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4H Box Breakout

  • #561
  • Jun 21, 2009 8:11pm Jun 21, 2009 8:11pm
Quoting Ronald Raygun
You need to try out this button: http://www.forexfactory.com/images/misc/paperclip.gif (It's in the upper right corner).

As for my EA, you can find it here
Can you add some of the features that you included in your "Generic Breakout EA"?
  • #562
  • Jun 21, 2009 8:11pm Jun 21, 2009 8:11pm
Here's what im looking at.
Attached Image (click to enlarge)
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  • #563
  • Jun 21, 2009 8:12pm Jun 21, 2009 8:12pm
Hi Ace,

Thanks for all the work! Have read the whole thread but want to be sure. You are looking at a four hour box but when does it end? Would seem from your post that it was at 1:00GMT but that doesn't match anything I've read. What is the ending time of the four hour box in GMT?

Thanks,

Cactus
  • #564
  • Jun 21, 2009 8:13pm Jun 21, 2009 8:13pm
Quoting cactus
Hi Ace,

Thanks for all the work! Have read the whole thread but want to be sure. You are looking at a four hour box but when does it end? Would seem from your post that it was at 1:00GMT but that doesn't match anything I've read. What is the ending time of the four hour box in GMT?

Thanks,

Cactus
The box ended 13 mins ago
  • #565
  • Jun 21, 2009 8:26pm Jun 21, 2009 8:26pm
Thanks Ace,

I understand now that the four hour window ends at 1:00 GMT. I see from your chart that it corresponds to the four hour candle on FXDD that ends at 04:00 on their server. So for those not on FXDD we are looking at four hours beginning at 21:00 GMT and ending at 01:00 GMT.

Simple but important.
  • #566
  • Jun 21, 2009 9:19pm Jun 21, 2009 9:19pm
Geoff, your tp 300 what? Pips, dollars, ? Pretty bad results for the period you mention.
  • #567
  • Jun 21, 2009 9:28pm Jun 21, 2009 9:28pm
ACE OR ANYONE. To get around the rules at IBFX I am trading one way on the gbp/jpy and place the opposite order on the ey. 80 % correlation so it should cover me both ways. Thoughts?
  • #568
  • Jun 21, 2009 10:50pm Jun 21, 2009 10:50pm
Quoting pillager
Hi Ian,

can you please show your setting on a chart? Also when you write x1, x2 etc. do you mean box height times 1, 2 etc.? Please correct me if I am wrong, your 2nd and 3rd trades start away from the box and not at the breakout from the box. Am I getting it right?

Thanks.
Hi Pillager,

Will try to post a chart tonight, never done it before so no guarantees.
Yes, I just calculate: Trade opening price + (Candle High - Candle Low) for x1. Then just double and treble it for the x2 x3.

Also correct regarding the second and third trades, I back tested over eight weeks, making slight changes, and found that spacing the trades gave the best results over the week.

Hope this helps.
Ian.
  • #569
  • Jun 21, 2009 10:55pm Jun 21, 2009 10:55pm
Quoting lolpie
VonBek and geoffb65 (regarding your EA) this post is meant for you guys but I think everyone should know..

Just a heads up guys. For whose using MetaTrader, MT5 comes out in the fall and MT4 brokers will all eventually switch to MT5. The new "upgrade" is basically a huge fuckup that ruins MANY peoples' trading systems. Here is a pic explaining what I'm talking about:

As you can see, if you add orders, it basically consolidates them into 1 order so you can only ever have 1 order per pair. No more hedging, no more seperate trades.
Hi Lolpie,

I understand what your saying, but for now the way I trade works for me, I will delay upgrading for as long as I can, then I will have to see which way to trade after I have no choice but upgrade.

Thanks for the warning though.

Ian.
  • #570
  • Jun 21, 2009 10:59pm Jun 21, 2009 10:59pm
Quoting <br /> ;2818706
Ace,
A couple of hours ago you wrote that the 4h, 00:00 GMT Monday is forming.
Reading through most of these threads, I'm quite confused. Could you please clear this up once and for all for me.
Is the correct candle on which to base the box, the one that starts on Sunday at 20:00 GMT and ends at (midnight, ie: Sunday/Monday)) 00:00 GMT? Or is it the following candle that begins at (midnight, ie: Sunday/Monday) 00:00 GMT and ends at Monday 04:00 GMT.
Some have said the candle ending 00:00, others have said starting 00:00. It would...
Hi tarquin1,

NOt sure if this is right, but I use the candle that ends at 04:00 GMT. Works great for me, its also the first 4hr candle on my chart worth using, the Sunday candle although being 4hrs is always to small to use, due to poor movement over that period.

Hope this helps.
Ian.
  • #571
  • Jun 21, 2009 11:54pm Jun 21, 2009 11:54pm
Quoting FXLab
Can you add some of the features that you included in your "Generic Breakout EA"?

