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4H Box Breakout

  • #781
  • Jul 6, 2009 12:44am Jul 6, 2009 12:44am
Quoting fewhills
Pair: GBPJPY
Broker for determining price etc: demo account IBFX
Time Frame to determine price: H1. Bars: 4 x H1
Time range between 23:00 GMT Sunday Bar Open and 02:00 GMT Monday Bar Close.
Highest Price: 156.430
Lowest Price: 154.868
Buffer: 21 pips
Break Out High: 156.43 + 21 + 9 spread = 156.73
Break Out Low: 154.87 - 21 = 154.66
Diff without spread: 198 pips
TP for GJ 2x rite ace? So 198 x 2 = 396
  • #782
  • Jul 6, 2009 7:38am Jul 6, 2009 7:38am
Using slightly different parameters (smaller box) with 2 separate pending trades, I woke up with 253 pips proft from last night.

Thanks, Ace!
  • #783
  • Edited 9:07am Jul 6, 2009 8:19am | Edited 9:07am
This week so far

I just removed the TPs after taking the screen
Attached Image (click to enlarge)
Click to Enlarge Name: s.gif Size: 61 KB
  • #784
  • Jul 6, 2009 8:34am Jul 6, 2009 8:34am
just wondering if there is a way to use options with this strategy. I believe only options using usd pairs are available.
  • #785
  • Jul 6, 2009 8:42am Jul 6, 2009 8:42am
Why not set a simple option straddle? Try to acquire the options so that a smallish move in either direction breaks even. (maybe 50 pips)
  • #786
  • Jul 6, 2009 9:41am Jul 6, 2009 9:41am
So, I was wondering...has anyone tested or is using that ATR indictator posted a bunch of posts back, that basically makes a dynamic breakout box at start of week ?
This week its box was smaller then the original systems box, which is interesting its usually larger.
  • #787
  • Jul 6, 2009 11:27am Jul 6, 2009 11:27am
Quoting GenTarkin
So, I was wondering...has anyone tested or is using that ATR indictator posted a bunch of posts back, that basically makes a dynamic breakout box at start of week ?
This week its box was smaller then the original systems box, which is interesting its usually larger.
I have just started using it. No backtest, but I am familiar with volatility breakout methods. I do not think it is "usually larger" when you include the original buffer zone. My guess is that the methods will produce very similar results over time.

I just prefer the dynamic nature of using ATR. However I intend to backtest variations on the theme within Tradestation - posted some code questions on the TS forum this morning (as I am only a "cut & paste" programmer).
  • #788
  • Jul 6, 2009 12:37pm Jul 6, 2009 12:37pm
Quoting jtrade
I have just started using it. No backtest, but I am familiar with volatility breakout methods. I do not think it is "usually larger" when you include the original buffer zone. My guess is that the methods will produce very similar results over time.

I just prefer the dynamic nature of using ATR. However I intend to backtest variations on the theme within Tradestation - posted some code questions on the TS forum this morning (as I am only a "cut & paste" programmer).

Do you know how this ATR indicator works and derives its numbers?
  • #789
  • Jul 6, 2009 2:31pm Jul 6, 2009 2:31pm
http://en.wikipedia.org/wiki/Average_True_Range

http://www.meta-formula.com/average-true-range.html
  • #790
  • Jul 6, 2009 3:01pm Jul 6, 2009 3:01pm
Quoting yen44x
Siam,

How in the world are you? Wow, with you and RR checking in, it's like being in the land of "Oz" again.

Yes, I'm still a regular at the watering hole. But, with a weekly system like this, I have a lot of time on my hands. I was thinking of looking for a new watering hole there in Thailand. Any suggestions?

And, of course, I'd need a place to stay. Any chance me and the 17 burros could bunk with you for a week or two?

Yen - YOU"RE ALIVE!! I thought you had left us for good.

Good to see ya back!

T4K
  • #791
  • Jul 6, 2009 3:02pm Jul 6, 2009 3:02pm
Ronald, First thanks for your work on your expert it is well done and gives lots of choices. One question would it enter a second trade if it drops below and then up above the entry trigger or is it set to only have one trade open at a time? Thanks again for a job well done.

