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4H Box Breakout

  • #5,161
  • Mar 9, 2013 9:03am Mar 9, 2013 9:03am
Quoting steve d
Hello again all,

Here are the figures for the past week starting 4 march to Fri 8 march 2013

EUR/JPY BUY PROFIT 325
SELL LOSS 49

US/JPY BUY PROFIT 229
SELL LOSS 15

GB/JPY BUY LOSS 22
SELL NO TRADE

TOTAL PROFIT-----------------+++++468 *** BRILLIANT...!!!

The stop/losses added up to 304...so be careful...catch you on Monday...1 pm Australian time

Please feel free to ask questions on this thread...thanks


best to show a chart example with the high low of 4 hr candle marked and your trade entries.

you say its jap time, but what time is that in london u.k. ?
  • #5,162
  • Mar 9, 2013 10:03am Mar 9, 2013 10:03am
I downloaded from page 1 the A inductor and it does all of the work for you harve been trading for 8 y and this is the best i have every done. put the ind on 4hr chart
  • #5,163
  • Edited 2:18pm Mar 9, 2013 2:02pm | Edited 2:18pm
Quoting whatfx
best to show a chart example with the high low of 4 hr candle marked and your trade entries.

you say its jap time, but what time is that in london u.k. ?
Hes said that hes following the setup from post 1. You take a broker that has the weeks candle start at midnight gmt +2 (5pm EST) in other words no sunday candle for instance fxpro, fxdd and take that first 4hr candle. So if you have a demo with one of those brokers and choose to show period separators the line will go through the candle you need to be concerned with.
  • #5,164
  • Edited 1:36am Mar 10, 2013 1:25am | Edited 1:36am
Hi Guys...thanks for the posts and the kind words,

The time is Australian (Sydney) time and this is the first session in the world..

I don't use the 4 hour candle as we all have 4 hour candles that open and close at different times, confusion...!!!

Monday 9 am in Oz (Sydney) is the same as 10 pm Sunday in UK..at the moment, clocks will be changing soon , so more confusion,

I shall post the times as soon as the 4 th candle closes,,

cheers, Steve
  • #5,165
  • Mar 10, 2013 1:29am Mar 10, 2013 1:29am
Quoting thestriver
Manual Backtest Result: (Demo)
Pair: E/J
Initial Deposit: USD 60
Lots: 0.01 x 3 (3 orders for 3 TP levels)
Jan, 13: +1980 pips
Feb, 13: +2020 pips
Grand Total: 4000 pips (approx.)
Net Profit: USD 400
Gain %: 666.67
Equity: USD 460
Will go live from next month and keep posting update once each month
Happy Trading...
Thanks for your efforts, great research Sir, look forward to your future posts, be careful with your cash though...as always..!!!
  • #5,166
  • Mar 10, 2013 1:35am Mar 10, 2013 1:35am
Quoting lastingwell
Bit confused as to how you lost only 15 pips on the US/JPY sell trade when the stop loss was 37? also GB/JPY with a loss of 22 and stop loss of 59.
15851084USD/JPY1,0003/5/13 2:22 PM93.140
3/6/13 2:01 AM 93.297

Hi Lastingwell......thanks for your question which is welcomed, the data above is lifted from my account,...the stop is a trailing dynamic stop/loss, the price went in our favour by 22 pips then retraced by 37 to be stopped out....these things happen when I was away from the action, so anyones' guess is as good as mine...!!


hope this helps..
  • #5,167
  • Mar 10, 2013 10:56am Mar 10, 2013 10:56am
Quoting steve d
15851084 USD/JPY 1,000 3/5/13 2:22 PM 93.140
3/6/13 2:01 AM 93.297

Hi Lastingwell......thanks for your question which is welcomed, the data above is lifted from my account,...the stop is a trailing dynamic stop/loss, the price went in our favour by 22 pips then retraced by 37 to be stopped out....these things happen when I was away from the action, so anyones' guess is as good as mine...!!


hope this helps..
Hi Steve,

My question is after how many pips you prefer to trail the SL.
  • #5,168
  • Mar 10, 2013 3:44pm Mar 10, 2013 3:44pm
Hi Pundit, thanks for the question about stop/loss,

from my understanding of the original method, we should put on a dynamic trailing stop/loss included in the Entry Order,

this will ensure our profits are locked in,

I think it works quite well as we cannot be expected to keep adjusting stops every hour of the day, just set and forget,

you could set up on Monday morning and not check it until Friday evening if you set up this way,

hope this helps.

****** Don't forget the other threads, on this website,that have been going for years where you can LEARN TRAINING METHODS..!! ****
  • #5,169
  • Mar 10, 2013 9:12pm Mar 10, 2013 9:12pm
Quoting steve d
Hi Pundit, thanks for the question about stop/loss,

from my understanding of the original method, we should put on a dynamic trailing stop/loss included in the Entry Order,

this will ensure our profits are locked in,

I think it works quite well as we cannot be expected to keep adjusting stops every hour of the day, just set and forget,

you could set up on Monday morning and not check it until Friday evening if you set up this way,

hope this helps.

