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4 Hour Strategy (MACD)

  • #5,141
  • Jun 15, 2007 11:11am Jun 15, 2007 11:11am
Quoting Cope
I jumped ship on my EU short about 20 mins before the news so I only lost 12 pips. Would have been much worse if I would have waited. I didn't look at the larger timeframe prior to that entry, I was looking at some room between price and the lower channel tl which is why I thought maybe. The lesson that I've learned, hopefully it sticks in my thick skull this time, is too wait one way or another until MACD confirms the entry. Regardless of the daily, had I waited for that confirmation, I never would have been in that trade. I lack discipline, learning the hard way is usually the way I learn!
Hi Cope, learning the hard way sometime is the best way of learning, just think of it as tuition you pay to go for a college education, in this case to me its likegoing to Harvard. We are learning from the best! Stick with it and with the help of the excellent people here you will get better.
Everyone have a great weekend and looking foreward to learning/earning more next week.
O'Zeeke
  • #5,142
  • Jun 15, 2007 11:33am Jun 15, 2007 11:33am
Quoting pips4uandme
Hi Ira!



& now, my sleep is normalized so I can live the next few days like a normal person...Palmer....clean his room? .....

Have a great weekend!!!

Nope, haven't cleaned the room yet...Maybe in a few weeks.
  • #5,143
  • Jun 15, 2007 2:07pm Jun 15, 2007 2:07pm
Hi all

I saw this in alot of posts (R:R) what that means? Is it means the Ratio of win to loss ?

ammar
  • #5,144
  • Edited 11:28pm Jun 15, 2007 2:59pm | Edited 11:28pm
Hello Ammar2000a70,

R:R means Risk to Reward Ratio. How much are you prepared to loose in order to profit on your trade. R:R 1 means you can risk 50 pips stop loss for 50 pips gains.

Hope it help

Have all a nice week-end

Shreem
  • #5,145
  • Jun 15, 2007 4:58pm Jun 15, 2007 4:58pm
Well, it took me a full three weeks to read through all 5,100ish posts from the beginning to the end! Someone sent me the original pdf a few months back and it was collecting dust for a few weeks until I had the drive to do some reading. I was very impressed with Phillip's enthusiasm to teach this wonderful system! I know many people have said this over and over again but I am going to add to the compliments one more time.

This is my very first strategy to read about the Forex market and with everyone contributions i'm sold that this system is going to work. It was amazing to see the growth and development of the system. Phillip had a great strategy of giving the basics and slowly implementing new ideas, i.e. the motion of the market, tsunami watch, flight planning, s&r line creation, moving average incorporation and much much more!

I would like to also put out my gratitude to all the other posters that made this thread flow, only to mention a few... Pips, Tam, Palmer, Jland, Kappa and Boredtowin, your endless contributions and suggestions made reading every thread worthwhile. Sorry if I left any others out, those are the only ones I can remember off the top of my head.

I guess its time for me to go fourth and start my backtesting frame by frame. By what I have read I guess it would be smart of me to start with one or two currency pairs and work from there to understand the breathing of the market. I am looking forward to being involved in the thread conversations, to all of you active posters, keep up the good work! Without Phillip and the rest of you, this great system would have never got up from the ground.

Until next time!

