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  • #781
  • Jan 10, 2008 10:22pm Jan 10, 2008 10:22pm
Quoting pipstalker
I saw a post earlier that you were a participant in and it was discussing trading out of your qualified money (ie. 401K and IRA.) Sorry to post the answer here on this forum but FF would not allow me to respond on that THREAD.

You can set up your individual 401k to trade 4x as long as your broker allows it and you have a trustee holding the money that deals with your 401K broker. I looked into this last year through Millinieam and FXDD but was not happy with the answer to my questions from either groups "tax experts" so I did not move my indivual 401K over to them. However, I do know based on talking with my CPA last year this can be done. He told me your Broker has to accept the Trustee and Fee's. I only found one at that time that would do so, but doesn't mean there are not others. Apparently not prevented by the IRS, I mean they let you invest your qualified $ in Real Estate, so why no FX. In other words, ASK YOUR BROKER.
I will have information in a few days that is related to 401K's, I.R.A.'s for forex traders and also updates on I.R.S. new Forex Tax Law changes from a Forex Tax Attorney. He is away for a few days and when he returns, he will share some very interesting info for us. I was told that we will be very pleased.

I will be posting this here---> http://www.forexfactory.com/showthre...02#post1796802
  • #782
  • Edited Jan 11, 2008 9:47am Jan 10, 2008 10:25pm | Edited Jan 11, 2008 9:47am
Quoting pipstalker
DO YOU EVER SLEEP??

Really appreciate your contribution in so many areas of FF.

Thank you my friend... I am on a deadline to finish up my house plans and while trading, I am also on another screen working on those plans. When I need a break from that, I come here to help others.

I have this unknown source of energy that is amazing.


Added.. I am considering going back to my 1 hour chart for trading.
  • #783
  • Jan 11, 2008 10:16am Jan 11, 2008 10:16am
Hi,
Ive been away from this thread for some time. It has become a very long thread. Just to recap, is this the system eagle is currectly using, or has it changed?
ON GBP/USD:

BUY each time price breaks high of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.
SELL each time price breaks low of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.

Has anyone backtested this? Please direct me to the post.
Is anyone using this on live account, how profitable have you been?

Thanks.
  • #784
  • Jan 11, 2008 11:12am Jan 11, 2008 11:12am
Quoting eagle_eye
Hi,
Ive been away from this thread for some time. It has become a very long thread. Just to recap, is this the system eagle is currectly using, or has it changed?
ON GBP/USD:

BUY each time price breaks high of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.
SELL each time price breaks low of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.

Has anyone backtested this? Please direct me to the post.
Is anyone using this on live account, how profitable have you been?

Thanks.
why do you double post? one will work just fine.
  • #785
  • Jan 11, 2008 1:42pm Jan 11, 2008 1:42pm
Quoting bmwboyee
why do you double post? one will work just fine.
It's usually done by accident, and doesn't warrant a smack-down.
  • #786
  • Jan 11, 2008 1:48pm Jan 11, 2008 1:48pm
Quoting DGC
It's usually done by accident, and doesn't warrant a smack-down.
the other post was a day old. so that wasn't the case.

http://www.forexfactory.com/images/s...n/post_old.gif Yesterday 7:16pm
http://www.forexfactory.com/images/s...n/post_old.gif Today 12:16pm

Regardless, not a big deal, please carry on
  • #787
  • Jan 11, 2008 2:23pm Jan 11, 2008 2:23pm
Quoting DGC
It's usually done by accident, and doesn't warrant a smack-down.
This is a classic case of someone wanting an update without having to read the entire thread. The first post was probably not answered because most of us have read the entire thread and expect others to do the same.......that is, put in the time and work required in order to reap the benefits that come from such an effort. Some of us are "old-school".
  • #788
  • Jan 11, 2008 3:40pm Jan 11, 2008 3:40pm
Quoting BeachBum
This is a classic case of someone wanting an update without having to read the entire thread. The first post was probably not answered because most of us have read the entire thread and expect others to do the same.......that is, put in the time and work required in order to reap the benefits that come from such an effort. Some of us are "old-school".
Your analysis is correct. Well done. I admit I have not read the whole thread. Its very long and I have a day job. I thought someone might be able to help.
  • #789
  • Jan 12, 2008 1:11am Jan 12, 2008 1:11am
Quoting ozzibob
Hi Eagle

Just came across your thread. I like it. Seems so simple, especially for a newbie like me.

Thanks for sharing it.

And thank you to all that have added to Eagles work.

