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  • #2,461
  • May 3, 2012 8:38pm May 3, 2012 8:38pm
Quoting forexhard
Good job, everyone. Nice trades. The Bulls and the Bears have been really going at it lately. Most systems can't cope with a sideways market, and usually only perform when the trend has been established and going strong in a single direction -- especially if it relies on lagging oscillators. Good thing we rely only on pure price action.

My trade set played out exactly the same as my last set from last week, just in the opposite direction. And even though it may not look it, both Sells are on the same level. I simply ignored the second CZ since...

hello forexhard
i like your metode
thank you for your thread i have lurking read for one month

nice entry but i think ,,
some people entry at the same price but the result can vary
it depends how we manage our position...
<< how / where// when we exit >>
<< and how / where // when we ,, add or decrease the troop >>

regards
suma
  • #2,462
  • May 4, 2012 2:39am May 4, 2012 2:39am
Thankyou Kanderpro for your reply- I'll give a go
  • #2,463
  • May 4, 2012 3:31am May 4, 2012 3:31am
Got short cable last night at the green box. At b/e. NFP today, good luck.

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Daz.
Keep smiling
  • #2,464
  • May 4, 2012 5:59am May 4, 2012 5:59am
Quoting hopefultrade
I am a new trader by the accounts I have blown out. Trading for a little over 18 months. In that time I have bought 37 miracle can't miss systems and robots. I have been a member at a number of trading schools and even hired Rob Booker who booked my money in his bank account and told me I just needed more patience.

This system is great in concept because it does cause one to think about what they are going to do.

I have a few questions, and yes I have read the whole thread. Since I still work full time the thing that is most beneficial to me...
Hopeful trade, I certainly hope you are not when you're trading lol.

If you have read the thread then you have obviously missed this post

http://www.forexfactory.com/showthread.php?p=4963178#post4963178

I found it very useful "for me". Trading wise these boxes highlight very neatly areas of consolidation, conjestion, accumulation or distribution, whatever you wanna call it. They are solid launchpads for trade entry. How you trade them is down to you. FH has given some ideas.

Personally I tested various combinations and ideas back over a period of time on cable and EU, for example: using a 5 pip buffer, using no buffer, stop at the the other side of the box, stop at the last swing high, getting to b/e after 10 pips, not using b/e etc etc.....

I found something I like to use, all I need now is a bit more time to get some more trades on. So far I am up slightly using the boxes my way. I have not done many trades but they are all live. Hopefully you can find a way too.

Cheers Daz.
Keep smiling
  • #2,465
  • May 4, 2012 6:39am May 4, 2012 6:39am
Quoting Misterdaz
Hopeful trade, I certainly hope you are not when you're trading lol.

If you have read the thread then you have obviously missed this post

http://www.forexfactory.com/showthread.php?p=4963178#post4963178

I found it very useful "for me". Trading wise these boxes highlight very neatly areas of consolidation, conjestion, accumulation or distribution, whatever you wanna call it. They are solid launchpads for trade entry. How you trade them is down to you. FH has given some ideas....
Thanks, Daz. This is not the first detailed message you've left recently. You've proven that not only have you read the thread, but that you've probably read it more than once and you took notes along the way. You've attacked this thread and this system in a very studious and methodical manner, and the outcome is that you are now banking some of the safest pips in your Forex career.

If everyone did exactly the same as you we'd have many fewer noob posts (which I basically just ignore, anyway) and misunderstandings around here. Respect.

By the way, what have you done with Sue? Haven't seen her around this week.
To improve is to change. To perfect, is to change often.
  • #2,466
  • May 4, 2012 7:57am May 4, 2012 7:57am
Quoting forexhard
By the way, what have you done with Sue? Haven't seen her around this week.
Well thanks I'm flattered.

I see it quite simply. The box is a pressure point that must break one way or the other, sometimes both lol. With the correct trade management this can be put to good use. That's what the new guys need to test for.

With regard to Sue, between us it looks like we scared her off

Daz.
Keep smiling
  • #2,467
  • May 4, 2012 7:39pm May 4, 2012 7:39pm
Quoting Misterdaz
....I see it quite simply. The box is a pressure point that must break one way or the other, sometimes both....
You're exactly right, and it really is that simple. Nothing more is needed beyond this point except proper money management.

