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4H Box Breakout

  • #5,041
  • Jul 21, 2010 9:46pm Jul 21, 2010 9:46pm
This is mechanical system as every one state it here.I use this system after 1tp is hit i enter in trade & use trendeline to protect this give me 90% results.For this system we have observe little bit so bcoz of this some will not call this mechanical.We need result which should +ve & this system gives .
  • #5,042
  • Jul 22, 2010 5:05am Jul 22, 2010 5:05am
ace check your mail..
  • #5,043
  • Jul 25, 2010 9:13pm Jul 25, 2010 9:13pm
Giving it a go this week
  • #5,044
  • Jul 26, 2010 1:09am Jul 26, 2010 1:09am
Quoting Ace284
Its been a while...months...
Hope all you guys are doing well; Yen, shiko, Ron, Pharoah, Droland, Bobcat, lolpie, andy, wrenski...just to name a few.

Its unfortunate that this thread fell apart. I remember back when I was trading this system during late 2008 and early 2009, it was extremely profitable. After sharing the system here on FF, the profits started to slow down until it just stopped producing. That's not to say that it was forexfactory's fault, or that posting my system made it fail. Or did it.... But to be honest, this system...
good to see you back,

yes sometimes we need to take time off, and fully understand ur predicament.

I did start out using this system but was losing so went to S&R and modifyed it to using daily levels for the breakout and ATR in mind too.
  • #5,045
  • Jul 26, 2010 1:13pm Jul 26, 2010 1:13pm
was wondering what happened to you. I haven't been trading the 4hour breakout as it ended up putting a big dent in my account for a while there. Been trading the 3 ducks system with the addition of trendlines and s/r and have been having great success.
  • #5,046
  • Apr 26, 2011 12:59am Apr 26, 2011 12:59am
Hey everyone so anyone still trading this still? I have been using this for over a year now and has been pretty good too me.

I will start posting here more often too see how it keeps going.
  • #5,047
  • Apr 26, 2011 2:33am Apr 26, 2011 2:33am
post your results and indicate if you were trading on live account and with who and what time zone you are in please
  • #5,048
  • May 4, 2011 2:30am May 4, 2011 2:30am
I'm using this strategy and here are the results since December 1-April 30

1075 pips TOTAL and that includes my broker spread of 5 pips. My strategy may differ slightly because this is how I do my tp and sl. I enter my first order of the week 10 pips above/below the high/low price for the 4 hour period that was assigned in the beginning of this thread. At that point, I place my stop loss on the opposite side of that 4 hour candle +10 pips, but never to exceed 75 pips! For example if the gbp/jpy was running from 133.00 to 133.50 for that 4 hour period I would place a sell at 1.3290 (dont forget broker spread!) and a stop loss at 133.60. My take profits would therefore be 50 pips on the first half and 100 pips on the second half. If it did reverse and during the week go through the high, I enter that order as well! About half the time you would see two orders for one week and in many cases the second one was profitable where the first one was not. 5 of the 7 weeks with double orders had at least one way profitable. This means, by placing that second order you made up the loss 5 of the 7 times! Well worth it. I had 16 profitable weeks and 6 non profitable weeks. If you started with $10,000 and ran one lots per trade (meaning your risk was 3.5%-7.5% which is high by the way) You would have ended this last five months with a return of 53.75% without compounding. If you compounded your returns thats just over 100% in five months. Very nice! I hope this helped someone. And by the way, I would NEVER put more than 3% risk on any of these trades.
  • #5,049
  • May 5, 2011 9:34am May 5, 2011 9:34am
Hi everyone,

Im testing this method but I added 10 SMA, Parabolic SAR, Fractals, trend lines.
I check the trend on W,D and H4 TF's.
I will enter the trade if I can confirm the trend on at least 2 TF's daily and H4.
I look for trend line break, box break, candle has to close below/above TL and box. Parabolic SAR and Fractal have to confirm the PA direction.
I dont just open blindly pending orders on both sides of the box.
Monday isnt good day to open trades.
I move SL to BE after 30-40 pips profit. Better hit BE than SL.
I trade 2 lots now only, close 1 lot at TP1 and keep moving SL till its possible.


Good Luck
Attached Image(s) (click to enlarge)
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  • #5,050
  • May 11, 2011 12:33pm May 11, 2011 12:33pm
Hi all.
I´m reading from the begining of this thread ( now in page 99 ) and im impressed with the Ace284 system.

I would like to know if there is still someone using it and how it goes.

