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4H Box Breakout

  • #1,561
  • Aug 5, 2009 2:03am Aug 5, 2009 2:03am
Quoting hafizal79
i already read it....

i already understand it....

but how you sure it will break? just a luck? just to be follower?

i don't debate on are this system is simple or what.

i sure you not become a trader for many year if you are already smart you should be a millionaire now.

asking when you don't know the thing. this my afford to learn.

Hi Hafizal,

please read the Q&A on 1st post , I believe you may find the answer.

Cool down, we are here to make money not to argue.
Be humble is the way to success.

All the best!
  • #1,562
  • Aug 5, 2009 2:05am Aug 5, 2009 2:05am
Due to NFA rules, IBFX doesn't allow pending buy and sell orders. If one activated, the other will be canceled. How do you deal with this problem? My pending buy orders got deleted when sell orders activated because it might cause a hedge.

Please advise. Thanks.

Quoting garfield75
its a straddle order on both side for Long and Short. That way it doen't matter which the market moves you are in it as and when it moves.

Cheers
Garfield
  • #1,563
  • Aug 5, 2009 2:05am Aug 5, 2009 2:05am
Quoting garfield75
mate If you need to get answer then you should be nice when asking for it.
If you did read it and understand it then you shouldn't be asking the question
"but how you sure it will break? just a luck? just to be follower?"
Answer - We don't know which way it will go and this is why its a straddle order on both side for Long and Short. That way it doen't matter which the market moves you are in it as and when it moves.

Cheers
Garfield
sorry to all just feeling upset.
  • #1,564
  • Aug 5, 2009 2:07am Aug 5, 2009 2:07am
Quoting banana9009
yesterday, i re-enter the martket from the Fibo , and gain another 200 pips, very easy !
look at the pics,
Thanks Ace284 for your system !
Hi Banana,

Is it too dangerous to enter in the middle instead of beginning?? How do you manage it and are you using the same Fib level as Ace's?

Thanks
  • #1,565
  • Aug 5, 2009 2:08am Aug 5, 2009 2:08am
Quoting EATrader
Due to NFA rules, IBFX doesn't allow pending buy and sell orders. If one activated, the other will be canceled. How do you deal with this problem? My pending buy orders got deleted when sell orders activated because it might cause a hedge.

Please advise. Thanks.

I have this problem too. Now what i do is, do my charting on MT4 and place pending orders at GFT.
  • #1,566
  • Aug 5, 2009 2:10am Aug 5, 2009 2:10am
Quoting EATrader
Due to NFA rules, IBFX doesn't allow pending buy and sell orders. If one activated, the other will be canceled. How do you deal with this problem? My pending buy orders got deleted when sell orders activated because it might cause a hedge.

Please advise. Thanks.

Thanks god I am not in USA . and NFA doesn't effect me.

Can't you open 2 different account with same or diff broker then use one for Short and other for Long ?
Or maybe open an account outside USA ?

If faced with this situation I would open an account outside USA.
Cheers
Garfield.
Trading is SIMPLE not EASY.
  • #1,567
  • Aug 5, 2009 2:23am Aug 5, 2009 2:23am
Quoting fxann
Hi Ace, I think I have missed out one thing. Do you draw your lines manually or with some indicators which specially created?

Sorry, I can't remember this has been answered. As far as I know some of the experts are working on the EAs.

Thanks
I found post 1263 about the box indicator. I am not sure how to install on my chart. Can any expert help me??

Big Thanks
  • #1,568
  • Aug 5, 2009 2:41am Aug 5, 2009 2:41am
Quoting fxann
Hi Banana,

Is it too dangerous to enter in the middle instead of beginning?? How do you manage it and are you using the same Fib level as Ace's?

Thanks
Hi FXANN,

At the beginning of this week (Monday), I take the break out with 4x TP,
and Tuesday, I dont know how to re-enter market , so I try to find the answer by drawing a Fibo like this , and it is really working well for Tuesday and Wednesday .

Look at the pics
Attached Image
  • #1,569
  • Aug 5, 2009 4:01am Aug 5, 2009 4:01am
Quoting fxann
I found post 1263 about the box indicator. I am not sure how to install on my chart. Can any expert help me??

Big Thanks
Dear All,

I have found the method to download the indicator onto the IBfx,MT4 but the indicators did not showed the figures as Ace's. I do not know how to modify it as I am not a programmer, don't understand a single thing in the attachment.

Can someone help me to modify the total buffer (buffer +spread) t0 30 for both side and I need the TP4?

Or, is anyone having the indicators which shows the same figure as Ace's? can send me the attachement?

Thank you.
Attached File(s)
File Type: mq4 1 Box 4-2.mq4   7 KB | 556 downloads
  • #1,570
  • Aug 5, 2009 4:13am Aug 5, 2009 4:13am
a second chance to take BOX from G/J
Attached Image
  • #1,571
  • Aug 5, 2009 4:35am Aug 5, 2009 4:35am
fxann,

You don't need an indicator to set you entry, exit and SL.
I have attached a simple spreadsheet that you just plug in the high and low of the box candle and it will give you all the other info. You can adjust the buffer and spread to your needs. Fell free to use it if that is what you are after.

