Gus forex 4h break out

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21

I recently (i.e. yesterday!) started working on an EA for Phil’s Sunday Breakout System. And with minor revisions, I can code this method as well. I think it would be great to have an EA, as I’m not always able to check my positions for stop moving or profit taking.

They are both great strategies. And I love the idea of just setting it up, on and EA, leaving it, and letting it take care of itself.

I’ve already made on EA for the NY and London Open. Although the London Breakout 1, strategy appears to be slightly more clever for the London Break, so I will try to code that as well. All in good time.

I think adding the Sunday strategy I should have what i need for now, to start making a good amount of pips.

My goal is to have a one or two EAs which trade profitable break out systems, and then trade one chart on my own based on other strategies, such as the “45 Pips per day” strategy on the 30m EURUSD OR the Trend Channels that I have been able to trade successfully on the USD CHF.

I don’t want to overwhelming myself with too many things are one time, nor do I want too much automation when I’m still a newbie at all of this. But if the strategy works, and the system is mechanical, why not code it?

I’m also finding, that the way to more pips is to have a few trading strategies/systems. Each system might make only, say, 30 pips a week. But three of those makes 90, and you’re on to having higher profitability.

Ofcourse, you need to consider all systems together for issues such as risk and drawdown.

But I ramble…

Anyways, great system, and I look forward to trying it out.

22

Hey… thanks for the help… i´ve been using both strategies for couple months… and I can say that the Gus is more profitable for me so far… . There is Also an Ea codded in the Phil strategy thread… so I guess the phils strategy is already coded :slight_smile: …

thanks!!

23

You’re right, there’s got to be someone who has coded both strategies already. But I enjoy coding stuff myself :slight_smile: , and it avoids me treating the EA as a “black box” which I can’t tune at my own volition (not that I would change the system, but more so the features of the EA).

I’m gonna code some more tonight, and I should be able to have something working for next sunday.

I was looking at the Monday4HBreakout Indicator. The past several weeks it’s been good at hitting the TP3!!! Some weeks hitting it for both long and short! Definite have to try this out, and code it!

24

If you have any news on the EA please let us know ok friend?

thanks!

25

So the stop loss is set on the other side of the sunday candle? or is the size of the SL the distance between the high and low lines?

26

I’m not sure if you guys know it or not, but there is a 300+ page thread about this system over at ForexFactory with a TON of indicators and EA’s. :slight_smile:

It’s called “4H Box Breakout” and it’s in the Trading Systems section. I found out about it 6 months ago when someone accused me of stealing my system from Gus. :eek:

Gus from gusforex.com didn’t even invent this system. It originally came from a guy called Ace284, Gus just trades it and blogs about it.

27

Hey!!

thanks for the info phil… have you ever traded this system?? Im trading and im having some very good profits so far…

I´ll look over the forexfactory thread too see if I can find good information!!

P.S - I looked at it and its so messy lol… hard to find the good information with so many posts, if anyone has seen that topic already and knows where the ea is hidden, please let us know here :slight_smile: and also… does Gus uses same mm and take profits as ace?? I couldnt find the how does ace takes his profits…

Thanks!!

28

i checked out the thread, it looks like their indicator has large TPs than the indicator found on this thread. But other than that, it’s a really good thread to know about. Thanks for informing us.

Well my live account has been funded. I have a spread sheet to calculate all the SLs and TPs, and to calculate my lot based on my risk. So it all goes does this sunday.

29

Hello friend!!! please… dont risk more than 2% per trade :)… that way you will live long enough to see if strategy works :slight_smile:

30

You got it bro. At this point I think I’m comfortable with something around 0.5% Risk. I think it’s more of a confidence thing, and especially because right now any losses will dip into my initial equity. Once, I start making some steady profits, and I know that any losses I have will take from the profits I already made, then I can be a little more ambitious with my profit goals. These are still baby steps right now.

I’m eager to give the Sunday Breakout a try this coming Sunday/Monday.

31

Ok!!
this week update 15/03

So far i Got a short trade… already took TP2 … waiting to reach TP3 :smiley:

Still looking for a coder for this strategy!!!

THANKS!!

32

grrrr

I made the safe decision to try this method out on demo first, as this was the first time I was trying it (I’ve been using Phil’s breakout strategy thus far), and want to make sure all was fine. Well this week it’s looking good! So next week I will take it live.

33

TRADE IS CLOSED

TP3 REACHED

34

It Was A very good Week for this strategy TP3 reached on long and short!!!

Im working to make an ea for this strategy… i will post any updates here!!!

thanks!

35

Congrats on your profits! I was comparing this method to the slight differences found with the 4HMonday Breakout Strategy. The TPs are slightly greater, because they take the 20pip filter as part of the box. I’m gonna try out this method exactly as it is posted here. It worked great last week, but that was on demo. This week it’s live!

I will also work on an EA for it as well, and it should be easy, just two pending orders after the first candle of monday closes, adding movement of SL’s etc.

36

hey! it is impossible to have two winners this week, because there was at least one loser.
First option: Second monday candle goes under red line so we sell, then it goes over blue line so Sell trade hit SL and we open buy trade, then it goes under red line again so buy trader hit SL also.
Second option: Second monday candle goes over blue line so we buy, then it goes under red line, so buy trader hit SL and we open sell trader. Sell trader was winner.

And you don’t use any buffer…

37

there was two loser traders.
Price goes under red line so we sell then it goes over blue line so sell trade hit SL and we open buy trader. Price goes under red line againg so buy trader hit SL also.

38

We definitely use a 20 pip buffer. Unfortunately this week the short got activated then stopped out due to a downward spike. The long has been taking some time and just a few minutes ago almost hit TP3. Still a profitable week, we’ll see!

39

Ok, but why then hit post that TP3 was reached?
and put an indicator on chart which includes 20 pips buffer on both sides. for clearer picture.

40

if he uses 20 buffer, TP3 was not reached here.