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4H Box Breakout

  • #4,921
  • Oct 13, 2009 3:32am Oct 13, 2009 3:32am
Quoting shiko
yes to me too. plus, partial profit taking on original trade and moving stop loss accordingly to protect gains and insure against possible reversal of new position.
Exactly, this is nearing the "BoxTrail" system that is employed by Banker Buster, only with this system, it opens a position while a position is open, Banker Buster is made to only have 1 trade open at 1 time, but can have multiple breakouts throughout the week, even if every trade was profitable, and the price never returned to the original price at all, when 1 trade gets stopped out, it sets up a new box.
  • #4,922
  • Oct 13, 2009 4:27am Oct 13, 2009 4:27am
I am already working on this. opened break out trades on USD/Can, USD/ AUD and E/U. closed 50% positions at 30-40 pips and moves stop loss to BE. now I will be waiting. if true break out and I am not stopped out, I will wait till some target S/R reached and move stop loss another 40 pips and wait. when there wil be break out attempt I will enter with similar sized position but probably with shorter stop loss...to save on fakeouts. when break out is real or at least goo momentum it shows quickly.
  • #4,923
  • Oct 13, 2009 9:17pm Oct 13, 2009 9:17pm
This captain is supposed to go down with the ship, but he left weeks ago, and it appears this ship we call a "thread" is sinking rapidly. I'm going to grab a life preserver while they're still available and head for the nearest lifeboat.

The last few weeks have exposed some serious flaws in the method. The main problem I see is similar to what 11Andy11 mentioned a while back . . . this method compels you to keep trading after weeks of losses in the hope that a breakout will occur and the R:R will come to the rescue. True, one win can make up for a lot of losses, but at some point the dwindling account balance will test the psyche of even the strongest trader.

I'm going to be watching with a great deal of interest Pharoah's thread in the hopes that the Smart Stop system will be the solution we've all been looking for. If I see something else of interest on FF, I'll check back in to let you all know.

The burros hate to say "goodbye", and I can't stand the sound of them crying, so I'll keep it short and sweet....."adios y buena suerte a todos" (goodbye and good luck to all).
Greetings from Guanajuato, Mexico
  • #4,924
  • Oct 13, 2009 10:10pm Oct 13, 2009 10:10pm
Quoting yen44x
This captain is supposed to go down with the ship, but he left weeks ago, and it appears this ship we call a "thread" is sinking rapidly. I'm going to grab a life preserver while they're still available and head for the nearest lifeboat.

The last few weeks have exposed some serious flaws in the method. The main problem I see is similar to what 11Andy11 mentioned a while back . . . this method compels you to keep trading after weeks of losses in the hope that a breakout will occur and the R:R will come to the rescue. True, one win can make up...

Stop saying good-bye, Yen. You,Pharoah,Shiko,Yonnie etc etc...all must stay in order to keep this thread continue...pls do not leave as we esp newbies need all your supports, jokes and ideas (even is a funny ideas).....

  • #4,925
  • Oct 14, 2009 12:19am Oct 14, 2009 12:19am
Quoting yen44x
This captain is supposed to go down with the ship, but he left weeks ago, and it appears this ship we call a "thread" is sinking rapidly. I'm going to grab a life preserver while they're still available and head for the nearest lifeboat.

The burros hate to say "goodbye", and I can't stand the sound of them crying, so I'll keep it short and sweet....."adios y buena suerte a todos" (goodbye and good luck to all).
Hate to see ya go. Please wait for me. As you can see, besides my family, I am low maintenance and I come with my own accommodations. I got the kids new flippers. Therefore I should be able to catch up with you very soon.

You seem to be the only one who can appreciate my slanted view of life. Believe it or not it helps me stay sane or is it the meds.

http://img2.photographersdirect.com/.../pd2222909.jpg
  • #4,926
  • Oct 14, 2009 12:25am Oct 14, 2009 12:25am
Quoting yen44x
This captain is supposed to go down with the ship, but he left weeks ago, and it appears this ship we call a "thread" is sinking rapidly. I'm going to grab a life preserver while they're still available and head for the nearest lifeboat.

The last few weeks have exposed some serious flaws in the method. The main problem I see is similar to what 11Andy11 mentioned a while back . . . this method compels you to keep trading after weeks of losses in the hope that a breakout will occur and the R:R will come to the rescue. True, one win can make up...

