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4H Box Breakout

  • #5,341
  • Apr 19, 2013 8:05am Apr 19, 2013 8:05am
I agree with you but I think that we sometime forget that the trading and money management is linked to probability. Using martigale (opening positions with higher volume) could me done according to this probability to succeed and could respect the created money management ... No ?

Quoting DapperDan59
Let me give you some OLD TIMER advice, stay right away from Martingale... you blow your account quicker than you can spell FOREX. You will NEVER become a successful trader if you use these types of strategies. Using good MM on this as I have already tested if you read back a few posts you will see you can make very good money and protect you investment at the same time. Money Management, other successful traders will back me up here when I say that it is the MOST IMPORTANT thing to learn. STEP2, is Psychological!!
  • #5,342
  • Apr 19, 2013 8:27am Apr 19, 2013 8:27am
DapperDan, any preliminary results on other JPY pairs testing?
  • #5,343
  • Apr 19, 2013 11:28am Apr 19, 2013 11:28am
No!!..... Not JUST probability, we ONLY look for HIGH probability, dangerous to mix those two! -- No edge means continuous lost money.

Quoting Gymerus
I agree with you but I think that we sometime forget that the trading and money management is linked to probability. Using martigale (opening positions with higher volume) could me done according to this probability to succeed and could respect the created money management ... No ?
  • #5,344
  • Apr 19, 2013 11:29am Apr 19, 2013 11:29am
No sorry not yet finished, have been a little busy this week, but plan to finish another over the weekend.

Quoting driven18
DapperDan, any preliminary results on other JPY pairs testing?
  • #5,345
  • Apr 20, 2013 6:34am Apr 20, 2013 6:34am
Quoting Gymerus
I agree with you but I think that we sometime forget that the trading and money management is linked to probability. Using martigale (opening positions with higher volume) could me done according to this probability to succeed and could respect the created money management ... No ?
Hi again, there are a lot of good ideas that can be offered and welcomed, MARTINGALE should never be used on any thing,, please do not promote this, thanks,
  • #5,346
  • Apr 20, 2013 11:07pm Apr 20, 2013 11:07pm
Second THAT!!!

Quoting sio bel
Hi again, there are a lot of good ideas that can be offered and welcomed, MARTINGALE should never be used on any thing,, please do not promote this, thanks,
  • #5,347
  • Apr 21, 2013 4:48pm Apr 21, 2013 4:48pm
hi guys, it look very smart strategy, i will use it on pair GBP/JPY,
my risk will be 2.5 % on one trade, thanks for sharing
  • #5,348
  • Apr 21, 2013 8:15pm Apr 21, 2013 8:15pm
here are my pending orders for

GBP/JPY

long entry 152.30 SL 151.46 , TP 154.83 , 2.5% risk
short entry 151.46 SL 152.30 , TP 148.93 , 2.5% risk

is this ok? thanks for answer
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 114 KB
  • #5,349
  • Apr 21, 2013 8:16pm Apr 21, 2013 8:16pm
Hello again all, I have just got to the screen and am putting up GBP/JPY and AUD/JPY only.

After reading all the posts about the doubling up of pairs, I think this is best, screen shot to go on too,

GBP/JPY ENTRY ORDER BUY 152.3
ENTRY ORDER SELL 151.64 STOP/LOSS according to plan is 26..!! I think this is too small...... I am putting a stop of 50, I hope you agree

Attached Image (click to enlarge)
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  • #5,350
  • Apr 21, 2013 8:19pm Apr 21, 2013 8:19pm
AUD/JPY ENTRY ORDER BUY 102.87
ENTRY ORDER SELL 102.23 Stop at 24 according to rules but I am placing 50 as my Stop,

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 210 KB
  • #5,351
  • Apr 21, 2013 8:25pm Apr 21, 2013 8:25pm
Quoting steve d
AUD/JPY ENTRY ORDER BUY 102.87 ENTRY ORDER SELL 102.23 Stop at 24 according to rules but I am placing 50 as my Stop, {image}
Hi Steve,

please do take a look at my picture is from FXDD broker as reference one, is different 20 pips with your. Why?
thanks for answer
Attached Image (click to enlarge)
Click to Enlarge Name: fxdd time.jpg Size: 241 KB
  • #5,352
  • Apr 21, 2013 8:30pm Apr 21, 2013 8:30pm
The report from last week...GBP/JPY PROFIT 26........EUR/JPY DOWN 9.......USD/JPY DOWN 21,,,,TOTAL DOWN 4.

My results are quite different to others as I chose the 3 pairs and I use a trailing stop, hope you guys did better,

feel free to post any questions, I would advise that we keep the method as close to original as possible, thanks,

Steve
  • #5,353
  • Apr 21, 2013 8:41pm Apr 21, 2013 8:41pm
Quoting krutoj
{quote} Hi Steve, please do take a look at my picture is from FXDD broker as reference one, is different 20 pips with your. Why? thanks for answer {image}
Hi KRUTOJ , thanks for your charts, I believe that the brokers use different times for their candles, I am in Australia and the first 4 hour candle is the same as the Sunday candle U.K. time.

I am sorry that this is confusing, my broker may be different to yours, please go ahead with what you have on your screen,

I would advise everyone to trade what you see on your screen as we all have different times and prices,

I have posted my screen shots to minimize confusion, hope this helps, thanks, S
  • #5,354
  • Apr 21, 2013 8:47pm Apr 21, 2013 8:47pm
I have just realised that putting up the Daily chart is confusing,so here is the 4 Hour

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 210 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 211 KB
  • #5,355
  • Apr 21, 2013 8:50pm Apr 21, 2013 8:50pm
Steve, are you remembering the 20 pip buffer top and bottom?


Quoting steve d
AUD/JPY ENTRY ORDER BUY 102.87 ENTRY ORDER SELL 102.23 Stop at 24 according to rules but I am placing 50 as my Stop, {image}
  • #5,356
  • Apr 21, 2013 8:50pm Apr 21, 2013 8:50pm
Attached Image
gbp/jpy

Attached Image
aud/jpy
  • #5,357
  • Apr 21, 2013 8:53pm Apr 21, 2013 8:53pm
The NZDJPY seems to be the trade taking off this morning!!
Attached Image
  • #5,358
  • Apr 21, 2013 8:55pm Apr 21, 2013 8:55pm
Quoting steve d
Hello again all, I have just got to the screen and am putting up GBP/JPY and AUD/JPY only. After reading all the posts about the doubling up of pairs, I think this is best, screen shot to go on too, GBP/JPY ENTRY ORDER BUY 152.3 ENTRY ORDER SELL 151.64 STOP/LOSS according to plan is 26..!! I think this is too small...... I am putting a stop of 50, I hope you agree {image}
Hi dapperdan....Thanks for all your posts and addvise,

Yes the buffer goes on to Buy/Sell, even so, this is a small high/low, I have opted for a bigger (50) Stop than the method box size stop/loss
  • #5,359
  • Apr 21, 2013 8:56pm Apr 21, 2013 8:56pm
Quoting DapperDan59
The NZDJPY seems to be the trade taking off this morning!! {image}
Hope the Aussie follows....whatever the Kiwis do, the Aussies are sure to follow...!!!
  • #5,360
  • Apr 21, 2013 8:57pm Apr 21, 2013 8:57pm
My gbpjpy trade has 85 pips from entry to stop and the eurjpy trade has about 75 pips

Quoting steve d
{quote} Hi dapperdan....Thanks for all your posts and addvise, Yes the buffer goes on to Buy/Sell, even so, this is a small high/low, I have opted for a bigger (50) Stop than the method box size stop/loss
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