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4H Box Breakout

  • #3,021
  • Aug 31, 2009 11:26pm Aug 31, 2009 11:26pm
Quoting iansr1
Well my short trade is getting close to my stop at 152.455, but my charts show a resistance line at 152.356? Hopefully it will hold out!

yup mine too. my stop loss is at 152.17. Hopefully it holds out too
  • #3,022
  • Aug 31, 2009 11:26pm Aug 31, 2009 11:26pm
the price is still in the box.... now already -140 pips
Trading Forever !!!
  • #3,023
  • Aug 31, 2009 11:34pm Aug 31, 2009 11:34pm
Hi Ace,

Just finish reading the whole thread and I have to thank you for sharing such a great system.

I have 1 conclusion after the reading, to anyone who just discover this thread, please read and understand Ace's 1st post and you be fine.

Thanks again Ace, have a good one.
  • #3,024
  • Aug 31, 2009 11:40pm Aug 31, 2009 11:40pm
Quoting vito88id
yup mine too. my stop loss is at 152.17. Hopefully it holds out too
If youīre following ACEīs system I think your SL should be in 152.37, am I ok?

You should Sl up of the box, you should add the buffer of 20 to the high of the first 4 h candle.
  • #3,025
  • Aug 31, 2009 11:42pm Aug 31, 2009 11:42pm
Quoting anasmi
Hi Ace,

Just finish reading the whole thread and I have to thank you for sharing such a great system.

I have 1 conclusion after the reading, to anyone who just discover this thread, please read and understand Ace's 1st post and you be fine.

Thanks again Ace, have a good one.
thx for the reminding, even if we got stop out today doesnt mean something wrong with the system.

rem the flipping coin win add 2 pts lose deduct 1 pt? tats the key.

Aus cash rates news just release dumping most usd and jpy pairs down a little.

upcoming news tonight might have impact to the PA and light up the path.

4:30pm GBP
Manufacturing PMI

51.550.8
4:30pm GBP
Net Lending to Individuals m/m

0.4B0.4B
4:30pm GBP
Mortgage Approvals

51K48K
5:00pm EUR
Unemployment Rate

9.5%9.4%
10:00pm USD
ISM Manufacturing PMI

50.648.9
10:00pm USD
Pending Home Sales m/m

1.7%3.6%
trade safe
  • #3,026
  • Sep 1, 2009 12:32am Sep 1, 2009 12:32am
Quoting Ace284
I understand that you're not losing anything, but it's taking up unnecessary space on the thread. That's the one of the main things I want to avoid hearing, constant speculation about what may or may not happen. We can all see which way price is moving at the moment. So there's no reason to reiterate that...again and again. If you have solid S/R reasons, or some other long term form of technical analysis then you should post it. But these are the kind of posts that we expect to see in the Interactive Section not in this thread.

Glad you understand...

Ace, Bobcat, Yen, Wrenski.... thank you very much for your words against the clutter of these thread. I'm a silent reader of these thread and FF overall. Considering the clutter of the thread makes it more and more difficult to keep silence.

I followed the thread from the very beginning and was glad about the clearness and constructive contributions by a few members of FF. Btw, my big thanks to you guys.

Let me give you an example of a trader/poster (or anything else). I like to make statistics because it can make successful in FX .

He/she wrote till today 226 meaningless chit-chat posts within 82 pages, almost 3 posts per page. This are 15 pages from one guy in this thread. That means, the thread could be 15 pages smaller only by one person.

I'm using the very first time in FF the ''Ignore list''. And please believe me, it helps. Thanks to FF for the great tool.

My best regards, Steve
  • #3,027
  • Sep 1, 2009 12:36am Sep 1, 2009 12:36am
Politic is a very important issue in every trading or investment. I thought will have great strom yesterday, so I didn't trade, just want to stay out of the strom.

However, I just set orders today base on the candle just form few hours ago... Hopefully will see some move when UK open...
  • #3,028
  • Sep 1, 2009 12:38am Sep 1, 2009 12:38am
Quoting DarkDays
Thanks for sharing your method with us Ace. I have read over the thread and will be trading this live with you all over the coming weeks.
Quoting anasmi
Just finish reading the whole thread and I have to thank you for sharing such a great system.

I have 1 conclusion after the reading, to anyone who just discover this thread, please read and understand Ace's 1st post and you be fine.
Quoting danc
After some of the dribble i have seen posted I dont blame you.. Are they serious ?? or just running interference..???Mate i dunno why you reply..
Alright, this has got to end. Suddenly everyone is making sense . . . newcomers who have actually read the thread and know how the system works.