Obviously original system is not performing well. 4% per trade would kill any account by now.
What I want to add that this system also has good idea but it is incomplete when it comes to milking breakouts to the fullest. Trade management with adding to winning positions.
I am trading with few system now. with my version I am 0.8% down so far.It is pity you go Yen, after Ace gone you have been the soul of this thread along with Pharoah.
  • #4,927
  • Oct 14, 2009 12:32am Oct 14, 2009 12:32am
I want to add this one has been one of the most enjoyable trading forums so far. plus, we have exchanged a lot of good trading ideas. I think Yen, you can stop trading original set up but still come here
  • #4,928
  • Oct 14, 2009 12:45am Oct 14, 2009 12:45am
By the way, we can start discussing Bird watching in Lion Country method. actually, the guy who has has been trading this method has his thread on FF.
I am currently learning to trade this method on 2 demos and traded it one week on live. results are good in any market conditions. It is no system, we gotta use our brains to trade it. I will look up and post that thread address and hopefully we can meet there. as I say BWILC is working in all market conditions.
and do not consider time spent here lost. every strategy has something to offer for learning...and something always can be picked.


Come and check this thread...


http://www.forexfactory.com/showthre...=195287&page=2

The guy who has started this thread and trading this method Xaron, has won
this year FX Street competition and got a job with big fund. he is currently trading institutional funds using this method...
  • #4,929
  • Oct 14, 2009 12:47am Oct 14, 2009 12:47am
http://www.forexfactory.com/showthread.php?t=86429


also, those who interested in BWILC should read first page and first few hundreds pages with originator's opinion of the above posted thread. BWILC + No Brainer Trades make a great couple. It all has sense.
  • #4,930
  • Oct 14, 2009 12:55am Oct 14, 2009 12:55am
Quoting penfield
Hate to see ya go. Please wait for me. As you can see, besides my family, I am low maintenance and I come with my own accommodations. I got the kids new flippers. Therefore I should be able to catch up with you very soon.

You seem to be the only one who can appreciate my slanted view of life. Believe it or not it helps me stay sane or is it the meds.

http://img2.photographersdirect.com/.../pd2222909.jpg

Grow up Peinfield Let's all go another place The place that works in all market conditions and we gotta use our brains to trade. i see good company here and it would be a good idea starting working on good trading method with such a wonderful team
  • #4,931
  • Oct 14, 2009 6:11am Oct 14, 2009 6:11am
Quoting yen44x
This captain is supposed to go down with the ship, but he left weeks ago, and it appears this ship we call a "thread" is sinking rapidly. I'm going to grab a life preserver while they're still available and head for the nearest lifeboat.

The last few weeks have exposed some serious flaws in the method. The main problem I see is similar to what 11Andy11 mentioned a while back . . . this method compels you to keep trading after weeks of losses in the hope that a breakout will occur and the R:R will come to the rescue. True, one win can make up...
Adios me amigo!
  • #4,932
  • Oct 14, 2009 6:55am Oct 14, 2009 6:55am
Quoting fxann
Stop saying good-bye, Yen. You,Pharoah,Shiko,Yonnie etc etc...all must stay in order to keep this thread continue...pls do not leave as we esp newbies need all your supports, jokes and ideas (even is a funny ideas).....
FXAnn . . . thank you. Let me explain it this way . . . knowing when to exit a profitable trade is an art form. Knowing when to exit a thread is difficult at times too, especially a thread such as this where I've gotten to know a lot of good traders and people, and I feel a responsibility to newbies. But, would it be responsible of me to suggest to newbies that I see a glimmer of hope with this method when it's just not true?

Much like failing to exit a trade and watching the profits disappear, I've overstayed my time on this thread. I don't, and haven't, traded the original method in quite some time. I've tried adaptations without much improvement. I've just run out of things to say that might be constructive.

Worse yet, I've used all my jokes.

Best wishes to you, FXAnn.
Greetings from Guanajuato, Mexico
  • #4,933
  • Oct 14, 2009 6:56am Oct 14, 2009 6:56am
In your case, Penfield, it looks like we can keep up our relationship. I took a good look at your boat . . . it appears we're neighbors!

Take care, my friend.

