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4H Box Breakout

  • #1,581
  • Aug 5, 2009 7:20pm Aug 5, 2009 7:20pm
Ace,

I almost forgot about it; do you wait for the close of GMT 0100 candle before you draw the box, or as soon as it's form?

If wait for GMT 0100 candle to close, it means need to wait until GMT 0200

If doesn't need to wait, meaning draw box at GMT 0100....
  • #1,582
  • Aug 5, 2009 7:36pm Aug 5, 2009 7:36pm
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
Thanks Anthony, I got the excel spreadsheet already. I just need a box indicator which can draw boxes without manually doing it.

Appreciate your help.
  • #1,583
  • Aug 5, 2009 7:43pm Aug 5, 2009 7:43pm
Quoting jones247
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
During the start, as I stated I used 2x as my TP for GBP/JPY. I changed up position sizes a few times, sometimes for the best, and sometimes for the worst. I look back at some trades and wonder why I did what I did. You guys know the deal, using a certain lot size and having a good week, and then increasing the lot size and losing the next week. All that adds up. Positing sizing is extremely important.

Overall as I look at my account its been a +96.47% gain since Dec 08. Sticking with percents as I promised earlier . That number could have been much higher if I was using the 4x TP from the start but its still really good. If you are skeptical about that, feel free to look back. I risk around 2%-3% on average nowadays. Very small as compared to the actual account size. And im better at dealing with position sizing now than I use to be.

I had reached over 100% at the start of July but it dropped a little. As of now I am NOT sitting with a account that has doubled in size. Despite, people saying that they've doubled their's in 1 month. To do that you have to risk an unsafe amount. Its almost there, only 2.53% to go.
  • #1,584
  • Aug 5, 2009 10:23pm Aug 5, 2009 10:23pm
re-enter the market today Aug 6th 2009
Attached Image
  • #1,585
  • Aug 5, 2009 10:26pm Aug 5, 2009 10:26pm
Kudos to you, Ace... Thanks for sharing your insights and performance...


Quoting Ace284
During the start, as I stated I used 2x as my TP for GBP/JPY. I changed up position sizes a few times, sometimes for the best, and sometimes for the worst. I look back at some trades and wonder why I did what I did. You guys know the deal, using a certain lot size and having a good week, and then increasing the lot size and losing the next week. All that adds up. Positing sizing is extremely important.

Overall as I look at my account its been a +96.47% gain since Dec 08. Sticking with percents as I promised earlier . That number could have...
  • #1,586
  • Aug 5, 2009 10:28pm Aug 5, 2009 10:28pm
Quoting banana9009
re-enter the market today Aug 6th 2009
Hi Banana9009,

That great, you might have the "holy grail" there. But these trades you are taking have nothing to do with 4h Box Breakout system.

maybe you want to start a new thread with your new found success.

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,587
  • Aug 5, 2009 11:36pm Aug 5, 2009 11:36pm
Quoting garfield75
Hi Banana9009,

That great, you might have the "holy grail" there. But these trades you are taking have nothing to do with 4h Box Breakout system.

maybe you want to start a new thread with your new found success.

Cheers
Garfield
Break out system dont tell you how to re-enter the market, so put it together , so that we can gain more pips !

If everybody dont like this, i will not post anymore !
  • #1,588
  • Aug 6, 2009 12:20am Aug 6, 2009 12:20am
Quoting Ace284
During the start, as I stated I used 2x as my TP for GBP/JPY. I changed up position sizes a few times, sometimes for the best, and sometimes for the worst. I look back at some trades and wonder why I did what I did. You guys know the deal, using a certain lot size and having a good week, and then increasing the lot size and losing the next week. All that adds up. Positing sizing is extremely important.

Overall as I look at my account its been a +96.47% gain since Dec 08. Sticking with percents as I promised earlier . That number could have been...
Thanks Ace for the sharing. I felt more confident than ever.

