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4H Box Breakout

  • #3,541
  • Sep 8, 2009 10:22pm Sep 8, 2009 10:22pm
Quoting Tranell

I would like to suggest that you start your own website / forum. Forum programs are free to use anyway.

I am willing to throw in a small contribution to start. I am sure that there are many who dont mind chipping in that little bit for you to get started. Shall we call this seed capital ?

Hi Ace, I 100% agreed with Tranell.Pls count me in.

Two years back,I have attended 2 trading courses, both 2 gurus have developed their own strategy, they have handled their strategy differently:-

1st one, he came up the " most powerful strategy" in the world and bcos the strategy is so open & produced very good profits, the brokers have tried many ways to stopped him and finally found a way to hit hard on the strategy. All his students lose a lot of money after that.....and he got sued by the graduates now. long story...but..poor thing!

2nd one, he developed a strategy better than the 1st one and he keep it only to his students who attended his course ....and this strategy is still alive till now...is very powerful.He has chose to protect his intellectual property and that's why he is doing very good now.

my 2cents, form your own group, a genuine one and at the same time copryright all your efforts. You have my support!
  • #3,542
  • Sep 8, 2009 10:28pm Sep 8, 2009 10:28pm
Quoting fxann
Hi Ace, I 100% agreed with Tranell.Pls count me in.

Two years back,I have attended 2 trading courses, both 2 gurus have developed their own strategy, they have handled their strategy differently:-

1st one, he came up the " most powerful strategy" in the world and bcos the strategy is so open & produced very good profits, the brokers have tried many ways to stopped him and finally found a way to hit hard on the strategy. All his students lose a lot of money after that.....and he got sued by the graduates now. long story...but..poor thing!

2nd...
This, I would be part of in a second. I trust Ace, and I'm sure the feeling is mutual.
  • #3,543
  • Sep 8, 2009 10:40pm Sep 8, 2009 10:40pm
Quoting Pharoah
This, I would be part of in a second. I trust Ace, and I'm sure the feeling is mutual.
Count me in! I hate pirates!
  • #3,544
  • Sep 8, 2009 10:44pm Sep 8, 2009 10:44pm
Quoting kepalalutut
Count me in! I hate pirates!
Ditto for me... I'm on board!
Addicted and proud of it!
  • #3,545
  • Sep 8, 2009 10:48pm Sep 8, 2009 10:48pm
Quoting PiPsAddict
Ditto for me... I'm on board!
I think alot of those that have contributed to this system overall would be game for this kind of "private club". We don't HAVE to stay strictly on the 4H weekly strategy, I believe that Ace, myself, and all the others who have contributed have the potential to produce winning system, after winning system, which is an important part of trading, markets change, systems need to keep up.
  • #3,546
  • Sep 8, 2009 11:31pm Sep 8, 2009 11:31pm
I think you should give your new ideas only the people you want, via pm or in another own website. Is your work and you can share it with people who is really grateful with you and the ones who are working improving this method with backtesting and good new ideas.

Is your work, your time and your systems.

Thanks for share with us.

Hate this kind of gurú-pirate who always want to make money selling systems... why donīt they earn money using this system? Isnīt it enough for them??? Maybe they donīt know how to use the system but they resell it...
  • #3,547
  • Sep 8, 2009 11:36pm Sep 8, 2009 11:36pm
Quoting lugarejo
why donīt they earn money using this system? Isnīt it enough for them??? Maybe they donīt know how to use the system but they resell it...
The reason for this, is because they don't want to put their own money into it, they just want to wrap it up in a package that cost them pennies and sell it as the worlds next best thing.
  • #3,548
  • Sep 9, 2009 12:53am Sep 9, 2009 12:53am
Quoting nubchai
Sure enough it's on a lot of sites, even babypips.
If you are talking about Phil's 4H breakout then I know it wasn't copied from here. He even posted in this thread after he found out about it.

Anyway, the sad fact is that there will always be people that try to turn a quick buck by selling systems.
  • #3,549
  • Sep 9, 2009 2:20am Sep 9, 2009 2:20am
Has anyone thought of using BW Fractals as trailing stop loss for this system ?

Just curious.

Cheers
Garfield.
Trading is SIMPLE not EASY.
  • #3,550
  • Sep 9, 2009 2:55am Sep 9, 2009 2:55am
May I suggest just one thing about "pirates" ?

I've just now have a look on the site you talk about, " desert of ice".. so,

when somebody find a website like this, just put the adress on Ace's PM, not on the thread, if not, you'ld be too kind too make them free advertising of their so unsuccessfull place..
  • #3,551
  • Sep 9, 2009 3:29am Sep 9, 2009 3:29am
Quoting Scanner
May I suggest just one thing about "pirates" ?

