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4H Box Breakout

  • #5,181
  • Mar 12, 2013 11:03am Mar 12, 2013 11:03am
i use this ea to manage my order ...tto close part of my trade and move sl to break evenin order for it to work you must blank out the trade comment. try it ......it works great
Attached File(s)
File Type: ex4 Rokz Trade Manager v1.0.ex4   10 KB | 650 downloads
  • #5,182
  • Edited 4:19pm Mar 12, 2013 4:07pm | Edited 4:19pm
Hi PUNDIT78 ----I shall try and post the chart next time, I will run through it again though,

The strategy is ----look at the FIRST 4 hour CANDLES of a Jpy pair on Monday morning Australian time, (9 am, 10am 11am 12midday)

note the high and add 20

note the low and subtract 20

Subtract the low from the high to use as a Trailing Dynamic Stop loss..ie if high was 1.5480 and low was 1.5420..the stop/loss would be 60.

Create an entry order BUY for the high with the 20 added (demo account)

Create an entry order SELL for the high with 20 subtracted ( demo account)

ENSURE YOU INCLUDE YOUR STOP/LOSS

You can do it with more than one JPY pair............

if you set up as the original post on page 1, instead of a 4 hour candle, use 4 one hour candles, keep it simple, start at 9 am Oz(sydney)

Message to others, feel free to post your charts here,

Cheers, S
  • #5,183
  • Mar 12, 2013 4:09pm Mar 12, 2013 4:09pm
Quoting pundit78
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.
The system says to set up on Monday morning and that is it, if your stop gets hit, you are out......!!!

Of course do whatever you want, be careful with your cash though,

cheers Steve
  • #5,184
  • Mar 12, 2013 4:19pm Mar 12, 2013 4:19pm
Hi Texan,

Thanks for the EA; will test it.

Cheers
  • #5,185
  • Mar 13, 2013 2:56am Mar 13, 2013 2:56am
Quoting steve d
The system says to set up on Monday morning and that is it, if your stop gets hit, you are out......!!!

Of course do whatever you want, be careful with your cash though,

cheers Steve

Thanks Steve,

I got it, for a particular week, either we hit SL or we hit Target, no more trade for that week.
  • #5,186
  • Mar 13, 2013 4:17pm Mar 13, 2013 4:17pm
THE WAY I SEE IT>...........I HOPE THIS WILL HELP EVERONE..i DONT THINK IT MATTEWRS WHERE YOU LIVE the A ind on page one will work for you. i put it on
my chards sunday but it was already monday for som of you. still we are using the first 4hr candle. please if this is not correct me.
i have posted eariler that i us e a trade manager. i thke the first 20 and lock in 1 more and move sl to B E.i am going to post my buy/sell prices
i traded all 7 jpy crosses i am sure i will make some mistakes on this post .
AUD JPY ENTRY HIGH BUY 98.58 moved up 98 pips ....stop. out at entry price made 21 pips




eNTRY LOW SEII 97.84 no sell
chf/jpy entry buy 101.354 moved up 63 pips and closed for 21 pips and moved to be and stoped out


no sell sell 100.56
CAD JPY buy high 93.80 moved up 42 pips and closed for 21 pips and stoped out at be
eur/jpy buy high 125.36 moved up 66 pips and closed for my 21 pips and stoped out at be
eurojpy sell low 124.43 excuted and moved down 26 pips and closed for 21 pip profit and closed at be






gbp jpy buy high 143.90 moved up 32 pips and closed 21 pips profit and moved to be
sell low 142.93moved 88 pips and you know now what happened...made 21 pips and stoped out at be
out of room nzdd jpu and usd jpy also worked.......please let me know what is wrong with this
  • #5,187
  • Mar 13, 2013 4:19pm Mar 13, 2013 4:19pm
Hi Texan,

Here is the MPTM EA and the manual how to use it.

I find the Multi purpose trade manager (MPTM) fantastic.
It will give you more options than the Swiss Army EA.
I have used in past both. Now I use only the MPTM.

