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4H Box Breakout

  • #5,061
  • Jan 27, 2013 7:34pm Jan 27, 2013 7:34pm
Hiagain, thanks for the reply , here is my attempt at getting the trade set up right,

TIME 12 MIDDAY OZ TIME
US/JAP EOB-91.25 Trailing stop at 67
US/JAP EOS-90.58

EUR/JAP EOB-122.81 Trailing stop at 86
EUR/JAP EOS-121.95

GB/JAP EOB-143.8 Trailing stop at 67
GB/JAP EOS-143.13

Please feel free to comment on my perception, we all can live and learn...!!!

Please post your own trade set ups too on these Jap pairs.

Thanks Steve
  • #5,062
  • Jan 28, 2013 2:55pm Jan 28, 2013 2:55pm
Hi, now,after 20 hours, GB/JAP is doing well...up62 already

The other 2 are down 17 or so,

cheers Guys, keep in touch, Steve
  • #5,063
  • Jan 28, 2013 9:11pm Jan 28, 2013 9:11pm
Quoting steve d
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
Very well played
  • #5,064
  • Jan 30, 2013 3:29pm Jan 30, 2013 3:29pm
Thank you Sir..!!!

I have noted that there are positive gains on the other pairs after the pair from the previous post closed at BE...!!!
  • #5,065
  • Jan 30, 2013 3:41pm Jan 30, 2013 3:41pm
Hi Steve,
please tell me what do you mean with EOB or EOS?
Thanks

Quoting steve d
Hiagain, thanks for the reply , here is my attempt at getting the trade set up right,

TIME 12 MIDDAY OZ TIME
US/JAP EOB-91.25 Trailing stop at 67
US/JAP EOS-90.58

EUR/JAP EOB-122.81 Trailing stop at 86
EUR/JAP EOS-121.95

GB/JAP EOB-143.8 Trailing stop at 67
GB/JAP EOS-143.13

Please feel free to comment on my perception, we all can live and learn...!!!

Please post your own trade set ups too on these Jap pairs.

Thanks Steve
  • #5,066
  • Edited 4:02am Jan 31, 2013 3:44am | Edited 4:02am
"""please tell me what do you mean with EOB or EOS?"""

....no worries

EOB stands for Entry Order Buy

EOS Stands for Entry Order Sell

2 entry orders are placed when the first candlestick closes, one for Buy and one for Sell,

hope this helps, any other questions can be asked, please feel free to do so and we hope someone will contribute,

the time is 10 am UK time and GB/US is long +22..........EUR/JAP is long +55...........US/JAP is long -27,

a couple of close outs though, so let's watch and wait

cheers, steve
  • #5,067
  • Jan 31, 2013 5:28am Jan 31, 2013 5:28am
Thanks a lot Steve.
Please confirm that you build your box with first 4 hours of the Asian Session. Right?
Thanks


Quoting steve d
"""please tell me what do you mean with EOB or EOS?"""

....no worries

EOB stands for Entry Order Buy

EOS Stands for Entry Order Sell

2 entry orders are placed when the first candlestick closes, one for Buy and one for Sell,

hope this helps, any other questions can be asked, please feel free to do so and we hope someone will contribute,

the time is 10 am UK time and GB/US is long +22..........EUR/JAP is long +55...........US/JAP is long -27,

a couple of close outs though, so let's watch and wait

cheers, steve
  • #5,068
  • Jan 31, 2013 1:29pm Jan 31, 2013 1:29pm
Hi Andrew, thanks for your question,

I have "built my box" from the closing of the first 4 hour candlestick. After adding 20 pips to the high/low to avoid entering a trade too early.

Hope that helps,

****Message to all ******Please feel free to add to this answer or ask another question,

PRICE UPDATE------GB/JP +110------EUR/JP +120-----US/JP +10 TIMED AT 7:30 UK TIME

cheers, Steve
  • #5,069
  • Jan 31, 2013 9:13pm Jan 31, 2013 9:13pm
i am download forum 4H Weekly Box Breakout.mq4 ea


but some coding missing

see


UseTrailingStop=true; TrailingStop=125; TrailingStopStep=10; MoveStopOnce=true;


but no have option i am download ea


TrailingStopStep=10



please add me this option and ea names in: 4H Weekly Box Breakout ECN.mq4


but our forum only 4H Weekly Box Breakout.mq4



please upload inculde TrailingStopStep=10



thank you
Attached File(s)
File Type: mq4 4H Weekly Box Breakout.mq4   14 KB | 1,202 downloads
  • #5,070
  • Feb 1, 2013 3:01am Feb 1, 2013 3:01am
Hi Guys, just thought I would up date you on the jap 4 hour breakout method for this week........

Timed at 8 pm Australia time...

GB/JAP +218

EUR/JAP +261

US/JAP +86

Please remember that we were closed out on 2 trades so down 134...!!! The trades as above make up for them though.

I think my figures are right, I had to spend a couple of days travelling so I missed out on the closures, please forgive..!!

Extremely good for a simple system that is so easy to set up...!!!

Well done to all those who have helped this thread, let's keep up the great work next week,

post away Guys...!!!!

Thanks, Steve
  • #5,071
  • Feb 1, 2013 4:54am Feb 1, 2013 4:54am
Thanks Steve,
just another question. What this your first 4 hour candlestick? maybe first 4hours you mean the first 2 hours in Sydney session and then 2 hours in Tokyo session? or first 4 hours in tokyo session? It's a bit different.
Thanks


Quoting steve d
Hi Andrew, thanks for your question,

I have "built my box" from the closing of the first 4 hour candlestick. After adding 20 pips to the high/low to avoid entering a trade too early.

