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4H Box Breakout

  • #3,781
  • Sep 16, 2009 6:51am Sep 16, 2009 6:51am
Hello people!

I want to ask you something.

Do you know if such kind of system can work on 1 Day chart?
I mean - at morning you are placing your stop BUY and SELL orders, and at evening close open trades... Every single day....

Thanks!
  • #3,782
  • Sep 16, 2009 6:58am Sep 16, 2009 6:58am
Quoting Offshore
I used to be a young sucessful trader with everything ahead of me. Then one day I was befreinded by this smooth talking mexican resident. now look at me. So becareful Wrenski be VERY careful;

"Offshore's Sad Story"
Chapter 1


 Offshore, you always had a way with a story.

However, old friend, I remember things just a little bit differently. That picture you posted was your life BEFORE you met me. It was a sad time in your life.Then, we met, and when you listened to my advice, things suddenly changed . . .
Attached Image
Greetings from Guanajuato, Mexico
  • #3,783
  • Sep 16, 2009 6:59am Sep 16, 2009 6:59am
Quoting Offshore
I used to be a young sucessful trader with everything ahead of me. Then one day I was befreinded by this smooth talking mexican resident. now look at me. So be careful Wrenski be VERY careful;

"Offshore's Sad Tale"
Chapter 2


Then, you dumped me and your favorite burro on the side of the road and took up life with somebody named "Scotch".

Now look at you . . .
Attached Image
Greetings from Guanajuato, Mexico
  • #3,784
  • Sep 16, 2009 7:05am Sep 16, 2009 7:05am
Quoting dim4ik42
Hello people! I want to ask you something. Do you know if such kind of system can work on 1 Day chart? I mean - at morning you are placing your stop BUY and SELL orders, and at evening close open trades... Every single day.... Thanks!
I can pretty much guarantee you that trading off a 1-day chart will work at least as well as the weekly system has worked for the past month.
Greetings from Guanajuato, Mexico
  • #3,785
  • Sep 16, 2009 7:10am Sep 16, 2009 7:10am
Quoting droland
Damn it. Who found my picture?

dr
I did . . . and if you send $10,000 a month in unmarked bills to my Swiss account, no one else has to know your dark, dirty secrets, Dave.
Greetings from Guanajuato, Mexico
  • #3,786
  • Sep 16, 2009 7:13am Sep 16, 2009 7:13am
Quoting 11andy11
I know I have mentioned it before, but I use the 0:00 gmt candle for entry. Anyways lost the long position and the short has been triggered, up about 120 pips. Its subsequently broken the 149 level so this thing might get some legs to the downside. Stops at be now. My box size is right about 100 pips. Probably target tp3 due to the weekly atr sucking.

I think we both are using IBFX's first candle. How are you handling your stop? If I had traded this short, it would have hit my 50% stop before moving lower.


Edit: I just looked a little closer and it would have missed my stop by 5-6 pips. Man...I missed that nice short!
  • #3,787
  • Sep 16, 2009 7:28am Sep 16, 2009 7:28am
Quoting yen44x
I can pretty much guarantee you that trading off a 1-day chart will work at least as well as the weekly system has worked for the past month.

What are you meaning?..

I know, that so kind of weekly systems work very well in long term...
I test FIRST STRIKE a lot in many pairs... Even on Dow. It works!
But - do you know something like this but on dayly?
  • #3,788
  • Sep 16, 2009 7:37am Sep 16, 2009 7:37am
Quoting dim4ik42
What are you meaning?..
You're just one of many I've confused, dim. My wife asks me the same question several times a day.

All I meant was the system hasn't worked very well on the Weekly charts for the last month, so it couldn't do any worse on daily charts. I actually have no idea if it would work or not if adapted to a Daily chart, but try some back testing. With this system, that's easy to do.

Quoting dim4ik42
I know, that so kind of weekly systems work very well in long term... I test FIRST STRIKE a lot in many pairs... Even on Dow. It works!
But - do you know something like this but on dayly?
There's another thread on FF that deals with a daily GBP/JPY breakout strategy: http://www.forexfactory.com/showthread.php?t=183582

I haven't tried that strategy, but you might get some ideas there. Good luck!
Greetings from Guanajuato, Mexico
  • #3,789
  • Sep 16, 2009 7:38am Sep 16, 2009 7:38am
Quoting Scanner
Hi, all along this threads everybody ask about time of these first candle.

I'm so surprise.. hour is not important

The set is, as I understand , the first 4h candle of the week, or the four first one hour, whenever the country you are, the market alway begin one time a week ...??

Several eons ago, a suggestion was made, by Mr. Raygun I believe, (though I'm stuffed if I can find the post among the 3800 or so out there), that the first 4 x 1 hour candles be used to determine the box size. I found, in the past weeks that I get pretty close to, or sometimes the same as, Ace's figures.