I can wait to use it the next weekly open.

Thanks.
  • #5,051
  • Jul 9, 2011 3:33am Jul 9, 2011 3:33am
Quoting Ace284
Yeah, I agree.

Like I said, i've switched to Trend line and S/R trading. When I look at strategies now I ask myself why it works and for how long it'll continue to work. Is it just an optimized random strategy? or has it worked for a long time. Don't get me wrong, optimization can be great but in my experience, and a lot of more experienced traders will vouch for me when I say that it requires tons of manual work and can easily stop working in the future. Unless you're a programmer...but that's another story. Markets do change and it can completely...
Is it just an optimized random strategy?

good!
It's a basic statistical problem. you figured it out yourself? so smart!

that's why I think basic statistical knowledge is a requirement for trading.
  • #5,052
  • Oct 21, 2011 2:18pm Oct 21, 2011 2:18pm
Looks like I stumbled upon this thread a little too late. The last post was from July. Is anyone still around?
  • #5,053
  • Oct 23, 2011 2:32pm Oct 23, 2011 2:32pm
I have been using it for some time now on just the GBPJPY and USDJPY it has been profitable over the last few months. Just had to change the way ACE did his strategy a bit. But for about 100 pips a week for almost no work I will take it.
  • #5,054
  • Nov 13, 2012 3:25am Nov 13, 2012 3:25am
Quoting gustav213
I have been using it for some time now on just the GBPJPY and USDJPY it has been profitable over the last few months. Just had to change the way ACE did his strategy a bit. But for about 100 pips a week for almost no work I will take it.
Fantastic news!!! How do you trade it?
  • #5,055
  • Jan 21, 2013 8:18am Jan 21, 2013 8:18am
Hi I have different readings with 2 different metatrader 4 platforms. First platform is Alpari UK and second is Markets.com of the Netherlands. The box high and low are different.

As you can see in the pics, the candlestick do line up differently.

Alpari UK : box high 143.2650
Markets.com : box high 143.1500

Alpari UK : box low 141.6240
Markets.com : box low 141.6000

How is this possible and which reading is correct.
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  • #5,056
  • Jan 22, 2013 1:40am Jan 22, 2013 1:40am
Quoting razortron
Hi I have different readings with 2 different metatrader 4 platforms. First platform is Alpari UK and second is Markets.com of the Netherlands. The box high and low are different.

As you can see in the pics, the candlestick do line up differently.

Alpari UK : box high 143.2650
Markets.com : box high 143.1500

Alpari UK : box low 141.6240
Markets.com : box low 141.6000

How is this possible and which reading is correct.
MMM.. i can see how tha would be possible?? Can you.. ?? maby you should check other platforms??till you get some that are in agreeance..What do you think??
  • #5,057
  • Edited 3:21am Jan 22, 2013 2:24am | Edited 3:21am
Well, did do a little bit of reasearch and found out that different brokers have different partners, which use different prices. So I will go with the platform I'm currently trading with. At the moment I am 62 pips in the plus (for now) opened short at GBP / JPY 141.60, take profit at 140.05. Will see what it brings me.

So far so good.

edited 10:08 , closed it with +122 pips. Did not have the discpline to go al the way for tp 1 and so I have mismanaged my money strategy (still learning this discipline).

edited 10:20 just waiting 12 minutes more and I had touch my take profit of 140,05. Just being plain stupid. I hope next week I have the discpline to wait for the take profit level 1, and not to monitor it so often. As I write it still going down the hill
  • #5,058
  • Edited 12:57pm Jan 23, 2013 3:25am | Edited 12:57pm
Hi Guys, These trades are going great....GB/JAP is up 260 at the moment...!!!

is anyone else still in touch with this thread ??????

feel free to post, cheers, Steve
  • #5,059
  • Jan 24, 2013 5:55am Jan 24, 2013 5:55am
Hi Steve,

well I'm in. Just had 1 trade as mentioned above, but seems most of the guys have altered or moved to another system.

I think this system is great as long as you have the right risk management because the stop-loss range is quite big. So your account has to be able to easily take one, two three punishments. but looking at the charts hit has been profitable in the last 6 weeks.
  • #5,060
  • Jan 26, 2013 1:17am Jan 26, 2013 1:17am
Thanks for your posting....I shall look at the C/stick on Mon my time,

I shall post the trade as I see it and hope to get a reply, hope for some tips too..!!!!

let's try to get this strategy going again..!!!

Good luck, Steve
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