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4H Box Breakout

  • #1,141
  • Jul 20, 2009 8:37pm Jul 20, 2009 8:37pm
Quoting droland
OK, at 155.94. Move to BE at 155.10.

PDT 12.29

dr

DR - I am currently out at BE and sitting on the sidelines waiting on the next move (up or down)...how about you?

W.
  • #1,142
  • Jul 20, 2009 8:54pm Jul 20, 2009 8:54pm
Quoting wrenski
DR - I am currently out at BE and sitting on the sidelines waiting on the next move (up or down)...how about you?

W.
I'm out at BE too. Of course it would have been nice to bank some pips but I'm in this method for the bigger moves so BE is ok with me. Now we wait for the next breakout...
  • #1,143
  • Jul 20, 2009 9:33pm Jul 20, 2009 9:33pm
I was having a look at droland`s system for the week 15-19 June 2009 manually:
if up by 50 pips, move to BE and a 100 pip TSL - if stopped out place a stop order in the same direction 25 pips from the stop price and move stop order to stop price if price moved 50 pips away with a 50 pip SL and a 100 pip TSL

Ace with 1 trade had 523 pips for that week
Droland with 10 trades had 278 pips for that week.

My guess is that Droland`s system will drop pips in a directional week but wont lose (that much?) when Ace has 1 or 2 stop losses.
Aces` system requires minimal maintenance.

I will look at some more weeks
  • #1,144
  • Jul 20, 2009 10:11pm Jul 20, 2009 10:11pm
Ace,
are u move ur SL to BE as well or still use original SL. Now price reversed..maybe we'e floating -ve.
  • #1,145
  • Jul 20, 2009 10:32pm Jul 20, 2009 10:32pm
Banked a total of 179 pips from G/J. There is a very strong Resistance at around 156.30 area. Don't think it is going to breach that in a hurry. Mostly like a reversal if 154.50 level is breached, otherwise side way movement between 156.30 and 154.50.

Cheers
Trading is SIMPLE not EASY.
  • #1,146
  • Jul 20, 2009 10:47pm Jul 20, 2009 10:47pm
Quoting markfx
I'm out at BE too. Of course it would have been nice to bank some pips but I'm in this method for the bigger moves so BE is ok with me. Now we wait for the next breakout...
HI Guys. Sorry, I got tied up. I am out at BE as well. I have put a Pending about 25 pips above the original Pending Long Order. Will move it down depending on what happens the next few hours.
  • #1,147
  • Jul 20, 2009 10:56pm Jul 20, 2009 10:56pm
Quoting rapidfx
Ace,
are u move ur SL to BE as well or still use original SL. Now price reversed..maybe we'e floating -ve.
I've got four positions open. Three of them are using the original rules (still floating around). The other one is out at BE, with the long entry back at the break of the box. The last position is of smaller size and is using droland's method.
  • #1,148
  • Jul 20, 2009 10:56pm Jul 20, 2009 10:56pm
Ace trades the system outlined in the first post.
  • #1,149
  • Jul 20, 2009 10:59pm Jul 20, 2009 10:59pm
Quoting yonnie
I was having a look at droland`s system for the week 15-19 June 2009 manually:
if up by 50 pips, move to BE and a 100 pip TSL - if stopped out place a stop order in the same direction 25 pips from the stop price and move stop order to stop price if price moved 50 pips away with a 50 pip SL and a 100 pip TSL

Ace with 1 trade had 523 pips for that week
Droland with 10 trades had 278 pips for that week.

My guess is that Droland`s system will drop pips in a directional week but wont lose (that much?) when Ace has 1 or 2 stop losses.
Aces` system...
When you do some review these other weeks, try and see what settings would be better. We don't have the EA's ready yet so backtesting is a problem.

dr
  • #1,150
  • Jul 20, 2009 11:00pm Jul 20, 2009 11:00pm
Jason. I was backtesting your latest EA and it seems to be setting mulitiple orders. Can you check this.

Dave R.
  • #1,151
  • Jul 20, 2009 11:01pm Jul 20, 2009 11:01pm
Quoting droland
When you do some review these other weeks, try and see what settings would be better. We don't have the EA's ready yet so backtesting is a problem.

dr
I just noticed that your from Canada as well. What part?
  • #1,152
  • Jul 20, 2009 11:04pm Jul 20, 2009 11:04pm
Has anyone got Rons EA working. I get 4051 errors and order too large errors.

dr
  • #1,153
  • Jul 21, 2009 12:00am Jul 21, 2009 12:00am
Quoting droland
When you do some review these other weeks, try and see what settings would be better. We don't have the EA's ready yet so backtesting is a problem.dr
dont see how you can avoid that sort of stopouts with other settings......there will always be times when price just activate your pending orders and goes the other way for a 50 pip loss.

for instance short pending order at 156.59 on June 18th:
at 1.35GMT a dip to 156.51 triggered this order
at 4.55GMT a dip to 156.43 triggered this order again
loss 2 x 50 pips.

I do believe that moving the stop loss to BE after being up say 100 pips has a lot of merit; you can always go back-in.
I think its a bit silly that if you`re up by 200 pips to let the price hit your SL for a 120 pip loss.
To protect our capital comes first, profit second.
This is for people who have a bit more time to glance at the price sometimes.
  • #1,154
  • Jul 21, 2009 12:05am Jul 21, 2009 12:05am
I can't get Rayguns ea to work either.
  • #1,155
  • Jul 21, 2009 1:18am Jul 21, 2009 1:18am
ace
now yo have a pending long order at the break of the box for gj ?

regards


Quoting Ace284
I've got four positions open. Three of them are using the original rules (still floating around). The other one is out at BE, with the long entry back at the break of the box. The last position is of smaller size and is using droland's method.
  • #1,156
  • Jul 21, 2009 1:38am Jul 21, 2009 1:38am
Hi Droland,

I'm refering to post #1089 (page 73) . Can u pass me the indicator on the chart that line blue and red. I dont know what indicator is that, is it ATR?

If it's other than ATR, what is it and how to use it.

Thanks in advance.
  • #1,157
  • Jul 21, 2009 1:55am Jul 21, 2009 1:55am
Quoting Ace284
I just noticed that your from Canada as well. What part?
I'm in Vancouver, B.C.

dr
  • #1,158
  • Jul 21, 2009 1:57am Jul 21, 2009 1:57am
Quoting kepalalutut
Hi Droland,

I'm refering to post #1089 (page 73) . Can u pass me the indicator on the chart that line blue and red. I dont know what indicator is that, is it ATR?

If it's other than ATR, what is it and how to use it.

Thanks in advance.
it's called Trend Magic and it is actually very accurate. I was thinking of setting an EA with this alone.

I attach it here.
Attached File(s)
File Type: mq4 Trend Magic.mq4   2 KB | 709 downloads
  • #1,159
  • Jul 21, 2009 2:21am Jul 21, 2009 2:21am
Hi Droland. If you do an EA using Trendmagic, could you let me have it pls? I already use Trendmagic and an EAwould be great. Thanks
  • #1,160
  • Jul 21, 2009 2:30am Jul 21, 2009 2:30am
Quoting droland
it's called Trend Magic and it is actually very accurate. I was thinking of setting an EA with this alone.

I attach it here.
Droland, what is the best setting for CCI and ATR with regards to 4hr weekly breakout? 50 and 16?
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