DislikedPhillip,
After listening to your market rhythm post, you mention that other time frames can be used to find price action and S/R around the ma's. I know that we only really like trend continuation signals on the 1hr TF, but can we use similar macd signals on the lower time frames?
ThanksIgnored
Hi smnitro1, (I'm answering your post...but lecturing to the crowd....sorry to sound so redundant and pendantic...but this is really important....)
I'd be very careful trading the smaller time frame....now, I'll be candid...and this was something I never would have posted on the thread....because it wasn't the 4 hour....
I have the 4 hour, 1 hour and 30 min charts open at the same time for swissie, cable and euro. I like to have all three confirm direction when entering (sometimes use a bounce from an sma to help confirm s&r entry....and it is much riskier than waiting for 1 hour to confirm). On yen pairs I have the 3 charts plus a 15 min (I never trade from the smaller time frames, but have been observing the price action over the last three months & have found a bounce from 365 to be an excellent long entry). Never trade from the smaller time frames, only use to confirm entry. & PLEASE FELLOW TRADERS, practice the technique before implementing it live.
It is extremely important to understand how to use Phillip's system on the 4 hour time frame before moving on to 1 hour early entry. Motion is smoother on the long time frames and price pattern is easier to detect. The smaller time frames act to perfect your entry later on when you are consistently pulling pips from the 4 hour system. The smaller time frames enhance the 4 hour charts, they do not supplant them. Don't trade using 1 hour if you don't remember all the fine details....as you will surely enter prematurely and probably not plan your trade well. With that said, don't trade smaller time frames until you have effectively used the 1 hour early entry first. Focus on learning the motion....use the other time frames to see how price follows the pattern (use it as example and training excerices rather than trading tool for now). Once you understand the motion, the smaller time frame is an excellent way to enter a market that is moving (like that sunday night market a few months ago....the 30 minute chart would have allowed an aggressive trader opportunities to enter the sell off).
Again, let me be redundant because this point is so important....Understand price action and how to plan a trade before you start cruising multi-time frames and multi-pairs. People wonder why they can't be consistent winners...and they get impatient...and try to do too many things at once...and usually they can not do a good job because they aren't focused. Concentrate on 1 thing at a time. Master it. Then study other aspects of the same strategy....master that...do things 1 step at a time. This is a process not a race. Practice seeing the motion. Practice seeing the market patterns. Practice! Practice! Practice!!! Do the work that is required to be a sucessful trader and you will be one. Don't be lazy. Don't be greedy and don't be desperate to trade.
Sorry if I sound like I'm on a soap box. But, I can not stress how important it is to understand the market before moving on to trade smaller and smaller time frames. The smaller the time frame, the riskier the trade. You will feel the need to overtrade...to get 10 pips more....to keep going, without thinking what you are doing or seeing the bigger picture. That is dangerous!! Learn the skills...work hard at perfecting the method. I promise you it will be well worth your efforts and your time. Also, the less often you enter the market, the more likely you are to finish with pips in your account. Look for the good trades...wait for them...then seize the opportunity that you easily recognize because you have trained yourself so well!
Happy Preparation for a Long & Successful Trading Career!
Pips
. 
whose demo account rarely saw a +trade! Thanks again Phillip! May God's richest blessings pour on you.
