Gus Forex, college student on a mission

[Benjamin]

Hi there pipsters !

I have to say that this very simple 4H yen breakout system is incredibly exciting (I am yet to test the 15M one)

I Have used the "monday H4 box(2) indicator" and tested it the following way :

If price breaks on either side, aim for 3 times the pips of the first candle of the week (or the 3rd dotted line of the indicator) and put SL at the other end of the same candle (so basically you reward/risk ration is 3:1)

When price reaches de second dotted line, move SL to BE

I manually backtested with a 5 % risk on each trade and the result is astonishing :

year 2007 and 2008 have a return of approx 850 % !!! with a maximum drawdown of around 13-14 %


these results however do not take account of the spread and the 15 pip fakeout protection used, but they are still pretty impressive....

what do you guys think ?

[gfeliciano]

Yeah the 4H is a great and my favorite strategy. Being a college student I have very little free time especially during the week and my class schedule. I will try your ideas this week see how they work.

[Benjamin]

Hey guys so I was setting up to trade this week's WYB on GBP/JPY with the method I described in my earlier post, but a couple of factors convinced me to take out 3/4 of my position on the first dotted level :

a) support @ a 6 month old daily trendline and sign of reversal (2 good wicks)

b) relatively large first candle

well, I'm still out with 125 pips on 3/4 of my order so not bad !!


DId any of you guys trade this breakout ? If yes, would you care sharing how you managed it yet ?

[gfeliciano]

Hey there I did trade the GBPJPY breakout and the thing is I normally just go for the first TP which in this case is 128 pips +- spread. But I also started using moving averages to see if the trend is strong this way I know if I should stay with it to try and get the second TP or just exit. I worked this morning so I just took the first TP.

[gfeliciano]

4H Breakout this week.

GBPJPY 126 pips +
EURJPY 115 pips +
CHFJPY 55 pips +
AUDJPY 58 pips +
USDJPY 50 pips + I exited this early because I had to go to work and the trend didn't seem strong enough, so didn't wan to risk it.

I wast able to trade the USD 15min breakout this morning, but I did have great luck with he 4H.

[wilder]

Big Dog Breakout

Great setups this morning and many pips

e/u short = +35
u/chf long = +14
g/u short = +46
u/cad long = +40

Closed with 135 pips this morning. I just may close my charts for the day and catch up on some posts and reading.

Thanks to all contributors to this great journal.

[gfeliciano]

Wow that looks great Wilder, yeah these two strategies have really been helping me. I just need to find a way to code an EA for the 15min strategy, since I do have classes in the morning and hard for me to trade.

[gfeliciano]

I have had good luck with these strategies so I will keep this journal here updating but also open up a blog just since it is easier to customize the way I want. I will update both everyday. I will also hopefully try and find a coder to code the EA for me.

[okanemochi]

Thanks for this information gfeliciano.

Could you possibly write a post updating how you are currently applying the 2 methods? Are you still using set SL and TP and if so what are they? Still using a buffer? In the first post you describe the 4 hr Yen breakout as a set and forget set up but now you seem to be actively managing the trades.

I'm hoping you can clarify these points.

[gfeliciano]

Yeah sure, I have been pretty much only using the 4H strategy now due to working early.

I do manage the 4H more actively now just because I am short on time and especially the last week or so with the 4th of july weekend I was afraid of things conflicting. But I feel like this coming week should be a nice set and forget week. I am also using the indicator I posted and just hitting the 2nd TP which seems to be working nicely. But even that is at least 100 pips to 200 pips per currency pair.