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4H Box Breakout

  • #4,521
  • Oct 3, 2009 2:48am Oct 3, 2009 2:48am
Quoting yonnie
partly, see post 4484

Ok, so the 30 pip lock in, and the takeprofit using ATR.

What are the parameters of the ATR and the "takeprofit" conditions and I will backtest this.
  • #4,522
  • Oct 3, 2009 2:52am Oct 3, 2009 2:52am
Quoting Pharoah
If there was no pre-determined stoploss setup, then it's managing the system, if there is a pre-determined stoploss setup, than it's lack of faith.
The only system that I know of that does not use a pre-determined stop loss for the 4H Box strategy is yours. While it may prove to be a great adaptation, and I hope it is, are you really saying that anyone not using your system has a lack of faith in the 4H Box strategy?
Greetings from Guanajuato, Mexico
  • #4,523
  • Oct 3, 2009 2:53am Oct 3, 2009 2:53am
Quoting Jesper
Thanks mate!

Also, i know you can download currency histories and trade "offline" in a training purpose over the weekend.
Where can you download that stuff?
Actually, this cannot be done with MT4, you need separate software for weekend trading. The data that you find in the "History Center" is only price action, if you run a backtest, and attempt to place manual trades on the chart, it will tell you the market is closed, because while you're clicking and attempting to trade on the "Visual" window for the strat tester, it's still a currency chart, and is attempting to trade in realtime.

This requires you to record all information yourself, as there will be absolutely no trade activity at all. Maybe I'm wrong, but I've not found a way to backtest manually without having to setup a xml spreadsheet using MT4.
  • #4,524
  • Oct 3, 2009 2:56am Oct 3, 2009 2:56am
Quoting yen44x
The only system that I know of that does not use a pre-determined stop loss for the 4H Box strategy is yours. While it may prove to be a great adaptation, and I hope it is, are you really saying that anyone not using your system has a lack of faith in the 4H Box system?
No, I'm not saying that at all, what I'm saying is that the vast majority will attempt to adapt something of their own. If this wasn't the case, there wouldn't be all this talk of alterations... and the original OP wouldn't have felt the need to make an advanced version. Lack of faith can show it's face in many many different ways, for alot of us here, it shows itself in a productive and progressive fashion. While in others, it leaves them completely faithless.

I think the misunderstanding is there is a HUGE difference in Lack of faith, and Faithless.
  • #4,525
  • Oct 3, 2009 3:00am Oct 3, 2009 3:00am
Quoting Pharoah
No, I'm not saying that at all, what I'm saying is that the vast majority will attempt to adapt something of their own. If this wasn't the case, there wouldn't be all this talk of alterations... and the original OP wouldn't have felt the need to make an advanced version. Lack of faith can show it's face in many many different ways, for alot of us here, it shows itself in a productive and progressive fashion. While in others, it leaves them completely faithless. I think the misunderstanding is there is a HUGE difference in Lack of faith, and Faithless....
OK, fair enough . . . I think, like you said, everyone's looking for an edge and so let's keep at it.

At this point, Yonnie (and everyone else) is probably wishing I would just stick to humor instead of trying to come up with "areas of interest".

Good night all.
Greetings from Guanajuato, Mexico
  • #4,526
  • Oct 3, 2009 3:08am Oct 3, 2009 3:08am
Quoting yen44x
OK, fair enough . . . I think, like you said, everyone's looking for an edge and so let's keep at it.

At this point, Yonnie (and everyone else) is probably wishing I would just stick to humor instead of trying to come up with "areas of interest".

Good night all.
No no, it's quite alright yen. At first glance, that is what it appeared as tho I was saying. I have a very complex way of thinking I know, but it's all very rational and logical.
  • #4,527
  • Edited 4:33am Oct 3, 2009 4:11am | Edited 4:33am
Quoting Pharoah
Ok, so the 30 pip lock in, and the takeprofit using ATR. What are the parameters of the ATR and the "takeprofit" conditions and I will backtest this.
oh thanks Pharoah........

