DislikedI took it on because of the turnaround and below the 38Fib. Was then below 8EMA. It also depends on the movement and I would say some experience. It is difficult trading news.Ignored
4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedI took it on because of the turnaround and below the 38Fib. Was then below 8EMA. It also depends on the movement and I would say some experience. It is difficult trading news.Ignored
DislikedIt is just because of working schedule and limited internet access during working hours.
These were the amount of deals for 2006 per time (GMT+2)
01:00---25
05:00---34
09:00---17
13:00---46
17:00---52
21:00---29Ignored
DislikedHi Philli,
Can U tell what is this "amount of deals for 2006 per time"?
Not able to understand what is your message here.
Thanks.
-ChandraIgnored
DislikedHere are the commentaries around each deal. Dont try to calculate the pips as to the exact. The concentration on this should not be on exactly how many pips but rather the story as to why there were pips or why there weren't on any specific deal. What was the motivations as to why the deal was made or not. If it is a risky one, how am I going to reduce my risk.
That should be the mindset when reading and working through this. When you are happy with the mindset of each trade then you can go back and start with candle with candle scrolling to see how you would have done it and when and how would you have closed each trade.
Remember to take your time profile as to when you are available to trade in account when doing the actual testing.
Good luck and I hope this will help you in establishing a positive and precise attitude and mindset.
God bless.Ignored
DislikedYou are absolutely right. Remember also that the price has broken down through the 89SMA and a pullback to the 21EMA is the rule. But the MA's is to crowded so I will wait for a breakout first and then confirmation on the MACD as we are in a little consolidation phase. If the price moves away from the 21EMA coming down and the MACD shows our trend continue setup(move towards zero and then turn away) one can consider entering with first target 1.9500 and second one 365EMA. Also watch the trendline as from 8Jan. We are at support. Patients is the name of the game.Ignored
DislikedPhillip,
Can you tell the significance of using a few SMAs and a few EMAs? Just curious though.
In addition to your very scientific trading method, I very much appreciative of your analytical thinking! Is it an inborn gift or you attained such a clear analytical mind from your education or work experience?
Thanks for your help.
-Chandra
PS: Don't forget to respond to my first question on SMAs and EMAs please!Ignored
DislikedI don't really use pivots unless there is no indicator to set my profit target to and that havent happend yet. As to entry one can get to much involved in indicators and again does not know when to pull the trigger as out of three indicators one is in contradiction to the other and it becomes more confusing. I like it simple. The MACD tells me when to pull the trigger. After that I can focus on the management of the deal according to my plan. If there is really nothing I can set my profit target to I go fishing and I can tell you that does not happen often.Ignored
DislikedI should have stayed in???????. The thought might be nice but I stucked to the rules that trendline can be resistance and took the profit as planned. It is not so much the pips but the discipline to stay to the rules and the plan that brings success. Otherwise we trade emotional. 1.3000 was the resistance it looks like.Ignored
DislikedVery well said {"The thoght might be nice but ...").
Unfortunately, the very similar thoughts are harming us, making us to have more losing trades and reducing our emotional strength to ashes. Thoughts like that are not 'nice thoughts', they are our enemies in disguise as a friendly thought.
-ChandraIgnored
DislikedHello parlenk
I'm not attempting to answer for Philip, since ... well ... it's his system, but I think he's said a couple of times that everything is the result of two years of monitoring and demo trading Eur/Usd.
I'm looking into the system and I set the levels at long-term ATR. For Eur/Usd this is about 30 pips on the 4-hour chart and so the levels correspond to 50%, 100% and 150% of that (works for Usd/Jpy too). This gives you 0.0025, 0.0050, 0.0075 for a 4-hour Gbp/Usd (ca. 50 ATR long-term), 0.0020, 0.0040, 0.0060 for 4-hour Eur/Jpy (ca. 40 ATR long-term), 0.0065, 0.0130, 0.0195 for daily Gbp/Usd (ca. 135 ATR long-term).
It's just and idea, and it does the trick on my charts.
Cheers,
dsl
PS: Thanks for sharing this system, Philip.Ignored