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4H Box Breakout

  • #1,461
  • Aug 2, 2009 8:35pm Aug 2, 2009 8:35pm
I will close out before nfp unless I am way in profit.
  • #1,462
  • Aug 2, 2009 8:58pm Aug 2, 2009 8:58pm
1 more hour to go for the 1st candle to complete, then start the party!!

Just reviewing EG pair, seem GBP is strong against EUR and JPY is stronger than both of them. So, I am thinking whether am I going for E/J or G/J pair? because I normally trade one of the pair only.
  • #1,463
  • Aug 2, 2009 9:16pm Aug 2, 2009 9:16pm
Hi Ace,

Please post the actual Hi & Low values for GBP/JPY & EUR/JPY for this week. I just want to double check with mine since I have different values.

Thanks.

Quoting Ace284
The week is underway. The candle is formed and as always im posting my chart for GBP/JPY and EUR/JPY.

Setting BE orders at some point in the trade would be a good idea. I'm looking at 1x, then placing it at BE.

I'm posting a chart for July. There was a loss but the first week of July off set most of it. Only at around -1 for the month. A lot of people are taking it much more seriously then that because maybe they exited the first weeks position too early. Or maybe they found this system right after that great week. Long Term people...Nothing...
  • #1,464
  • Aug 2, 2009 9:20pm Aug 2, 2009 9:20pm
hey you guys doing sell or buy? I'm considering sell...
  • #1,465
  • Aug 2, 2009 9:26pm Aug 2, 2009 9:26pm
Quoting icylord
hey you guys doing sell or buy? I'm considering sell...

WE set up our entries and let the market decide the rest ~
trade safe
  • #1,466
  • Aug 2, 2009 9:37pm Aug 2, 2009 9:37pm
Quoting kepalalutut
Hi Guys,

Just a question. Anybody have tested USDJPY before? Is it a good pair to trade with this Ace 4H BO method? There will be NFP this week.


what say all of you?

tested put u/j, results not as good as e/j and g/j.

i would suggest trading e/j and g/j with tis system is enough
trade safe
  • #1,467
  • Aug 2, 2009 9:38pm Aug 2, 2009 9:38pm
Quoting EATrader
Hi Ace,

Please post the actual Hi & Low values for GBP/JPY & EUR/JPY for this week. I just want to double check with mine since I have different values.

Thanks.
GY candle
High - 158.90
Low - 158.08

EY candle
High - 135.42
Low - 134.89
  • #1,468
  • Aug 2, 2009 10:14pm Aug 2, 2009 10:14pm
Hi Ace,

What buffer do you use for GY & EY? 10 or 20?

Thanks.

Quoting Ace284
GY candle
High - 158.90
Low - 158.08

EY candle
High - 135.42
Low - 134.89
  • #1,469
  • Aug 2, 2009 10:25pm Aug 2, 2009 10:25pm
Quoting EATrader
Hi Ace,

What buffer do you use for GY & EY? 10 or 20?

Thanks.
I use 20 for GY and 15 for EY.
  • #1,470
  • Aug 2, 2009 10:52pm Aug 2, 2009 10:52pm
Hi all. this is my first post to this fine thread. I have read the entire thread and I was wondering for those who are using Forex.com are candle lows and highs the same as Ace's for g/y and e/y?

Great job Ace and all the contributors.
  • #1,471
  • Aug 2, 2009 11:02pm Aug 2, 2009 11:02pm
Quoting Ace284
The week is underway. The candle is formed and as always im posting my chart for GBP/JPY and EUR/JPY.

Setting BE orders at some point in the trade would be a good idea. I'm looking at 1x, then placing it at BE.

I'm posting a chart for July. There was a loss but the first week of July off set most of it. Only at around -1 for the month. A lot of people are taking it much more seriously then that because maybe they exited the first weeks position too early. Or maybe they found this system right after that great week. Long Term people...Nothing...

