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4H Box Breakout

  • #3,301
  • Edited 7:46am Sep 5, 2009 7:20am | Edited 7:46am
the 200 ema is a line and means absolutely nothing. Any EMA can make things look good. just throw one on /// 20 30 50 100 200 ....Testing of various stoplosses levels would be awesome. All want to maximize pips-- good thread.... I like 1.61 wave extension myself before gettin out of trade. Hopefully ace will post his upgrade...All I see is up and down! The key appears to be the market open and what the world decides on direction.
  • #3,302
  • Sep 5, 2009 8:35am Sep 5, 2009 8:35am
Quoting Fms
Basomakm,

just to be sure about your idea, we look at the EMA200 applied to the 4H chart to decide the direction of the trade. If above the EMA200 only long trades, if below the EMA200 (of the 4H chart) only short trades.

Stop-loss is the TP1 of the other direction of the trade, actually 2 boxes, right ?

Thanks
Exactly thats my idea
  • #3,303
  • Sep 5, 2009 9:47am Sep 5, 2009 9:47am
Just when things were looking good...

Thank you to Jamie, for notifying me about the ebay seller. The ebay officials have already been notified and that seller has been banned. This is one of several times that I've had to deal with this. Things like that really irritate me because the system is on here for free.

In the past I got a few people posting this system on different forums. Starting blogs and such as well. I don't have a problem with that as long as the person asks for permission and gives credit where credit is due. Especially if they're going to copy my exact posts.

The sellers, I have no patience for. I got one guy who took this system and slapped an RSI on the chart...and then called it his own. Money management the same, risk management was the same...the chart background had the same colors, same indicators...but added an RSI. Thankfully, he got caught.

Another guy simply renamed it and called it his own. Again, got caught because of his copy and paste skills trying to explain the system to his sellers.

Another guy, who was a member here on FF got banned for also selling. This person sold it in a package with other stolen system. The name of the package was the only unique thing. Again, got caught...

There were three more people. One of which, completely translated it into french and tried to sell it on ebay France. Unfortunately for them, I can understand French (took French in school).

Thank you to the members and guests here on FF for notifying me about the sellers. The nature of this system allows someone to accurately backtest because there aren't repainting indicators, no folling PA and so on...which is a really good sales pitch but the bottom line is its free here on FF. Technically, everything posted here in property of FF and is all copyrighted. There are exeptions towards system creators but again its all legally owned.

***************DO NOT SELL THE SYSTEM*****************

...One serious downside with posting systems here...
  • #3,304
  • Sep 5, 2009 9:56am Sep 5, 2009 9:56am
Quoting Ace284
Just when things were looking good...

Thank you to Jamie, for notifying me about the ebay seller. The ebay officials have already been notified and that seller has been banned.
***************DO NOT SELL THE SYSTEM*****************
...One serious downside with posting systems here...
Sorry to hear about that, Ace.

It's a shame that someone would take a gift and then try to sell it. Don't let the negative vibes get to you, my man.

Thanks for all your contributions. You've made the dream of trading profitably a reality for a lot of traders, and you're to be commended for your generosity in doing that.
Greetings from Guanajuato, Mexico
  • #3,305
  • Sep 5, 2009 10:00am Sep 5, 2009 10:00am
If the idiots just traded the system they'd make more money than they ever would selling a stolen system. But then I guess that's why they're idiots.
  • #3,306
  • Sep 5, 2009 10:03am Sep 5, 2009 10:03am
Quoting nubchai
If the idiots just traded the system they'd make more money than they ever would selling a stolen system. But then I guess that's why they're idiots.
Very well stated, Sandy!
Greetings from Guanajuato, Mexico
  • #3,307
  • Sep 5, 2009 10:30am Sep 5, 2009 10:30am
Thanks Ace for your time.
We are ready when you have news.
  • #3,308
  • Sep 5, 2009 10:36am Sep 5, 2009 10:36am
Quoting Ace284
Just when things were looking good...

Thank you to Jamie, for notifying me about the ebay seller. The ebay officials have already been notified and that seller has been banned. This is one of several times that I've had to deal with this. Things like that really irritate me because the system is on here for free.

In the past I got a few people posting this system on different forums. Starting blogs and such as well. I don't have a problem with that as long as the person asks for permission and gives credit where credit is due. Especially...

lol, just ask them for money and tell them that all your family work for the police
  • #3,309
  • Sep 5, 2009 10:36am Sep 5, 2009 10:36am
It's a holiday weekend...the beginning of the college football season...the forex market has been closed for a day and won't reopen for another day...and yet, there are currently 43 traders anxiously awaiting the arrival of Ace's new trading system!

  • #3,310
  • Sep 5, 2009 10:37am Sep 5, 2009 10:37am
It's very kind of you Ace to post this system, when you could have just kept it to yourself.

Do you think by making such a system public, that it will be detrimental to the system in the end ? Or maybe it will help the system ?

Don't take that the wrong, way, it isn't a criticism in any way.

The way I see it, posting the system could,

a) Cause slippage problems as so many people will be trading the break out, although that may not be a major problem on a swing trades like this or

b) Everyone buying / selling at the same time will help to move the market in that direction or

c) The market is efficient and anything that works soon stops and maybe even counter trades will occur by those exploiting the failure of the breakout (happens with break outs, or fakeouts as they are, in the S&P out of market value areas all the time now).
  • #3,311
  • Sep 5, 2009 10:38am Sep 5, 2009 10:38am
Sorry to hear this bad news Ace. People who can't trade try to make a living selling trading systems. I learned this fact the hard way 4 years ago with my first forex endeavor. I figured if it costs a lot it has to be good.....WRONG!!
It was just a group of guys who couldn't trade so they were stealing peoples money by selling hyped up trading systems that didn't work.

