PipBoxer V5 Strategy

PipBoxer V5 is a dynamic reversal/fade breakout system. The strategy consists of some major steps to enter the trades correctly, manage them in the best way possible and exit them safely. Here are those strategies:

1. Recognizing a reversal opportunity and fading a dynamic breakout.
2. Filtering out false signals.
3. Taking risk management into account.
4. Entering and exiting trades.
5. Adopting money management techniques.

Table of Contents:

1. Recognizing the Box Size
2. Filtering Out False Signals
3. Built-in Visual Aids
4. Taking Risk Management into Account
5. Entering and Exiting Trades
6. Adopting Money Management Techniques

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Recognizing the Box Size

PipBoxer V5 constantly monitors the market to find trade opportunities. It uses a sophisticated technology to locate those price levels or rather boxes that could possibly result in profitable breakout reversals. In other words it finds those breakouts that are a sign of reversal in the direction of the market. PipBoxer always enters in the opposite direction of the breakout.

If you get disconnected from Internet or your broker’s server, or if you restart your computer and/or MT4 PipBoxer V5 resumes the analysis and if a trade opportunity comes along it would enter the trade. It, however, enters a trade only if the price crosses the trading stripes after the connection is resumed.

If you do not see the box then there are no trading opportunities. If you see the box then one of the following situations may happen.

• The peach box is present but there is no arrow on it: No trades would take place. This situation rarely happens.
• A green arrow appears on the peach box: The system will enter a long trade if the Ask price crosses up the trading stripe.
• A red arrow appears below the peach box: The system will enter a short trade if the Bid price falls below the trading stripe.

The exact trade may take place away from the stripe depending on your broker and market situation. The stripe shows the proximity of the entry level.

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Filtering Out False Signals

PipBoxer V5 uses a custom made indicator to filter out false signals. We call this indicator Enhanced Bands which is a modified version of Bollinger Bands. Click here for more information about this indicator. The developer of the Enhanced Bands is the same as the developer of PipBoxer (i.e. Al Parsai).

The indicator helps to dynamically respond to market movements.

The red and green arrows appear on the chart based on price action calculations. They help the trader to see the potential direction of the trade. If you believe this is not the direction you would like to trade you may disable trading by assigning “false” to the external/input variable TradesAllowed. See the “Cheat Sheet” manual for more information about input variables.

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Built-in Visual Aids

PipBoxer V5 draws rectangles, arrows, and trading stripes on the chart to give you a better feeling of how the system works. The rectangles represent the analysis boxes, the arrows show the potential direction of the trade, and the stripes show the proximity of where a trade might take place. These visual aids help you to have a better understanding of trading opportunities in the near future. They also give you the ability to disable trading if you believe that the generated signal is not right.

Managing the Visibility of Visual Aids

You can control the visibility of visual aids with the help of an external variable called "draw_shapes". If this variable is “true” then PipBoxer draws shapes (the default value). You may change it to “false to disable this feature.

PipBoxer V5 uses a special naming convention to specify the name of each shape. “(symbol)” represents the symbol name. For example if you are trading EURUSD then the name of the peach box would be PB_Box_EURUSD.

• PB_Box_(symbol): The peach box
• PB_Arrow_(symbol): The arrow
• PB_Stripe_(symbol): The stripe

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Taking Risk Management into Account

According to "Investopedia.com" Risk Management is “the process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance.”

In other words a complete trading system is the one that gives you the opportunity to mitigate your risk while you have the chance to gain profit. I believe that PipBoxer is such a system. It offers several features to increase your chance to make more money and lose less.

Value_At_Risk (VAR)

Every PipBoxer V5 EA gives you the opportunity to trade the correct lot size according to “Value-At-Risk”. VAR (or value-at-risk) is simply the maximum percentage of your account equity that you are willing to lose in a single trade. It is very important to take VAR into account. It could help to reduce your risk and even increase the profitability of your system.

The precision of the VAR calculations highly depends on the ratio of the minimum lot size that your broker allows you to trade to your account balance. If your account balance is low or the minimum lot size is high the actual risk could be higher than what you expect.

Currency Pair Diversification

The other risk management tool is “currency pair diversification”. PipBoxer is capable to trade up to 12 currency pairs. Trading more than 1 currency pair could help you to distribute the risk among different EAs rather than relying on one EA alone. Our live reports and also back-test reports show that the result could vary among different pairs.

My suggestion is to distribute VAR between 3 or more currency pairs and let them trade at the same time. You may choose the ones that you feel more comfortable with, or your broker offers tighter spreads on.

Other Risk Management Tools

There are five variables in place that can help you mitigate your risk.

