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4H Box Breakout

  • #4,201
  • Sep 25, 2009 6:51pm Sep 25, 2009 6:51pm
Quoting Pharoah
These are the reasons, according to my calculations, as to why TP1 take partial, and let the rest ride is this reason.


With a full 1.0 Lot size (which will become 2 separate lots of .5 for takepartial) setting a full take profit at TP1 would result in these results, over 100 trades, with these Values (which are the approximation of my smartstop system)

Values for Take Full at TP1
Win rate 60% to TP1
loss Rate 20%
BE Rate 20%
Average Loss 20% of box
Box Size Average 100 pips
Lot Size 1

Pips gain over 100 trades is approximately 5600 pips, or...

Shazzzzam..... show me the money

Great post bro!

I've got to say that hanging out in here and taking it all in is the best forex education that money can't buy
Addicted and proud of it!
  • #4,202
  • Sep 25, 2009 7:02pm Sep 25, 2009 7:02pm
Quoting PiPsAddict
Shazzzzam..... show me the money

Great post bro!

I've got to say that hanging out in here and taking it all in is the best forex education that money can't buy
Yeah man, alot of fun in here, but alot of very very good pieces of information.

I think alot of post's in this thread should be compiled into a guide.
  • #4,203
  • Sep 25, 2009 8:12pm Sep 25, 2009 8:12pm
Quoting Pharoah
If someone knows of, or could create a script that allows the user to input a takeprofit point, and a % of trade close option, that would make taking half position profit at TP1 that much easier.
To my knowledge a script won't do this. A script executes when it is applied to the chart like 'close all trade' or 'open a trade with TP and SL'

The are however plenty of EA's that will do what you are asking for here.
  • #4,204
  • Sep 25, 2009 8:16pm Sep 25, 2009 8:16pm
Quoting andante9
To my knowledge a script won't do this. A script executes when it is applied to the chart like 'close all trade' or 'open a trade with TP and SL'

The are however plenty of EA's that will do what you are asking for here.
Then I suggest using one such as this, that way, you don't have to be there to close half position, and you can continue to manually drive the stoploss.
  • #4,205
  • Sep 25, 2009 8:20pm Sep 25, 2009 8:20pm
I do
  • #4,206
  • Sep 25, 2009 9:38pm Sep 25, 2009 9:38pm
Quoting andante9
I do
I do too . . . does this mean we're married, Andante?
Greetings from Guanajuato, Mexico
  • #4,207
  • Sep 25, 2009 9:54pm Sep 25, 2009 9:54pm
Quoting yen44x
I do too . . . does this mean we're married, Andante?

You are making me jealous!
  • #4,208
  • Sep 25, 2009 10:55pm Sep 25, 2009 10:55pm
Quoting wrenski
You are making me jealous!
Speaking of jealous, ever since I saw Pharoah's "System Developer" tag, I wanted to use "System Wrecker" but never got around to it. Well, guess where I saw it today . . . grrrr.
Greetings from Guanajuato, Mexico
  • #4,209
  • Sep 25, 2009 11:05pm Sep 25, 2009 11:05pm
hello guys,

from backtesting Aces` system from 29 March to 21 September as outlined in this thread with 1 trade a week, SL at the other side of the box and SL to BE if TP1 this system would produce 2,229 pips in profit.

according to Ace his new system would yield 3 x 2,229 = 6,687 pips profit for this period.

I`m almost finished with my backtesting and although I know the end result will be better than the old system, I dont know yet by how much.

here is the challenge: is there anybody out there that has a system that equals or beats those 6,687 pips for this period with results which can be verified?
  • #4,210
  • Sep 25, 2009 11:20pm Sep 25, 2009 11:20pm
Quoting yonnie
hello guys,

from backtesting Aces` system from 29 March to 21 September as outlined in this thread with 1 trade a week, SL at the other side of the box and SL to BE if TP1 this system would produce 2,229 pips in profit.

according to Ace his new system would yield 3 x 2,229 = 6,687 pips profit for this period.

I`m almost finished with my backtesting and although I know the end result will be better than the old system, I dont know yet by how much.

here is the challenge: is there anybody out there that has a system that equals or beats those...

Give me not long, maybe mid month, and I will hopefully have results of that or better We will see.
  • #4,211
  • Sep 26, 2009 4:10am Sep 26, 2009 4:10am
Quoting yonnie
hello guys,

from backtesting Aces` system from 29 March to 21 September as outlined in this thread with 1 trade a week, SL at the other side of the box and SL to BE if TP1 this system would produce 2,229 pips in profit.

according to Ace his new system would yield 3 x 2,229 = 6,687 pips profit for this period.

