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4H Box Breakout

  • #4,161
  • Sep 25, 2009 8:23am Sep 25, 2009 8:23am
GBP/JPY finally demolished the 146.75 support level, and the next strong support appears to be in the 142-143 area.

For anyone who got into the Short trade and stayed in, congratulations . And, BTW, can I borrow a peso or two . . . I know you've got it now.
Greetings from Guanajuato, Mexico
  • #4,162
  • Sep 25, 2009 8:51am Sep 25, 2009 8:51am
Quoting yen44x
I'm sorry to hear you're unhappy about the thread. I always try to respect the opinions of others, and especially those who share their thoughts and strategies on the thread, but what have you done to contribute to a better thread? In over 4 months of this thread's existence, you've posted twice, and both times it was to complain about clutter.

As far as I'm concerned, there's only two unnecessary posts on this thread . . . yours.



I would really understand if you don't write anymore either . . . in fact, I would appreciate...
  • #4,163
  • Sep 25, 2009 8:58am Sep 25, 2009 8:58am
Quoting yen44x
GBP/JPY finally demolished the 146.75 support level, and the next strong support appears to be in the 142-143 area.

For anyone who got into the Short trade and stayed in, congratulations . And, BTW, can I borrow a peso or two . . . I know you've got it now.

i am actually very bearish on gbp/jpy. this level got broken and if you check on weekly chart gbp/jpy looks in clear fundamental down trend.
there is a huge downside to the pair if all goes as i hope.
but we have new government in japan and carry trade kinda dead. so we cannot be completely sure.
  • #4,164
  • Sep 25, 2009 8:59am Sep 25, 2009 8:59am
i also had very odd idea. if for example we trade Ace system and we have fundamental trend so, do trades in trend direction have higher probability of success?
  • #4,165
  • Sep 25, 2009 10:20am Sep 25, 2009 10:20am
Quoting shiko
i also had very odd idea. if for example we trade Ace system and we have fundamental trend so, do trades in trend direction have higher probability of success?
I'll be testing this out within the next month if everything goes as planned.

But yes, right now it is clearly a downtrend, I have 4 positions open right now, one in GBPJPY, EURGBP, USDCAD at .04 lot size, and EURJPY at .05 lot size, with a total unrealized profit of $480. These lot sizes bring in approx 4 cents a pip
  • #4,166
  • Sep 25, 2009 10:32am Sep 25, 2009 10:32am
Quoting Pharoah
I'll be testing this out within the next month if everything goes as planned.

But yes, right now it is clearly a downtrend, I have 4 positions open right now, one in GBPJPY, EURGBP, USDCAD at .04 lot size, and EURJPY at .05 lot size, with a total unrealized profit of $480. These lot sizes bring in approx 4 cents a pip

i am actually just watching today. do not trade Fridays, but looks like market finally choose directions. i am waiting for g/j retracement.
  • #4,167
  • Edited 1:13pm Sep 25, 2009 10:37am | Edited 1:13pm
I know i know, i shouldn't post this here as it has nothing to do with Ace's system.
However, i feel i want to show these charts to you guys, i'm just so damn proud!
My ego is like flying, high on green pips.



*edit* o'yeah, the black line shows the entry, both positions are short.
Attached Image(s) (click to enlarge)
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  • #4,168
  • Sep 25, 2009 10:45am Sep 25, 2009 10:45am
Quoting shiko
i am actually just watching today. do not trade Fridays, but looks like market finally choose directions. i am waiting for g/j retracement.
My trades were entered on wednesday I think using the original entry rules, not waiting for the JPY holiday to be over. I also do not enter trades friday.
  • #4,169
  • Sep 25, 2009 10:46am Sep 25, 2009 10:46am
Quoting Jesper
My ego is like flying, high on green pips.



