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4H Box Breakout

  • #5,261
  • Apr 8, 2013 1:49am Apr 8, 2013 1:49am
So we are going for 7 am - 11 am Australian session. which is the first 4 hours of australian session.

As i am using Axitrader which is also Australian broker, i guess my time is following Australian time.
  • #5,262
  • Apr 8, 2013 2:35am Apr 8, 2013 2:35am
Steve,

How do we know whethehr to let the position to Tp2 ? The original contribritor Ace mentioned in the begininning that you have to consider the ATR in daily. If daily ATR has been achieved then probably we should tp out the posiition.

However I have no idea how to interpret it. GBP YEN daily ATR(14) : 2.0801 .. what does this mean ?
  • #5,263
  • Apr 8, 2013 2:49am Apr 8, 2013 2:49am
Aud/jpy triggered BS @ 102.550

Attached Image (click to enlarge)
Click to Enlarge Name: aud_yen.png Size: 23 KB


Eur/jpy triggered BS @ 128.622

Attached Image (click to enlarge)
Click to Enlarge Name: euryen_001.png Size: 24 KB


** Finger crossed ** Stick to the rulez
  • #5,264
  • Apr 8, 2013 6:30am Apr 8, 2013 6:30am
Quoting Jasper Ng
Aud/jpy triggered BS @ 102.550 {image} Eur/jpy triggered BS @ 128.622 {image} ** Finger crossed ** Stick to the rulez
should we add buffer 20 pips ( 128.63 + 20 = 128.83 )
  • #5,265
  • Apr 8, 2013 10:42am Apr 8, 2013 10:42am
There is still a confusion, where opinions are differ...what to do after the stop out....do you enter opposite side? or just wait for next week new signal?
  • #5,266
  • Apr 8, 2013 11:19am Apr 8, 2013 11:19am
yes each pair you can enter 2 trades Buy and sell.. from the history data i looked, usually if you fail in one direction, you can make it back up in opposite direction or you can earn both ways.
  • #5,267
  • Apr 8, 2013 11:26am Apr 8, 2013 11:26am
Thanks...

Are there stats available for this tecnique?...many of the original subs for this forum are not here anymore ...I wonder if this startegy still alive and kicking.....anyone with stats, please post.....
  • #5,268
  • Apr 8, 2013 12:57pm Apr 8, 2013 12:57pm
This link statistics are a bit old and using only a pair. Here we are using 3 pairs. In this link there is also another variation of this esteratégia with better results. A long time ago I did a demo with a similar strategy, but not as effective. There were 4 years of testing and what I noticed is that sometimes they get tied and others gain, but in the end the results are positive and stress free, which is very good.

http://www.forexfactory.com/showthre...84 # post2997584

I think today the strategy used by Steve has been very good. A score based placed therein and at 2 ½ months were more than 10% using 600% of counts, or about 300% to 5% risk. I take a look at the inputs of Steve and compare with mine, but the candles are very similar and close values​​.
  • #5,269
  • Apr 8, 2013 12:58pm Apr 8, 2013 12:58pm
Sorry,

http://www.forexfactory.com/showthre...84#post2997584
  • #5,270
  • Apr 8, 2013 1:48pm Apr 8, 2013 1:48pm
Thanks, here are the strategies that were discusses....can you please let me know which variation is more robust, i e better results?

