4H Box Breakout | Page 123 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Box Breakout indicator 197 replies

Breakout EA based on New York Box 3 replies

4H Weekly Box Breakout [TD] 4 replies

EURUSD Box Breakout 6 replies

Breakout Box 5 replies

Attachments: 4H Box Breakout
Exit Attachments

4H Box Breakout

  • #2,441
  • Aug 25, 2009 9:26am Aug 25, 2009 9:26am
Quoting banana9009
only 2 trade /week
so the answer is NO
Just to make sure, is the 2 trades you're refering to the Short and Long entry order at the first 4h candle of the week?

Meaning we have 1 certain trade per week and 1 possible trade?

Or am i missing something here?
  • #2,442
  • Aug 25, 2009 9:31am Aug 25, 2009 9:31am
Quoting Jesper
Just to make sure, is the 2 trades you're refering to the Short and Long entry order at the first 4h candle of the week?

Meaning we have 1 certain trade per week and 1 possible trade?

Or am i missing something here?


First weekly candle closed on FXDD. You calculate box size by adding buffers and spread for long order. set 2 orders. 1 long and one short. these are 2 trades for a week. 1 long and 1 short.
  • #2,443
  • Edited 10:06am Aug 25, 2009 9:35am | Edited 10:06am
Hi Ace,

There are so many variations of this strategy it makes my head spin! lol

I'm wondering how much consideration you paid to setting the initial SL to the opposite side of the box? I need to do some backtesting on this, but many box traders place the initial SL at the midpoint (50%) of the box. With the initial SL set at 50% of the box, the opening risk is reduced by 1/2. You could double the lot size and increase profitability unless 50% is retraced too often. Or, you could afford twice as many losing trades for the same risk exposure unless too many additional losses cost you the important long trend opportunities.

Utilizing the 50% box SL, there is less need to move the SL to BE when TP1 is hit. So...we would set the initial SL to 50% of the box, and not move it. This is where we can gain additional breathing room for the trade to develop. This additional breathing room was needed for this week's trade. The 50% box variation would have us still in the trade for this week with a current profit of about 100 pips.

Ace's original rules would also have us in the trade at the same profit level, but the risk getting there was twice as much.

Another advantage would be that since the risk to reward ratio is cut in half, we could start taking partial profits earlier such as TP1.

I've also seen some fib box studies where 68.2% retracement is hit, price is likely to continue to the opposite side of the box. This may be a good compromise. What do you think?

Thanks Bro!
  • #2,444
  • Aug 25, 2009 9:45am Aug 25, 2009 9:45am
My work week ends on Tuesday again this week.

I was part of the Long trade too this week, but I have no one to blame but myself. I set the buffer at 10 pips and paid the price this week with a loss that didn't happen for those with a 20-pip buffer.

I've tracked results since the start of August and here's what amazes me about this system: I've been in 26 trades. Only 12 were winners, with 4 more at BE +20, and yet the account is up over 18%. That's indicative of the great R:R built into this system.

Another indicator is the average pips per trade. I'm at almost 40 pips profit per trade with less than a 50% win pct. Kudos to the 4H Box System and Ace for sharing it.
Attached Image (click to enlarge)
Click to Enlarge Name: 4H Box Trades-09-0823.jpg Size: 49 KB
Greetings from Guanajuato, Mexico
  • #2,445
  • Aug 25, 2009 9:51am Aug 25, 2009 9:51am
It's out for us this week.

My GY short that I had moved to BE when the price moved to TP1 just got stopped. And what happened next? The price dropped again another 121 pips.

Cheeky

so what is my plan?? Well, I will not take another short, my longs orders are still in place, perhaps I shall just wait for the next setup next Sunday,

Sods law should dictate that it will finally break south through the support
Just for today, do not worry...
  • #2,446
  • Aug 25, 2009 9:56am Aug 25, 2009 9:56am
Can you pls PM me
Tks
David

Quoting shiko
I have data only from January 1, 2009. Return for 33 weeks with risk of 1% per trade trading G/J only was 34% for TP3 and 32% for TP4.
With setting stop loss to B?E after 50 pips in profit return has been 29%. Take 50% profit after 50 pips in profit has been up 17%.
  • #2,447
  • Aug 25, 2009 10:00am Aug 25, 2009 10:00am
Quoting yen44x
My work week ends on Tuesday again this week.

