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4 Hour Strategy (MACD)

  • #4,481
  • May 17, 2007 9:20am May 17, 2007 9:20am
Quoting BIL2205
I set my alarm clock during the night to check on diff formations as posted by "weghio" . But according to phillips sytem we have to wait for the bar on MACD to close. so according to my chart for usd/chf if i had taken the arrow down bar as a RT signal. it would have been a wrong decision bec it shot up after that.
I am still on demo account until i have this system learned by heart. Did not do any trades last night since no clear direction. Please feel free to give ay comments. Thankyou.

Hey Bil2205, looks like on your timeframe the bar moved a little too far down by the time the rt formed, so I'm guessing you wouldn't take it due to the R:R not being so good. If someone were on my timeframe + 1hr or something like that, though, it could've been a good trade. What concerns me now is that the previously drawn trendline is also broken through by the move up..
  • #4,482
  • May 17, 2007 9:21am May 17, 2007 9:21am
Quoting weghio
gbpusd: RB formed off the 365. I probably would've taken this one and lost my ass. Given how it's been bouncing off 365 and 200ma for the past few days, any reason for not taking this one?
Mmmm!I thought this trade was an absolute no-brainer!RR was good.200MA was the target.Admittedly I jumped the gun with 4hr RB,while 1hr MACD was threatening opposite TC signal.Should've waited.Took it +- 9hours ago. Got burned to the tune of 39 pips on this one. Was wise enough to place stop loss just under 365EMA.Who knows how much further it may fall after Bernanke speaks.
After failing to fall thru 365EMA 4/5 times the trade looked on. Only negative,with benefit of hindsight, is that the 89MA was on the verge of crossing 200MA
  • #4,483
  • May 17, 2007 9:42am May 17, 2007 9:42am
Quoting Doji Star
Mmmm!I thought this trade was an absolute no-brainer!RR was good.200MA was the target.Admittedly I jumped the gun with 4hr RB,while 1hr MACD was threatening opposite TC signal.Should've waited.Took it +- 9hours ago. Got burned to the tune of 39 pips on this one. Was wise enough to place stop loss just under 365EMA.Who knows how much further it may fall after Bernanke speaks.
After failing to fall thru 365EMA 4/5 times the trade looked on. Only negative,with benefit of hindsight, is that the 89MA was on the verge of crossing 200MA
Doji - I got burnt as well on this trade - luckily still demoing the system! :-) It was against my better judgement that i stayed in the trade, it lingered a long the 365 ema for 4 - 5 candles, and i stayed in the trade. should have cut losses / taken small profit earlier
  • #4,484
  • Edited 10:22am May 17, 2007 9:54am | Edited 10:22am
Well, when EURUSD cross one of my Trendlines I short it at 1.3493, and close it already at 1.3481.
At this point Beware Long Positions, I will go long only if Today EURUSD reach 1.3467, and even at this point it is very danger, because in my opinion Dollar is starting to stay stronger each day.
Go long only for Partial profit at 10 pips, other to 25 and then try to reach 21 with BE SL.
Cable I buy only at 1.9717.
I will wait MACD H1 Signals and good results of "Philadelphia Fed Manufacturing Index" then try to buy at good buy levels and good signals.

MIKE
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  • #4,485
  • May 17, 2007 10:02am May 17, 2007 10:02am
Quoting O'Zeeke
Hi Elmer, your DEMA looks interesting, i tried to load it but the file name changes to "accumulation" when i try to load it in indicators. Any help wuold be appreciate. Thanks, O'Zeeke
Hi, I dont understand the type of problem you ar getting, it works all fine for me, I will post compiled files as well now.

elmer
  • #4,486
  • May 17, 2007 10:46am May 17, 2007 10:46am
Hi:

As every one knows thet browsing 300 pages and 20 post on every page is a pain in the B........ so can one please sumerize what came up in the thread untile now please ?

Regards
yakov
  • #4,487
  • May 17, 2007 10:53am May 17, 2007 10:53am
Quoting Yakovzvi
Hi:

As every one knows thet browsing 300 pages and 20 post on every page is a pain in the B........ so can one please sumerize what came up in the thread untile now please ?

Regards
yakov
Read the first post... there you will find where Philip made a great sumarry some days ago...

elmer
  • #4,488
  • May 17, 2007 10:54am May 17, 2007 10:54am
Quoting Yakovzvi
Hi:

As every one knows thet browsing 300 pages and 20 post on every page is a pain in the B........ so can one please sumerize what came up in the thread untile now please ?

Regards
yakov
Check out page 289 post#4335.
  • #4,489
  • May 17, 2007 10:56am May 17, 2007 10:56am
Hello Yacovzvi!, You can go to the 1st post of this thread by Philllip and read through the PDF attachements there and follow the link at the buttom of the 1st post for a summary of the method.

