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4H Box Breakout

  • #1,161
  • Jul 21, 2009 3:52am Jul 21, 2009 3:52am
Incase we hit SL on 1st order of week, the opposite direction order should go to 3x TP. Just my 2 cents
  • #1,162
  • Jul 21, 2009 5:02am Jul 21, 2009 5:02am
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.
Yes please Droland, an EA would be very interesting
  • #1,163
  • Jul 21, 2009 5:56am Jul 21, 2009 5:56am
I think trend magic would be appropriate for another thread.

Also, the 4H breakout Droland version is running into a slew of problems, mostly in the 'recoverability' part of the code. I'm getting to it as quickly as I can, don't worry.
  • #1,164
  • Jul 21, 2009 6:48am Jul 21, 2009 6:48am
Quoting gloworm
Yes please Droland, an EA would be very interesting
Quoting gillybabe
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
Guys c'mon, don't start with this. I'm sure you know that the Trendmagic EA conversation belongs on another thread. I'm going kindly ask the programmers to not post any EA soley based on that indicator.

IF, the indicator has some value to this system, then posting examples would be good. We'll get a better idea if its useful. Concrete evidence first.

Again, I don't want the hundreds of people flocking into this thread, hoping that the Trendmagic EA has been created. The last thing I want, is for this thread to turn out like the EUR/GBP Trendmagic system.
  • #1,165
  • Jul 21, 2009 6:52am Jul 21, 2009 6:52am
Mea culpa. I'm sorry I did not mean to distort this thread. Just for Droland to post a link if he ever does this. I totally agree re the Eur/GBp thread. That has turned into a real shambles from a promising beginning. Enough.
  • #1,166
  • Jul 21, 2009 10:37am Jul 21, 2009 10:37am
i have gone long again at the break of the box and it is losing again , will we go short at the break of the box down ? is it like this , this method
thanks
  • #1,167
  • Jul 21, 2009 10:38am Jul 21, 2009 10:38am
153.98 We broke down through 154.00 level and also support 1. Will be interesting to see if the next candle continues the downtrend or if it bounces back up
  • #1,168
  • Jul 21, 2009 10:40am Jul 21, 2009 10:40am
Quoting samer960
i have gone long again at the break of the box and it is losing again , will we go short at the break of the box down ? is it like this , this method
thanks
Samer right now it looks like a down trend but that could change at any moment. Have you read through the thread? Ace's rules call for placing pending trades at the beginning of the week.
  • #1,169
  • Jul 21, 2009 10:45am Jul 21, 2009 10:45am
i did that ,
just wondering if we keep this pending order . or we cancel it . yes i did read all the thread
thank u
Quoting nubchai
Samer right now it looks like a down trend but that could change at any moment. Have you read through the thread? Ace's rules call for placing pending trades at the beginning of the week.
  • #1,170
  • Jul 21, 2009 10:47am Jul 21, 2009 10:47am
I'm short GJ at 153.52 and EJ at 132.64.... uhhh!
  • #1,171
  • Jul 21, 2009 10:50am Jul 21, 2009 10:50am
Quoting samer960
i did that ,
just wondering if we keep this pending order . or we cancel it . yes i did read all the thread
thank u
Samer I think many leave both orders until the end of the week. So if your long triggered and got stopped out you then wait to see if the price moves down through the pending short and triggers that order. That is Ace's method. There are some variations emerging.
  • #1,172
  • Jul 21, 2009 10:57am Jul 21, 2009 10:57am
short taken at 153.48.
  • #1,173
  • Jul 21, 2009 10:59am Jul 21, 2009 10:59am
Short looks very strong. Price just sliced down through 153's
  • #1,174
  • Jul 21, 2009 11:05am Jul 21, 2009 11:05am
short at 153.658
  • #1,175
  • Jul 21, 2009 11:24am Jul 21, 2009 11:24am
Hey,

are anybody testing this on the 1hr timeframe?

Looks good on visual backtesting.

Suggestions and input are much appreciated,

PC
Less is more...
  • #1,176
  • Jul 21, 2009 11:39am Jul 21, 2009 11:39am
Hi,

Just for the historical record, I was stopped out on my long (which nearly went to 4x), and now have entered short.

I will trade this as pure to Ace's 4x take profit as I can

Ace - it is definitely a very interesting and simple system. As you said earlier, any losses taken by traders should be manageable and with good MM. I think by using the 8th Wonder of the the World (namely: Compound Interest) we should be alright in the long term.
Just for today, do not worry...
  • #1,177
  • Jul 21, 2009 1:10pm Jul 21, 2009 1:10pm
Quoting kepalalutut
Droland, what is the best setting for CCI and ATR with regards to 4hr weekly breakout? 50 and 16?
I put it on my charts with the defaults. I don't use it much for the 4Hr breakout. It is there simply for some basic reference.

I also agree with Ace however. Trend Magic is on another thread here at FF. I can't remember where but people should go there to find the details. Lets concentrate on this great system.

dr
  • #1,178
  • Jul 21, 2009 1:18pm Jul 21, 2009 1:18pm
As discussed on Sunday, I was nervous about bucking the 1 month downtrend with the first LONG. I certainly got a bit excited since it broke one major resistance but not to happen. I have been stopped out at BE on the LONG and I am now in the SHORT originally set up on Sunday. It is waffling about the entry point right now. I hope it continues south or I may end up with my first weekly net loss.

Still early in the week though.

Dave R.
  • #1,179
  • Jul 21, 2009 1:24pm Jul 21, 2009 1:24pm
the summer time not safe for trading. Im out for next week and all august

thanks ACE for this great system!!!!
  • #1,180
  • Jul 21, 2009 1:58pm Jul 21, 2009 1:58pm
For the record I was in the long and closed out at +97 pips. I don't follow Ace's method to the letter.

I'm now in the short.
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