I was part of the Long trade too this week, but I have no one to blame but myself. I set the buffer at 10 pips and paid the price this week with a loss that didn't happen for those with a 20-pip buffer.

I've tracked results since the start of August and here's what amazes me about this system: I've been in 26 trades. Only 12 were winners, with 4 more at BE +20, and yet the account is up over 18%. That's indicative of the great R:R built into this system.

Another indicator is the average pips per trade....


This is a great strategy!

I am 1% down on all 4 accounts too. There was no chance to use different money management rules. Have only myself to blame as well.

Yen, how much are you risking per trade? also 1% like me?
  • #2,448
  • Aug 25, 2009 10:00am Aug 25, 2009 10:00am
Quoting yen44x
My work week ends on Tuesday again this week.

I was part of the Long trade too this week, but I have no one to blame but myself. I set the buffer at 10 pips and paid the price this week with a loss that didn't happen for those with a 20-pip buffer.

I've tracked results since the start of August and here's what amazes me about this system: I've been in 26 trades. Only 12 were winners, with 4 more at BE +20, and yet the account is up over 18%. That's indicative of the great R:R built into this system.

Another indicator is the average pips per trade....


This is a great strategy!

I am 1% down on all 4 accounts too. There was no chance to use different money management rules. Have only myself to blame as well.

Yen, how much are you risking per trade? also 1% like me?

Have you been trading this strategy since August 2008 last year?
  • #2,449
  • Aug 25, 2009 10:01am Aug 25, 2009 10:01am
Quoting Bobcat2
Hi Ace,

There are so many variations of this strategy it makes my head spin! lol

I'm wondering how much consideration you paid to setting the initial SL to the opposite side of the box? I need to do some backtesting on this, but many box traders place the initial SL at the midpoint (50%) of the box. With the initial SL set at 50% of the box, the opening risk is reduced by 1/2. You could double the lot size and increase profitability unless 50% is retraced too often. Or, you could afford twice as many losing trades for the same risk exposure...
im using 50% sl instead of the other side of the box..
  • #2,450
  • Aug 25, 2009 10:02am Aug 25, 2009 10:02am
We also should not forget not only about R:R ratio but about how much time we have to spend to generate certain return. With this strategy this ratio is perfect.
  • #2,451
  • Aug 25, 2009 10:08am Aug 25, 2009 10:08am
Quoting shiko
This is a great strategy!

I am 1% down on all 4 accounts too. There was no chance to use different money management rules. Have only myself to blame as well.

Yen, how much are you risking per trade? also 1% like me?
I'm more in the 2% area on this account, but 1% is a sound strategy for a live account IMO. Keep in mind that what I'm posting is from a demo account, because that's where I test any modifications to the system. Like you, I've also started to trade the system live, but I'll keep posting the results from the demo account simply because there's more data to show since I started that account earlier.
Greetings from Guanajuato, Mexico
  • #2,452
  • Aug 25, 2009 10:10am Aug 25, 2009 10:10am
Quoting shiko
We also should not forget not only about R:R ratio but about how much time we have to spend to generate certain return. With this strategy this ratio is perfect.
Hi shiko,

Please elaborate...not certain what you mean by, "how much time we have to spend to generate certain return."

Thanks.
  • #2,453
  • Aug 25, 2009 10:13am Aug 25, 2009 10:13am
Quoting Freako
im using 50% sl instead of the other side of the box..
Hi Freako,

Glad to know someone is trading the 50% box SL, if nothing more than to determine its effectiveness. Could you please share how long you have been trading this way and what your results have been?