If this continues, there won't be any more of the "dribble" that danc referred to. BTW, danc, I don't consider it dribble. For me, it's more like fuel for the humor machine. Up until now there's been plenty of fuel, but if every newcomer to the thread starts following your example . . . oh, never mind, it'll never happen.

With all that said, welcome to the thread.
Greetings from Guanajuato, Mexico
  • #3,029
  • Sep 1, 2009 12:42am Sep 1, 2009 12:42am
Quoting pips info
Politic is a very important issue in every trading or investment. I thought will have great strom yesterday, so I didn't trade, just want to stay out of the strom.

However, I just set orders today base on the candle just form few hours ago... Hopefully will see some move when UK open...
In hindsight, you may have made the right decision. I was thinking of doing the same for the Labor Day holiday in the U.S. next Monday. Let us know how your week goes.
Greetings from Guanajuato, Mexico
  • #3,030
  • Sep 1, 2009 12:59am Sep 1, 2009 12:59am
Quoting yen44x
In hindsight, you may have made the right decision. I was thinking of doing the same for the Labor Day holiday in the U.S. next Monday. Let us know how your week goes.
Yup, may be will do the same next week but I think it will have not much effect because GBP/JPY mainly is referring to Japan and UK only.

Btw, I don't trade U/J also because the U/J movement is too slow if compare to G/J or E/J.
  • #3,031
  • Sep 1, 2009 1:14am Sep 1, 2009 1:14am
Aiee got kicked on my EJ and GJ is next to come....went long GU on my other strat so im up there.

The force is strong in the GBP right now.... /cheezy line
  • #3,032
  • Sep 1, 2009 1:24am Sep 1, 2009 1:24am
100% SL HIT
Trading Forever !!!
  • #3,033
  • Sep 1, 2009 1:33am Sep 1, 2009 1:33am
Quoting cscheat
100% SL HIT
My SL is in 152.37, up of the box, not still hit... but very near...
  • #3,034
  • Sep 1, 2009 1:44am Sep 1, 2009 1:44am
Quoting lugarejo
My SL is in 152.37, up of the box, not still hit... but very near...
Lugarejo you are right, and donīt forget this is the place (152.37 + spread) where your long order for the week will be triggered, as per original rules.
  • #3,035
  • Sep 1, 2009 1:57am Sep 1, 2009 1:57am
Quoting Fms
Lugarejo you are right, and donīt forget this is the place (152.37 + spread) where your long order for the week will be triggered, as per original rules.
Ok, so if the SL is triggered the long order is also triggered... itīs very near... I think is going to hit soon...
  • #3,036
  • Sep 1, 2009 2:01am Sep 1, 2009 2:01am
At first I was a bit upset at this week's short trade loss. But, now that the opposite side of the box SL has been hit (Oanda), I'm relieved. Why? Because I took my own advice in setting my SL @ 50% of the box. Granted, this is only one trade, and surely more testing needs to be done. However, eyeballing all the trades going back to the beginning of May this year, there was only one or possibly two losing trades where the price didn't eventually reach 100% once price retraced to 50%.

Switching from 100% to 50% will make a huge difference in the R/R ratio, so long as it doesn't turn a prohibitive number of profitable trades into losers.

Please go back and review the losing trades for yourself and let me know if you come to the same conclusion.
  • #3,037
  • Sep 1, 2009 2:02am Sep 1, 2009 2:02am
Quoting lugarejo
My SL is in 152.37, up of the box, not still hit... but very near...

Not hit yet??? Damn, I am really trying hard !!!
Good to have few accounts
  • #3,038
  • Sep 1, 2009 2:04am Sep 1, 2009 2:04am
My bad, my stop loss is at 152.57
  • #3,039
  • Sep 1, 2009 2:04am Sep 1, 2009 2:04am
OK, well, it looks like we might go long after all.
  • #3,040
  • Sep 1, 2009 2:07am Sep 1, 2009 2:07am
Quoting Bobcat2
At first I was a bit upset at this week's short trade loss. But, now that the opposite side of the box SL has been hit (Oanda), I'm relieved. Why? Because I took my own advice in setting my SL @ 50% of the box. Granted, this is only one trade, and surely more testing needs to be done. However, eyeballing all the trades going back to the beginning of May this year, there was only one or possibly two losing trades where the price didn't eventually reach 100% once price retraced to 50%.

Switching from 100% to 50% will make a huge difference in the...

Bob, how are you calculating your box with Oanda? strictly speaking, the box top should be 152.50-152.52. I set it at 152.57 because of R1. set it 5 pips above R1 for the day. last time it hit and reversed and went back into profit.
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