However, as Phillip rightly stated, you really need to read the 300 pages to get the full grasp of the system and even reading again and again is better.

It is only by doing so that you will truly understand how this great and wonderful method work.

As Forex is to be treated as any business and it is not a get rich quick, we need to take the time to go through all the thread wich will teach patience and discipline, 2 great assets and qualities necessary to become successful in this business.

Hope this help

Good trading for all

shreem
  • #4,490
  • May 17, 2007 10:56am May 17, 2007 10:56am
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  • #4,491
  • May 17, 2007 10:58am May 17, 2007 10:58am
Quoting Yakovzvi
Hi:

As every one knows thet browsing 300 pages and 20 post on every page is a pain in the B........ so can one please sumerize what came up in the thread untile now please ?

Regards
yakov
Hi Yak, just my opinion but there isno easy way, Phillip posted a great compillation of his strategy a few day ago and you should look there but you just have to wade through the whole thing as there have been so many great contributions, daily wrapups, etc that will help your understanding
  • #4,492
  • May 17, 2007 11:06am May 17, 2007 11:06am
Quoting BIL2205
I set my alarm clock during the night to check on diff formations as posted by "weghio" . But according to phillips sytem we have to wait for the bar on MACD to close. so according to my chart for usd/chf if i had taken the arrow down bar as a RT signal. it would have been a wrong decision bec it shot up after that.
I am still on demo account until i have this system learned by heart. Did not do any trades last night since no clear direction. Please feel free to give ay comments. Thankyou.
Hi BIL2205
I did take the trade last night as it lined up on my signal and hit the 21EMA perfectly on the 8o'clock candle.
It looks like this is a case of signals varying slightly depending on time zones (I am on Atlantic Canadian time). Often I do not seem to get the perfect trades because my signals differ to some others. However I guess it all works out in the longer term.
I also am trying to look at the larger picture and the market emotion because I have had "paralysis of analysis" over the last few weeks. If one believes that the system is truely effective, which I believe and have back tested to proove to myself, then one should just go with the setups that are provided.
This change in mind set has allowed the pips to slowly start trickling back in again.
  • #4,493
  • May 17, 2007 11:09am May 17, 2007 11:09am
Ok, so eurjpy...I was asleep last night and didn't take the TC long, but now seeing that the price is around the same level I just took it small @ 163.65, with S/L of like 35 pips. Basically, had I taken this last night I'd still be in the trade so as far as I'm concerned, this is par for the course. Now watch me get slaughtered :/
  • #4,494
  • May 17, 2007 11:28am May 17, 2007 11:28am
thats why i read the first post
  • #4,495
  • May 17, 2007 12:42pm May 17, 2007 12:42pm
You have to master this.!!!!!!!!!!!!!!!!
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  • #4,496
  • May 17, 2007 1:10pm May 17, 2007 1:10pm
Is there a compilation of all the rules that Phil has developed?? I do not remember seeing a list of all the rules. I am beginning to compile all the rules together if not. Any input would be great.
  • #4,497
  • May 17, 2007 1:29pm May 17, 2007 1:29pm
Hi RyanD, reading (and listening to) the summary of the system would be a good place to start.
  • #4,498
  • May 17, 2007 1:38pm May 17, 2007 1:38pm
3 1/2 hrs to go until next candle on my timeframe, currently looking at:

usdjpy - possible big RT, but don't really like it too much as i don't see any definable resistance around the area. sure the R:R would be good but probably wouldn't venture beyond the 8ma.

eurusd - possible medium RB, R:R looks ok but again, no definable resistance in this area that I can see.

gbpusd - possible RB, but I'd stay away as 365ma is too close.

usdchf - possible big RT, same issue with usdjpy, although R:R is again good.


These are all countertrend trades, so I might just take one of them that looks best if I take one at all...
  • #4,499
  • May 17, 2007 1:43pm May 17, 2007 1:43pm
Quoting RyanD
Is there a compilation of all the rules that Phil has developed?? I do not remember seeing a list of all the rules. I am beginning to compile all the rules together if not. Any input would be great.
Hi R

Was about to do the same - to make a list of all the price movement rules.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,500
  • May 17, 2007 2:01pm May 17, 2007 2:01pm
1. Price breaks through 89, it tends to go back to the 21 and then moves on.
a. if 200 SMA is in between, if price breaks 200SMA it goes back to
the 200SMA and then moves on
2. When the price moves above the 365EMA and back to the 21, it then
tends to move back away from the 21
3. At End of run: when price goes below 21EMA, the price tends to pull
back to the 21EMA & sometimes through the 21EMA and then goes back
to the 89EMA.
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