Cheers
Attached File(s)
File Type: pdf Multi purpose trade manager instructions.pdf   112 KB | 1,490 downloads
File Type: mq4 Multi purpose trade manager.mq4   102 KB | 815 downloads
  • #5,188
  • Mar 13, 2013 5:24pm Mar 13, 2013 5:24pm
Quoting steve d
Hi PUNDIT78 ----I shall try and post the chart next time, I will run through it again though,

The strategy is ----look at the FIRST 4 hour CANDLES of a Jpy pair on Monday morning Australian time, (9 am, 10am 11am 12midday)

note the high and add 20

note the low and subtract 20

Subtract the low from the high to use as a Trailing Dynamic Stop loss..ie if high was 1.5480 and low was 1.5420..the stop/loss would be 60.

Create an entry order BUY for the high with the 20 added (demo account)

Create an entry order SELL for the high with 20...

just for your info. i did test this method a couple of years ago for a few weeks, on eurusd. at the time my knowledge was limited (still is !) on forex.

i achieved mixed results. however, if i had a good money management strategy to go with this method i probably could achieved good results, in my opinion.

now that you have bought this method back to life again, i will give it another go with my excellent mm skills to keep it steady.

hopefully i can get it to profit or worse use it positvely alongside my methods.


what time are you using as in u.k. time for the opening time weekly candle ?

my weekly candle starts at 10pm london time on sunday. which is 12am on alpari u.k. mt4.


good traDING.
  • #5,189
  • Mar 13, 2013 6:48pm Mar 13, 2013 6:48pm
PULTO........................... thanks FOR the downloads. i will have to study up some on it.........please read my last post and tell me if it is correct. about the ind on page one.....
  • #5,190
  • Mar 14, 2013 6:08am Mar 14, 2013 6:08am
Hello all, i thought I would post the chart from last week...UK time 22:00 Sun (9am Sydney,Australia time)

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-forex-capital-markets.png Size: 118 KB


Hope this helps,
  • #5,191
  • Mar 16, 2013 10:17pm Mar 16, 2013 10:17pm
Hello everyone, here is the summary of my trades on the 4hr JPY breakout method

GB/JPY BUY -2
SELL -30

EUR/JPY BUY + 42
SELL -37

US/JPY BUY -5
SELL -23

OVERALL WE HAD A LOSS OF 55 PIPS,,,BETTER LUCK NEXT WEEK

If any one has any different results, please post them here, thanks,

I use a trailing dynamic stop, the original system says to move the stop up at each profit target,

Cheers, Steve
  • #5,192
  • Mar 17, 2013 9:20pm Mar 17, 2013 9:20pm
Here is a chart of the 4 hours on gb/jpy this morning
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h1-forex-capital-markets-2.png Size: 31 KB
  • #5,193
  • Mar 17, 2013 9:36pm Mar 17, 2013 9:36pm
This week's highs and lows are:

Gb/jpy buy at 143.79
gb/jpy sell at 142.65 stop loss at 74 pips

us/jpy buy at 95.16
us/jpy sell at 94.36 stop loss at 40 pips

eur/jpy buy at 122.89
eur/jpy sell at 121 .87 stop loss at 62 pips

total risk is 352....all the stops added together

feel free to post away cheers, steve
  • #5,194
  • Mar 18, 2013 10:00am Mar 18, 2013 10:00am
Quoting steve d
This week's highs and lows are:

Gb/jpy buy at 143.79
gb/jpy sell at 142.65 stop loss at 74 pips

us/jpy buy at 95.16
us/jpy sell at 94.36 stop loss at 40 pips

eur/jpy buy at 122.89
eur/jpy sell at 121 .87 stop loss at 62 pips

total risk is 352....all the stops added together

feel free to post away cheers, steve
Hello Steve,
I am not sure about your entry point for sell in gbp/jpy at 142.65??? Why??
Low was at 142.05 so our entry should be at 141.85!!!
Pl. clarify.
Thanks. GL.
Attached Image (click to enlarge)
Click to Enlarge Name: pictures.gif Size: 25 KB
  • #5,195
  • Mar 18, 2013 5:58pm Mar 18, 2013 5:58pm
Hi and thanks for the question, The start of the 4 hours is at 22:00, UK time as pictured on my chart,

