This tends to set the box at a better location for the next breath in the market.
cheers scalpz
- #24
- Oct 2, 2009 1:37pm Oct 2, 2009 1:37pm
- | Joined Feb 2009 | Status: Trader | 2,444 Posts
Hello Pharoah!
the set of rules is long and i am going to read it carefully after i am back home.
i understand the premise. it is multiboxes
the set of rules is long and i am going to read it carefully after i am back home.
i understand the premise. it is multiboxes
Yes I know
Here is a image of last week, I will run everyone through it.
The box formed between 140.85 and 139.85 (total of 100 pip box, Bottom 2 Red Horizontal Lines)
First Trade was triggered (as shown by the first Black Circle) at 140.85, Because the Red MA was above the entry point on this long order, we set a trailing stop of 75 pips.
Take profit 1 was reached (as shown by the Second Black Circle) at 141.85, half the position was closed at +100 pips profit, the other half was left to run.
Trade was stopped out by the Black MA (because the trailing stop by this point has crossed the Black MA, so the stop was set following the Black MA) at 143.50 for a profit of +265 pips (As shown by the 3rd Black Circle).
New box was formed at the close of the 4H candle that closed out the first trade. New box high 144.10 (Top orange line) and a new box low of 143.10 (middle orange line) Trade was not triggered between 08:00 and 00:00 (low of candle was 143.11, low of box was 143.10 (phew)).
Second Trade was triggered at box high at 144.10 (as shown by the First Orange Circle) and was closed out at 143.40 for a loss of 70 pips on both halves (-70*2) (as shown by the Second Orange Circle). Box was not updated.
Third trade was triggered at box low at 143.10 (as shown by the First Green Circle). Takeprofit was reached for close half position at 142.10 for a 100 pip profit (as shown by the Second Green Circle) and the rest was left to continue, to be later closed out at 142.86 (as shown by the last green circle) for a profit of 24 pips
So the grand total is this
1/2 position + 100 pips
1/2 posision + 265 pips
1/2 position - 70
1/2 position - 70
1/2 position +100
1/2 position + 24
For a grand total of 349 pips on half positions.
Here is a image of last week, I will run everyone through it.
The box formed between 140.85 and 139.85 (total of 100 pip box, Bottom 2 Red Horizontal Lines)
First Trade was triggered (as shown by the first Black Circle) at 140.85, Because the Red MA was above the entry point on this long order, we set a trailing stop of 75 pips.
Take profit 1 was reached (as shown by the Second Black Circle) at 141.85, half the position was closed at +100 pips profit, the other half was left to run.
Trade was stopped out by the Black MA (because the trailing stop by this point has crossed the Black MA, so the stop was set following the Black MA) at 143.50 for a profit of +265 pips (As shown by the 3rd Black Circle).
New box was formed at the close of the 4H candle that closed out the first trade. New box high 144.10 (Top orange line) and a new box low of 143.10 (middle orange line) Trade was not triggered between 08:00 and 00:00 (low of candle was 143.11, low of box was 143.10 (phew)).
Second Trade was triggered at box high at 144.10 (as shown by the First Orange Circle) and was closed out at 143.40 for a loss of 70 pips on both halves (-70*2) (as shown by the Second Orange Circle). Box was not updated.
Third trade was triggered at box low at 143.10 (as shown by the First Green Circle). Takeprofit was reached for close half position at 142.10 for a 100 pip profit (as shown by the Second Green Circle) and the rest was left to continue, to be later closed out at 142.86 (as shown by the last green circle) for a profit of 24 pips
So the grand total is this
1/2 position + 100 pips
1/2 posision + 265 pips
1/2 position - 70
1/2 position - 70
1/2 position +100
1/2 position + 24
For a grand total of 349 pips on half positions.
- #28
- Oct 4, 2009 11:05am Oct 4, 2009 11:05am
- | Joined Nov 2007 | Status: Addicted and proud of it! | 174 Posts
Yes I know
Here is a image of last week, I will run everyone through it.
Attachment
The box formed between 140.85 and 139.85 (total of 100 pip box, Bottom 2 Red Horizontal Lines)
First Trade was triggered (as shown by the first Black Circle) at 140.85, Because the Red MA was above the entry point on this long order, we set a trailing stop of 75 pips.
Take profit 1 was reached (as shown by the Second Black Circle) at 141.85, half the position was closed at +100 pips profit, the other half was left to run.
Trade was stopped out...
Addicted and proud of it!
- #31
- Oct 4, 2009 12:22pm Oct 4, 2009 12:22pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
Thanks, that most likely had to be the most easy to understand thing I've posted yet lol
Greetings from Guanajuato, Mexico 
- #32
- Oct 4, 2009 12:48pm Oct 4, 2009 12:48pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
You'll notice tho, on the daily chart that the system found the level of S&R (major or not) at approx 140.80 to form the first box of 140.85 high and 139.85 low, and took advantage of the bounce off the S&R, then put another box above the S&R and took advantage of the return to S&R.
I've highlighted this week in the Red Box
I've highlighted this week in the Red Box
- #35
- Oct 4, 2009 1:11pm Oct 4, 2009 1:11pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
