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4H Box Breakout

  • #141
  • May 14, 2009 8:12pm May 14, 2009 8:12pm
The thing I love about back testing this system is that it is so easy and the numbers are accurate. No worrying about repainting and whether the momentum lines had moved one way then moved back. Boxes don't lie. lol
  • #142
  • May 14, 2009 8:15pm May 14, 2009 8:15pm
I think that once we have the final rules down that we should work on some different money management plans....conservative, aggressive ,etc.

All we need is an edge(and it appears we have one) and we could use different types of money management(even some gambling ones)
  • #143
  • May 14, 2009 9:20pm May 14, 2009 9:20pm
Anyone want to test another pair?
  • #144
  • May 14, 2009 9:35pm May 14, 2009 9:35pm
"That section in bold could be the edge that this system has, I too would appreciate if someone went through and checked. Maybe if the first two bars on a H1 chart are the same direction the end of the week will be in the same direction, or maybe the first 3 bars on a 30M chart, or 20bars on a 1M chart. The key here is to Look For A Pattern"-Ronald Raygun

I agree with you 100%. I dont know if you are familiar Ronald with Larry Williams? But alot of his successful trading methods are based on these type of patterns. Trade days of the month factored in with trade days of the week etc... He uses trade navigator to test all these patterns out quite successfully I may add ;-)

Well worth looking into for ideas.
Master your Mind,,,Master the Market
  • #145
  • May 14, 2009 9:43pm May 14, 2009 9:43pm
I was testing the EA on strategy tester and it was working fine. Not it only draws the vertical line for the entry bar and that's it. It takes no trades and does not draw the horizontal lines. What have I done?
Cheers
CanuckCT
  • #146
  • May 14, 2009 11:41pm May 14, 2009 11:41pm
Ace284.......newbie here.....been studying and trying to demo for a few months but not with a firm method......
i have only been trading gbp/us.....do u think this will work with this pair?
thanks for all your help....this method sounds like something that i as a newbie can trade without getting confused....thanks again...
  • #147
  • May 15, 2009 1:15am May 15, 2009 1:15am
With the new NFA regulation to ban hedging, are we allowed to put pending order of buy stop and sell stop at the same time? I think my broker, IBFX did not allow that.
thanks
  • #148
  • May 15, 2009 2:04am May 15, 2009 2:04am
Yes you cannot put buy sell orders on the same pair but you can open two accounts buy in one and sell in other or open account outside USA.
  • #149
  • May 15, 2009 5:38am May 15, 2009 5:38am
Quoting nasir.khan
Yes you cannot put buy sell orders on the same pair but you can open two accounts buy in one and sell in other or open account outside USA.
I was told by my broker (Forex.com) that hedging is when you have two active opposite orders on the same pair. Example one EUR/USD long and one EUR/USD short open at the same time. Pending orders are not considered active. So as long as only one order is active and the other just pending it is allowed. Hope this makes sense.
  • #150
  • May 15, 2009 6:38am May 15, 2009 6:38am
Ace,

Sorry if I missed this earlier...

Are there circumstances in which we reenter new pending trades during the week if either our TP or SL has been filled?

Thanks.
  • #151
  • May 15, 2009 7:01am May 15, 2009 7:01am
I agree with Ace that a set and forget 50 pips is good, no modification necessary. We might only get under it on some bank holidays.

Quoting Bobcat2
Good recommendation. Thanks.

If we have a candle under 50 pips in size, would you avoid the trade altogether, or would you extend the boundaries equally on both the top and bottom of the box to equal 50 pips and then trade it?

Hopefully this won't even become an issue, but it would be good to have a method to deal with it if the circumstance presents itself.
  • #152
  • May 15, 2009 7:35am May 15, 2009 7:35am
Quoting adsanders
I was told by my broker (Forex.com) that hedging is when you have two active opposite orders on the same pair. Example one EUR/USD long and one EUR/USD short open at the same time. Pending orders are not considered active. So as long as only one order is active and the other just pending it is allowed. Hope this makes sense.
So that's what hedging means. I live up north in Canada and hedging was never allowed. It hasn't interfered with my system. The pending long and short orders that I place do not conflict with each other.

The long is closed off before short is activated and its the same the other way.
  • #153
  • May 17, 2009 7:47am May 17, 2009 7:47am
where i can download the 4h breakout indicator?

currently have asian bob...and cannot set to 4h for the whole weeks...

or somebody can share their templates?
  • #154
  • May 17, 2009 8:02pm May 17, 2009 8:02pm
I am setting this up on the GY, UY, CY, EY on demo this week to see how they all respond. It seems by backtracking this method it works best on any pair that matches with the JPY.

Love the simplicity of how it works..hope it is as profitable as it seems..
with good MM and sticking to the rules this could turn out very nice.

Thanks again for sharing..
  • #155
  • May 17, 2009 8:04pm May 17, 2009 8:04pm
Hi all...

I think this method is now in Play for this week...waiting for the trade..Breakout
  • #156
  • May 17, 2009 8:11pm May 17, 2009 8:11pm
Could you post some live statements from December?

Are you trading only at the break of the Lower line for short trades and only the High line for Long trades?
Starting to see instead of just looking.
  • #157
  • May 17, 2009 8:18pm May 17, 2009 8:18pm
Hi all..


I think he is trading the break of the 4hr Bar +-10pips...both short and long..
  • #158
  • May 17, 2009 8:21pm May 17, 2009 8:21pm
please log your entry and exit....see if we match.....system keeps telling me that sl and tp are invalid...thanks
  • #159
  • May 17, 2009 8:42pm May 17, 2009 8:42pm
buy limit....144.33
tp......145.31
sl.......143.17

is this correct?
  • #160
  • May 17, 2009 8:59pm May 17, 2009 8:59pm
Hi all...

I have a short entry of 143.10.. SL is 144.30
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