I've just now have a look on the site you talk about, " desert of ice".. so,

when somebody find a website like this, just put the adress on Ace's PM, not on the thread, if not, you'ld be too kind too make them free advertising of their so unsuccessfull place..
There's only so much we can do about it tho, if they own the website, there's literally nothing you can do. The only thing we can do, is when we see reviews on said websites, we post our own reviews with the real deal, and see how long they last after that.
  • #3,552
  • Sep 9, 2009 5:29am Sep 9, 2009 5:29am
It seems to me that you cannot stop pirates and keeping the post at Forex Factory would save a lot of work on duplicating this forum. Of course Ace is the one to make that decision and I would happily join. Great group of people on this forum and I would hate to see it loose momentum with putting a lot of energy into forum management, not system tweaks
  • #3,553
  • Sep 9, 2009 5:42am Sep 9, 2009 5:42am
I don't understand why we are wasting so much energy trying to shoot our faces to spite our nose.

All my respect and gratitude to Ace and all who helped contribute to this system but folks the fact is that this system is now in what is called the PUBLIC DOMAIN. Meaning, no one owns it anymore, not even Ace (all due respect)

We can't go around chastising everyone out there trading a four hour weekly breakout. The idea is completely ridiculous and besides we take away from our main focus which should be to trade and to improve the system.

If the though of someone picking up on your idea and doing something with it bothers you, then you should not post your system in a public forum. But if you do post it, then know that different people will do different things with it.
Don't look down when learning to fly.
  • #3,554
  • Sep 9, 2009 6:16am Sep 9, 2009 6:16am
I don't think that many traders will "stick around" to trade or "work on" a 40% win strategy. Most FOREX traders are still in the pursuit of the "Holy Grail" and will abandon this strategy after 1 or 2 bad weeks. My opinion is that this strategy is still "new" and the enthusiasm will subside. I'm sure that most of us remember the OzFx thread.
  • #3,555
  • Sep 9, 2009 7:48am Sep 9, 2009 7:48am
Quoting FXLab
I don't think that many traders will "stick around" to trade or "work on" a 40% win strategy. Most FOREX traders are still in the pursuit of the "Holy Grail" and will abandon this strategy after 1 or 2 bad weeks. My opinion is that this strategy is still "new" and the enthusiasm will subside. I'm sure that most of us remember the OzFx thread.

Ahhh, the old OzFx thread....I remember it well.
  • #3,556
  • Sep 9, 2009 8:21am Sep 9, 2009 8:21am
Quoting FXLab
I don't think that many traders will "stick around" to trade or "work on" a 40% win strategy. Most FOREX traders are still in the pursuit of the "Holy Grail" and will abandon this strategy after 1 or 2 bad weeks. My opinion is that this strategy is still "new" and the enthusiasm will subside. I'm sure that most of us remember the OzFx thread.
You could very well be right. This system has had a bad few weeks, and anyone just starting out might well be thinking about exiting.

I think that would be unfortunate for those who make that decision. This system offers some distinct advantages over the old OzFX system. And, I say that will some degree of confidence, because anyone with a long memory knows I was a frequent visitor on the OzFX thread.

1. This system primarily trades one currency, which should protect a trader's account. The OzFX System traded anything and everything.

2. The RR of this system is defined clearly, and offers a huge advantage to a trader who is patient enough for the "good times" to return.

3. Although I'm not a fan of back testing normally, this system can be back tested very easily. That wasn't the case with the OzFX system. Anyone who takes the time to do that, or who at least takes advantage of the back testing that has been posted on this thread, should have their confidence built up in this system.

Anyway, if you're thinking about exiting, give the system another few weeks. It's not the holy grail, but it's the best thing I've traded.
Greetings from Guanajuato, Mexico
  • #3,557
  • Sep 9, 2009 8:26am Sep 9, 2009 8:26am
Many of us who were part of the OzFX days will remember well that Oz began charging for his private forum, and I'm sure he made more from that than he did trading his system, at least for a while.

Probably a lot of you wonder what happened to old Oz. I figured he ended up in prison somewhere, so imagine my surprise and delight when I turned on the TV one day, and found out Oz has taken our hard-earned money and put it to good use!
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Greetings from Guanajuato, Mexico
  • #3,558
  • Sep 9, 2009 8:35am Sep 9, 2009 8:35am
Wow, Oz became a doctor and now he is sucking money out of Oprah. I think he is telling her you "you must trust the signals".
  • #3,559
  • Sep 9, 2009 8:38am Sep 9, 2009 8:38am
Quoting wrenski
Wow, Oz became a doctor and now he is sucking money out of Oprah. I think he is telling her you "you must trust the signals".
That's right . . . trust the signals and send me $99 a month.
Greetings from Guanajuato, Mexico
  • #3,560
  • Sep 9, 2009 8:59am Sep 9, 2009 8:59am
Sorry I struck a nerve with the OzFx reference. My point was that the increased popularity of this system (spreading to other forums) will eventually subside. The life of this thread will depend on "real traders" that are not in the quest for the "Holy Grail" and trade this system on its merits - low maintenance and steady returns. The "get rich quick" group will go elsewhere.
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