I've basically spent the last 10 months in here trying to stress this simple and singular point that can be summed up in less than 20 words. It's a great feeling to witness the "a-ha" moment in you guys. It's what makes it all worthwhile for me, even after the thread winds down.
To improve is to change. To perfect, is to change often.
  • #2,468
  • May 4, 2012 8:18pm May 4, 2012 8:18pm
Quoting Misterdaz
Hopeful trade, I certainly hope you are not when you're trading lol.

If you have read the thread then you have obviously missed this post

http://www.forexfactory.com/showthread.php?p=4963178#post4963178

I found it very useful "for me". Trading wise these boxes highlight very neatly areas of consolidation, conjestion, accumulation or distribution, whatever you wanna call it. They are solid launchpads for trade entry. How you trade them is down to you. FH has given some ideas.

Personally I tested various combinations and ideas...

I found it very useful "for me". Trading wise these boxes highlight very neatly areas of consolidation, conjestion, accumulation or distribution, whatever you wanna call it. They are solid launchpads for trade entry. How you trade them is down to you. FH has given some ideas,,,,,,,,,,,,,,

.that already answer what on my thought

thx
regards
suma
  • #2,469
  • May 4, 2012 10:07pm May 4, 2012 10:07pm
This past week had the average number of CZ's, but with all the news and NFP coming out, price action stayed sideways all week long. I have a CZ from Wednesday on G/U that's still open. It got within 5p of my TP today, and I was tempted to close it out early, but I decided to let it run. It'll be interesting to see what happens on Sunday's gap. I'll provide my usual post mortem once the set is closed.

On a personal note, the last few months have put me so far ahead in pips that I could have 10 CZ's in a row with 4 full reversals each (aka, my personal worst case scenario) and I'd still be winning. So in essence, so long as I maintain my standard MM (and why wouldn't I?) I am basically bulletproof for the rest of the year. It's a great feeling to have. I hope the rest of you can join me asap.
To improve is to change. To perfect, is to change often.
  • #2,470
  • May 8, 2012 4:36am May 8, 2012 4:36am
This week is off to a great start. 45 very easy pips.
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To improve is to change. To perfect, is to change often.
  • #2,471
  • Edited 9:43am May 8, 2012 9:42am | Edited 9:43am
I was in almost exactly the same trade, I think when you exited was when price suddenly pulled back from my TP level, I see too much support there so I eventually exited a few pips short of my target. Take a bit of care next time will you! LOL

I did not trade on NFP carrying 2 losing trades each on GU and EU forward to Monday when the 3rd trades on each off new boxes went to target and recovered my losses plus gave me my original $ target. This month so far up 190 pips and waiting for my EU from today to go to target for 40+ more.

I love this system!!
  • #2,472
  • May 8, 2012 2:02pm May 8, 2012 2:02pm
I've been through the entire thread and have not found concrete answers to the following quick questions.

1. As I understand it the SL is on the other side of the breakout box?
2. What is the TP? Do you just go for a 1:2 ratio, to make up for losses.
3. I see a lot of charts where there is a 2 pip, or an odd amount of gain or a BE. This makes it appear that a lot of the wins and BE stops are discrectionary. What do you look for to decide to set your SL to BE or to close a trade at a small profit?
  • #2,473
  • May 8, 2012 2:32pm May 8, 2012 2:32pm
Quoting KumoDragon
I've been through the entire thread and have not found concrete answers to the following quick questions.

1. As I understand it the SL is on the other side of the breakout box?
2. What is the TP? Do you just go for a 1:2 ratio, to make up for losses.
3. I see a lot of charts where there is a 2 pip, or an odd amount of gain or a BE. This makes it appear that a lot of the wins and BE stops are discrectionary. What do you look for to decide to set your SL to BE or to close a trade at a small profit?
That's because there are no concrete answers to these questions. Which I assure you is quite intentional on my part.

You are suggesting that a single set of rules be carved in stone, and then demand that everyone must follow them without question. I realize this is how 99% of the other systems here at FF do it. And I also realize this is why those other threads die off so quickly. Because they assume that 1000 traders can be forced to trade exactly the same way, which is an absolutely ridiculous assumption.

