4H Box Breakout

I have followed the thread and have enjoyed the coverage pretty much as a whole. I am surprised that with one week of losses there seems to be a shock and “what do we do now” sound to it. Truth is a 99% win system will still have losses. I have back tested the system over two years and there is a couple of times when two or three losses come in a row. Any market will trend and run sideways, have you considered some way to see that it is possible that this is going to happen. I run with a 100 EMA on my 4 hour charts when the market on the 4 hour charts is about to stall it is because it gets hung up on the 100 EMA. I put a 100 + & - level on the ma and watch carefully when the price gets in this zone. There are simple ways to know how and what the market is doing or about to do, this is just one I use. It just takes a little thought and experience trading.
It also is wise to be trading 2 different systems at one time so if one has losses the other can cover the loss and even put you in profit. Don’t throw up your hands and panic, think of what options you have. If you’re going to make money or trade for more than a few months until your account is broke then read, listen, and for God sakes think of your options, there are many ways to keep an eye on market conditions.
If you have back tested the market you would have seen a stop loss and take profit and know what to expect for losses and wining trades and at least a good idea what the profit exspectations are realistic. Then you would not panic over losing a couple hundred pips. Sounds like you are just following others blindly and that is not what any business man or woman would do. If this is or is going to be your business then do your homework and you will be a success. If this is just for fun then don’t fuss enjoy your ride as you give your money away.
I hope this doesn’t sound critical but show you there are options and not give up or question a system the first time you have some losses and go running for the next that will also have some losses.
Thanks Ace and to those others that have put together the system and for the others with ideas for making it more profitable. I appreciate the efforts, indicators, experts, input and ideas keep up the good work.
RickyD

Thanks for the tips, Ricky, but how do you "put a 100 + & - level on the ma"? I've examined the standard MA and it has many options, but I don't see one for that.

Thanks.

I'm still following the rules from the first post. There have been some tweaks along the way, such as droland's variation which uses trailing stops. I've been testing this on demo as of last week, while trading the original system live.
BE stops also look useful.
Placing the SL at BE after TP1 has been reached.

Go to inputs to "levels" see picture.

Ace, I am using your orignal rules and back tested it and for two years works just fine.

RickyD

This shows the market when it gets hung on the 100 EMA and it is difficult to trade.

Thanks Ace!

for those using IBFX just download the multiplatform mt4 control panel and open a second account. I did it two weeks ago and its very easy to use and then you can have long and short orders pending or open at the same time.

I tried the multiplatform, and it is a good option for those not using an EA.

Since I want to use an EA with these types of systems, I have two accounts with IBFX and run two normal metatrader platforms at once.

I did not know IBFX offered a such thing. Do you download it from their website?

Thanks

it should be offered somewhere on the home page or sign in and go to downloads page. You have to update your mt4 if you have an older version or else changes on one account will not appear on the other.

It's Monday and a brand new week again.... any prefarable trading direction?

I like which ever way it breaks. At the moment the markets look bullish with the past week creating HH and HL, however this mornings start, from the weekend gap has been quite bearish. Breaking below last weeks HL would encourage more shorting, but if we get a new HL then my bias would be back to the long side. In all effect, im in short but will change if PA switches and we get confirmation of a new Higher Low

Razor

I'm confused by your "im in short". The 4H Box doesn't end for almost another 1/2 hour.

I see higher highs but divergence also...who knows

Mine ended 49 mins ago, but depending on your broker your price feed may be different. Im with GFT and my very first 4 hours ends at 8.00am here in Australia.

To add I also use Oanda who is currently displaying there 6th hourly candle. Ill post charts of both to show you. It doesnt matter regardless, the price action and price data from different feeds will always differ. GFTs data will not match ODLs, Oandas etc. You just have to trade what you see on your screen, which is why on this thread you get so many variances on what price traders are getting in at.

Charts below. I trade off the GFT chart 99.9% of the time. The TF is wedged in (the arrows help to show) a very small vertical line. Oanda, count the hourly candle, currently in the 6th hour now.

What is the best size buffer? 20 pips plus spread on GBY/JPY?

I don't want to be a party pooper but lately there seems to be a ton of questions that are about the basic aspect of Ace's system. About 99% of them would be answered if people would read through the thread. Probably about 90% are answered on the first ten pages. If you are trying to trade the system without reading the entire thread your really gonna be at a disadvantage, so do yourself a favor and spend some time to read through it. Basic buffer is going to be 20+spread for long positions and 20 for shorts.

Look, I read the entire thread but there is a hybrid version being traded which includes trailing stops and moving the sl to tp etc. One person said use a 10 pip + spread and another said just use a 30 pip. Maybe my problem is that i remember everything. I was just wondering what the active traders were having the best luck with.

Thanks

Wasn't trying to rip you. Just making a suggestion as it sounded like you had not read through it. It appears that the trailing stop system still uses the initial entry criteria as the original system. Buffer on reentry is a whole other deal that seems to still be in beta.