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4H Box Breakout

  • #1,101
  • Jul 20, 2009 3:13am Jul 20, 2009 3:13am
Guys.

I have 2.5 lots long at about 100 pips profit. I have SL moved to BE and I am looking at trailing SL at 100.

Price has moved seriously past the 61.8 fib retracement and I am expecting more positive movement.

I am going to bed soon but I am now at BE so I have NO RISK.

NO RISK, is my point here. If I lose by not gaining on the upside, so be it. I cannot, NOW, lose on the downside. That is key in my estimation.

If the current market goes down past my BE, I will lose nothing but if it comes back up my Pending Long ordrer wll kick back in and keep me in the positive trend profit.

If it keeps going down, I have lost NOTHING.

Dave R.
  • #1,102
  • Jul 20, 2009 3:23am Jul 20, 2009 3:23am
Been trailing at 100 pips the moment I got in.

Now the true test comes.. like playing chicken. Who has the guts to hold!
  • #1,103
  • Jul 20, 2009 3:27am Jul 20, 2009 3:27am
Quoting Tranell
Been trailing at 100 pips the moment I got in.

Now the true test comes.. like playing chicken. Who has the guts to hold!
Once you are BE, guts don't really count.

dr
  • #1,104
  • Jul 20, 2009 3:42am Jul 20, 2009 3:42am
Oh sorry I didn't get your meaning in the last message.

So far I am just trading the very original method (Ace's method) with no trailing SL. The trade today just closed for 3% (1700usd) account growth.

I look forward to the trailing stop re-entry version but more backtest might be needed.

Wish you ever success!!!

Quoting droland
I guess you haven't been reading my ideas. Simply stating, YOU DO NOT NEED TO SET A TP. If you run the Trailing SL and re-entry Pending order, I do not set TP. SL is the key. TP is whatever the run will give you.

dr
  • #1,105
  • Jul 20, 2009 3:48am Jul 20, 2009 3:48am
just checked the chart. I set TP1.5 at 156.35. The price just move above it for 2 pips (156.37) and retaced...

this is pure luck...

Quoting dannywmk
Oh sorry I didn't get your meaning in the last message.

So far I am just trading the very original method (Ace's method) with no trailing SL. The trade today just closed for 3% (1700usd) account growth.

I look forward to the trailing stop re-entry version but more backtest might be needed.

Wish you ever success!!!
  • #1,106
  • Jul 20, 2009 4:01am Jul 20, 2009 4:01am
Closed one position in G/J with 114 pips profit. moved SL to BE for other position. This is now a no risk trade.
Trading is SIMPLE not EASY.
  • #1,107
  • Jul 20, 2009 4:07am Jul 20, 2009 4:07am
droland
if u get stoped put at BE . where u have the reentry long ??
thanks

Quoting droland
Guys.

I have 2.5 lots long at about 100 pips profit....
  • #1,108
  • Jul 20, 2009 6:05am Jul 20, 2009 6:05am
hello.

i set my ea on Sunday nite and used day start as 1

since then the ea is saying " no order triggerd"

please is any using it what have i done wrong here

please help.
  • #1,109
  • Jul 20, 2009 6:12am Jul 20, 2009 6:12am
i am waiting for my tp1 for gbp/usd @ 156.52. currently riding on 100pips+

go for it baby!!
trade safe
  • #1,110
  • Jul 20, 2009 6:42am Jul 20, 2009 6:42am
Quoting droland
I know I am hammering this but most of us have gone LONG right at a huge resistance point. If your SL is the standard box, it is about 140 to 150 pips. You need to watch closely until the Resistance of 155.15 is breached substantially or you could well be looking at a 150 pip loss. By substantially, I would mean about 100 pips for GBpJPY

For me, if it hits 50 pips plus, I will go to BE and if it goes 50 below entry, I will close and put in a new Pending Long at the SL close to minimize my loss to a maximum 50 pips.

Just my thinking right now....
I think price broke through the resistance point. We're above 200 ema and seeing 4 higher highs. Of course GBPJPY is a crazy pair and I've been wrong before
  • #1,111
  • Edited 7:40am Jul 20, 2009 7:27am | Edited 7:40am
Quoting kinteseay
I noticed an error in the code for the short orders when using the box size as stop loss and tp. Looks like some of the code for the buy was copied but not modified. I'm not at home now so I can't quote the exact line. But after changing it, it ran fine.