Should be enlightening...
  • #2,454
  • Aug 25, 2009 10:14am Aug 25, 2009 10:14am
Quoting david4u
Can you pls PM me
Tks
David

I sent. have you got it?
  • #2,455
  • Aug 25, 2009 10:17am Aug 25, 2009 10:17am
Quoting Bobcat2
Hi shiko,

Please elaborate...not certain what you mean by, "how much time we have to spend to generate certain return."

Thanks.
By this I mean how long you have to trade to generate certa8in return. This system we spend little time trading . Relatively to time spent return is good.
When scalping I spend hours watching for safer opportunity.
I want to move away from scalping.
  • #2,456
  • Aug 25, 2009 10:17am Aug 25, 2009 10:17am
Quoting Bobcat2
Hi Freako,

Glad to know someone is trading the 50% box SL, if nothing more than to determine its effectiveness. Could you please share how long you have been trading this way and what your results have been?

Should be enlightening...
I'd be very interested as well. It's an intriguing concept if it's actually more profitable over time. I would also be interested to know if you or Freako did any backtesting to validate the modification.

I'm not normally a big believer in backtesting most systems, but this system is so simple that backtesting seems easier to interpret.
Greetings from Guanajuato, Mexico
  • #2,457
  • Aug 25, 2009 10:27am Aug 25, 2009 10:27am
Hi to all of the fellow traders of the ace's 4h breakout system. i'm done for the week too. hpefully next month were gonna be back to volatility and trending market. i'm tired of this august ranging. still closed the month with 7% profit in my account so not that bad . As far for the 50% of the box as SL, i personally draw 1 fib on the first bar of the week and search for the 75% level to stick my sl there. Nice to hear some thoughts on that.

BTW.... Ace's 4h is the only system i trade...so kudus to Ace!!!
  • #2,458
  • Aug 25, 2009 10:27am Aug 25, 2009 10:27am
Quoting Bobcat2
Hi Freako,

Glad to know someone is trading the 50% box SL, if nothing more than to determine its effectiveness. Could you please share how long you have been trading this way and what your results have been?

Should be enlightening...
ive just started using this system live with no demo at all on 10aug this year with 30usd on fxcm micro.. yes it is riduculous to start an account of 30usd.. with that amount of equity,im taking a big risk with no mm cos i cant calculate how much risk% im risking.. i like to see my account grow slowly.. i place only 1micro lot starting of the account on week of 10aug n my account manage to reach ard 60+usd.. last week i did not trade cos price bypass my entry when i log into trade station so i did not enter even 20pips going my way.. this week 24aug,i started back using 2micro lot with 3pair.. e/j,g/j,chf,jpy.. currently my account is 102usd.. i put sl to b/e when price reach roughly between my entry n tp1,den if price reach tp1,i close half my postion then i move my sl to between my entry n tp1.. just try to understand my english cos im poor at it.. i dont like giving pips back.. eventhough we trade on 4hr chart,i do keep a lookout on my trade..
  • #2,459
  • Aug 25, 2009 10:30am Aug 25, 2009 10:30am
Quoting Freako
ive just started using this system live with no demo at all on 10aug this year with 30usd on fxcm micro.. yes it is riduculous to start an account of 30usd.. with that amount of equity,im taking a big risk with no mm cos i cant calculate how much risk% im risking.. i like to see my account grow slowly.. i place only 1micro lot starting of the account on week of 10aug n my account manage to reach ard 60+usd.. last week i did not trade cos price bypass my entry when i log into trade station so i did not enter even 20pips going my way.. this week 24aug,i...
Congrats on your growing account. keep it steady!
  • #2,460
  • Aug 25, 2009 10:42am Aug 25, 2009 10:42am
Quoting faxfxfx
It's out for us this week.

My GY short that I had moved to BE when the price moved to TP1 just got stopped. And what happened next? The price dropped again another 121 pips.

Cheeky

so what is my plan?? Well, I will not take another short, my longs orders are still in place, perhaps I shall just wait for the next setup next Sunday,

Sods law should dictate that it will finally break south through the support
Yes every week the guys on the boards who analyze GJ say it's due for a big drop. Hasn't happened yet but I'm sure it will. The great thing is this system just works off of Price Action.
1 trader viewing now