Hope that helps,

****Message to all ******Please feel free to add to this answer or ask another question,

PRICE UPDATE------GB/JP +110------EUR/JP +120-----US/JP +10 TIMED AT 7:30 UK TIME

cheers, Steve
  • #5,072
  • Edited Feb 2, 2013 3:39am Feb 1, 2013 2:03pm | Edited Feb 2, 2013 3:39am
The method states that we should use the first 4 hour candle from the Australian session,

This starts at 8 am AEDT (oz time in Sydney)

This candle closes at 12 midday AEDT.

I shall take a closer look on Monday and make sure that these times are accurate.

If I monitor it live we should be right..!!

Cheers Steve
  • #5,073
  • Feb 3, 2013 7:15pm Feb 3, 2013 7:15pm
Trying this out for the first time.

Using FXCM MT4

Boxsize 89.2pips

Selling at 145.206

TP1 144.314

About to be trigged into sell 1.14am GMT

Going to take TP1 rather than TP2, as this is first trade using this system
  • #5,074
  • Feb 3, 2013 8:31pm Feb 3, 2013 8:31pm
Thanks, MINIPIP, for your post,

I have observed the FIRST 4 HOUR CANDLE....timed at 9 am to 1 pm OZ time,

The session may open at 8 am, if there is a problem with the 4 hour candle at 9 am, I think we can simply look at the first 4 one hour candles next week,

Here goes,

US/JAP HIGH 92.9 + 20 = EOB 93.1 ..............S/L 45

US/JAP LOW 92.45-20 = EOS 92.25

EUR/JAP HIGH 126.8 +20 = EOB 127................S/L 75

EUR/JAP LOW 125.85 - 20 = EOS 125.85

GB/JAP HIGH 145.85 = 20 = EOB 146.05............S/L 67

GB/JAP LOW 145.18 - 20 = EOS 144.98

Hope all that looks good, feel free to comment, Steve
  • #5,075
  • Feb 4, 2013 5:14am Feb 4, 2013 5:14am
Looks like I messed up on the candle
Thanks for the candle calculations Steve d

Thought I was entering on the first 4H candle for Oz, but not sure what happened

Waited until 1am GMT to correspond to 12pm Sydney time and took the low of 145.406, allowing for 20pip buffer gave me an entry point of 145.206, which trigged at 1.15am GMT

Woke up this morning and saw Steve d's candle calculations

I was clearly running at a loss!

Just exited with loss of 87.6 pips

Allowing for differences between the brokers, my initial calculations were as follows

GB/JPY HIGH 146.098

GB/JPY LOW 145.206

If I had waited for the close of the candle at GMT 4am I would have had a low of 145.182 and would never have been trigged into a sell position as my entry would have been 20 pips below this.

So the moral of the story is, getting the right candle for entry, will have to try again
  • #5,076
  • Feb 4, 2013 2:38pm Feb 4, 2013 2:38pm
Minipips...Ithink you done well to calculate all of the above, I wouldn't worry too much about the exact Oz candlestick...!!!

I am living in Sydney time and the first Candle of the week started at 5 am and closed at 9 am....I read the hi and lo of the 9 am to 1 pm candle,,,as the Oz session starts at 8 am....so we have a dilemma...!!!

U.K. time is GMT and in OZ we have summertime hours, so there is a time anomally as the original posting was in May... the Northern hemisphere clocks gone forward and Southern Hem clocks have gone back...!!!

Next week we could possibly take the hi and lo from the first 4 candles on the 1 hour chart starting at 8 am and closing at 1 pm..

What do you think...????

cheers, Steve
  • #5,077
  • Feb 4, 2013 6:56pm Feb 4, 2013 6:56pm
Hi Guys, almost 24 hours later............

US/JAP BUY......CLOSED -45

US/JAP SELL......OPEN -4

EUR/JAP BUY.....NOT HIT YET

EUR/JAP SELL...OPEN +++131

GB/JAP BUY...CLOSED -67

GB/JAP SELL OPEN -40

A mixed bag, hope it gets better...!!!

cheers Steve
  • #5,078
  • Feb 6, 2013 5:55am Feb 6, 2013 5:55am
Yeah, this was not the week for this strategy, but especially with the jpy hitting a ceiling. Perhaps next week will be more promising.
  • #5,079
  • Feb 6, 2013 2:40pm Feb 6, 2013 2:40pm
Hi Steve,
how was your week? GB/JAP was terrible!
Bye

Quoting steve d
Hi Guys, almost 24 hours later............

US/JAP BUY......CLOSED -45

US/JAP SELL......OPEN -4

EUR/JAP BUY.....NOT HIT YET

EUR/JAP SELL...OPEN +++131

GB/JAP BUY...CLOSED -67

GB/JAP SELL OPEN -40

A mixed bag, hope it gets better...!!!

cheers Steve
  • #5,080
  • Feb 6, 2013 9:00pm Feb 6, 2013 9:00pm
Hi Guys, not too good from my end...

US/JAP CLOSED BUY -47 SELL -4

EUR/JAP CLOSED SELL +74 BUY closed at break even

GB/JAP CLOSED BUY -32 SELL -40

Overall -49

This is a speculative method that has worked previousl, not this week though,

if we can keep dollar losses to a minimum, then it makes it a bit of fun...!!!

For a tried and tested simple method you may need to look at something like 3 ducks trend following,

Cheers guys
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