Hi Ace,

Today is your Birthday right? Happy Birthday to you.

http://img.123greetings.com/eventsne...3-109-1069.gif
  • #1,472
  • Aug 2, 2009 11:09pm Aug 2, 2009 11:09pm
Quoting Tdp
Hi Ace,

Today is your Birthday right? Happy Birthday to you.

http://img.123greetings.com/eventsne...3-109-1069.gif
Thanks man!!! = D
  • #1,473
  • Aug 3, 2009 3:33am Aug 3, 2009 3:33am
Hi Guys,

By refering to 1 hour chart, GJ seem breakout the uptrend resistance already and I believe all of us should open trade on that direction right?

Good luck!!
Attached Image (click to enlarge)
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  • #1,474
  • Aug 3, 2009 3:33am Aug 3, 2009 3:33am
There has been much discussion about SL levels, BE and entry and exit variations. I have done a little back testing and have modified this great system in the following way.
I trade this system on a daily basis more so than weekly. My entry is exactly the same except that I have either the long or short depending on the trend and as personal preference I cancel the order if I am not entered on the first candle after the box. For example, if the 30 period Exponential MA is moving up and price action is above it I set the box for a long entry with first target at 1:1. At reaching this level SL is pulled up to BE. Subsequent PT levels are 1:2, 1:3 and so on.
Why do I do this. Well, I am sure everyone has read and followed the principle of trading with the trend, so I like to maximize the odds by only going with the trend. Why a 30 period MA. Because on a 4 hour chart it is the weekly trend.
This can be used on most major currencies so there are plenty of opportunities to trade.
My initial testing from only the beginning of the year gave a success rate of about 70% getting to the 1:1 level. The other exit option is to take 1:1.5 on all your lots in which case a strike rate of anything greater than 40% will see the account grow.
It is a slightly more conservative approach that does not change the intent of Ace's great method.
Happy to hear any comments. As I type my 1:1 is hit on GBP/JPY, great start to the week.

Regards,

Anthony
  • #1,475
  • Aug 3, 2009 3:59am Aug 3, 2009 3:59am
hi aajduk,

you are not alone, I am doing the same thing but I prefer EJ pair for daily.

Cheers!!


Quoting aajduk
There has been much discussion about SL levels, BE and entry and exit variations. I have done a little back testing and have modified this great system in the following way.
I trade this system on a daily basis more so than weekly. My entry is exactly the same except that I have either the long or short depending on the trend and as personal preference I cancel the order if I am not entered on the first candle after the box. For example, if the 30 period Exponential MA is moving up and price action is above it I set the box for a long entry with...
  • #1,476
  • Edited 4:21am Aug 3, 2009 4:07am | Edited 4:21am
Dear Sir,

I have read your thread for 30 mins, and buy gbp/jpy , after 30p, i did have 100 pips when gbp/jpy break-out !

I love this system !
  • #1,477
  • Aug 3, 2009 4:19am Aug 3, 2009 4:19am
Pips info,

Good to hear someone else doing the same.
I may have confused some slightly. When I say I trade it on the daily, I meant I trade the 4 hour timeframe each day with a potential new entry provided I am not in an existing trade.
Hope I did not confuse.

Regards,

Anthony
  • #1,478
  • Aug 3, 2009 4:19am Aug 3, 2009 4:19am
TP 1 hit on G/J, banked 88 pips. Moved SL to BE for remaining 2 position.
It's a free roll from here.

Happy Birthday ACE. Hope the market gives you a great birthday gift this week

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,479
  • Aug 3, 2009 4:52am Aug 3, 2009 4:52am
Hi Aajduk,

I am using 1 hour chart but same method for the trade.

Rgds.
Quoting aajduk
Pips info,

Good to hear someone else doing the same.
I may have confused some slightly. When I say I trade it on the daily, I meant I trade the 4 hour timeframe each day with a potential new entry provided I am not in an existing trade.
Hope I did not confuse.

Regards,

Anthony
  • #1,480
  • Aug 3, 2009 6:28am Aug 3, 2009 6:28am
TP 1 hit on CAD/JPY, banked 60 pips. Moved SL to BE for remaining 2 position.



Cheers
Garfield
Trading is SIMPLE not EASY.
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