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4H Box Breakout

  • #4,421
  • Oct 1, 2009 1:35am Oct 1, 2009 1:35am
Quoting yen44x
Now you're starting to get it, PipsAddict . . . this is what the fancy trading books don't tell you . . . there's two secrets to successful trading . . . (1) head to the fridge, stock up, and then (2) start your search for google photos.
What was your highest consecutive post count yen?

And your right, food and google photo's, every millionair started with that
  • #4,422
  • Oct 1, 2009 1:39am Oct 1, 2009 1:39am
Quoting Pharoah
What was your highest consecutive post count yen?
And your right, food and google photo's, every millionair started with that
Well, I think I was approaching a record when you interrupted me . . . again.
Greetings from Guanajuato, Mexico
  • #4,423
  • Oct 1, 2009 1:45am Oct 1, 2009 1:45am
Quoting yen44x
Well, I think I was approaching a record when you interrupted me . . . again.
I'll always be there for ya buddy
  • #4,424
  • Oct 1, 2009 1:50am Oct 1, 2009 1:50am
Quoting Pharoah
I'll always be there for ya buddy
I knew I could count on you, my friend. It was almost a relief . . . getting that close to a record is really stressful.
Greetings from Guanajuato, Mexico
  • #4,425
  • Oct 1, 2009 4:00am Oct 1, 2009 4:00am
Quoting yonnie
and what about adding/subtracting 40-50 pips to the closing price and have a 80-100 pips box every week.

closing price +/- 50 pips: 143.50; box is 144.00 high and 143.00 low

closing price +/- 40 pips: 143.50; box is 143.90 high and 143.10 low

so simple

Yonnie, I've thought from your earlier posts that you knew what you were doing and where you wanted to go with this system. Your posts have a clarity and simplicity to them that I like.

I've almost been expecting you to come up with a development which gets my juices flowing, (that's salivary juices, Yen) and here you go with a stunner. (sorry Stunna) Thanks again for this and your other posts.

Regards
Bal
The dream will never die
  • #4,426
  • Oct 1, 2009 5:43am Oct 1, 2009 5:43am
thank you brotyboy for your kind words.

I dont post as much as I would like, `cos I feel the posts concerning the strategy get lost among all the jokers here. I`m sure there will be others that feel the same way.

Just get your SL and TP from backtesting manually and you`ll be streets ahead of most other posters.

good luck
  • #4,427
  • Edited 9:23am Oct 1, 2009 7:28am | Edited 9:23am
Quoting yonnie
billyjoe,

I know you haven`t posted a lot, but thank you for your contribution so far; even with these few posts you have done more than most of the posters here.

and no, you dont need a EA to backtest this simple strategy and I wouldn`t trust it anyway.
the period 29 March to 21 September is only 26 weeks and you are better off to do the backtesting manually like I do.
it might even open your eyes to other things which wont be revealed with an EA.

one of your interesting ideas is putting on another trade if up +100 pips.
you got to realize...

Hello Yonnie, thanks for your message.

You are right, my mind was a backtesting of several years but like you said, backtest it manually for the 6 last month will be very helpfull and better for the actual market's "mood", I'll do it once I got time and let you know, maybe this week end.

Of course add a trade once +100pips (as example) will be less good during ranging period but a good trade which give +600 pips will give an awesome R/R !

This is not yet my style, as I hate big drawdown which risk to stop make me trading just before the "good" trade but I think this is the way to trade, but I am just not ready for that, I only trades since 2 years.

My Idea was to figure out what is Ace's new method, I think that to get a big R/R like Ace mentionned, it is by putting a smaller stop that Ace's original method and/or "building the position".

If each 100 pips (or each x ATR, or each x box size, etc...) we take a new trade and put the last in break even, the new trade and only the new trade will be a risk of 1% (for example) like the first.

But if this continue until 600 pips (our target) and each 100 pips we have added a trade (still as example) we will have 6 x trades instead x 1 but still with 1% risk because the gain of the actual trade are used and not our balance to get a big R/R.

So if the target of 600 pips is reached, the first would give 6% profit, second 5%, third 4%, fourth 3%, fifth 2% and the last 1%.

This would give us a total of 20 % profit (1:20 R/R) just by let our risk exposure of 1% longer than the initial method. Of course it won't be any break even or small profit if the trade does not make a big mouvement, but if it does, it will end in a huge profit...

and if you did put your stop loss at half of the box it could be much bigger.

Just my thought, please feel free to comment.


Regards,
Billyjoe
  • #4,428
  • Oct 1, 2009 7:41am Oct 1, 2009 7:41am
Quoting barbs666
wow the backtesting results are really impressive, i am trying the weekly ATR with the box breakout system (thx Ace) and seeing the relation between the two.... using some price action and major S&R levels to confirm a trade.... gonna start this week! will let u know how i go.

looking forward to the 'new' system Ace

Hello Barbs666,

I think like you, that the volatility is very important.

I do not follow the ATR but just the range of last week (high - low), this is, as I think, more reliable, this give us quickly the mood of the market, if the market is ranging you can get an indication of that very fast.

The ATR is of the last 14/20, etc...week, my way is to know the last week, so less drawdown and, still as I think, more reliable take profit.

Of course the bad thing is that if the market really move after the ranging period you will miss it, but it could be for the next week... and you didn't miss too much on the last ranging period.


Regards,
Billyjoe
  • #4,429
  • Oct 1, 2009 7:46am Oct 1, 2009 7:46am
Quoting yonnie
If you use WTR then the 7-WTR is 494 pips.

When you enter after a move of 350 pips, then there`s not a hell of a lot left if this week indeed moves 494 pips.

