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4H Box Breakout

  • #3,701
  • Sep 14, 2009 12:01pm Sep 14, 2009 12:01pm
Quoting jones247
If you don't mind sharing, what's your modified version that allowed you to pull +150 pips in profit? Are you averaging down, as opposed to reverse in the opposite direction when the 1st trade gets stopped out?

thanks,

Walt
I am sorry, there was only one (1) valid trade last week and that was the first short trade, it never got stopped out, not by my doing anyway. There was a resistance around 153.13, and a SL above this is only a matter of common sense when going short, especially with a volatile pair like GBPJPY. But come to think of it, did GJ really break upward last week?
Orderliness of Randomness
  • #3,702
  • Sep 14, 2009 12:03pm Sep 14, 2009 12:03pm
Quoting eloaking
I am sorry, there was only one (1) valid trade last week and that was the first short trade, it never got stopped out, not by my doing anyway. There was a resistance around 153.13, and a SL above this is only a matter of common sense when going short, especially with a volatile pair like GBPJPY. But come to think of it, did GJ really break upward last week?

on FXDD it took a long once, the rest were short, and all losers. Unless you took the Friday Breakout Short, you would have netted TP1.
  • #3,703
  • Sep 14, 2009 12:13pm Sep 14, 2009 12:13pm
Quoting Pharoah
on FXDD it took a long once, the rest were short, and all losers. Unless you took the Friday Breakout Short, you would have netted TP1.
Nope, it never. I use FXDD as well. Oh, i forgot to add, part of my modified version is i dont take a position until the close of 4 hr candle. You shouldnt, the name of the strategy is 4hr breakout strategy, so why not trade it as 4 hr? the crowded thread has not made it possible for me to post my version, please bear with me. But sure, i will soon.
Orderliness of Randomness
  • #3,704
  • Sep 14, 2009 12:13pm Sep 14, 2009 12:13pm
Anyone else on have any experience of Ronald's EA for this method. Set it up for testing this weel on a 50K demo and it just keeps returning the error "We have no money. Free margin=50000". Found the below code in the EA which I reckon may be the problem:


if(!IsTrade && !SignalsOnly) {
//Check free margin
if (AccountFreeMargin() < (1000 * Lots)) {
Print("We have no money. Free Margin = ", AccountFreeMargin());
return(0);
}


Isn't that telling the EA not to trade if the account margin is below 1000 times my lot size??


Thanks for your help in advance!
  • #3,705
  • Sep 14, 2009 12:18pm Sep 14, 2009 12:18pm
Quoting eloaking
Nope, it never. I use FXDD as well. Oh, i forgot to add, part of my modified version is i dont take a position until the close of 4 hr candle. You shouldnt, the name of the strategy is 4hr breakout strategy, so why not trade it as 4 hr? the crowded thread has not made it possible for me to post my version, please bear with me. But sure, i will soon.

Ok, because outside of your modified version, what I stated did in fact occur according to the original entry rules of the system. Here is an image, I have circled everywhere that a trade would have been triggered.

Attached Image (click to enlarge)
Click to Enlarge Name: last week.jpg Size: 142 KB


As for your version of the system, create a new thread to record, that is what I have done with my stoploss system when applied to this entry system, it'll also allow for others to be able to read exactly what your method is without having to wade through page after page.
  • #3,706
  • Sep 14, 2009 12:31pm Sep 14, 2009 12:31pm
Quoting jcalow
Anyone else on have any experience of Ronald's EA for this method. Set it up for testing this weel on a 50K demo and it just keeps returning the error "We have no money. Free margin=50000". Found the below code in the EA which I reckon may be the problem:...

What's your lot size?
Or Risk and MM settings?
  • #3,707
  • Sep 14, 2009 1:27pm Sep 14, 2009 1:27pm
Quoting Ronald Raygun
What's your lot size?
Or Risk and MM settings?
Lot size is 1.0, risk 5%. My broker is a 5 decimal if that makes any difference.
  • #3,708
  • Sep 14, 2009 1:32pm Sep 14, 2009 1:32pm
Quoting jcalow
Lot size is 1.0, risk 5%. My broker is a 5 decimal if that makes any difference.
Hang on, think I got it. I have set MM to "true" & "5%", yet I've also still have lot size of "1.0". Have I confused it by doing that? Does lot size have to read "0.0" if MM is "true". Sorry if that is the issue, bit dumb of me!
  • #3,709
  • Sep 14, 2009 1:35pm Sep 14, 2009 1:35pm
MM overrides lot size anyway.

I may just end up removing that chunk of code as it's not really that useful anymore.

For the time being, set that multiplier value to 0. That will disable that block of code. It's original purpose was to prevent the EA from spamming the broker with trade requests after a margin call was made.
  • #3,710
  • Sep 14, 2009 1:37pm Sep 14, 2009 1:37pm
Quoting Ronald Raygun
MM overrides lot size anyway.

