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Box Breakout indicator 195 replies
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DislikedThanks for the kind words, but it's really the system that deserves the kudos. All I did was pull the trigger and hold on for the ride. But what a ride it was . . . I've been trading 8 years and never came close to duplicating this week's results.Ignored
DislikedI know some of you are kicking yourselves because you took out profits at 2x or so because of the long term support was around there. Keep in mind that when this system was tested, no support/resistance levels were taken into account. But it was very profitable. If you do see a very significant support/resistance (Daily) decrease your position but don't close the entire order. I say this because basic resistance can act in two ways, either it could break and head the other way, or bounce off and continue its path. We really can't tell which way...Ignored
DislikedGreat results - can I ask what tp4 would have been.
So are these the figures you are going to run with now - using a 70 sl even though the size of the box may be bigger?Ignored
DislikedHi, I just wanted to say that this system looks impressive. I did some backtesting with different parameters and I was most successful using tp3. Another thing that increased the pip count substantially was taking a third trade if the first two got stopped out. Using this method backtesting for 2009 till now I was up around 7400 pips. I only had 3 losers out of a possible 27 trades.Ignored
DislikedPair: 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 pipsIgnored
Dislikedbasically what I am saying is that if you get stopped out on the long position and the short position and price goes long again you would be getting back in with a second long position with target being tp3. If the target is reached you basically are 3 for 5 for the week. Let me clarify the wins as well. I only had three losing weeks out of a possible 27 weeks. Some of those weeks I consider winners but you would have lost the first two (the long and short positions) and won the third trade. So profits for those weeks when the third trade reached...Ignored
Dislikedjtrade,
so according to your test of the last year it would be best to enter next week 1 pip above or below the first 4H candle with a stop loss of 70 pips and if up by 40 pips to follow with a 90 pip trailing stop............
so no TP, just let it run with the TSL.
correct?
thank you for sharing the test results.Ignored
DislikedUnfortunately, not quite : my backtests only tell me what was a very tradeable parameter set. What would be best in the future cannot be known. Consider also that the time filters I imposed severely restricted and reduced entries and especially reversal entries - look at 11andy11's posts above. No third trade with my parameters, sometimes for the worse.
I agree with an earlier poster that the biggest profits will come from holding out for the few really huge trades, but psychologically this is VERY hard - impossible,...Ignored