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4H Box Breakout

  • #261
  • May 24, 2009 11:50pm May 24, 2009 11:50pm
Quoting K7420
wow you're whistling in this losing trade I'm amazed!
I'm still DEMO on this specific strategy.... LIVE, I'm in a trade that's giving me so far 1% locked... not bad for a sunday night (which I must say I don't usually trade...)....

Cheers!
Many share my views with me. But I don't share them with them...
  • #262
  • May 25, 2009 12:05am May 25, 2009 12:05am
I'm in long on USDJPY, GBPJPY, and NZDUSD
Live account IBFX
  • #263
  • May 25, 2009 12:10am May 25, 2009 12:10am
Quoting mitchp
I'm in long on USDJPY, GBPJPY, and NZDUSD
Live account IBFX
long but why? this isn't what this strategy is telling us to do.
Failure is the mother of success: learn from 'her'
  • #264
  • May 25, 2009 12:19am May 25, 2009 12:19am
Quoting K7420
long but why? this isn't what this strategy is telling us to do.
All three hit my targets for long positions and are now +$110
  • #265
  • May 25, 2009 12:23am May 25, 2009 12:23am
I think this is exactly what the strategy call for - correct me if I'm wrong.
Attached Image (click to enlarge)
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  • #266
  • May 25, 2009 12:25am May 25, 2009 12:25am
hi all...

Hope this current move was economic based...and not war based...as Nth Korea seems to be letting off Nukes again....
Think we may get caught in a reversal...time will tell...on the long I mean...those short already coped that....



mitchp......if your not trading this method....well you know...
  • #267
  • May 25, 2009 12:30am May 25, 2009 12:30am
Quoting Angler
hi all...

Hope this current move was economic based...and not war based...as Nth Korea seems to be letting off Nukes again....
Think we may get caught in a reversal...time will tell...on the long I mean...those short already coped that....



mitchp......if your not trading this method....well you know...
Please someone fill me in why I'mnot trading this strategy correctly. Look at the chart I posted based upon the the indicator posed in this thread. I'm lost by your comment. I know it's late and I may be tired but someone please fill me in.

Mitch
  • #268
  • May 25, 2009 12:30am May 25, 2009 12:30am
Hi all...

mitchp......no targets would have been hit using this method...


What are your target levels...?
  • #269
  • May 25, 2009 12:33am May 25, 2009 12:33am
Quoting Angler
hi all...

Hope this current move was economic based...and not war based...as Nth Korea seems to be letting off Nukes again....
Think we may get caught in a reversal...time will tell...on the long I mean...those short already coped that....



mitchp......if your not trading this method....well you know...
http://www.bloomberg.com/apps/news?p...O8A&refer=home

Definitely a war based And since the London and NY markets will be closed today, the market could be quite crazy!!!!
  • #270
  • May 25, 2009 12:37am May 25, 2009 12:37am
hi all...


mitchp......well not taking different brokers into account...the first 4hr Bar was about 100 pips wide...give or take a few pips...so the targets would be at least 100 pips away from either the high or low...This is the basic idea...without any pips buffer and such....

So the price has not moved that far from either end..
  • #271
  • May 25, 2009 12:38am May 25, 2009 12:38am
Quoting Angler
Hi all...

mitchp......no targets would have been hit using this method...


What are your target levels...?
Once again I say look at the chart I posted. Can you be more exact in advising what I did wrong. The high and low levels where set by the first 4 hr candle. The second 4 hr candle surpased the high by more than 10 pips and initiated the buy. Right now on my chart it's at 1x.

Mitch
  • #272
  • May 25, 2009 12:41am May 25, 2009 12:41am
Here is my USDJPY chart
Attached Image (click to enlarge)
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  • #273
  • May 25, 2009 12:46am May 25, 2009 12:46am
hi all...


Not sure what you have done...

but on a break of the levels....if you break the upper level you go long.. and a short if you break the lower level

OOOOOH....looking at your chart...you may not be getting the Sunday trading...
  • #274
  • May 25, 2009 12:53am May 25, 2009 12:53am
Quoting Angler
hi all...


Not sure what you have done...

but on a break of the levels....if you break the upper level you go long.. and a short if you break the lower level
Angler, no disrespect but that is exactly what I did! On GBPJPY the candle broke my upper level so I placed a buy order. It is now up over 50 pips! I think the problem is on my broker, IBFX, the spread for the first candle was only 65 pips. The second candle has already hit 120 pips from high to low.

Mitch
  • #275
  • May 25, 2009 1:02am May 25, 2009 1:02am
hi all...


Yeah I added a line to my previous post....

But nothing like 50pips in profit on my charts....

its all in the charts and what time they start...can get messy

and a little disrespect never hurt anyone...haha
  • #276
  • May 25, 2009 1:27am May 25, 2009 1:27am
Quoting mitchp
Angler, no disrespect but that is exactly what I did! On GBPJPY the candle broke my upper level so I placed a buy order. It is now up over 50 pips! I think the problem is on my broker, IBFX, the spread for the first candle was only 65 pips. The second candle has already hit 120 pips from high to low.

Mitch
I use IBFX also and I see what's happened. You're using Monday's 00:00 candle, not Sunday's 20:00 candle.

It probably won't make a difference in the long run if you trade it that way, but that's why your results are different than everyone else's.

Looks like it worked out well for you this week!
  • #277
  • May 25, 2009 2:26am May 25, 2009 2:26am
Quoting Phil
I use IBFX also and I see what's happened. You're using Monday's 00:00 candle, not Sunday's 20:00 candle.

It probably won't make a difference in the long run if you trade it that way, but that's why your results are different than everyone else's.

Looks like it worked out well for you this week!
Ok, I see what you mean, thanks for the clarification!
  • #278
  • May 25, 2009 7:47am May 25, 2009 7:47am
You did right. I did exactly the same

A.
  • #279
  • May 25, 2009 8:59am May 25, 2009 8:59am
different broker, different time of their chart opening hours....
what ever it is..this method is using 0:00hr candle on your chart (monday)
break high or low of 0:00hr candle. you can find it easily on your 4hr tf chart...
  • #280
  • May 25, 2009 6:16pm May 25, 2009 6:16pm
Hi all...

As mentioned earlier.....it may be the 0:00 Bar on the charts.....but that bar may not have the same range as other charts that pick up the earlier Sunday trading also...

This means a possibly smaller 0:00 Bar and thus the much better chance that a small early swing in price will get you into a lossing trade...this happens anyway with the wider range...but guessing much easier on the small range.......

But maybe to compensate for this, your stop is a lot closer on that possible swing triggered trade.
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