I use 4 seperate one hour candles because the 4 hour candles start at different times,

yours may have started at 8am Sydney time

The method calls for the first 4 hours of the Ozzie session,


The low on Mon morning was the 4 th and last candle......142.85

Have another look...my highlighted area takes in half of the previous candle....

hope this helps, Cheers, Steve
  • #5,196
  • Edited 6:20pm Mar 18, 2013 6:05pm | Edited 6:20pm
Hello again, hope you don't mind me posting the rules from Page 1..there is confusion about the time zones and the start of the 4 hour candles from your brokers,

[[[[[quote]]]]
Ace284
Looking for confluence
Member Since Feb 2009
452 Posts
I've seen breakout strategies for daily and weekly. I've never seen one like the one i'm about to present.

DRAW a box connecting the high of the first 4hr candle(00:00) of the week with the low along with a buffer of 20 pips on each side.
The week starts at the open of the Australian session.
If I had a penny for every time someone has asked which candle it is..i wouldn't need to trade forex to make money. For the next person who is going to ask, follow these instructions.
[[[[[quote]]]]]]]

Have a good look at the time zones as they will be changing soon, Spring/Autumn

thanks
  • #5,197
  • Mar 18, 2013 6:38pm Mar 18, 2013 6:38pm
[quote=steve d;6525108]Hello again, hope you don't mind me posting the rules from Page 1..there is confusion about the time zones and the start of the 4 hour candles from your brokers,

[[[[
Quote
]]]
Ace284
Looking for confluence
Member Since Feb 2009
452 Posts
I've seen breakout strategies for daily and weekly. I've never seen one like the one i'm about to present.

DRAW a box connecting the high of the first 4hr candle(00:00) of the week with the low along with a buffer of 20 pips on each side.
The week starts at the open of the Australian session.
If I...

Thank you Steve for your response. But when I insert that Indi of 1 box a and b , it automatically tells me where to go long , n short n TP 1, 2 etc on both sides! Its wonderful! No calculation atall!!!
  • #5,198
  • Mar 18, 2013 7:49pm Mar 18, 2013 7:49pm
Hello Steve,

A few days follow the forum and saw that has a great period in which it was practically inactive from 2009 until 2013, when he began to have movement. I noticed that you are one of the most active and most helpful forum or other colleagues. I wonder if you even used this strategy in other pairs in the time of England and the United States.

Another question. You have a backtest this system for years prior?

Thank you and success
Luciano
  • #5,199
  • Mar 19, 2013 9:23pm Mar 19, 2013 9:23pm
[quote=behman8850;6525143]
Quoting steve d
Hello again, hope you don't mind me posting the rules from Page 1..there is confusion about the time zones and the start of the 4 hour candles from your brokers,

[[[[

Thank you Steve for your response. But when I insert that Indi of 1 box a and b , it automatically tells me where to go long , n short n TP 1, 2 etc on both sides! Its wonderful! No calculation atall!!!
Hi BEHMAN, If you used one hour candles you may match my figures......You can use your figures if you like, remember that this is only a speculative method of trading...no attention to the required trading skills or tools, real traders use real methods...THIS ISN'T ONE OF THEM...!!

There are many methods of trading and we need to learn properly from approved threads and websites, books, etc.

This is really a bit of fun, some weeks you win, some weeks you lose...!!!

Cheers
  • #5,200
  • Mar 19, 2013 9:26pm Mar 19, 2013 9:26pm
Quoting lumiche
Hello Steve,

A few days follow the forum and saw that has a great period in which it was practically inactive from 2009 until 2013, when he began to have movement. I noticed that you are one of the most active and most helpful forum or other colleagues. I wonder if you even used this strategy in other pairs in the time of England and the United States.

Another question. You have a backtest this system for years prior?

Thank you and success
Luciano
Thank you Lumiche, it is very nice to get a positive message, I have informally back tested , this method provides patcyh and inconsistent results, I think this is why the thread stopped for a few years....

..... please look at the previous thread and seek a learning path outside of this method....keep it as a bit of fun, but no more...!!!

Cheers, S
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