*edit* o'yeah, the black line shows the entry, both positions are short.
Catch catch it before it flies away
it looks like the time to put those green shots into the bank
  • #4,170
  • Sep 25, 2009 10:48am Sep 25, 2009 10:48am
Quoting Pharoah
My trades were entered on wednesday I think using the original entry rules, not waiting for the JPY holiday to be over. I also do not enter trades friday.

i closed all trades yesterday. $1500/ 1.5% for the week. long e/u. but not ace system. i will continue ace's system after i am back.
  • #4,171
  • Sep 25, 2009 10:53am Sep 25, 2009 10:53am
Quoting shiko
i closed all trades yesterday. $1500/ 1.5% for the week. long e/u. but not ace system. i will continue ace's system after i am back.
I never manually close a trade, I either let my MA stops catch it, or I let it ride till the last hour., I' trading .04 lot sizes, and have a return of almost 10% return of my account balance for this week alone (account size 5K, profits near $500)
  • #4,172
  • Sep 25, 2009 11:03am Sep 25, 2009 11:03am
Quoting Pharoah
I never manually close a trade, I either let my MA stops catch it, or I let it ride till the last hour., I' trading .04 lot sizes, and have a return of almost 10% return of my account balance for this week alone (account size 5K, profits near $500)

no no, it hit my target, closed all positions at same price by take profit. it reached my goal... this strategy is different...
  • #4,173
  • Sep 25, 2009 11:05am Sep 25, 2009 11:05am
Quoting shiko
no no, it hit my target, closed all positions at same price by take profit. it reached my goal... this strategy is different...
No I know , everyone has their own way, both seem to be profitable
  • #4,174
  • Sep 25, 2009 11:10am Sep 25, 2009 11:10am
Quoting shiko
no no, it hit my target, closed all positions at same price by take profit. it reached my goal... this strategy is different...

so, have you covered loses from those 4-5 weeks?
  • #4,175
  • Sep 25, 2009 11:16am Sep 25, 2009 11:16am
Quoting shiko
so, have you covered loses from those 4-5 weeks?
And then some, over the loosing weeks, I only traded GBPJPY, at an average loss of about $20 a trade, lost some 6 times, so that's only around $120, right now I'm trading on 5 pairs, 4 active trades, 4 trades in profit.
  • #4,176
  • Sep 25, 2009 11:33am Sep 25, 2009 11:33am
Quoting Pharoah
And then some, over the loosing weeks, I only traded GBPJPY, at an average loss of about $20 a trade, lost some 6 times, so that's only around $120, right now I'm trading on 5 pairs, 4 active trades, 4 trades in profit.


and obviously it was not 1 box stop loss. it says a lot!
had you traded 1 box and having so many 2 losses a week, 1 trade would not bring such excellent results.
  • #4,177
  • Sep 25, 2009 11:36am Sep 25, 2009 11:36am
Quoting shiko
and obviously it was not 1 box stop loss. it says a lot!
had you traded 1 box and having so many 2 losses a week, 1 trade would not bring such excellent results.
I Never traded the original exit rule, ever, when I found this entry system, I already had my exit system developed, I just had to tweek it to work flawlessly with this entry system, and it blends beautifully
  • #4,178
  • Sep 25, 2009 11:36am Sep 25, 2009 11:36am
Quoting yen44x
Response to a post by stevehooks
I'm sorry to hear you're unhappy about the thread. I always try to respect the opinions of others, and especially those who share their thoughts and strategies on the thread, but what have you done to contribute to a better thread? In over 4 months of this thread's existence, you've posted twice, and both times it was to complain about clutter.

As far as I'm concerned, there's only two unnecessary posts on this thread . . . yours.

I would really understand if you don't write...
Well said!
  • #4,179
  • Sep 25, 2009 11:53am Sep 25, 2009 11:53am
Quoting yen44x
I'm sorry to hear you're unhappy about the thread. I always try to respect the opinions of others, and especially those who share their thoughts and strategies on the thread, but what have you done to contribute to a better thread? In over 4 months of this thread's existence, you've posted twice, and both times it was to complain about clutter.

As far as I'm concerned, there's only two unnecessary posts on this thread . . . yours.
Here here, well said yen, your post's no matter what any single person says, are a bit much, but in alot of cases, VERY NEEDED!!!
  • #4,180
  • Sep 25, 2009 12:04pm Sep 25, 2009 12:04pm
Quoting penfield
Well said!

Et Tu Penfield
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