I have learned more on FF for free than any where else, thanks to people like you!

W.
  • #3,312
  • Sep 5, 2009 10:43am Sep 5, 2009 10:43am
Quoting Ace284
Just when things were looking good...

Thank you to Jamie, for notifying me about the ebay seller. The ebay officials have already been notified and that seller has been banned. This is one of several times that I've had to deal with this. Things like that really irritate me because the system is on here for free.

In the past I got a few people posting this system on different forums. Starting blogs and such as well. I don't have a problem with that as long as the person asks for permission and gives credit where credit is due. Especially...
Hey Ace,

I understand your frustration. Unfortunately, scammers are lurking around every corner.

Just know that you have made a positive difference here on FF. Your knowledge and generosity is much appreciated.

I, along with everyone else here, am very much looking forward the updated variation of your breakout system.

Have a great weekend!
Addicted and proud of it!
  • #3,313
  • Sep 5, 2009 10:45am Sep 5, 2009 10:45am
Quoting Bobcat2
It's a holiday weekend...the beginning of the college football season...the forex market has been closed for a day and won't reopen for another day...and yet, there are currently 43 traders anxiously awaiting the arrival of Ace's new trading system!

nicely putcant w8 until monday1 am GMT to try the new one out live
  • #3,314
  • Sep 5, 2009 10:48am Sep 5, 2009 10:48am
Quoting Ace284
Just when things were looking good...

Thank you to Jamie, for notifying me about the ebay seller. The ebay officials have already been notified and that seller has been banned. This is one of several times that I've had to deal with this. Things like that really irritate me because the system is on here for free.

In the past I got a few people posting this system on different forums. Starting blogs and such as well. I don't have a problem with that as long as the person asks for permission and gives credit where credit is due. Especially...

That's right man, intellectual property.

This is the EXACT reason I don't want my MA trailing Stop to go beyond FF here, it is a piece of copyrighted material.

Some people just think their soo smart to just copy and paste an entire system. Shame on them, and good for you Ace, and everyone else, for catching them...
  • #3,315
  • Sep 5, 2009 10:53am Sep 5, 2009 10:53am
webart, my responses in line.


It's very kind of you Ace to post this system, when you could have just kept it to yourself.

Do you think by making such a system public, that it will be detrimental to the system in the end ? Or maybe it will help the system ?

Don't take that the wrong, way, it isn't a criticism in any way.

The way I see it, posting the system could,

a) Cause slippage problems as so many people will be trading the break out, although that may not be a major problem on a swing trades like this or

Not likely, the combined buying power of FF cannot make a dent in forex trading.

b) Everyone buying / selling at the same time will help to move the market in that direction or

See above

c) The market is efficient and anything that works soon stops and maybe even counter trades will occur by those exploiting the failure of the breakout (happens with break outs, or fakeouts as they are, in the S&P out of market value areas all the time now).

Possible. The issue now is how to detect that?
  • #3,316
  • Sep 5, 2009 10:55am Sep 5, 2009 10:55am
Quoting wrenski
Sorry to hear this bad news Ace. People who can't trade try to make a living selling trading systems.
W.

This is absolutely NOT true.

My Live account size is pathetic, does this system work? yes it does, does it build my account up enuff? no it does not.

I KNOW how to trade, and DO trade, but I require some means of obtaining what is considered Real investment money (I'm not about to invest money I can't afford to invest).

By your description, I'm someone who doesn't know how to trade, because of what I have to do to grow my account size to a workable amount.

Correct me if I'm wrong, I've made multiple contributions that very well could improve everyone else's trading.

I have my own person intent with the system I devised, and to be honest, I take offense to that. The difference between me and them, is I'm not a scam. If I was, I would not have freely given my entire system to everyone. Plus, I don't have intentions on using Ace's system at all. For my own Personal Use yes, but for my own persona intent, no.

My bottom line is this, just because someone does something with something, does not always mean what you think.

Quote
I have learned more on FF for free than any where else, thanks to people like you!
This I agree with.
  • #3,317
  • Sep 5, 2009 10:56am Sep 5, 2009 10:56am
Quoting PiPsAddict
Hey Ace,

I understand your frustration. Unfortunately, scammers are lurking around every corner.

Just know that you have made a positive difference here on FF. Your knowledge and generosity is much appreciated.

I, along with everyone else here, am very much looking forward the updated variation of your breakout system.

Have a great weekend!

they' e fu kin everywhere, like a plague. They think they have the aces
  • #3,318
  • Sep 5, 2009 11:02am Sep 5, 2009 11:02am
Quoting bar
they' e fu kin everywhere, like a plague. They think they have the aces
what they dun know we the ACE on our side
  • #3,319
  • Sep 5, 2009 11:02am Sep 5, 2009 11:02am
The COT report for the nex week
----------------------------------
LONG SHORT
BRITISH POUND
57,246 35,214


------------------------------

JAPANESE YEN -
30,018 71,495
  • #3,320
  • Sep 5, 2009 11:17am Sep 5, 2009 11:17am
Quoting Pharoah
This is absolutely NOT true.

My Live account size is pathetic, does this system work? yes it does, does it build my account up enuff? no it does not.

I KNOW how to trade, and DO trade, but I require some means of obtaining what is considered Real investment money (I'm not about to invest money I can't afford to invest).

By your description, I'm someone who doesn't know how to trade, because of what I have to do to grow my account size to a workable amount.

Correct me if I'm wrong, I've made multiple contributions that very well could improve...
Wow Pharaoh, I didn't mean to strike such a sensitive nerve with you. I can only speak of my past experiences with forex and my above statements are true for me.

My bottom line is this, you can do something with something and I can do something with my something and we will both end up with something!

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