USDJPY/EURJPY
08:00-12:00 On my brokers MT4 (+02GMT)
that’s will be equal
06:00-10:00 GMT (1 hour before Frankfurt open 7 GMT +1 hour after London’s opening and closing of Asia

The reacional is High & Low already stablished by ASIA session and Frankfurt open at 07:00 & London 08:00 Normaly price is voltaility on this Opening Time speacially at 09:00 GMT and buyer and seller are fighting on the Eurpean inicial balance

I donīt want to give more details the most important is to simplicity and have rules and follow it
Believe me works well just focus and trade out of it
want more complicated and more indicators here in FF full of thread thatīs have such so startegy



the results statistically

looks very nice if you follow my Money Management Style DIVIDE The risk and Cut loss and achieve the 50% to cut losses to 50%off

Even i use the fixed Risk Each day you loss 100$ or Win 100$ per Trade

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Trade Outside the Box
ENJOY YOUR TRADE
  • #14
  • Mar 8, 2020 10:56am Mar 8, 2020 10:56am
Quoting howard
{quote} Hi The box is from 6 to 10 GMT and you wait for a 1hr bar to close above/below the box, so the orders are placed at 11 GMT. Is this correct?


Order placed win Complet the Setup Bar close above / Below

when i Donīt know normally i check evey hour just 2 min before the close or set price alert when it hits make a sound so i look to chart and wait the candle to close if dosenīt close above or below i do nothing


DOING NOTHING in Forex Trading is more than doing or taking bad decision depending on Technical Indicators overbought / oversold
i just wait for the chance and the war between Buyer & Seller Finish
just i follow the winner
ENJOY YOUR TRADE
  • #15
  • Edited 11:34am Mar 8, 2020 11:06am | Edited 11:34am
Quoting Emma7788-FAN
{quote} The rational is High & Low already established by ASIA session and Frankfurt open at 07:00 & London 08:00. Normally price is volatile on this Opening Time especially at 09:00 GMT [when] buyers and sellers are fighting on the European initial balance. I donīt want to give more details the most important is to simplicity and have rules and follow it Believe me works well just focus and trade out of it want more complicated and more indicators here in FF full of thread thatīs have such so strategy the results statistically looks...
Right. Wasn't asking about the inclusion of more indicators - I personally don't trade with indicators - but rather have you compared this 4-hr block with any other 4-hr block within the trading day to really determine the importance of this specific 4-hr time period? Buyers & sellers are fighting throughout the day wherever the liquidity pools are- not just at some specific points during the day. And I wholeheartedly agree about having specific rules to trade by. But with that said, showing that your backtesting results (or forward testing) has a positive expectancy over a long period of time is a better argument to indicate that your system "works" rather than stating "Believe me works well" or showing 1 month of data. Not trying to be an ass but just asking about the research...

This is an interesting idea and I'll need to put this on my backtesting "to-do" list...

As always, best and good luck!

Dave
  • #16
  • Mar 8, 2020 11:13am Mar 8, 2020 11:13am
DOING NOTHING in Forex Trading is more than doing or taking bad decision depending on Technical Indicators overbought / oversold
i just wait for the chance and the war between Buyer & Seller Finish
just i follow the winner

USDJPY
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GBPJPY
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GBPNZD
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ENJOY YOUR TRADE
  • #17
  • Mar 8, 2020 11:23am Mar 8, 2020 11:23am
Quoting davelansing
{quote} Right. Wasn't asking about the inclusion of more indicators - I personally don't trade with indicators - but rather have you compared this 4-hr block with any other 4-hr block within the trading day to really determine the importance of this specific 4-hr time period? Showing that your backtesting results has a positive expectancy over a long period of time is a better argument that your system "works" rather than stating "Believe me works well" or showing 1 month of data. Not trying to be an ass but.... I'll need to put this on my backtesting...


i have been Trading other sessions before what iīve noticed better was this block For Breakout Entry

there others sessions you can use for SUP & RES but this thread just for this BOX

about data iīve 18 months backtesting and last four months live trading

GBPUSD / GBPJPY / USDJPY

using the correlation between pairs

for me itīs more than enough to trade manually.



Attached File(s)
File Type: pdf GBP jpy test b-o 08-12.pdf   438 KB | 1,332 downloads


Attached File(s)
File Type: pdf GBPUSD 08-12.pdf   502 KB | 1,058 downloads
ENJOY YOUR TRADE
  • #18
  • Mar 8, 2020 11:54am Mar 8, 2020 11:54am
Hi Emma,

I am confused as to how you enter the trade. From what I understand you wait for a 1h bar to close outside the box, as long as it does not go beyond the 50% TP level? If so, isn't your R:R less than 1:1 per trade?

Just trying to understand your method
  • #19
  • Mar 8, 2020 12:17pm Mar 8, 2020 12:17pm

Without patience, you’ll fail as a trader.


Don’t be a FOMO trader. Always wait for confirmation before entering a trade.



Patience Is Also A Form Of Action

– Auguste Rodin



1. Follow your trading plan

2. Wait for confirmation

3. Use Market , limit and stop orders

4. Use price alerts

5. Know yourself


Other opportunities will always come along.



ENJOY YOUR TRADE
  • #20
  • Mar 8, 2020 1:04pm Mar 8, 2020 1:04pm
I still have a Question about the SToploss:

Lets Say for Example we have an Valid Long (Buy) Entry. Then we put the Stoploss on the other site of the Box right ? Are we closing when price reach it or are we closing just when on the other site the Market has an h1 close ?

And the other Question: You said you enter2 position is the one to take out at the 40% tp ? and the other goes to the 100% tp ?
Or are the two orders just for the sl ?


And as well do you let the trades open over night when either tp or sl hitted ?
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