Quoting penfield
Hate to see ya go. Please wait for me. As you can see, besides my family, I am low maintenance and I come with my own accommodations. I got the kids new flippers. Therefore I should be able to catch up with you very soon.

You seem to be the only one who can appreciate my slanted view of life. Believe it or not it helps me stay sane or is it the meds.

http://img2.photographersdirect.com/.../pd2222909.jpg
Greetings from Guanajuato, Mexico
  • #4,934
  • Oct 14, 2009 7:04am Oct 14, 2009 7:04am
Quoting shiko
I want to add this one has been one of the most enjoyable trading forums so far. plus, we have exchanged a lot of good trading ideas. I think Yen, you can stop trading original set up but still come here
Thanks Shiko . . . you get my "Man of the Year" award for enduring all my jokes. I've also enjoyed this thread immensely . . . keep up the good work.
Greetings from Guanajuato, Mexico
  • #4,935
  • Oct 14, 2009 7:05am Oct 14, 2009 7:05am
Quoting wrenski
Adios me amigo!
Adios, my Southern buddy.

But, don't make yourself a stranger . . . Bonita asks about you every day.
Greetings from Guanajuato, Mexico
  • #4,936
  • Oct 14, 2009 3:44pm Oct 14, 2009 3:44pm
Quoting yen44x
FXAnn . . . thank you. Let me explain it this way . . . knowing when to exit a profitable trade is an art form. Knowing when to exit a thread is difficult at times too.
exactly Yen; unfortunately this system doesn`t work for long periods of time....
I would advise everybody to look at a S&R sytem which will pay you regularly over time if you put a lot of work into it like the no brainer thread as shiko said.

good luck Yen and I know you`ll get there if you keep trying cos I know you`re not only funny but also smart.
  • #4,937
  • Oct 14, 2009 7:59pm Oct 14, 2009 7:59pm
Quoting yonnie
exactly Yen; unfortunately this system doesn`t work for long periods of time.... I would advise everybody to look at a S&R sytem which will pay you regularly over time if you put a lot of work into it like the no brainer thread as shiko said. good luck Yen and I know you`ll get there if you keep trying cos I know you`re not only funny but also smart.
Thanks Yonnie, and good luck to you in the stock market. You're analytical, which will serve you well, so I know it's just a matter of finding your niche.
Greetings from Guanajuato, Mexico
  • #4,938
  • Oct 14, 2009 9:55pm Oct 14, 2009 9:55pm
Quoting yen44x
FXAnn . . . thank you. Let me explain it this way . . . knowing when to exit a profitable trade is an art form. Knowing when to exit a thread is difficult at times too, especially a thread such as this where I've gotten to know a lot of good traders and people, and I feel a responsibility to newbies. But, would it be responsible of me to suggest to newbies that I see a glimmer of hope with this method when it's just not true?

Much like failing to exit a trade and watching the profits disappear, I've overstayed my time on this thread. I don't,...
I find it hard to believe that U are all out of jokes. Bonita will be so disappointed to hear that u've lost your sense of humor. . . don't worry though I'm sure Scotty will keep her happy.
  • #4,939
  • Oct 14, 2009 10:16pm Oct 14, 2009 10:16pm
Quoting andante9
I find it hard to believe that U are all out of jokes. Bonita will be so disappointed to hear that u've lost your sense of humor. . . don't worry though I'm sure Scotty will keep her happy.
Hey, my friend, good to hear from you. I'm sure a couple of days of R & R is all I need to recharge the sense of humor.

And, you're right about Scotty . . . Bonita still talks about the time they [CENSORED BY FF] and then to follow up they [CENSORED BY FF].
Greetings from Guanajuato, Mexico
  • #4,940
  • Oct 14, 2009 10:41pm Oct 14, 2009 10:41pm
Quoting yen44x
Worse yet, I've used all my jokes.
Yen,

If having used all your jokes is the reason you are leaving the thread, then I hope to provide a solution. I hereby bequeath all my lame category unused jokes for your use on this thread. There are so many that it should keep you going for several more years. I guarantee they are primo lame quality jokes. For quality assurance I intoduced them to your burros to get their reaction, first. Remember when you thought the burros had been exposed to the flu pandemic? Sorry, but it was really my lame jokes pandemic.

All the best,
Your Wisconsin friend
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