I've also been reading with interest the to and fro of the SL %age debate (thanks to Pharaoh, Bobcat and Yen). Tried 40% this week, (a burro gave me that figure in a dream) on 2 trades. Yes, I lost both times, but the pain was far less.

Anyway, during the boredom of the week I thought I'd extend the xl calculator (droland / Ace). Hope I'm not treading on any toes by posting it.
Attached File(s)
File Type: xls 4H box calculator_tq1 extension.xls   27 KB | 642 downloads
  • #3,790
  • Sep 16, 2009 7:41am Sep 16, 2009 7:41am
Quoting wrenski
I think we both are using IBFX's first candle. How are you handling your stop? If I had traded this short, it would have hit my 50% stop before moving lower.


Edit: I just looked a little closer and it would have missed my stop by 5-6 pips. Man...I missed that nice short!
I haven't reduced my stop loss yet. I haven't done the back test on it yet to see the results. Need to look into it. I just glanced back a little bit and it appears the 50% stop loss kicks you out of a couple of trades of the last couple of months that would have been good winners. Don't know if that is offset by the losers or not. Its been tough trading this system for a while. I will say this, the 0:00 gmt candle has had an edge over the fxdd candle.
  • #3,791
  • Edited 8:57am Sep 16, 2009 8:32am | Edited 8:57am
this 's the last month result with applying my idea
we are still in week 4

TP3
TP1
TP1
TP1 (up till now)
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 26 KB
  • #3,792
  • Sep 16, 2009 10:11am Sep 16, 2009 10:11am
Basomakn, do you trail your stops ? How do you decide which TP to take profits at ?
Thanks
krly
  • #3,793
  • Sep 16, 2009 10:14am Sep 16, 2009 10:14am
Quoting Scanner
Hi, all along this threads everybody ask about time of these first candle.

I'm so surprise.. hour is not important

The set is, as I understand , the first 4h candle of the week, or the four first one hour, whenever the country you are, the market alway begin one time a week ...??
broker starts at different hour, often, 1 hour difference. so it is in fact first 3 hours for many who uses IBFX or FXDD for example.

however, in fact, this difference is not important to this system.

first x hours, put x 4 or 6, it won't be profitable during this month, it was anyway profitable in previous months of 2009.
  • #3,794
  • Sep 16, 2009 10:44am Sep 16, 2009 10:44am
It's been a long time since I thought about the Yardbirds, but then I realized that way back in 1966 they were the first to predict the current state of GBP/JPY . . .
Attached Image
Greetings from Guanajuato, Mexico
  • #3,795
  • Sep 16, 2009 10:49am Sep 16, 2009 10:49am
sorry yen, can you have less as 10 post to one side?
is hard to read for us......
  • #3,796
  • Sep 16, 2009 10:59am Sep 16, 2009 10:59am
is it just me, or does the price really not want to leave the box alone... it's like separating school kids... seems to be impossible.
  • #3,797
  • Sep 16, 2009 11:13am Sep 16, 2009 11:13am
Quoting SonaV.
sorry yen, can you have less as 10 post to one side?
is hard to read for us......
Here's how to solve your problem (me):

Just click on my name on any of my posts. That will take you to my profile. Then, click on "Put Yen on your Ignore List". Boom, your problem (me) is solved.

Here's an example: http://cdn.forexfactory.com/images/b...add_ignore.gif Put SonaV. on Your Ignore List

BTW, who is "us"? Are you speaking on behalf of a committee of 4H Box Breakout members? Maybe I shouldn't ask that question . . . you probably are.
Greetings from Guanajuato, Mexico
  • #3,798
  • Sep 16, 2009 11:16am Sep 16, 2009 11:16am
Quoting yen44x
Here's how to solve your problem (me):

Just click on my name on any of my posts. That will take you to my profile. Then, click on "Put Yen on your Ignore List". Boom, your problem (me) is solved.

BTW, who is "us"? Are you speaking on behalf of a committee of 4H Box Breakout members? Maybe I shouldn't ask that question . . . you probably are.
ROFL yen, when I see 5 post's all coming from yen in a single row, I read them all, that's when your best stuff comes out.
  • #3,799
  • Sep 16, 2009 11:18am Sep 16, 2009 11:18am
Quoting Pharoah
ROFL yen, when I see 5 post's all coming from yen in a single row, I read them all, that's when your best stuff comes out.
Well, you see, here in the asylum they give me 15 minutes a day on the computer. That gives me 23 hours, 45 minutes to think about my posts.
Greetings from Guanajuato, Mexico
  • #3,800
  • Sep 16, 2009 11:20am Sep 16, 2009 11:20am
Quoting yen44x
Well, you see, here in the asylum they give me 15 minutes a day on the computer. That gives me 23 hours, 45 minutes to think about my posts.

OMFG your so lucky, they give you 15 minutes on the computer?? The asylum I'm at only gives me 5 Not to mention, the computers there are most likely better, the one they let us have is a 286.. I know, it's still top of the line, but we just can't afford them new 386's
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