All the best!
  • #1,589
  • Aug 6, 2009 6:37am Aug 6, 2009 6:37am
We have another box tp here !
Thanks ace284 !
Attached Image (click to enlarge)
Click to Enlarge Name: re-enter the market.gif Size: 13 KB
  • #1,590
  • Aug 6, 2009 8:21am Aug 6, 2009 8:21am
Banana,

Are you trading a retracement of the break-out, in addition to the break-out?

Walt
  • #1,591
  • Aug 6, 2009 8:41am Aug 6, 2009 8:41am
Quoting banana9009
We have another box tp here !
Thanks ace284 !


I don't understand how this is related to the original post of this system?
  • #1,592
  • Aug 6, 2009 8:59am Aug 6, 2009 8:59am
Quoting s050399b
I don't understand how this is related to the original post of this system?
It is not related at all to this methodology.
  • #1,593
  • Aug 6, 2009 9:50am Aug 6, 2009 9:50am
Quoting garfield75
Hi Banana9009,

That great, you might have the "holy grail" there. But these trades you are taking have nothing to do with 4h Box Breakout system.

maybe you want to start a new thread with your new found success.

Cheers
Garfield
Quoting banana9009
Break out system dont tell you how to re-enter the market, so put it together , so that we can gain more pips !

If everybody dont like this, i will not post anymore !
Regarding your addition to the Box System, I agree with Garfield . . . maybe you should consider a new thread that combines your addition with the original 4H Box System.

I've seen several times on other threads where well-meaning traders incorporate other ideas into the original system, and pretty soon anyone joining the thread has no idea whether the original system is still legitimate and in use. What it usually creates is a lot of unnecessary questions and confusion.
Greetings from Guanajuato, Mexico
  • #1,594
  • Aug 6, 2009 1:53pm Aug 6, 2009 1:53pm
Ace,

In 8 months you have nearly doubled your account. Considering how many people lose money in forex that is extremely good. Congratulations!

Sandy
  • #1,595
  • Aug 6, 2009 6:37pm Aug 6, 2009 6:37pm
ace

i have just done a little backtest of 3 months as that what my sb firm give allows i notice that g/y only hit once at tp4 please correct me
"The person who knows that enough is enough, will always have enough". .
  • #1,596
  • Aug 6, 2009 6:52pm Aug 6, 2009 6:52pm
My PC or my broadband service having problem to connect to FF for past few days, I totally don't have any idea what happen, hopefully this problem will settle soon and back to FF to check up what's the update in this forum.
  • #1,597
  • Aug 6, 2009 8:37pm Aug 6, 2009 8:37pm
Quoting banana9009
Break out system dont tell you how to re-enter the market, so put it together , so that we can gain more pips !

If everybody dont like this, i will not post anymore !
Hi Banana,

Please create a new thread for your system. And do let this thread discuss purely on ACE system.

Thank you very much.
  • #1,598
  • Aug 7, 2009 1:00am Aug 7, 2009 1:00am
Quoting maq
ace

i have just done a little backtest of 3 months as that what my sb firm give allows i notice that g/y only hit once at tp4 please correct me
TP 4 has been hit 4 times during the past 12 trades (3 months).

The weeks are:

May 18-22
June 1-5
June 15-20
July 6-11
  • #1,599
  • Aug 7, 2009 3:59am Aug 7, 2009 3:59am
closed out when it broke through 160. Picked up around 70 pips. Assuming everyone is stopped out that moved to BE.
  • #1,600
  • Aug 7, 2009 8:43am Aug 7, 2009 8:43am
A big concern... Are we being "Fooled by Randomness" (Dr. Nassim Taleb)??

Unless the setup (4hr bar at beginning of the week) is based upon some fundamental rule or event, it results of such a successful break-out can easily turn into frequent whipsaws at the opening 4hr bar for the week. Although you'll have a favorable risk:reward ratio, please remember that "the market can remain irrational longer than we can remain solvent"...


Walt
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