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4H Box Breakout

  • #1,741
  • Aug 11, 2009 6:38pm Aug 11, 2009 6:38pm
Just getting into thread. looks like pipping fun. If it works...! Have not figured out the open issue yet. But if correct..looks like a good number of pips so far.....
* New York Market trade times: 8am-4pm EST
* London Market trade times: 2am-12Noon EST
* Great Britain Market trade times: 3am-11am EST
* Tokyo Market trade times: 8pm-4am EST
* Australia Market trade times: 7pm-3am EST
with the asian open being 2 hours later than the australia open.

I been reading a lot of about trade management. I think the attached which works on one currency at a time would be of use to some folks.
easy to manage to various profit levels and move stops at pre defined intervals. Drop on separate separate chart.
Attached File(s)
File Type: mq4 MTP_1[1][1].5.mq4   9 KB | 585 downloads
  • #1,742
  • Aug 11, 2009 6:45pm Aug 11, 2009 6:45pm
Quoting bigjim1958
Hi Garfield:
Congratulations on a couple of fantastic weeks, unfortunately I just started trading yesterday, but a nice start to a week. I know you're moving your stop to BE at TP1, have you thought of moving it to TP1 when TP2 hit, moving it to TP2 when TP3 hit, etc. This way you give it some room to move, granted not as much as leaving it at BE, but you won't have to watch a profitable trade move all the way back to BE, just thinking out loud, like to hear your opinion. Again, congratulations on a great start to the month.

Jim
Hi Jim,

Good to see your first week is a success/profitable. That is very important to get a belief in the system. I have been trading this system for 4 weeks only. It has been a great porfitable system. I am sure there will be weeks when it will make losses but that is part of trade.

I know what you are saying about moving to TP1 when TP2 hits, don't forget G/J can move very quickly and therefore when moving SL to TP1 can get you out of the game sooner than you want. Thats why I don't want to move SL from BE this give ample room to G/J also not impacted by market retreacement, SL will be triggered only when there is a trend change.


Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,743
  • Aug 11, 2009 7:21pm Aug 11, 2009 7:21pm
I actually have read the entire thread but somehow have missed what indicators are being used to show the breakout and take profit areas. This would be very helpful. I have traded this two weeks now with great success.

Thanks to all
  • #1,744
  • Aug 11, 2009 7:42pm Aug 11, 2009 7:42pm
Quoting FXmoneyman
I actually have read the entire thread but somehow have missed what indicators are being used to show the breakout and take profit areas. This would be very helpful. I have traded this two weeks now with great success.

Thanks to all
How could you have traded it for two weeks but don't know how the box or take profits work? Its in the very first post of the thread.
  • #1,745
  • Aug 11, 2009 7:45pm Aug 11, 2009 7:45pm
Quoting 11andy11
How could you have traded it for two weeks but don't know how the box or take profits work? Its in the very first post of the thread.
Excuse me,

I obviously understand how the trade works and have traded it for two weeks. My question was pertaining to indicators I have seen on some charts which had the candle and the take profits on them. I was not able to see which indicators these were and they would be helpful.
  • #1,746
  • Aug 11, 2009 8:47pm Aug 11, 2009 8:47pm
I'm posting the modified version of the 1 Box 4 indicator. I checked the numbers, and everything is fine. These are the numbers I use. I want to give credit to fx2248 for the modification. Thanks a lot my friend!

It should run fine, and remember that your long order must include your spread. So if the indicator states Long 150.00 and you have a spread of 7 pips. Then your long order should be 150.07. Also the short order should be placed 1 pip below the actual short number. Attach both indicators on your chart.

Thanks again fx2248
Attached File(s)
File Type: mq4 1 Box 4 A.mq4   7 KB | 1,101 downloads
File Type: mq4 1 Box 4 B.mq4   7 KB | 1,014 downloads
  • #1,747
  • Aug 11, 2009 8:58pm Aug 11, 2009 8:58pm
Quoting garfield75
Hi Jim,

Good to...
Hi Garfield:
Thanks for the quick reply. I have never traded the G/J before, respect for it's nickname, lol. thanks for your insight, in your trading of the G/J what constitues a trend change for you. Thanks again and keep raking in the pips, I'll take your leftovers. LOL

Jim
  • #1,748
  • Aug 11, 2009 9:15pm Aug 11, 2009 9:15pm
Thanks Ace,

That's exactly what I needed.
  • #1,749
  • Aug 11, 2009 10:20pm Aug 11, 2009 10:20pm
Quoting bigjim1958
Hi Garfield:
Thanks for the quick reply. I have never traded the G/J before, respect for it's nickname, lol. thanks for your insight, in your trading of the G/J what constitues a trend change for you. Thanks again and keep raking in the pips, I'll take your leftovers. LOL

Jim
I use a indicator called TopTrend to help me indentify trend changes. It's quite accurate on 30 mins and 1 hour time frame.

G/J (Beast/Dragon) is my primary pair for trade. Don't try to predict it's movement your will get killed. Just follow it with TopTrend and you will be rewarded.