Like what?
  • #572
  • Jun 22, 2009 12:55am Jun 22, 2009 12:55am
Quoting VonBek
Hi tarquin1,

NOt sure if this is right, but I use the candle that ends at 04:00 GMT. Works great for me, its also the first 4hr candle on my chart worth using, the Sunday candle although being 4hrs is always to small to use, due to poor movement over that period.

Hope this helps.
Ian.
Find candle between 2100-2300GMT time...and suit with your broker time..
  • #573
  • Jun 22, 2009 3:00am Jun 22, 2009 3:00am
Quoting rapidfx
Find candle between 2100-2300GMT time...and suit with your broker time..
Just realised the time on the chart is broker time.

The candle I use is:

00:00 : 04:00 Broker Time
23:00 : 03:00 BST
22:00 : 02:00 GMT

I can't use the candle prior to this as it only covers 1hr, even though it's a 4hr chart.

Ian.
  • #574
  • Jun 22, 2009 3:17am Jun 22, 2009 3:17am
Hi all,

Well as my truck has broken down, I thought I would take the time to post the trades I have placed today, see how they compare with other people.

Candle: High 158.85 Low 157.68

Buy 1: 159.15 SL 157.68 TP 160.32 TS 58
Buy 2: 159.45 SL 157.98 TP 161.79 TS 117
Buy 3: 159.75 SL 158.28 TP 163.26 TS 175

Sell 1: 157.38 SL 158.85 TP 156.21 TS 58
Sell 2: 157.08 SL 158.55 TP 154.74 TS 117
Sell 3: 156.78 SL 158.25 TP 153.27 TS 175

Cheers
Ian.
  • #575
  • Jun 22, 2009 4:16am Jun 22, 2009 4:16am
Short @ 157.82
Stop @ 159.10
Target @ 152.70
Regards
  • #576
  • Jun 22, 2009 4:41am Jun 22, 2009 4:41am
Quoting Ronald Raygun
Like what?
The features that would be helpful are:

1) Use percentage of range stop loss
2) Use percentage of range take profit
3) Use max range
4) Max trades per week
5) Max long trades
6) Max short trades

It would also be nice to include the "buffer" in the designated range.
  • #577
  • Jun 22, 2009 4:52am Jun 22, 2009 4:52am
Quoting VonBek
Hi all,

Well as my truck has broken down, I thought I would take the time to post the trades I have placed today, see how they compare with other people.

Candle: High 158.85 Low 157.68

Buy 1: 159.15 SL 157.68 TP 160.32 TS 58
Buy 2: 159.45 SL 157.98 TP 161.79 TS 117
Buy 3: 159.75 SL 158.28 TP 163.26 TS 175

Sell 1: 157.38 SL 158.85 TP 156.21 TS 58
Sell 2: 157.08 SL 158.55 TP 154.74 TS 117
Sell 3: 156.78 SL 158.25 TP 153.27 TS 175

Cheers
Ian.
Ian,

Thank you for clarifyng your setup. Please keep us posted on your results this week.
  • #578
  • Jun 22, 2009 10:29am Jun 22, 2009 10:29am
Lower boundary triggered earlier. Here's an updated chart
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  • #579
  • Jun 22, 2009 10:38am Jun 22, 2009 10:38am
Mine
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  • #580
  • Jun 22, 2009 1:42pm Jun 22, 2009 1:42pm
Quoting VonBek
Hi all,

Well as my truck has broken down, I thought I would take the time to post the trades I have placed today, see how they compare with other people.

Candle: High 158.85 Low 157.68

Buy 1: 159.15 SL 157.68 TP 160.32 TS 58
Buy 2: 159.45 SL 157.98 TP 161.79 TS 117
Buy 3: 159.75 SL 158.28 TP 163.26 TS 175

Sell 1: 157.38 SL 158.85 TP 156.21 TS 58
Sell 2: 157.08 SL 158.55 TP 154.74 TS 117
Sell 3: 156.78 SL 158.25 TP 153.27 TS 175

Cheers
Ian.
Hi All,

Well while I was sitting in a lay by for 9 hours waiting for my truck to be fixed, I did some more playing about with my set up. There have been a few people commenting on needing to take into account the trends etc.

Having looked at my trades, and past prices for the GBPJPY, I tend to agree, the bias at the moment has to be towards Long trades, Short trades are less likely to hit the TP targets.

What do other people feel about this ?

I have made a change to my spreadsheet which I use to calculate the prices for me, and have adjusted my Short trades for today, they are now as follows:

Short1: SL 158.85 TP 156.80 TS 29 - This trade has already hit TP.
Short2: SL 158.55 TP 155.91 TS 58 - This trade is now BE+4
Short3: SL 158.25 TP 154.44 TS 117

I am going to keep an eye on my previous settings for these trades, just to see what differance it makes.

Cheers
Ian.
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