I`m almost finished with my backtesting and although I know the end result will be better than the old system, I dont know yet by how much.

here is the challenge: is there anybody out there that has a system that equals or beats those...
Hi there, i must have missed this, but where does ace post a NEW system? :O
  • #4,212
  • Sep 26, 2009 4:49am Sep 26, 2009 4:49am
Quoting Jesper
Hi there, i must have missed this, but where does ace post a NEW system? :O
Nope, you didn't miss anything, this is just what the approx earnings of ace's new system are in that timeframe.
  • #4,213
  • Sep 26, 2009 7:41am Sep 26, 2009 7:41am
Quoting yonnie
hello guys,

from backtesting Aces` system from 29 March to 21 September as outlined in this thread with 1 trade a week, SL at the other side of the box and SL to BE if TP1 this system would produce 2,229 pips in profit.

according to Ace his new system would yield 3 x 2,229 = 6,687 pips profit for this period.

I`m almost finished with my backtesting and although I know the end result will be better than the old system, I dont know yet by how much.

here is the challenge: is there anybody out there that has a system that equals or beats those...
Patiently waiting for Aces' System Ver 2.
  • #4,214
  • Sep 26, 2009 7:56am Sep 26, 2009 7:56am
Hello everybody,

this is my first post here which won't be very usefull

I just hope like everyone who has been following the tread since the beginning that Ace will be back, we are all missing him.

Regards,
Billyjoe

PS : sorry for my english, it is not my native language.
  • #4,215
  • Sep 26, 2009 8:14am Sep 26, 2009 8:14am
Quoting Billyjoe
Hello everybody, this is my first post here which won't be very usefull I just hope like everyone who has been following the tread since the beginning that Ace will be back, we are all missing him. Regards, Billyjoe PS : sorry for my english, it is not my native language.
Your English is very good, Billyjoe . . . welcome to the thread.
Greetings from Guanajuato, Mexico
  • #4,216
  • Sep 26, 2009 8:18am Sep 26, 2009 8:18am
Quoting yen44x
Speaking of jealous, ever since I saw Pharoah's "System Developer" tag, I wanted to use "System Wrecker" but never got around to it. Well, guess where I saw it today . . . grrrr.

Sorry I took the words right out of your mouth, Yen but I wanted to sound important like pharoah's tag makes him sound.
  • #4,217
  • Sep 26, 2009 8:33am Sep 26, 2009 8:33am
Quoting yen44x
Your English is very good, Billyjoe . . . welcome to the thread.
Thank you Yen !

Billyjoe
  • #4,218
  • Sep 26, 2009 9:44am Sep 26, 2009 9:44am
So I would share my opinion about Ace's method.

I haven't backtest what I will say because I do not know anything about programming an EA and the EA so generously shared in this forum seems not to be perfect.

Anyway I trade Ace's method with half box as stop loss, this double the ratio risk/reward. Now backtesting will give us right or not but for the moment it gave me right, of course this means nothing if it won't give me right in the future as we (maybe) not let enough room for the trade.

But as it is a breakout, especially during the first 4hour candle of the first day of the week (with low volatility) this means for me that if the breakout occurs it will push the price far enough to let enough room to the trade and then, because of the low volatility at the time we entered the trade will give us a nice ratio R/R.

Also I guess that Ace's new method is based on coumpouding.

I think that the exposure of 1/2/3% risk (1% for me but on 3 pairs) will be longuer but if this trade is going to really start bullish or bearish this will give us a very good ratio risk/reward.

For example if the box size is 100 pips, take a new order once the profit is 100 pips and put the first order in breakeven will still give us a risk egual of our initail risk %, and so on until 300/400 pips.

This mean we will only risk the initial % but longer, until the TP reach 600 pis (for example), this will give us a very good profit because of the multiples orders, at worse we will loose our initial % risk.

Of course this will give us more loosing trades because no break even until the trade reach a good amount of pips.


Just my opinion.

Backtesting will help a lot to answer that, and of course this method will be profitable in much longer term than the initial method because more loosing trades but small (if good MM) and very big profit because of the very high R/R.


I hope I made myself clear enough.


Regars to all who contribute to this tread.

Billyjoe
  • #4,219
  • Sep 26, 2009 9:59am Sep 26, 2009 9:59am

Attached Image

Missing Thread Creator

Date: 26 September 2009

First Name: Ace

Last Name: 284

Last Seen: 13 September 2009

Description: Subject lives in Toronto, Canada, but is now known internationally. Subject is known to carry a Box with him at all times. Unconfirmed reports suggest that Subject may now be carrying a new, improved Box.

Any information may be of help. Please report any information regarding this subject to:

Forex Factory
c/o 4H Box Breakout

Thank you.
Greetings from Guanajuato, Mexico
  • #4,220
  • Sep 26, 2009 10:10am Sep 26, 2009 10:10am
Very nice, Yen
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