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,750
  • Aug 11, 2009 10:23pm Aug 11, 2009 10:23pm
Quoting Ace284
I'm posting the modified version of the 1 Box 4 indicator. I checked the numbers, and everything is fine. These are the numbers I use. I want to give credit to fx2248 for the modification. Thanks a lot my friend!
Ace,

This still looks like this indicator takes the low/high of the candle placed on 00:00 period line (H4) instead of the one opening the week on Sunday at 8pm GMT(as per your guide and screenshot in post #1).

Can you please double check?
  • #1,751
  • Aug 11, 2009 10:33pm Aug 11, 2009 10:33pm
Hi I just found this thread and it looks promising.
I see some weeks are loosers but the winners are larger than the loosers so thats of with me.
Thanks for sharing
  • #1,752
  • Aug 11, 2009 10:50pm Aug 11, 2009 10:50pm
Quoting tpr
Ace,

This still looks like this indicator takes the low/high of the candle placed on 00:00 period line (H4) instead of the one opening the week on Sunday at 8pm GMT(as per your guide and screenshot in post #1).

Can you please double check?
They're the same on my chart. The box high and low are supposed to be defined by the 00:00 MT4 time candle as shown on post 1.
Attached Image (click to enlarge)
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  • #1,753
  • Aug 12, 2009 12:42am Aug 12, 2009 12:42am
Quoting garfield75
I use a indicator called TopTrend to help me indentify trend changes. It's quite accurate on 30 mins and 1 hour time frame.

G/J (Beast/Dragon) is my primary pair for trade. Don't try to predict it's movement your will get killed. Just follow it with TopTrend and you will be rewarded.

Cheers
Garfield
Hi Garfield,

Please post this indi.
Regards B
Just trade the pullback you idiot!
  • #1,754
  • Aug 12, 2009 1:01am Aug 12, 2009 1:01am
This is how the indicators work on my platform - FxPro. Things maybe different with other MT4 brokers. It works fine for me. I have attached charts to illustrate the setup for FxPro.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Indicators.gif Size: 19 KB
Click to Enlarge Name: sunday fxpro.gif Size: 19 KB
  • #1,755
  • Aug 12, 2009 1:03am Aug 12, 2009 1:03am
Quoting Ace284
I'm posting the modified version of the 1 Box 4 indicator. I checked the numbers, and everything is fine. These are the numbers I use. I want to give credit to fx2248 for the modification. Thanks a lot my friend!

It should run fine, and remember that your long order must include your spread. So if the indicator states Long 150.00 and you have a spread of 7 pips. Then your long order should be 150.07. Also the short order should be placed 1 pip below the actual short number. Attach both indicators on your chart.

Thanks again fx2248...

FX2248 & Ace, thanks a lot!
  • #1,756
  • Aug 12, 2009 2:14am Aug 12, 2009 2:14am
TP4 on GBP/JPY has been hit @ 156.74 for a 516 pips profit......marvellous system
  • #1,757
  • Aug 12, 2009 3:16am Aug 12, 2009 3:16am
I honestly hope the results will be similar when i place my first trade , that will be in september though would be nice to get 500 pips for a good start

Ace wrote:
I tested back until the start of the year. And placing stop to BE gave these results.

Winners - 40.43%
Losers - 23.40%
Breakeven - 36.17%

So before, the ratio was 40% winner and 60% loser. Looks MUCH better now. Got that 60% to turn into 23%

Could you please specify-do you mean that placing SL after TP1 is hit to the breakout-point will give those better results?
I'm going to test history (i said that i will post the results for g/j from last two years yestarday but this is impossible, i'll start to do this next monday) so i'll do this with that improvement of strategy and if there are some other REAL improvements which increase the PROBABILITY (i haven't read every post here) please post them again so you will have more precise backtest next week.
why the strategy says to add spread to the box only on the upper side? is it checked? i have 12p spread on it that's more than g/u 4p is there any reason for it?
  • #1,758
  • Aug 12, 2009 3:22am Aug 12, 2009 3:22am
Quoting garfield75
I use a indicator called TopTrend to help me indentify trend changes. It's quite accurate on 30 mins and 1 hour time frame.

G/J (Beast/Dragon) is my primary pair for trade. Don't try to predict it's movement your will get killed. Just follow it with TopTrend and you will be rewarded.

Cheers
Garfield

How about for ranging period.... how you read it on the top trend indi... is just like a bb indi.

i same to me.
  • #1,759
  • Aug 12, 2009 3:32am Aug 12, 2009 3:32am
Please im me and i will send you toptrend indi. I don't want to post it here, becuase I don't really use it for this system i use it for another hourly system on g/j, and by posting it here everyone might get wrong idea and start adultrating this system with all indicators, which I don't want.

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,760
  • Aug 12, 2009 3:54am Aug 12, 2009 3:54am
hi ace~!
the week
very good result

....
1000pips!!

Attached Image (click to enlarge)
Click to Enlarge Name: 8.JPG Size: 161 KB
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