| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
|
| BRITISH BOX BREAKOUT system https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=447 |
Page 1 of 1 |
| Author: | astral77 [ Sun Mar 25, 2012 2:24 am ] |
| Post subject: | BRITISH BOX BREAKOUT system |
Well, this one should be FUN. It is called a British Box Breakout strategy. Why its called BRITISH? I do not know, maybe because the chap who has the site and is selling the EA for $37 a go is British! This is how it works: Draw a line on the high and low of the candles between 07:00 to 09:00am New York time (I suppose it is 12:00 to 14:00 British time). If the price goes above take a long and if it goes below take a short. That is it! I just did a quick check and for some strange reason it seems to work best when scalping for 10 pips. It seems to be a simple version of Mark Fisher`s logical trader. I suppose it is some sort of heads or tails way of trading. If it takes less than 10 minutes of your time to code it then would be interesting to stick on demo and see if this simple system preforms better that the complicated systems we tend to go for. If some people wish to post a reply here telling me I am totally, emphatically and absolutely bonkers I do not blame you and I tend to agree with you. Kind regards P.S. If you need more information you can visit this site http://www.britishboxbreakout.com |
|
| Author: | garyfritz [ Sun Mar 25, 2012 4:35 am ] |
| Post subject: | Re: BRITISH BOX BREAKOUT system |
It works about as well as you'd expect... I backtested it in Tradestation, over the past year, on EURUSD. You only mentioned the TP exit, so I added a SL exit. I experimented with TP ranging from 2 to 50 pips, SL ranging from 2 to 50 pips. I also varied the end and the length of the window, from 10 minutes to 4 hours long, ending between 4am and 5pm NY time. Most results made an average of about 1 pip per trade, and that didn't include spread, slip, or commission. I found a few cases with windows around 10am-12pm NY time that made 3-5 pips per trade on EURUSD, but those looked pretty unstable to me. It didn't work on any other pairs I tried. Most pairs lost money like crazy. I wouldn't waste any time on it... |
|
| Author: | astral77 [ Sun Mar 25, 2012 10:57 pm ] |
| Post subject: | Re: BRITISH BOX BREAKOUT system |
THANKS VERY MUCH GARY. There are couple of London breakout strategy in FF and STEVE had made EAs for them, the indicator`s time setting could be changed to reflect this one. For the life of me I do not know why he calls it "British", where in fact it is the NEW YORK Breakout. GARY, I would be most grateful and if its not too much trouble and providing you have the time can you please run these settings: SL and TP, 15 pips cut off time 16:00 New york time 4 level martingale system (i.e. 1 lot lose first day, 2nd day 2 lots, 3rd day 4 lots, 4th day 1 lot) The other test can be if we only take the breakouts in the direction of the daily and 4H trends, again with and without the martingale. Kind Regards P.S. I am starting a thread on martingale, I would be most grateful if you could give us a hand. I am going to start it here and ask STEVE to move it if he knows where it is more appropriate. |
|
| Author: | garyfritz [ Sun Mar 25, 2012 11:56 pm ] |
| Post subject: | Re: BRITISH BOX BREAKOUT system |
This strikes me as a poor candidate for a Martingale. Those dangerous beasties work best on high-win% systems, so you're not likely to have long runs of losses. The Box system, with your 1600 ET (by 2 hours, I assume) / 15 pip SL / 15 pip TP parameters, wins less than 50% of its trades on EURUSD, and lost 1750 pips in the last year. It also had a run of 8 consecutive losers. (Though that was an outlier -- there were no runs of 6 or 7 losers. In 3 years there were 2 8-loss runs, 1 7-loss, 3 6-loss.) You couldn't trade a Martingale unless you planned for at least a 9- or 10-level survival, or had an emergency-exit plan. I can try adding a Martingale if you want, but it won't be pretty. I'll have to do that tomorrow -- guests arriving momentarily. |
|
| All times are UTC | Page 1 of 1 |
|
Powered by phpBB® Forum Software © phpBB Limited |
|