I may just end up removing that chunk of code as it's not really that useful anymore.
Yeah, just tried lot size "0.0" and still same issue. Thanks for your help.
  • #3,711
  • Sep 14, 2009 3:39pm Sep 14, 2009 3:39pm
Quoting Pharoah
Ok, because outside of your modified version, what I stated did in fact occur according to the original entry rules of the system. Here is an image, I have circled everywhere that a trade would have been triggered.

Attachment

As for your version of the system, create a new thread to record, that is what I have done with my stoploss system when applied to this entry system, it'll also allow for others to be able to read exactly what your method is without having to wade through page after page.
Thanks for your advice, I will look into that
Orderliness of Randomness
  • #3,712
  • Sep 14, 2009 3:48pm Sep 14, 2009 3:48pm
Quoting Pharoah
Ok, because outside of your modified version, what I stated did in fact occur according to the original entry rules of the system. Here is an image, I have circled everywhere that a trade would have been triggered.

Attachment

As for your version of the system, create a new thread to record, that is what I have done with my stoploss system when applied to this entry system, it'll also allow for others to be able to read exactly what your method is without having to wade through page after page.
Thanks for your advice, I will look into that
Orderliness of Randomness
  • #3,713
  • Sep 14, 2009 5:21pm Sep 14, 2009 5:21pm
Hmmm...we need to the market to get out of this range and start to trend so we will have something to talk about.
  • #3,714
  • Sep 14, 2009 5:36pm Sep 14, 2009 5:36pm
Quoting wrenski
Hmmm...we need to the market to get out of this range and start to trend so we will have something to talk about.
That's for sure. Jokes only go so far, and the biggest joke recently has been the market.
Greetings from Guanajuato, Mexico
  • #3,715
  • Sep 14, 2009 5:49pm Sep 14, 2009 5:49pm
Quoting yen44x
That's for sure. Jokes only go so far, and the biggest joke recently has been the market.
It amazes me how resilient this market really is. The fundamental data and political jawboning has not exactly been stellar the past few weeks, yet the equity markets just keep shrugging it off and proceeding north.

I think there's a conspiracy to suck as many retail traders as they can into the "bull party" and then open the flood gates and drive the markets down. The big players do not take kindly to us little folk being able to make money playing THEIR game. Also, this whole HFT (High Frequency Trading) by the large banks and investment houses means they can move the markets where they want at the push of a button.

I think I'll go hide in my closet now, as the men in black suits are probably on their way....

Patience is the hardest virtue of them all....
Addicted and proud of it!
  • #3,716
  • Sep 14, 2009 5:59pm Sep 14, 2009 5:59pm
Quoting PiPsAddict
It amazes me how resilient this market really is. The fundamental data and political jawboning has not exactly been stellar the past few weeks, yet the equity markets just keep shrugging it off and proceeding north. I think I'll go hide in my closet now, as the men in black suits are probably on their way....
Yup, one of the guys in the black suits was in my neighborhood yesterday.

I tried to hide, but my wife insisted the polite thing to do was invite him in. I was scared to death, but she seemed to enjoy the visit.
Attached Image
Greetings from Guanajuato, Mexico
  • #3,717
  • Sep 14, 2009 6:00pm Sep 14, 2009 6:00pm
Quoting yen44x
Yup, one of the guys in the black suits was in my neighborhood yesterday.

I tried to hide, but my wife insisted the polite thing to do was invite him in. I was scared to death, but she seemed to enjoy the visit.
If they look like that, then my wife would have done the same thing

Good one Yen!
Addicted and proud of it!
  • #3,718
  • Sep 14, 2009 6:02pm Sep 14, 2009 6:02pm
Quoting PiPsAddict
If they look like that, then my wife would have done the same thing

Good one Yen!
And even though I tried to make light of the situation, your post was right on the money . . . patience, Yen, patience.
Greetings from Guanajuato, Mexico
  • #3,719
  • Sep 14, 2009 6:17pm Sep 14, 2009 6:17pm
Quoting yen44x
And even though I tried to make light of the situation, your post was right on the money . . . patience, Yen, patience.

No worries Yen... we need all the light we can get our hands on when the market is behaving this way.

Current market conditions make it very boring and frustrating for those of us who are working H4 charts.

Asia and Europe had everything going in the right direction last night and then the US markets opened this morning and ruined the party.
Addicted and proud of it!
  • #3,720
  • Sep 14, 2009 6:32pm Sep 14, 2009 6:32pm
Quoting PiPsAddict
No worries Yen... we need all the light we can get our hands on when the market is behaving this way.

Current market conditions make it very boring and frustrating for those of us who are working H4 charts.

Asia and Europe had everything going in the right direction last night and then the US markets opened this morning and ruined the party.
That's exactly what I thought. It appeared the dam was finally going to burst, and then . . . nothing.

I keep trying to remind myself that the longer the pair is compressed, the louder the explosion when it finally breaks out. Here's hoping it's soon.
Greetings from Guanajuato, Mexico
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