I dont know how you would do the backtesting of the initial lock-in profit, but personally I would go like this:

I would write down all pips from my entry price.
say week 29 March, entry price say 140.64, went to 144.21, closed at BE.
I write down 140.64 /+357/BE
week 19 April, entry price 145.75, went to 141.49, all the way back to 145.12 (within 63 pips of my entry), down again to 140.58
I write down 145.75/+426/+63/+517

If these were the only weeks, I might conclude that it is safe to lock in 60 pips at some stage.

For the take profit I would just write down the maximum amount of pips possible for each week from 29th of March before hitting BE or SL.
The entry is 4H high/low +/- 20 pips. Is that correct?

Getting a bit late here and not sure if I`m missing something.
  • #4,528
  • Oct 3, 2009 4:39am Oct 3, 2009 4:39am
Quoting Pharoah
Actually, this cannot be done with MT4, you need separate software for weekend trading. The data that you find in the "History Center" is only price action, if you run a backtest, and attempt to place manual trades on the chart, it will tell you the market is closed, because while you're clicking and attempting to trade on the "Visual" window for the strat tester, it's still a currency chart, and is attempting to trade in realtime.

This requires you to record all information yourself, as there will be absolutely no trade activity at all. Maybe...
Hi

do you know wahat that software is called, i'm trying to google for it, but i must be using all the wrong search words.
  • #4,529
  • Oct 3, 2009 5:49am Oct 3, 2009 5:49am
Quoting Jesper
Hey Shiko

when you say leverage 0,2:1 what does that mean?
I mean i get the 1:1 leverage, but 0,2:1 ??

How is that possible?
Also max DD, does that mean that your account when it was in it's lowest state, it was 99,5% of your starting balance?

Man i feel like a noob, *looks at himself* holy crap.... I AM a noob!!! ....NOoOOoOOOOOOooOoo!!!!!!!!!!

0:2 leverage means that i open 1 position on $100 000 account with just $2 per pip and my stop loss would be $1000 = 1%. but i do open more positions all of same size but stop loss usually same place, take profit whenever it is reasonable and leaves something to run.
no, i have never been below $100 000 on this account. it was just 0.5-0.6% drop from the high point.
  • #4,530
  • Oct 3, 2009 5:53am Oct 3, 2009 5:53am
Quoting Jesper
Another question, where do i find that FXDD balance statistics thing in your picture?

Does anyone know if this also exists with FXCM?
i cannot download it into this blog, size is too big. PM me your email and i will send you complete history. i am done with this account and returning to live trading since Monday.
  • #4,531
  • Oct 3, 2009 8:14am Oct 3, 2009 8:14am
Hi Everyone

Just got onto this thread and it looks to have some interesting points, not sure though if you can make money on it, for the following reasons below.

Looking at the GBPJPY over the last 4 weeks I see the following

week ending 11/09 - indicated long and reveresed - loss = 109 pips
it then went short and made it too TP1 - win = 109 pips
total gain = 0

week ending 18/09 - indicated short, reversed loss = 92 pips
it then indiacted long and reversed, loss= 92 pips
it then indicated short and made it to TP1 , win = 92 pips
it then indicated long and reversed, loss = 92 pips
it then indicated short and made it too TP2 win = 184 pips (scaled out)
total gain = 0

week ending 25/09 - indicated long made it to TP1, win = 101 pips
then indicated short and made it to TP3 (and beyond) win = 303 pips (scaled out)
total gain = 404 ( but could have been 908 if you had more TP targets boxes)

week ending 01/10 - indicated long, retraced and currently sits at,
- 258 pips

so total gain for 4 weeks is = 146 pips including current losing position.

Well my question is, do you think that is about average for a month and also at the begining of this week the candle was a monster 341 pips, so they are very large TP's to go for...would we make an adjustment based on the fact the the previous week price feel like a stone ?

cheers


ab1
  • #4,532
  • Oct 3, 2009 9:50am Oct 3, 2009 9:50am
Quoting shiko
i cannot download it into this blog, size is too big. PM me your email and i will send you complete history. i am done with this account and returning to live trading since Monday.

