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4H Box Breakout

  • #2,921
  • Aug 31, 2009 2:13am Aug 31, 2009 2:13am
I am on fxdd now, the box low is 150.71, high is 152.37, did you all get the same number?
  • #2,922
  • Edited 2:55am Aug 31, 2009 2:36am | Edited 2:55am
Quoting lkthomas
I am on fxdd now, the box low is 150.71, high is 152.37, did you all get the same number?
if looking at fxdd,yes its the same.. but targeting my first profit is diff.. original system use the original high n low of the box while im using the high n low of the candle..
  • #2,923
  • Aug 31, 2009 2:55am Aug 31, 2009 2:55am
i figure now there are less strength for sell movement, if it break the trendline it will bounce up. Same situation at daily support Aug-Sept 2000

Carefull guys
  • #2,924
  • Aug 31, 2009 3:01am Aug 31, 2009 3:01am
Quoting hafizal79
i figure now there are less strength for sell movement, if it break the trendline it will bounce up. Same situation at daily support Aug-Sept 2000

Carefull guys
yup.. thats what im seeing right now.. same goes to e/j.. my chf/jpy,i close my pending order.. not risking it.. got the feeling price gona hit my 50% SL..
i add stoch indicator n it shows that price is oversold.. rsi is getting up..
  • #2,925
  • Aug 31, 2009 4:06am Aug 31, 2009 4:06am
Quoting Freako

my short was at 150.480..
i am 150.49 ! now - 50pips ....
Trading Forever !!!
  • #2,926
  • Aug 31, 2009 4:09am Aug 31, 2009 4:09am
I figure out the price now entering the box , it will hit SL.. Waiting for long trade trigger.
  • #2,927
  • Aug 31, 2009 4:17am Aug 31, 2009 4:17am
Quoting hafizal79
I figure out the price now entering the box , it will hit SL.. Waiting for long trade trigger.
hafizal, we must have fate in the system ! GJ cepat runtuh !
Trading Forever !!!
  • #2,928
  • Aug 31, 2009 4:48am Aug 31, 2009 4:48am
hey guys...the first 4hrs candle on fxdd prices are:
High...152.17
Low....150.91

This is the 00:00 candle which is the first candle f the week and not the previous candle whose high price is 152.71

take note...just wanted to point this out
The World As It Is Can Do With Your Positive Disposition
  • #2,929
  • Aug 31, 2009 5:06am Aug 31, 2009 5:06am
Quoting liberty71
hey guys...the first 4hrs candle on fxdd prices are:
High...152.17
Low....150.91

This is the 00:00 candle which is the first candle f the week and not the previous candle whose high price is 152.71

take note...just wanted to point this out
I found asmall bug in the indicator or FXDD platform,
in FXDD my box size today at 00:00 first 4h candle was 60 pips. lol.
I had to remove both indicators, restart FXDD and re-add the 2 indis, then it displayed everything correctly again.

Might be good to double check it before you set your orders guys, trust the candle first, Price is always right.
  • #2,930
  • Aug 31, 2009 5:10am Aug 31, 2009 5:10am
Hi Friends,
I am one of those selfish FF members who does a lot of reading without contributing! Here's my attempt to change that.


First of all I send big thanks to Ace and the other regular posters in this thread who make a huge effort to help each other be profitable, you are all doing a great service.

I have been trading this strategy for around 3 months now. I trade pretty much to the letter according to Ace's first post with some great success so far.
Of course I add some of my personal knowledge of the FX market to determine the best exit points etc.

Admittedly I tend to take smaller profits.. (some weeks I am happy to close my trades at TP1) But I haven't had a single loosing week since all this started back in May!

The last 6 weeks I have been trading live with a substantial amount of money (Enough to make a living from the profits)
I risk 5% of my account each week, split between 4 currencies
GBP/USD
GBP/JPY
USD/JPY
EUR/JPY
I'm aware that GBP/JPY produces the best results, but I still feel its more sensible to divide the risk up to prevent any disasters. These 4 pairs seem to be the "top" 4 from my own personal backtests.

I noticed there has been a lot of discussion about the lack of performance of this method in previous years (pre-2007)
However I think its important not to loose sight of the fact that this system is working RIGHT NOW and while its still performing just RUN WITH IT!!!

Price action varies from year to year, its our job as traders to be constantly analyzing the market and trade the most appropriate system accordingly. I'm sure there are many strategies the were profitable circa 2004, that would fail in todays market.
My point being Don't miss the train! Trade this method while its working and be happy!!

PS, I didn't trade this week due to the UK Bank holiday. But next week I will be in full swing and will post my thoughts/results if they are welcome.

Peace, And good luck with your trades this week
J
  • #2,931
  • Aug 31, 2009 5:14am Aug 31, 2009 5:14am
Quoting NirvanaFin
Hi Friends,
I am one of those selfish FF members who does a lot of reading without contributing! Here's my attempt to change that.