Ozzibob
THANKS BROTHER
MANY WIN MONEY MONEY MONEY
  • #790
  • Jan 12, 2008 7:43am Jan 12, 2008 7:43am
Quoting eagle_eye
Your analysis is correct. Well done. I admit I have not read the whole thread. Its very long and I have a day job. I thought someone might be able to help.
This is NOT a criticism; but if you really want to grasp how a strategy works properly, you need to spend the time reading and studying that strategy. The time will be well spent if you are serious about using this or any other trading method. Shortcuts usually just don't work very well........."been there, done that"!
  • #791
  • Jan 12, 2008 7:49am Jan 12, 2008 7:49am
It seems to me that BeachBum spends most of his time cruising around telling people to go back read the entire thread. Pity~

Quoting BeachBum
This is NOT a criticism; but if you really want to grasp how a strategy works properly, you need to spend the time reading and studying that strategy. The time will be well spent if you are serious about using this or any other trading method. Shortcuts usually just don't work very well........."been there, done that"!
  • #792
  • Jan 12, 2008 7:55am Jan 12, 2008 7:55am
Quoting FXStarShip
It seems to me that BeachBum spends most of his time cruising around telling people to go back read the entire thread. Pity~
I think he just saying that if you want to learn your craft, you need to do some research...that's all.

HOLLA
  • #793
  • Edited 8:01am Jan 12, 2008 7:59am | Edited 8:01am
Quoting BeachBum

However, a visual survey of EUR/USD would suggest that a large amount of price movement takes place in the one hour preceding the London open.

This perk up my interest BB, started doing some research last night on the gbp/usd at the European open......

HOLLA
  • #794
  • Jan 12, 2008 8:39am Jan 12, 2008 8:39am
Quoting FXStarShip
It seems to me that BeachBum spends most of his time cruising around telling people to go back read the entire thread. Pity~
Really.............? All 1666 posts...........?
  • #795
  • Jan 12, 2008 9:09am Jan 12, 2008 9:09am
Quoting BeachBum
It's my understanding that this method is keyed to the opening of the London market. The "Breakout Box" closes when London opens at 8:00 GMT.

However, a visual survey of EUR/USD would suggest that a large amount of price movement takes place in the one hour preceding the London open. I would attribute this to trading that takes place in Europe because those markets open one hour before London. Therefore, if the "Breakout Box" closed one hour earlier, it would be smaller, more compact and would appear to provide greater trading opportunities and hence larger gains, especially when filtered with the Sto Oscillator I referred to in the above two posts.

Other currency pairs would probably be different. For example, I've observed that adjusting the "Breakout Box" to correspond with the Sydney and Tokyo opens works well with currency pairs closely correlated to those markets.

Any thoughts on this?
I don't think I've posted in this thread before, but follow it with interest, as a simple break-out plan has been part of my {and probably many others'} arsenal for some time.
I also have to agree with BeachBum. Turtle just reminded me

I've been trading the 1st hour {power-hour?} before session opens succesfully for quite some time. {Exception Asia, i usual position for a break of the first 4 hours}
Eagles "box" just made it easier than drawing the horizontal lines myself! :
Thanks dude!!

So if I can add any value, if just for your research sake. Check this.

4H-breakout Asia Box: 00:00 - 04:00 GMT
1H-breakout Europe Box: 07:00 - 08:00 GMT
1H-breakout US Box: 12:00 - 13:00 GMT

BTW, to the cody coders. Is there anyway of getting more than one box per TF onto the chart? I can only drop one on at a time, and don't really to MQL:.
If not, no sweat, I do them manually.
The reason I ask, is that often, a break of the open of europe for example, gets pushed back into within that range and can mill around there for hours. Then break again on US open, and find a range that is sometimes again, within the range set by the first hour.
"The box" provides a very good "range guage" as well on those days.
Check it. Hope that made sense.
Carpe Divitiae
  • #796
  • Jan 12, 2008 9:34am Jan 12, 2008 9:34am
fsiltd,
hi there,
yep, I had the same problem trying to get more than one box on the chart.
My way around this was to have two templates with the same chart set up but with different box time settings. Assuming you are using Metatrader. Template 1 for the European open, Template 2 for the US open. HTH
Dave
  • #797
  • Edited 9:52am Jan 12, 2008 9:51am | Edited 9:52am
Quoting Acko
fsiltd,
hi there,
yep, I had the same problem trying to get more than one box on the chart.
My way around this was to have two templates with the same chart set up but with different box time settings. Assuming you are using Metatrader. Template 1 for the European open, Template 2 for the US open. HTH
Dave
Yep, do that also sometimes, if I'm focusing in on 1 pair.
Else as said. I'll leave the europe-open box on screen, and manual the rest. I only use MT for analysis sometimes. I don't actually trade the platform.

Either way. If you're a short-term trader/long-term speculator as I am.
The theory is sound. My acc balance is all the proof I need.


PS. Sorry eagle, I'm not trying to "change" anything with this method/style/technique/stratagy/call it what you will.
Just observations.
Carpe Divitiae
  • #798
  • Jan 12, 2008 10:04am Jan 12, 2008 10:04am
Attached Image (click to enlarge)
Click to Enlarge Name: BREAKOUT AND TDM.jpg Size: 53 KB
  • #799
  • Jan 12, 2008 10:15am Jan 12, 2008 10:15am
????
Can you explain ?
It's probably nice.
I love Materazzi ....
  • #800
  • Jan 12, 2008 10:43am Jan 12, 2008 10:43am
Not intended to be negative towards you- just a shame people don't investigate before making inquries

Quoting BeachBum
Really.............? All 1666 posts...........?
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