I teach what I feel is the most important part of a trade: When to enter the market, and when to stay out. The rest is up to you and your own appetite of Risk vs. Reward.

You should try reading the 1st post again. Maybe this time the message will sink in.
To improve is to change. To perfect, is to change often.
  • #2,474
  • May 8, 2012 4:35pm May 8, 2012 4:35pm
Quoting forexhard
That's because there are no concrete answers to these questions. Which I assure you is quite intentional on my part.

You are suggesting that a single set of rules be carved in stone, and then demand that everyone must follow them without question. I realize this is how 99% of the other systems here at FF do it. And I also realize this is why those other threads die off so quickly. Because they assume that 1000 traders can be forced to trade exactly the same way, which is an absolutely ridiculous assumption.

I teach what I feel is the most important...
I read the first post several times already, in between finishing the entirty of this thread and going back and forth looking for answers.

I'm not looking for a, "carved in stone," rule. I know from experience the markets don't work like that, and that there is no magical formula.

However leaving out what how you decide to take profit or set to BE or just get out... wether that is 1:1 2:1 or desrectionary based on the situation can a have big bearing on how sucessful one is, as with box trading there are always situation where if you go BE too early you get stopped out before profit, or if you go to too late you miss cutting a loss.

A simple straight forward answer is all I asked for, not a rule set that is supposedly going to be holy grail.

I'm asking because I've seen pleny of posts where you or another box trader seemed to hold on for the entirty of a move, all the way until a reversal, for max possible pips. Which leads me to believe either you are some of the others hear are cherry picking and not posting actual trade.

(not trying to be argumentative, but I've box traded before. Yes box breakouts are great, but deciding how long to hold on and when to set to BE or take small profit, is the tricky part...the box is the easy part)...and this is the reason I read your thread, trying to find something that would make the hard part of box trading a little easier.

The basic question is are you using a tool, indicator, or just discretion, to decide to stay in/ lock in small profit/lock in BE? Because I see a lot of situations that look good in hindsite, but in reality most people would be stopped at BE or would have taken an early profit before a larger move.

How do you approach that situation? I'm not saying I or anyone else would make the same choices, but maybe some insite into your thought process would help us in the right direction.
  • #2,475
  • May 8, 2012 5:18pm May 8, 2012 5:18pm
Quoting KumoDragon
....Which leads me to believe either you are some of the others hear are cherry picking and not posting actual trade....
You just accused me (and others here) of being dishonest. Why then should I waste my time answering your other points, if you've already stated that you don't trust me?

Stairsteps has about 1000 regular viewers (as evidenced by the 40,000 hits per month we receive) and about 20 regular posters at any given time. So I know without a doubt that this thread is helping to change lives. The many private emails I get also proves this point. I therefore have nothing to explain, and nothing to apologize for. And people who accuse me of being dishonest get banned.
To improve is to change. To perfect, is to change often.
  • #2,476
  • May 8, 2012 6:58pm May 8, 2012 6:58pm
Kumo, here is another pic of that last trade. I got out at the arrow with 45p, and I posted a pic of it as it was happening. At that time my indi read "49p". In this pic here it reads "50p". This pic also has many more bars showing. Larry K even commented on how I got out before the retrace that happened just a few bars after I closed out that trade. This is proof that I am not "cherry picking." Cherry picking is done AFTER the fact, not before or during. You could maybe accuse me of cherry picking (or lying, take your pick, it means the same thing) if this most recent pic was the only one I had posted today. But it's not.

This exact same scenario has been played out several times before today in earlier parts of the thread. Somebody doesn't "get" my methodology, so instead of working harder to understand, they say nasty things hoping that I will give them what they want like giving in to a spoiled child. Sorry fellas, doesn't work with me. Never has, never will.

Except maybe this one time. Kumo, you really want to know my deep dark secret of how I can make so many good choices when I trade SSBO? OK, here it is, so listen close: I've got 10,000 more hours of screen time than you do. And I've made a written diary of all my trades for the last 3 years, and I keep extensive notes besides all that. I literally dream about trading. I treat it all like it's really, really important to me, and in return I have this amazing gift of picking out winners and mitigating losers. So there you have it finally, forexhard's ultimate trading secret that nobody else has. The elusive Holy Grail, as it were.

