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4H Box Breakout

  • #2,421
  • Aug 25, 2009 7:23am Aug 25, 2009 7:23am
Hi everyone
I can't find the answer of my question in the thread, so decided to ask.
What are you doing when price get back in the box? Are you opening new trade on second braekout?

Thanks and have a green pips
  • #2,422
  • Aug 25, 2009 7:30am Aug 25, 2009 7:30am
I am staying with G/J short trade. It is with stop at B/E
  • #2,423
  • Aug 25, 2009 7:32am Aug 25, 2009 7:32am
Quoting Bloodless
Hi everyone
I can't find the answer of my question in the thread, so decided to ask.
What are you doing when price get back in the box? Are you opening new trade on second braekout?

Thanks and have a green pips

according to the system, there is 2 positions to be opened. one long above the box and one short below the box. no opening position in the box., it is break out swing weekly system.
  • #2,424
  • Aug 25, 2009 7:48am Aug 25, 2009 7:48am
Quoting shiko
according to the system, there is 2 positions to be opened. one long above the box and one short below the box. no opening position in the box., it is break out swing weekly system.
i sense another week of range trading ahead of us
  • #2,425
  • Aug 25, 2009 7:48am Aug 25, 2009 7:48am
I'd be lying if I said I wasn't tempted to take profits right now. It certainly is starting to look a little bouncy. I'm gonna try to show a little discipline though & hang in there with you guys.
  • #2,426
  • Aug 25, 2009 8:02am Aug 25, 2009 8:02am
out at BE.
  • #2,427
  • Aug 25, 2009 8:04am Aug 25, 2009 8:04am
I am afraid G/J will go down without me.
  • #2,428
  • Aug 25, 2009 8:05am Aug 25, 2009 8:05am
No, i know that we don't open positions in the box. I mean to say when price return again in the box (like it is now on CHFJPY). Then when she move again below the box, we open new trade or no
  • #2,429
  • Aug 25, 2009 8:05am Aug 25, 2009 8:05am
hi guys, i reached be on my short eur/jpy. gbp/jpy still running
  • #2,430
  • Aug 25, 2009 8:06am Aug 25, 2009 8:06am
Closed my Long position at 154.69 for a profit of +47 pips.
If i had waited 10 minutes i would've had an extra +50 on top of that, would've been nice.

But it wasn't my plan and i'm trying to stick to my plan these days.
Can't say i always succeed, but most of the times and in the long run you WILL be consistently more profitable if sticking to the plan.

Again.. stick to the plan and don't reconstruate it... too much.
  • #2,431
  • Aug 25, 2009 8:25am Aug 25, 2009 8:25am
Quote
No, i know that we don't open positions in the box. I mean to say when price return again in the box (like it is now on CHFJPY). Then when she move again below the box, we open new trade or no

only 2 trade /week
so the answer is NO
  • #2,432
  • Aug 25, 2009 8:29am Aug 25, 2009 8:29am
Thanks
  • #2,433
  • Aug 25, 2009 8:47am Aug 25, 2009 8:47am
Quoting banana9009
only 2 trade /week
so the answer is NO
Hi Banana

In your signature it says you double your account every month with this system.
I don't mean to be cynical, but in order to do that you have to have a pretty loose money management plan or?
I mean, say you have an account with $1000.
In order for that to double in 1 month in a system that in average yields about 1000 pips a month and you need $1 per pip.

As i've seen it (i could be wrong, it HAS happend before ) the box spread is about 100 pips in average, meaning you're "betting" $100 in every trade which = 10% of your account?

I don't mean anything bad, i'm just curious in your money management method.
Please tell me if i'm way off, because doubling your account every month with a sound average 2% MM plan, sounds amazing to me and i would love to learn it.

Please don't take my post in the wrong way, i'm not a "snot", i'm just a very curious and eager to learn FX Newbie.


With kind regards
Jesper
  • #2,434
  • Aug 25, 2009 9:05am Aug 25, 2009 9:05am
Quoting Jesper
Hi Banana

In your signature it says you double your account every month with this system.
I don't mean to be cynical, but in order to do that you have to have a pretty loose money management plan or?
I don't mean anything bad, i'm just curious in your money management method.
Since Ace, who created the system, has stated that it took him 6 months or so to almost double his account, I've wondered the same thing about Banana doubling his account every month.

I took it to be nothing more than enthusiasm for the method rather than an actual statement of fact, but maybe Banana can prove me wrong.
Greetings from Guanajuato, Mexico
  • #2,435
  • Aug 25, 2009 9:12am Aug 25, 2009 9:12am
my short on gbp/jpy hit be too. oh well
lets look at the bright side that i didnt lose.
  • #2,436
  • Aug 25, 2009 9:13am Aug 25, 2009 9:13am
Quoting yen44x
Since Ace, who created the system, has stated that it took him 6 months or so to almost double his account, I've wondered the same thing about Banana doubling his account every month.

I took it to be nothing more than enthusiasm for the method rather than an actual statement of fact, but maybe Banana can prove me wrong.

This must be very bad money management. it's gonna catch with Banana sooner or later.

I will be happy if I am 25-30% up after 6 months. It is very good return with 1% risk per trade. Damn, I will be happy if it makes 40% per year.
  • #2,437
  • Aug 25, 2009 9:15am Aug 25, 2009 9:15am
Damn, stop hit at BE after closing half of my position on TP1. Now it's down again :nerd:
  • #2,438
  • Aug 25, 2009 9:15am Aug 25, 2009 9:15am
I think G/J is going to go down. Gotta miss it. But if it goes down, it will be high probability that up trend will reverse and we will have more Sundays safer opportunities in the nearest future.
  • #2,439
  • Aug 25, 2009 9:19am Aug 25, 2009 9:19am
Quoting Bloodless
Damn, stop hit at BE after closing half of my position on TP1. Now it's down again :nerd:

Do not worry, just stick to the plan. It will bring you nice %%%.
I am 1% down so far this week on all my Ace system testing accounts and it is LIVE money.
But guys and I personally back tested this system. it is simple and robust. Nothing to break down. G/J is always a volatile pair. We will have our cake sooner or later if we open trades with signals and let them run to bigger profit targets.
  • #2,440
  • Aug 25, 2009 9:25am Aug 25, 2009 9:25am
Hi, hopefully you all don't mine I ask this question in this thread and the original coder don't mind if I change the indicator a bit.

Question
if ( [i]1 == TimeDayOfWeek(Time) && 1 != TimeDayOfWeek(Time[i+1]) )
{
H4High = iHigh(0,PERIOD_H4,i);
H4Low = iLow(0,PERIOD_H4,i);
}

Anyone know how to change to above to count the high and low of the first stick of a day instead of first stick of a week?

Thanks
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