Based on ACE's 4Hrs Breakout Strategy with Variation 1) Define box range based on 1st 4Hr candle of the week 2) Place bracket stop order 20 pips above and below high and low of the candle range with SL set at the oppose of the range. 3) Profit Targets are set at multiple of range in (1) for GBPJPY aim for 4X and for EURJPY aim for 3X 4) Move SL to BE once 1X TP is reach 5) Close trade @end of the week if target TP / SL not reach 6) Only 2 trade per week one S and one L Variations: 1) Move SL to BE + 20 pips once 1X TP is reach 2) Move SL to 3X when price reach 4X and let profit run to WE 3) Move SL to 1X when price reach 2X 4) Do not trade when range is > than 200, SL will be > than 2% 5) Do not open new trade within the last 3 candle for the week but allow existing trade to run to last candle of the week Legend: BE=Breakeven, SL=Stoploss. WE=Week ended
  • #5,271
  • Apr 8, 2013 7:23pm Apr 8, 2013 7:23pm
yes it's a simple strategy, oh btw, AUD jpy hit first tp already. .... considering how extended jpy pair has went up i took profit in tp 1 .
100 pips in the pocket .. and eur jpy is on the way.
  • #5,272
  • Apr 8, 2013 7:36pm Apr 8, 2013 7:36pm
ALso, if my understanding is right from what Ace said, he also mentioned if one of the direction hit TP2 or Tp3, most likely the other opposite position will not be hit anymore, thus we can cancel it. ...
  • #5,273
  • Apr 8, 2013 11:46pm Apr 8, 2013 11:46pm
Great to see this thread still thriving..
  • #5,274
  • Apr 8, 2013 11:46pm Apr 8, 2013 11:46pm
Thank you for your information above,

I can understand the method to use a trailing stop,

if the target gets achieved and taken, a new target will be aimed for but the stop can still make us lose,

i live in different time zones and the day becomes different..!!!!

If a trail stop is used it will lock in the profit and I do not need to adjust one day after another,

Stress free to leave it do it by itself,

thank you
  • #5,275
  • Edited Apr 9, 2013 12:07am Apr 8, 2013 11:48pm | Edited Apr 9, 2013 12:07am
Quoting driven18
Thanks... Are there stats available for this tecnique?...many of the original subs for this forum are not here anymore ...I wonder if this startegy still alive and kicking.....anyone with stats, please post.....
driven..here are some figures from previously from posting 5238




Hi, here are the past 10 weeks as posted on last page,

I have gone back to where I found this thread, I had checked the previous 6 weeks which all seemed good,

FEB 1 POST # 5070 +331 RUNNING TOTAL
FEB 6 POST # 5080 -49 +282
FEB 15 POST # 5110 +112 +394
FEB 23 POST # 5135 -169 +225
MARCH 2 POST # 5146 +1422 +1647
MAR 8 POST # 5154 + 468 +2115
MAR 16 POST # 5192 - 55 +2060
MAR 23 POST # 5214 -201 +1859
MAR 31 POST # 5225 +185 +2044
APRIL 5 POST # 5230 +805 +2809

These are the past few weeks, hope they all look o.k. cheers, Steve
  • #5,276
  • Apr 9, 2013 3:16am Apr 9, 2013 3:16am
for Tp range, is it better to use High and Low of the h4 or High and Low + 40 pips buffer ? I personally is going for High and Low of H4 only excluding 40 pips buffer.
  • #5,277
  • Apr 9, 2013 4:20am Apr 9, 2013 4:20am
I have one question.

Let's say
we have buy stop at 12 (TP14)
and sell stop at 8.

If price goes to 16 (buy stop is triggered and closed)
In this hypothetical situation, should I delete sell stop order, or not?
  • #5,278
  • Apr 9, 2013 5:49am Apr 9, 2013 5:49am
i am able to answer that query/question,

i set the trail stop/loss and do not look at the set ups until friday, all the enter orders can be exited then,

do not exit anything until the week is over. They nay be triggered for a profit,
  • #5,279
  • Apr 9, 2013 6:04am Apr 9, 2013 6:04am
Quoting steve d
Here is a copy from a recent post too, 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...

do you trail your stops or just have a fixed stop and tp no matter what. if you trail , then whats the procedure ?
  • #5,280
  • Apr 9, 2013 11:37am Apr 9, 2013 11:37am
Steve_D, as you are the Man here with statistics, can you please answer below question...

1. To Trail or not to trail....Steve_D trails with good results....Steve_D , can you confirm?


2. Steve_D, do you use the TS with this method? If not, can you please post how you use TS?

1) Move SL to BE + 20 pips once 1X TP is reach2) Move SL to 1X when price reach 2X
3) Move SL to 3X when price reach 4X and let profit run to WE
4) Do not trade when range is > than 200, SL will be > than 2%5) Do not open new trade within the last 3 candle for the week but allow existing trade to run to last candle of the week5) Close trade @end of the week if target TP / SL not reach
6) Only 2 trades per week per pair, one S and one L
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