I can only point the way. Generating the same passion as I have for trading is up to you guys. But don't expect to have my results without it, and stop being jealous and demanding when you don't.
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To improve is to change. To perfect, is to change often.
  • #2,477
  • May 8, 2012 9:58pm May 8, 2012 9:58pm
Quoting forexhard
Kumo, here is another pic of that last trade. I got out at the arrow with 45p, and I posted a pic of it as it was happening. At that time my indi read "49p". In this pic here it reads "50p". This pic also has many more bars showing. Larry K even commented on how I got out before the retrace that happened just a few bars after I closed out that trade. This is proof that I am not "cherry picking." Cherry picking is done AFTER the fact, not before or during. You could maybe accuse me of cherry picking (or lying, take your pick, it means the same...
yes i understand forexhard

You have given a lot in this thread
thank you

as far as I understand it for sl and exit or take profit etc
It depends on compound chart ,,etc ,,, and feel the market and feel come from personal experience and personal practise

but first we must understand the basic


like the example chart below
for sl = 1 sl = 2 sl = 3
and exit = 1 = exit 2 # 3#4 #5 #6

====but all that no write or carved in stone,==

depending on each individual experience
and what comfortable for us

Is it true like that ? forexhard,,

regards
suma
Attached Images
  • #2,478
  • May 9, 2012 3:59am May 9, 2012 3:59am
Its like the man says:

You read the thread, hopefully you understand.
Next is the hard part, drawing the boxes going back 6 months or more, seeing what happens on the breakouts, how often they fail, which size box is the most reliable, etc etc.
Go do your homework, I did and I am benefiting greatly thereby.
You also have to overcome the guy in your head driven by fear and greed.
Next learn to be patient, wait for the potential good setups then trade with confidence your own written down strategy for your trading.
Plan the trade, trade the plan.

Larry
  • #2,479
  • May 9, 2012 8:36am May 9, 2012 8:36am
Hi all,

I was following 4 pairs (E/U, G/U,A/U and E/J).

Realized that since i am still learning this particular system, i was getting too distracted by all those pairs.

So, i am focused only on E/U now.

Just traded this CZ:

Ty FH!
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  • #2,480
  • May 9, 2012 1:38pm May 9, 2012 1:38pm
Quoting LarryK
Its like the man says:

You read the thread, hopefully you understand.
Next is the hard part, drawing the boxes going back 6 months or more, seeing what happens on the breakouts, how often they fail, which size box is the most reliable, etc etc.
Go do your homework, I did and I am benefiting greatly thereby.
You also have to overcome the guy in your head driven by fear and greed.
Next learn to be patient, wait for the potential good setups then trade with confidence your own written down strategy for your trading.
Plan the trade, trade the plan....
Part of my job in here is keeping away the troublemakers so that the rest of you guys don't have to worry about who to trust. It makes me unpopular some times, but I really couldn't care less.

Kumo won't hear a thing you're saying, Larry. Before banning Kumo I went into his posting history and read his last 50+ posts to get a good idea of his personality. Just to make sure I wasn't misreading his intentions. I do this with every guy I have banned. They want to think I only ban out of ego or spite, but it's simply not the case. I do plenty of research first. Anyway, this guy Kumo is a classic troll. I couldn't find more than a couple of his most recent posts that weren't trying to stir the pot. And in some posts he goes on about how much experience he has, and then in another he asks how do you locate an FX br0ker that offers Gold and Silver. Really? That's like asking for help finding a br0ker that offers MT4. This is how an experienced trader talks? I mean, WTF? It's a classic scenario: If those guys spent the same time studying that they do complaining and trolling, they would actually have a working system that pays them back massive dividends. And that's giving them the benefit of the doubt that they're not just br0ker moles in the first place (which most are).

To give you guys a taste of what goes on behind the scenes, about 4 months ago I became suspicious of some of the posts in here, and with Twee's help we discovered that 1 guy was posting in here under 4 different names! And that's just one example. Don't get me started. The bottom line is that there are dozens of FF members that don't trade at all, and the only reason they join is to try to derail as many systems as they can. And they tend to over-react when someone stands up to them.
To improve is to change. To perfect, is to change often.
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