• UserLots: This variable enables you to take the order size under your control. If you assign 0 or a negative value to “Value_At_Risk” then PipBoxer uses the value of “UserLots” as the size of each trade. For example if “Value_At_Risk” is 0 and “UserLots” is 0.1 then the size of each order would be 0.1 lots. If you want to use “UserLots” instead of the automated lot calculator, make sure to assign 0 to “Value_At_Risk” and also enter a value for “UserLots” that is acceptable by your broker.
• no_risk_balance: This value is the part of your account balance that you don’t want to be risked on a trade. For example if your account balance is $25,000.00 and you set $10,000.00 to this variable, the system calculates the lot size based on the remainder of the balance that is $15,000.00 (or 25,000-10,000). So if your VAR is 10% the worst case scenario would be to lose $1,500.00 per trade not $2,500.00.
• enter_high_risk: Suppose your broker doesn’t allow you to trade less than 0.1 of a standard lot. If the calculated lot size for a trade is less than 0.1 lots and “enter_high_risk” is “true” the system will trade the minimum lot size (i.e. 0.1 lots). However, if the trade hits the SL it may lose more than the value you have set to VAR. To eliminate the risk of losing more than what you can afford assign “false” to “enter_high_risk”. When “enter_high_risk” is “false” the system will only enter a trade if the calculated lot size is equal or more than the minimum lot size. The default value is “true” to avoid missing any trades. This feature is especially very important if your account balance is low.
• _above_max_lots_ok: This variable is set to “true” by default. When this variable is true if the calculated lot number is more than maximum number of lots allowed by your broker the system trades the maximum number of lots. If the variable is “false” and calculated number of lots exceeds the maximum lot number the system does not initiate the trade.

Trade/Risk Management Tools

There are some variables/tools that could be considered risk management tools but we have placed them under Trading Tools. These variables give the trader some level of freedom to control the behavior of PipBoxer the way he/she wants. We have preset the values of these variables to what we believe are the best but you have the chance to change them at your own discretion.

• TradesAllowed (default value = true): If “false” PipBoxer won’t enter new trades.
• _max_SL (default value = 1000): Defines the maximum loss per trade in pips. PipBoxer automatically calculates the maximum SL in pips however you may limit PipBoxer calculated value with this variable.
• trades_slippage: Slippage shows the systems flexibility at the time of entering a new trade. For example if the current Ask price is 1.9000 and the “trades_slippage” is 2 when the system request to initiate a trade the broker has the flexibility to open the trade up to 2 pips away from the requested price. The default value is set to 2. If your broker re-quotes you a lot you can increase this value. However, you may increase your chance of losing a trade.
• AvoidConsolidatedMarkets (default value=true): If true avoids entering new trades when the market is consolidated (the potential distance between SL and TP is very short).

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Entering and Exiting Trades

A complete auto-trader is the one that can enter and exit trades automatically. PipBoxer V5 is no exception. It automatically enters a trade when it recognizes an opportunity and exits a trade by setting proper Take Profit and Stop Loss levels. The entry and exit happens according to the strategy and settings of the EAs.

The _server_time Variable

This variable is obsolete. We do not use it in PipBoxer V5 anymore.

Multiple Trades on the Same Pair

To follow the recent rule of “no hedging” set by NFA PipBoxer V5 does not enter multiple trades on the same pair.

Sending Email Signals (NEW)

PipBoxer V5 offers a new feature which enables you to receive email signals from PipBoxer. You may use this feature to be notified about new trades or managing existing trades. One option is to attach V5 to a demo account and receive these signals, then, manually trade them. This could add a level of protection if you are concerned about a fully automated system. You may control this feature with the help of the send_email input variable.

• send_email (default value=true): Sends out email signals when enters new trades or modifies an existing trade. Visit User’s Guide for more information.

You need to setup MetaTrader in order to receive such signals. If you are not familiar with setting up MetaTrader for this purpose, click here .

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Adopting Money Management Techniques

Money management (MM) techniques are those that you use to get the best profit from each trade. With the help of these techniques you can maintain the win rate (i.e. the ratio of winning trades to losing trades) while you increase your pay rate (i.e. the average gain per winning trade to the average loss per losing trade). PipBoxer V5 uses a sophisticated approach to manage open trades. There are some built-in tools that the trader does not see them. We have also made two variables available to the trader to see two of these tools and disable or enable them.

I have optimized the system and assigned proper values to these variables. You do not need to change the default values However, you have access to these variables just in case you wish to customize the system based on your priorities.

• OneTimeTPCompromise (default value=true): In some cases if the price moves against you it lowers TP to exit the trade safely if the market retraces in your trade’s favor.
• OneTimeSLModification (default value=true): In some cases if the price moves in your favor it moves SL to lock in part of the open profit.

We believe that with all these MM tools in place you are guarded against negative market movements to a great extent.

With a combination of market analysis techniques, entry and exit tools, risk management techniques, and money management tools PipBoxer V4 is beyond a simple EA. It is a powerful trading package.

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About PipBoxer Forex Solutions

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