Hi

thanks for the answer about the leverage!

I'm not sure i follow you, i didn't mean i that wanted your personal statistics, i meant to ask how i can find it in FXDD to check my own statistics.
Or what did you mean?
  • #4,533
  • Oct 3, 2009 9:58am Oct 3, 2009 9:58am
Quoting ab1
Hi Everyone

Just got onto this thread and it looks to have some interesting points, not sure though if you can make money on it, for the following reasons below.

Looking at the GBPJPY over the last 4 weeks I see the following

week ending 11/09 - indicated long and reveresed - loss = 109 pips
it then went short and made it too TP1 - win = 109 pips
total gain = 0

week ending 18/09 - indicated short, reversed loss = 92 pips
it then indiacted long and reversed, loss= 92 pips
it then indicated short and made it to TP1 , win = 92 pips
it then indicated...
Yonnie has suggested to make the box size approximately 100 pips big every week, by adding 50 pips the the close of the 1st 4H bar to make the box high, and subtract 50 pips from the close of the 1st 4H bar to make the box low. This system when used with my smartstop system has turned this week into a 365 pip profit week (before my box adjustment method)
  • #4,534
  • Oct 3, 2009 10:07am Oct 3, 2009 10:07am
Quoting Pharoah
Yonnie has suggested to make the box size approximately 100 pips big every week, by adding 50 pips the the close of the 1st 4H bar to make the box high, and subtract 50 pips from the close of the 1st 4H bar to make the box low. This system when used with my smartstop system has turned this week into a 365 pip profit week (before my box adjustment method)

I don't see the 365 pips you are claiming. Can you give me your entry and exit numbers? Is this based on the FXDD broker?
  • #4,535
  • Oct 3, 2009 10:20am Oct 3, 2009 10:20am
Quoting wrenski
I don't see the 365 pips you are claiming. Can you give me your entry and exit numbers? Is this based on the FXDD broker?
http://www.forexfactory.com/showthread.php?t=199622

First post, first page, from images on you'll see the data. This includes closing half position at TP1
  • #4,536
  • Oct 3, 2009 10:29am Oct 3, 2009 10:29am
Quoting Pharoah
http://www.forexfactory.com/showthread.php?t=199622

First post, first page, from images on you'll see the data. This includes closing half position at TP1
Man those charts are eye killers. It appears you entered at 140.85. What was you exit number?
  • #4,537
  • Oct 3, 2009 10:35am Oct 3, 2009 10:35am
Quoting wrenski
Man those charts are eye killers. It appears you entered at 140.85. What was you exit number?
The trade was executed at 140.85, first half position closed at 141.85 (+100) second half closed at 143.5 (+265)

For a grand total of 365 pips

Those charts to me aren't bad... not compared to some I've seen floating around here (not in this particular thread). Just disregard any of the Solid MA's, they are irrelevant to the system. Concern yourself with the Solid yellow Lines, and the the Dotted (green and yellow) MA's, those are all that should be considered.
  • #4,538
  • Oct 3, 2009 10:40am Oct 3, 2009 10:40am
Quoting Pharoah
The trade was executed at 140.85, first half position closed at 141.85 (+100) second half closed at 143.5 (+265)

For a grand total of 365 pips
Thank you.

I prefer my charts to be as clean as possible. Too many wiggly lines create chaos.
.
  • #4,539
  • Oct 3, 2009 10:42am Oct 3, 2009 10:42am
Quoting wrenski
Thank you
No problem, I'm going to be re-doing new cleaner charts for the post next week, as alot of information you see on that chart is not required.
  • #4,540
  • Oct 3, 2009 12:12pm Oct 3, 2009 12:12pm
Quoting Jesper
Hi

do you know wahat that software is called, i'm trying to google for it, but i must be using all the wrong search words.
Search for "Forex Strategy Tester"

it should come up with some strat testing software that is free.
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