****** Don't forget the other threads, on this website,that have been going for years where...

Thanks Steve .... waiting for your firgures for this week, hope they match with mine.
  • #5,170
  • Mar 10, 2013 9:23pm Mar 10, 2013 9:23pm
My figures for this week (Only GBPJPY) are :

Buy 143.74 SL - 143.34

Sell 142.94 SL - 143.34

TP will be as per original strategy if hit Box 1 SL will be moved to BE with TP Box2 and If hit Box 2 SL will moved to Box1 and LAST TP is Box3.


Looking for Input from Steve.
  • #5,171
  • Edited 9:45pm Mar 10, 2013 9:34pm | Edited 9:45pm
Hi guys, thanks for all your posts,

Here are the figures from this morning's JPY pairs

GB/JPY Entry Order BUY 143.74
Entry Order SELL 142.94 STOP LOSS 40 (trailing)

EUR/JPY Entry Order BUY 125.21
Entry Order SELL 124.42 STOP LOSS 39 (trailing)

US/JPY Entry Order BUY 96.24
Entry Order SELL95.73 STOP LOSS 31 (trailing)

TOTAL STOP LOSS RISK IS 220 Stop/loss on both buy and sell trades,,,,Demo is the best until you can lose cash...!!!

Please double check my numbers before going ahead...!!!
  • #5,172
  • Mar 11, 2013 3:28am Mar 11, 2013 3:28am
Quoting pundit78
My figures for this week (Only GBPJPY) are :

Buy 143.74 SL - 143.34

Sell 142.94 SL - 143.34

TP will be as per original strategy if hit Box 1 SL will be moved to BE with TP Box2 and If hit Box 2 SL will moved to Box1 and LAST TP is Box3.


Looking for Input from Steve.
Hi pundit,,,with regard to your stop loss....the original plan was exactly as you have stated,,,well done, anyone who wants to keep the stop as Pundit can do so, of course, I have just modified mine as I do this a lot with my other trades,,,,

thanks for your input,, Steve
  • #5,173
  • Mar 11, 2013 3:51am Mar 11, 2013 3:51am
Quoting steve d
Hi pundit,,,with regard to your stop loss....the original plan was exactly as you have stated,,,well done, anyone who wants to keep the stop as Pundit can do so, of course, I have just modified mine as I do this a lot with my other trades,,,,

thanks for your input,, Steve

Hi Steve,

Initial SL is as modified by you but SL will be moved to BE after TP1 hit, this is just to protect the capital.

Thanks
  • #5,174
  • Mar 11, 2013 5:49am Mar 11, 2013 5:49am
I can't help thinking that all the Stops are a bit too short this week, I am tempted to expand them a bit,. but will follow the original system and leave them be

What do you think???
  • #5,175
  • Mar 11, 2013 4:29pm Mar 11, 2013 4:29pm
STEVE would you please post the link to your trailing stop ea. i am using swiss army EA now which i have
used for several yrs but i would like to see yours

also does anyone have a script to enter pending orders sure would help this
OLD trader thanks and have a good day.....
  • #5,176
  • Mar 11, 2013 8:00pm Mar 11, 2013 8:00pm
Hi Texan. If I could , I would,

my account gives me the option of a trailing stop when I put in my order,

sorry I can't help, can any one else help out Texan,???
  • #5,177
  • Mar 11, 2013 9:09pm Mar 11, 2013 9:09pm
Hi Texan,

I use Steve Hopwood MPTM for trailing - works great.
Attached are scripts for buy and sell pending orders I use.

Cheers
Attached File(s)
File Type: mq4 Sell Invictus mod.mq4   5 KB | 736 downloads
File Type: mq4 Buy Invictus mod.mq4   5 KB | 889 downloads
  • #5,178
  • Mar 12, 2013 7:51am Mar 12, 2013 7:51am
Quoting steve d
Hi Pundit, thanks for the question about stop/loss,

from my understanding of the original method, we should put on a dynamic trailing stop/loss included in the Entry Order,

this will ensure our profits are locked in,

I think it works quite well as we cannot be expected to keep adjusting stops every hour of the day, just set and forget,

you could set up on Monday morning and not check it until Friday evening if you set up this way,

hope this helps.

****** Don't forget the other threads, on this website,that have been going for years...
it would be a lot clearer if you post charts to show exactly which 4 hr candle you are taking into account and you entry and exit levels and why. this would save a lot of people a lot of confusion.
  • #5,179
  • Mar 12, 2013 7:58am Mar 12, 2013 7:58am
Hi Steve,

I have 1 question ....Suppose if our SL of Sell order gets hit and also Buy order gets executed, can we place Sell order again in the same week or shall we wait for next week for the new order for any particular pair.
  • #5,180
  • Mar 12, 2013 10:50am Mar 12, 2013 10:50am
Thanks so much for the pending order scripts.I have one more ? I use the inducators posted on page one and the work great on all JPY crosses,
but i dont understand why they dont work on other crosses like GBP USD.
maybe some one could answer that ? thanks to the thread starter for this GREAT system................Texan
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