Regards,

Anthony
Attached File(s)
File Type: xls 4H Box Calculation (4).xls   28 KB | 751 downloads
  • #1,572
  • Aug 5, 2009 4:59am Aug 5, 2009 4:59am
The box indicator if anybody needs it, it works best on 30 min chart, you have to adjust it to your server time zone, set buffers and end time
Attached File(s)
File Type: ex4 jason-breakout-box_v3.ex4   14 KB | 899 downloads
Regards
  • #1,573
  • Aug 5, 2009 6:02am Aug 5, 2009 6:02am
Quoting EATrader
Due to NFA rules, IBFX doesn't allow pending buy and sell orders. If one activated, the other will be canceled. How do you deal with this problem? My pending buy orders got deleted when sell orders activated because it might cause a hedge.

Please advise. Thanks.
Quoting fxann
I have this problem too. Now what i do is, do my charting on MT4 and place pending orders at GFT.
EATrader, your name almost contradicts what you're asking.

Did you both read this thread?
  • #1,574
  • Aug 5, 2009 6:10am Aug 5, 2009 6:10am
Quoting aajduk
fxann,

You don't need an indicator to set you entry, exit and SL.
I have attached a simple spreadsheet that you just plug in the high and low of the box candle and it will give you all the other info. You can adjust the buffer and spread to your needs. Fell free to use it if that is what you are after.

Regards,

Anthony
nice
  • #1,575
  • Aug 5, 2009 7:24am Aug 5, 2009 7:24am
Quoting dannywmk
great info razor.

I've been trading live with this method for 1 month on a 50k account and now it's been to 56k (as of yesterday).

I also think that a long term low risk method is the key to ultimate success. A quick boost of the account equity within a short period of time is nothing other than luck (think of bull run in property market in asia country just beofre 1997, or the internet boom just before 2000)....
dannywmk,

Thank you for analyzing so good. I have been looking for a system which I can trade in a relaxed way . I have seen a lot of drawdowns in my life but since I never overextended I never suffered loss. Attached is the picture of what I am talking about. Do you have any excel sheet or some aid whereby I can just calculate on drawdown?

After reading your observations about this weekly trading technique I decided to put it together based on my experience of facing drawdowns in the past. Since the trend is up now which I feel is going to last for until Dec at least, I am only talking about this trend.

(a) If price climb steadily up, I am buying and taking profits after 70 pips by moving profit target and using trailing stops.

(b) If price is choppy, I am collecting on dips after 70 pips and selling on peaks. I guess it would need some kind of scaled positioning.

(c) And if price steadily declines, I am accumulating another 1 position after 100 pips (total three positions) and drawing down margin. Doing Nothing except waiting for the market to recover.

If I calculate six months of hi-low pips (1,200 pips) and keep that as a free margin for every trade, will this strategy of buying (as the present trend is up) and selling (when the trend indicated is down) in 100 pips scale work?

Exit plan: When in profit overall exit depending on the market. Or exit in phased manner .

Alternative plan (Hedging)


Strategy with hedged position for steady decline:

(a) Needs no action. Just take profit.

(b) Collecting on dips to use maximum use of the margin. Dips happen because of stop hunt, retracement or correction.

(c) And if price steadily declines say up to 250 pips (10+ more pips than I planned to keep my buying position open depending upon the major round numbers) from the original position .

If I feel the trend has not yet changed I will then change from long to short and sell and lock my 250+ pips loss. And then use trend/pivot line breaks or fibos to plan profit taking and the the stoploss will be the original position.
Asian traders excel in this technique and I learned from them and have tried many times successfully. Whether this will work or not I am mentally prepared to ride over drawdown.

I will be grateful for your analysis based on these parameters.

Attached is a picture which will give you an idea of my thinking as an investor. I am a trader but some positions I treat like investment.

pj
Attached Image (click to enlarge)
Click to Enlarge Name: Hotbarsdrawdonw.gif Size: 75 KB
  • #1,576
  • Aug 5, 2009 7:39am Aug 5, 2009 7:39am
Open a second account at IBFX. Takes 2 days.
  • #1,577
  • Aug 5, 2009 12:21pm Aug 5, 2009 12:21pm
if your on ibfx download the mt4 multiplatform software and open a second account.
  • #1,578
  • Aug 5, 2009 1:42pm Aug 5, 2009 1:42pm
for some reason my updates stopped

so just ignore this message thanks
"The person who knows that enough is enough, will always have enough". .
  • #1,579
  • Aug 5, 2009 4:24pm Aug 5, 2009 4:24pm
Hi Ace,

As I understand it, you've been trading live since Dec-08. If you don't mind, what's been your annualized return on assets since going live<

thanks,

Walt
  • #1,580
  • Aug 5, 2009 4:43pm Aug 5, 2009 4:43pm
I did note the 6 week performance from May 11th thru June 9th.... very impressive. I was hoping for a broader time horizon, especially in the months of July & August, which have been abnormally flat (especially for the eurusd & gbpusd).

Walt
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