But who knows, this week might be a BIG FAT move.

Hello Yonnie, I agree too, the first candle is too big to use it for a breakout.

For me, I would be looking for a candle in the range of the first candle and this will be my breakout candle.


Regards,
Billyjoe
  • #4,430
  • Oct 1, 2009 7:57am Oct 1, 2009 7:57am
Quoting shiko
my my, got up just to have a drink and look at our weekly 4H candle and this. i expected the fall to continue, but this reminds me of last year August 6-8.
i would not go long.

Hello Shiko,

I went long after the second candle which was in the range of the first (that big it was not difficult), I went long with a take profit at 500 pips, after 250 pips I put the stop loss at break even, now waiting for the end of the week...


Regards,¨
Billyjoe
  • #4,431
  • Edited 9:08am Oct 1, 2009 8:17am | Edited 9:08am
Quoting yonnie
and what about adding/subtracting 40-50 pips to the closing price and have a 80-100 pips box every week.

closing price +/- 50 pips: 143.50; box is 144.00 high and 143.00 low

closing price +/- 40 pips: 143.50; box is 143.90 high and 143.10 low

so simple
Hello Yonnie,

an interesting way (as many do) is to take the open of the week and based on a % of the volatility place your entry and stop loss.

For example if range of the last week was 500 pips, you could take 10% of this (for example) to add on your weekly open to place your trade and placing the stop loss below the weekly open.

Regards,
Billyjoe
  • #4,432
  • Oct 1, 2009 9:05am Oct 1, 2009 9:05am
Quoting Brotyboy
I've almost been expecting you to come up with a development which gets my juices flowing, (that's salivary juices, Yen) and here you go with a stunner.
Regards
Bal
Darn . . . everyone's starting to anticipate my moves.
Greetings from Guanajuato, Mexico
  • #4,433
  • Oct 1, 2009 2:17pm Oct 1, 2009 2:17pm
can i know the latest EA here?
can't find too much pages
  • #4,434
  • Oct 1, 2009 2:50pm Oct 1, 2009 2:50pm
Quoting special0nefx
can i know the latest EA here?
can't find too much pages
I am not sure myself, but you can click the box with the paperclip at the top of the page on the right and it will list all the attachments by date.
  • #4,435
  • Oct 1, 2009 2:51pm Oct 1, 2009 2:51pm
Quoting special0nefx
can i know the latest EA here?
can't find too much pages
Hello Stranger!
Yen-formation is closed this time but have no worries. as soon as he awakens you will be taken care of
  • #4,436
  • Oct 1, 2009 5:16pm Oct 1, 2009 5:16pm
Quoting yonnie
I dont post as much as I would like, `cos I feel the posts concerning the strategy get lost among all the jokers here. I`m sure there will be others that feel the same way.
We always managed to combine serious trade talk with a healthy dose of humor on the old OzFX thread, and most seemed to enjoy it. However, it seems to bother some traders on this thread. I tried to cut down on the humor to some degree and the google photos to a great degree, but apparently it still remains an issue.

I respect Yonnie's contributions greatly, and if humor is preventing posts from him on a more regular basis, that's the last thing I want. So, I will cease and desist except for the occasional post regarding the system and nothing but the system . . . seriously.

Good trading to all.
Greetings from Guanajuato, Mexico
  • #4,437
  • Oct 1, 2009 5:19pm Oct 1, 2009 5:19pm
Quoting yen44x
We always managed to combine serious trade talk with a healthy dose of humor on the old OzFX thread, and most seemed to enjoy it. However, it seems to bother some traders on this thread. I tried to cut down on the humor to some degree and the google photos to a great degree, but apparently it still remains an issue.

I respect Yonnie's contributions greatly, and if humor is preventing posts from him on a more regular basis, that's the last thing I want. So, I will cease and desist except for the occasional post regarding the system and nothing but...
OP not around, Yen gone cept for the occasional trade related post? listen, I hear something... sounds like a toilet.
  • #4,438
  • Oct 1, 2009 5:31pm Oct 1, 2009 5:31pm
Quoting Pharoah
OP not around, Yen gone cept for the occasional trade related post? listen, I hear something... sounds like a toilet.
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  • #4,439
  • Oct 1, 2009 8:24pm Oct 1, 2009 8:24pm
Quoting yen44x
We always managed to combine serious trade talk with a healthy dose of humor on the old OzFX thread, and most seemed to enjoy it. However, it seems to bother some traders on this thread. I tried to cut down on the humor to some degree and the google photos to a great degree, but apparently it still remains an issue Good trading to all.
Yen, thank you for your vote of confidence.......

The humour is really not the issue.....I like it as much as anybody else. So dont stop joking, but you might incorporate it in your trading posts.

BUT, if you get it page after page and there is no contribution on the system (yeah well its a weekly system and we`re stopped out and we have nothing else to do) while everybody knows there is a far better system out there, that is what gets up my nose.

I think at the time you and I were about the only ones contributing anything worthwhile apart from some posters who joined later. Sorry if I overlooked somebody.

I believe in banter, but also in a lot of hard work to improve the system and I got the feeling that most were just waiting there to get the improvements handed to them on a plate by Ace.

I for one spend at least 4 hours a day on backtesting. Most of it disappears in the waste basket, but there are sometimes a few nuggets left.
If one reads up about all the professional traders you`ll notice that they work long long hours to polish their game plan.

I believe in work AND play!
  • #4,440
  • Oct 1, 2009 8:40pm Oct 1, 2009 8:40pm
Quoting yonnie
If one reads up about all the professional traders you`ll notice that they work long long hours to polish their game plan.

I believe in work AND play!
Couldn't have said it better myself yonnie
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