First of all I send big thanks to Ace and the other regular posters in this thread who make a huge effort to help each other be profitable, you are all doing a great service.

I have been trading this strategy for around 3 months now. I trade pretty much to the letter according to Ace's first post with some great success so far.
Of course I add some of my personal knowledge of the FX market to determine the best...
NirvanaFin, mind to share results ?
Trading Forever !!!
  • #2,932
  • Aug 31, 2009 5:20am Aug 31, 2009 5:20am
Quoting cscheat
NirvanaFin, mind to share results ?
Sure, Just give me a few mins while I figure out how to post images
  • #2,933
  • Aug 31, 2009 5:32am Aug 31, 2009 5:32am
@ cscheats,

Backtest on the charts tells all the story...it has bn working and with what I see on the chart, I'll give this system 90% success rate..at least for the past 8months
The World As It Is Can Do With Your Positive Disposition
  • #2,934
  • Aug 31, 2009 5:33am Aug 31, 2009 5:33am
I use Oanda, and FxHit to analyze my results.

http://img269.imageshack.us/img269/917/results1n.jpg

http://img5.imageshack.us/img5/6263/results2.jpg

The images show that between 8th July and 19th August 2009, the method made 1064pips, or a shade under 14% profit

Edit, sorry the images are small/blurry, but I think they are just about readable
  • #2,935
  • Aug 31, 2009 5:45am Aug 31, 2009 5:45am
Quoting NirvanaFin
I use Oanda, and FxHit to analyze my results.
The images show that between 8th July and 19th August 2009, the method made 1064pips, or a shade under 14% profit

Edit, sorry the images are small/blurry, but I think they are just about readable
Thanks for the posting of results Nirvana ! btw, are you trading full time using this ?
Trading Forever !!!
  • #2,936
  • Aug 31, 2009 5:53am Aug 31, 2009 5:53am
Quoting cscheat
Thanks for the posting of results Nirvana ! btw, are you trading full time using this ?
I trade full time yes. Although I don't withdraw any profits yet, everything gets re-invested
  • #2,937
  • Aug 31, 2009 6:04am Aug 31, 2009 6:04am
Quoting NirvanaFin
I trade full time yes. Although I don't withdraw any profits yet, everything gets re-invested
wow ! that's cooL ! only this system alone ROCKS !!!!!!!!!!!!!!!!!!!!!!!!
Trading Forever !!!
  • #2,938
  • Aug 31, 2009 6:35am Aug 31, 2009 6:35am
Quoting cscheat
wow ! that's cooL ! only this system alone ROCKS !!!!!!!!!!!!!!!!!!!!!!!!
For me this kind of strategy is the only way to trade.
Playing the probabilities. I don't use any indicators, not even pivots! Just a few trendlines to highlight areas where there "might" be support/resistance.
  • #2,939
  • Aug 31, 2009 6:43am Aug 31, 2009 6:43am
Quoting NirvanaFin
Hi Friends,
I am one of those selfish FF members who does a lot of reading without contributing! Here's my attempt to change that.


First of all I send big thanks to Ace and the other regular posters in this thread who make a huge effort to help each other be profitable, you are all doing a great service.

I have been trading this strategy for around 3 months now. I trade pretty much to the letter according to Ace's first post with some great success so far.
Of course I add some of my personal knowledge of the FX market to determine the...
Nirvana please note next Monday is Labor Day in the US so US banks are closed.

Sandy
  • #2,940
  • Aug 31, 2009 6:49am Aug 31, 2009 6:49am
Quoting LegoFx
Hey Ronald!

Thanks again for putting the time to create this EA and also to answer my questions, here I have a few more

1) There is a check you do that is driving me crazy because I have no idea why you do it :-):

if (EachTickMode && (Bars != CloseBarCount))
TickCheck = False;

I know what you use eachTickMode for, but Not sure what you are checking when you do the Bars != CloseBarCount and what is the implication of that; why is TickCheck so important?

2) Why do you do this...
EachTickMode is a function which--if set to true--allows the EA to place a trade immediately when a signal appears. When set to false, the EA will place a trade if there is a signal at the end of a bar.

OpenBarCount and CloseBarCount keep track of the number of bars that have passed. If OpenBarCount or CloseBarCount do not equal the number of bars that passed, then the EA knows that it has not placed a trade yet. TickCheck allows the EA to confirm that it has already analyzed the various indicators and studies for that tick.

You're solution works, here's why I don't use it.

Some people use this 4H box breakout on other timeframes. The lowest I've heard of is 5M. And this person presumably uses it to scalp more than anything else. During the initial breakout, the price is indeed greater than or equal to the long entry line. The trade is closed 3 bars later at + 20 pips. Suddenly, the EA opens another trade, on a bar that is already completely outside the box. The point of (Open[Current] < LongEntry) && is to make sure that the current bar started inside the range.
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