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4H Box Breakout

  • #3,081
  • Sep 1, 2009 7:58am Sep 1, 2009 7:58am
2 consecutive full losses ... I know itīs against the original rules, but how probable it is to have a 3rd consecutive loss ?

I mean, anyone would take the short order again for a second time ?
  • #3,082
  • Sep 1, 2009 8:02am Sep 1, 2009 8:02am
Quoting yen44x
For those of you who may have started this system in the last 2 or 3 weeks, it's been a rough road. This is the third consecutive week that I'm done trading on Tuesday. That's the bad news.

Here's the good news: Remarkably, despite winning only 12 of 30 trades in August, I ended the month up 8.73%. That's due to the fantastic R:R of this system.

So, if anyone's just getting started, hang in there . . . it's worth the wait. In the meantime, I'm off for 5 days again.

*In regard to the attachment, I stopped trading EUR/JPY this week,...
Hi,

Thanks for posting that i did start this 3 weeks ago & was starting to wonder in it was worth the 2am wake up call but i'll defenatly keep trying for some more weeks

Good luck for next week
  • #3,083
  • Sep 1, 2009 8:20am Sep 1, 2009 8:20am
Hi Guys!

I decided not to use the box this week because there was a poll last week-end in Japan. The opening candle is quite big and I thought it wouldn't work. I believe it was a wise decision. I'll try again next week. This system is still powerful I have to reckon...
Trading is all about Timing.
  • #3,084
  • Sep 1, 2009 8:20am Sep 1, 2009 8:20am
I open another short, but keep long side.
Maybe I wait for some days.
I dont close into box, I wait outside with B/E
  • #3,085
  • Sep 1, 2009 8:21am Sep 1, 2009 8:21am
I told from the very start that if we have 1 loss no more trading for the week. Only if it is win or BE we can trade. With 100% box stop loss win/ loss R:R is just not enough to cover 2 weekly losses.
Since no on if first trade is loss this is what I call a week.
However, i am already short with 50% stop loss of the box., R:R is good. I want to test it to the full.
  • #3,086
  • Sep 1, 2009 8:23am Sep 1, 2009 8:23am
I took a second foray into a short trade at the same entry point as the first losing short trade. I am only trading 1 nano lot, so no real money involved. This limited involvement still keeps me interested in the dynamics of this trading system.
  • #3,087
  • Sep 1, 2009 8:29am Sep 1, 2009 8:29am
Quoting Bobcat2
I took a second foray into a short trade at the same entry point as the first losing short trade. I am only trading 1 nano lot, so no real money involved. This limited involvement still keeps me interested in the dynamics of this trading system.

I entered with 50% of the box position. This account will take all signals till Thursday. Because R:R in case of breakout and win is so good.
  • #3,088
  • Sep 1, 2009 8:36am Sep 1, 2009 8:36am
shiko is that rule SL=50% of box working , how was it on history, i assume u have checked that if you're going live

and: "I told from the very start that if we have 1 loss no more trading for the week. " and this rule?

in first post there is stated (in questions & answers)

One long pending order
One Short pending order
Leave both there along with TPs on both sides until the end of the week. Keep them both there even if TP or SL on one side is hit.
  • #3,089
  • Sep 1, 2009 8:37am Sep 1, 2009 8:37am
With US news release at 3pm GMT (expected to be positive), I would go Long now. This is just my personal opinion, nothing to do with the box...
Trading is all about Timing.
  • #3,090
  • Sep 1, 2009 8:44am Sep 1, 2009 8:44am
Quoting cinex
shiko is that rule SL=50% of box working , how was it on history, i assume u have checked that if you're going live

and: "I told from the very start that if we have 1 loss no more trading for the week. " and this rule?

in first post there is stated (in questions & answers)

One long pending order
One Short pending order
Leave both there along with TPs on both sides until the end of the week. Keep them both there even if TP or SL on one side is hit.

I am testing.
100% stop loss with orders on both side is done for a week.
I actually believe there is only 1 trade for a week if it is losing trade. I will follow this rule now.
But 50% of the box? well, I trade it like this because R:R with TP3 is high enough. It is 6:1 R:R. I am not trading much money, only $200 with this rule risking only 1% per trade. Trading live is a key. Discipline must be 100% and Demo is not providing right attitude.
  • #3,091
  • Sep 1, 2009 9:08am Sep 1, 2009 9:08am
I actually went long on my discretionary account. Nice pips.
  • #3,092
  • Sep 1, 2009 9:14am Sep 1, 2009 9:14am
This pimp gonna burst, but in what direction. The strategy is great but timing to start was bad. Some guys were lucky to start 2-3 months earlier. Anyway, the whole point is to stick with rules in good or bad times. Keep losses small and let profits run.
50% stop loss I am testing and I have feeling due to high R:R ratio when market chooses direction I will be back in the money. Outside of 50% stop loss, I follow revised by Danno96 rules:
TP1. Move stop loss to BE+20 pips.
After reaching TP2 , move it to TP1 and let it run.
  • #3,093
  • Sep 1, 2009 9:15am Sep 1, 2009 9:15am
Quoting shiko
I am testing.
100% stop loss with orders on both side is done for a week.
I actually believe there is only 1 trade for a week if it is losing trade. I will follow this rule now.
But 50% of the box? well, I trade it like this because R:R with TP3 is high enough. It is 6:1 R:R.
shiko ok there is R:R but there is also ratio of winning/losing trades
and setting SL@50% will definetly increase number of losing trades the question is in what degree, of course it doesnt have to mean less profits i dont know i havn't tested that rule.
  • #3,094
  • Sep 1, 2009 9:18am Sep 1, 2009 9:18am
Yes, I am on vacation starting this Saturday and will be back only October 4.
I am sure I will miss some moves. bad luck.
  • #3,095
  • Sep 1, 2009 9:19am Sep 1, 2009 9:19am
The 50% Box SL rule variation has already worked on both the long and short trades this week effectively cutting losses in half.
  • #3,096
  • Sep 1, 2009 9:21am Sep 1, 2009 9:21am
Quoting cinex
shiko ok there is R:R but there is also ratio of winning/losing trades
and setting SL@50% will definetly increase number of losing trades the question is in what degree, of course it doesnt have to mean less profits i dont know i havn't tested that rule.
I know, but if you have not noticed when the big move starts there tends to be 2-4 weeks of TP3 winners. and when market really moves it never comes to hit even 50% of the box. Momentum. Right now it is indecision.
1 win covers 6 losses.
I want see and I want to feel it real not game.
  • #3,097
  • Sep 1, 2009 9:23am Sep 1, 2009 9:23am
Quoting Bobcat2
The 50% Box SL rule variation has already worked on both the long and short trades this week effectively cutting losses in half.
exactly. It also gives an opportunity to cash big on even TP3 move. Right now we are at cross road. I am sure, you will bag nice rabbits but I will be away since Saturday for 4 weeks.
  • #3,098
  • Sep 1, 2009 9:45am Sep 1, 2009 9:45am
Your commentary will be missed...hurry back!
  • #3,099
  • Sep 1, 2009 10:11am Sep 1, 2009 10:11am
he he, I am short again
  • #3,100
  • Sep 1, 2009 10:28am Sep 1, 2009 10:28am
Quoting Bobcat2
Your commentary will be missed...hurry back!

Thanks Bob. I enjoy being here among like minded men
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