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4H Box Breakout

  • #281
  • May 25, 2009 8:20pm May 25, 2009 8:20pm
Quoting Bobcat2
Me,too!
Bob, I got your pm and I responded. Check your pm.
  • #282
  • May 26, 2009 3:11am May 26, 2009 3:11am
So both trades were stopped out. This is the my first live trade with this system. Anyway, have fun for the rest of the week, and look forward to next monday
  • #283
  • May 30, 2009 1:11am May 30, 2009 1:11am
I also had the two lossing trades. I keep trading and got on the third trade and got 300 pips so i am up 150 pips for the week so i call that quite nice....
  • #284
  • May 30, 2009 1:19am May 30, 2009 1:19am
Don't give up guys!! I trade this same type of system on GBP/USD and I've gotten 22 losers and only 6 winners this year, but I'm still up over 900 pips!

You gotta learn to put the losers behind you and move on with a system like this. It is profitable in the long run...
  • #285
  • May 30, 2009 1:46am May 30, 2009 1:46am
Quoting Phil
Don't give up guys!! I trade this same type of system on GBP/USD and I've gotten 22 losers and only 6 winners this year, but I'm still up over 900 pips!

You gotta learn to put the losers behind you and move on with a system like this. It is profitable in the long run...


I can't agree more just don't give up guys. This is a system that you will see some losers o wait that is any system but with this one there is not that many. I have looked back and tested this and it is a good system and i thank you for it.
  • #286
  • May 30, 2009 7:38pm May 30, 2009 7:38pm
Quoting Hiranya
I can't agree more just don't give up guys. This is a system that you will see some losers o wait that is any system but with this one there is not that many. I have looked back and tested this and it is a good system and i thank you for it.

Glad to see the feedback from everyone thus far
  • #287
  • May 31, 2009 5:42pm May 31, 2009 5:42pm
Hi Ace284,


This Forex system looks almost too good to be true ...
do you have a template available so that I can set up
my charts to look as cool as the example in your 1st
post ..?

Even my wife, who knows nothing about Forex,
thinks this looks like a winner based on a look
at some of the JPY pairs on a 4H chart ...

Thank you for making this available ....



Best Regards,

colder99
  • #288
  • May 31, 2009 6:13pm May 31, 2009 6:13pm
Your wife said that colder99 that is awesome?? Well you have a very smart wife because this is a great system..

I did have one question and that is. What do we do if we have bank holidays? i just looked at the calender and seen that there is German and French bank holidays until Tuesday. So i wanted to know if you still put you trades in or do you wait until say Tuesday morning?
  • #289
  • May 31, 2009 6:27pm May 31, 2009 6:27pm
Quoting Hiranya
Your wife said that colder99 that is awesome?? Well you have a very smart wife because this is a great system..

I did have one question and that is. What do we do if we have bank holidays? i just looked at the calender and seen that there is German and French bank holidays until Tuesday. So i wanted to know if you still put you trades in or do you wait until say Tuesday morning?
I would say trade, Forex is worldwide and not limited to one country. Just my opinion.
  • #290
  • May 31, 2009 6:36pm May 31, 2009 6:36pm
Did anyone make a box for this system yet?
  • #291
  • May 31, 2009 6:49pm May 31, 2009 6:49pm
Phil, in your system you said you use the high and low of "the Sunday candle." What exact time GMT or EST is the Sunday candle that you use?

Quoting Phil
Don't give up guys!! I trade this same type of system on GBP/USD and I've gotten 22 losers and only 6 winners this year, but I'm still up over 900 pips!

You gotta learn to put the losers behind you and move on with a system like this. It is profitable in the long run...
  • #292
  • May 31, 2009 6:56pm May 31, 2009 6:56pm
Quoting Hiranya
Your wife said that colder99 that is awesome?? Well you have a very smart wife because this is a great system..

I did have one question and that is. What do we do if we have bank holidays? i just looked at the calender and seen that there is German and French bank holidays until Tuesday. So i wanted to know if you still put you trades in or do you wait until say Tuesday morning?
Even up to this point I still have trouble deciding whether to trade when there is a bank holiday right at the start of the week. They can be a problem because of liquidity. Deutsche Bank(German Bank) control about 20% of liquidity and UBS AG(Swiss Bank) controls about 15%. Unfortunately both banks are on holiday at the start of this week. This system does require volume after the resistance is broken.
Plus last week there was some false breakouts because GBP and US banks were on holidays at the start.

I'm still going to trade but im going to risk less because of the conditions.
  • #293
  • May 31, 2009 6:57pm May 31, 2009 6:57pm
Quoting Dreamliner
Did anyone make a box for this system yet?
As of now the box shouldn't have formed completely, still an hour to go
  • #294
  • May 31, 2009 7:01pm May 31, 2009 7:01pm
Quoting Ace284
As of now the box shouldn't have formed completely, still an hour to go
Yes, sorry I wasn't clearer, what I mean was, has anyone made a box indicator for this system?
  • #295
  • May 31, 2009 7:05pm May 31, 2009 7:05pm
Hi Ace,

Just another of the many confirmation question of the 1st 4hr candle.

Your 1st 4hr candle is from 5pm EDT to 9pm EDT, correct?

BD
  • #296
  • Edited 7:38pm May 31, 2009 7:20pm | Edited 7:38pm
Quoting Dreamliner
Yes, sorry I wasn't clearer, what I mean was, has anyone made a box indicator for this system?
Not yet. There was an indicator made called MondayH4Box. Its here on the forum and its easy to backtest with it. But it doesn't include the spread which is important.

Any programmers willing to do that not that its really required.
  • #297
  • May 31, 2009 7:28pm May 31, 2009 7:28pm
Quoting BarneyDog
Hi Ace,

Just another of the many confirmation question of the 1st 4hr candle.

Your 1st 4hr candle is from 5pm EDT to 9pm EDT, correct?

BD
Correct.
  • #298
  • May 31, 2009 7:59pm May 31, 2009 7:59pm
Thanks B2.

If my broker does not have a 5pm-6pm EDT candle,
then would I use 6pm EDT to 9pm EDT
or 6pm EDT to 10pm EDT?

BD
  • #299
  • May 31, 2009 8:02pm May 31, 2009 8:02pm
Candle formed
  • #300
  • May 31, 2009 8:47pm May 31, 2009 8:47pm
Quoting Ace284
Candle formed

Sounds to me like FXDD works just fine
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