RickyD, old time trader
  • #792
  • Jul 6, 2009 3:10pm Jul 6, 2009 3:10pm
Quoting Ronald Raygun
http://en.wikipedia.org/wiki/Average_True_Range

http://www.meta-formula.com/average-true-range.html
thanks for that ronald, didnt even know the ATR meant average true range.
So, this is something tried and true and works alongside ace's method fairly well, I assume...
  • #793
  • Jul 6, 2009 3:15pm Jul 6, 2009 3:15pm
Quoting RickyD
Ronald, First thanks for your work on your expert it is well done and gives lots of choices. One question would it enter a second trade if it drops below and then up above the entry trigger or is it set to only have one trade open at a time? Thanks again for a job well done.

RickyD, old time trader
Should be one trade open at any one time.

Quoting GenTarkin
thanks for that ronald, didnt even know the ATR meant average true range.
So, this is something tried and true and works alongside ace's method fairly well, I assume...

ATR is wisely used, haven't tried it for this system.
  • #794
  • Jul 6, 2009 4:11pm Jul 6, 2009 4:11pm
Here is a little update on the latest NFA ruling. I contacted IBFX (who I use), and this is basically what they told me:

Hedging - open two accounts. They have a different MT4 program that you can use to manage more than open account.

The next change is the FIFO (first in first out) rule. This means the first trade in needs to be the first trade closed if you have more than one trade on the same currency and with the same lot size. The key here is the lot size. If you are going to add on to a trade and want to use Stops, you can still do this but you have to change the lot size. If you have a 1.0 lot trade on, the rest of the trades on that currency pair need to have a different lot size i.e. 1.0 lot, 1.01 lot, 1.2 lot, 1.02 lot, etc. As long as the lot size is different you can use the stop loss principle.

It is a simple adjustment but solves a big problem. IBFX said they will be sending information out shortly.

ps. I also use Oanda - I contacted them also, and was told that nothing will change!!
  • #795
  • Jul 6, 2009 7:39pm Jul 6, 2009 7:39pm
Ronald,
My expert on the 5 digit chart closed a trade at 10 pips set at 100 does that mean the correction of 5 digit is not working? I changed it to 1000 to see if it does it again to make sure.

Thanks,
RickyD
  • #796
  • Jul 6, 2009 9:03pm Jul 6, 2009 9:03pm
Quoting RickyD
Ronald,
My expert on the 5 digit chart closed a trade at 10 pips set at 100 does that mean the correction of 5 digit is not working? I changed it to 1000 to see if it does it again to make sure.

Thanks,
RickyD
The EA was never designed to correct for 5 digits. I personally use the fractional digits to stay within my risk ranges.
  • #797
  • Jul 6, 2009 9:40pm Jul 6, 2009 9:40pm
What was your set up?

Thanks,

FX_California
Quoting Bobcat2
Using slightly different parameters (smaller box) with 2 separate pending trades, I woke up with 253 pips proft from last night.

Thanks, Ace!
  • #798
  • Jul 6, 2009 10:54pm Jul 6, 2009 10:54pm
Quoting tim4kaye
Yen - YOU"RE ALIVE!! I thought you had left us for good.

Good to see ya back!

T4K
Hello old friend! It was a little tough escaping the asylum, but, yes, I'm alive and kickin'.

How's life in the Deep South?
Greetings from Guanajuato, Mexico
  • #799
  • Jul 7, 2009 6:57am Jul 7, 2009 6:57am
Quoting yen44x
Hello old friend! It was a little tough escaping the asylum, but, yes, I'm alive and kickin'.

How's life in the Deep South?
Life is good here in the Deep South. How is life in the Deeper South?

Are you still using the same email address as you had before? I still have you in my address book, just waiting your return.

T4K
  • #800
  • Jul 7, 2009 7:23am Jul 7, 2009 7:23am
Quoting tim4kaye
Life is good here in the Deep South. How is life in the Deeper South?

Are you still using the same email address as you had before? I still have you in my address book, just waiting your return.

T4K
As we say here in the Deeper South, life is "muy bien, y'all".

The e-mail address is still good . . . shoot me a line!
Greetings from Guanajuato, Mexico
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