I would, however, like to see a max number of trades in a week, if possible.
Added max# of trades in 1 week (counting trades from the day you use as your "start day")

extern int MaxTradesPerWeek = 10; The maximum amount of trades allowed in one week, starting from the day defined in the "StartDay" variable.
extern int MaxLongsPerWeek = 8; The maximum amount of long trades allowed in one week, starting from the day defined in the "StartDay" variable.
extern int MaxShortsPerWeek = 8; The maximum amount of short trades allowed in one week, starting from the day defined in the "StartDay" variable.

Keep in mind that the sum of MaxLongsPerWeek and MaxShortsPerWeek do not have to equal MaxTradesPerWeek. You can set any of those three settings to 0 in order to disable them.

Fixed the SL/TP code.

[Edit] It'd be nice to attach the EA =P
Attached File(s)
File Type: mq4 4H Weekly Box Breakout.mq4   17 KB | 659 downloads
  • #1,112
  • Jul 20, 2009 8:21am Jul 20, 2009 8:21am
helllo,

pls is any using the ea i need your settings that was used for the ea to place trade. please help am using Alpari.co.uk and the ea is 4Hour Weekly box breakout Droland.

Thanks
  • #1,113
  • Jul 20, 2009 8:36am Jul 20, 2009 8:36am
Quoting afoson
helllo,

pls is any using the ea i need your settings that was used for the ea to place trade. please help am using Alpari.co.uk and the ea is 4Hour Weekly box breakout Droland.

Thanks
Set the lot size to anything other than 0, and run a backtest. Does it work?
(I'm writing the code in notepad, so I'm sure there are errors).
  • #1,114
  • Jul 20, 2009 8:53am Jul 20, 2009 8:53am
I cant back test since I have IBFX and the week starts at the wrong time. But maybe someone here can check this out. Seems the price initially runs at least 100 pips past box entry point before retracing. If one set a target at 100, how many times would it hit?
  • #1,115
  • Jul 20, 2009 9:00am Jul 20, 2009 9:00am
Quoting davewooldrid
I cant back test since I have IBFX and the week starts at the wrong time. But maybe someone here can check this out. Seems the price initially runs at least 100 pips past box entry point before retracing. If one set a target at 100, how many times would it hit?
Open a FXDD demo (fxdd.com) account and you will be able to get your answer. I just opened a demo and this weeks trade went to 130+/- (depends on your break out buffer) before retrace.
  • #1,116
  • Jul 20, 2009 9:08am Jul 20, 2009 9:08am
hello,

thanks for your responds i have attached the robot no trade placed on the sell stop since the buy has been trigred, does that mean i wait till next week?

Thanks
God bless
  • #1,117
  • Jul 20, 2009 9:10am Jul 20, 2009 9:10am
Did anyone take long trade on the GBP/USD last night ? I took profits at 2X for 100 PIP win ?



EZ
" Master Your Set-Up , Master Yourself "
  • #1,118
  • Jul 20, 2009 9:16am Jul 20, 2009 9:16am
Ronald,

I am not getting any lines on v2 or v3 and v2 didn't take a trade last night any ideas?

RickyD
  • #1,119
  • Jul 20, 2009 9:18am Jul 20, 2009 9:18am
Quoting RickyD
Ronald,

I am not getting any lines on v2 or v3 and v2 didn't take a trade last night any ideas?

RickyD
Which EA? No lines means the EA is still in "range-finding" mode, which means that the range is still being established.

I'm guessing it never could find the range as there was no trade, or trade attempt, right?
  • #1,120
  • Jul 20, 2009 10:08am Jul 20, 2009 10:08am
DRoland,

I was stopped out at just under 100 pips and am very happy with the profit Thanks Ace ! . When I looked at the chart I saw we were at R3 and decided to not place the new pending long order.
Price has tried to breech this level several times and bounced off.

Just curious if you placed your pending long trade? I'm wondering if we won't see a reversal here. Relative Streng of JPY seems to be increasing.

Thanks,
Sandy
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