Luke
  • #5,146
  • Jun 16, 2007 6:54am Jun 16, 2007 6:54am
Hello everyone . i hope u are enjoying the weekend. i am back to the drawing board. lots to learn . i have a quick question. if the price bounces off the 89MA and there is a trend continuation signal especially on the 1 hour time frame, is it a good time to open a position. keeping in mind ofcourse everything else there is to consider. thanks for your answer.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,147
  • Jun 16, 2007 9:22am Jun 16, 2007 9:22am
I've been going through the threads on FF and I was dismayed to find rip-offs of Philip's 4hr MACD strategy. the so-called Cornflower strategy and the 50+- 4hr MACD strategy are clearly rip-offs of Phillip's strategy.Needless to say this p****ed me off no end!!I posted on these threads questioning their authenticity,but I honestly believe that these are people that are looking for recognition more than anything else.What do the other traders on this thread think of this ??!!!I'm not impressed. You don't claim something that isn't yours.Period!One of these strategies even use Phillip's 5;13;1 MACD settings!!While the othr recommends Phillip's MACD settings! What a rip-off! Phillip,out of his generosity, shared this strategy with us! It's unfair for others to accept accolades for it! if they wanted to add value to Phillip's strategy they would've added to the thread,not start their own.
  • #5,148
  • Jun 16, 2007 9:40am Jun 16, 2007 9:40am
Quoting Doji Star
I've been going through the threads on FF and I was dismayed to find rip-offs of Philip's 4hr MACD strategy. the so-called Cornflower strategy and the 50+- 4hr MACD strategy are clearly rip-offs of Phillip's strategy.Needless to say this p****ed me off no end!!I posted on these threads questioning their authenticity,but I honestly believe that these are people that are looking for recognition more than anything else.What do the other traders on this thread think of this ??!!!I'm not impressed. You don't claim something that isn't yours.Period!One of these strategies even use Phillip's 5;13;1 MACD settings!!While the othr recommends Phillip's MACD settings! What a rip-off! Phillip,out of his generosity, shared this strategy with us! It's unfair for others to accept accolades for it! if they wanted to add value to Phillip's strategy they would've added to the thread,not start their own.
I actually think that Lever, the originator of the Cornflower, is another genuine person. I do not think he/she is trying to rip off Phillips system or ideas, but has simply developed a system that has some similarities. I'd have to go back and look again, but I don't think her original documents had anything to do with MACD. However, as threads and systems develop, someone may have introduced it as further confirmation to the system.

Edit: Adding that the other threads mentioned I'm not familiar with, so I have no comment.
  • #5,149
  • Jun 16, 2007 9:43am Jun 16, 2007 9:43am
i hear what you're saying, but would you condone it if I change the 21MA TO 24 AND THE 89ma TO 72ma USING THE SAME PRINCIPLES JUST SUBSTITUTING IT FOR ANOTHER TIME CHART?iN THIS CASE 1HR.
  • #5,150
  • Jun 16, 2007 9:55am Jun 16, 2007 9:55am
Quoting Doji Star
i hear what you're saying, but would you condone it if I change the 21MA TO 24 AND THE 89ma TO 72ma USING THE SAME PRINCIPLES JUST SUBSTITUTING IT FOR ANOTHER TIME CHART?iN THIS CASE 1HR.
As a matter of fact, I would condone it. Trading styles and systems must be adapted to by the individual to fit their trading style. There are some similarities, but there are also enough differences in my eyes to see that these are two different systems. Lever70 is very knowledgeable about the markets, and seems to be experienced as well. Her ideas have come from that knowledge and experience and in no way do I think she is making an attempt at claiming Phillips ideas as her own. Even if she had, everyone has there own style and tweaks to systems to make them fit their trading style, sometimes those tweaks make the system better at least for some individuals. There is no sense getting worked up over it, if it works for her and the others that like that system, more power to them.
  • #5,151
  • Jun 16, 2007 9:56am Jun 16, 2007 9:56am
hndymann,

Be aware in your backtesting, if you base it on MACD signals alone you will be curve fitting. Many times a MACD entry signal will show up and then disappear due to price action. Though it is a good exercise to get a feel for the varasity of this system, you will become frustrated in the beginning of actual trading because you will just follow Entry signals blindly because your back testing said so. I would encourage you to backtest then spend time, paper trading to get a feel for market action, time of day, day of the week, and other factors that at first glance might not seem important. I would also encourage you to spend time learning trend lines, support - resistance and candlestick formations - still the core aspects of technical trading. Feel confidence with this system, it does work and most often the failures are operator errors. Spend time analyzing the failed trades. There usually was a indication before entry that implied the trade entry was too early. Quite often it is better to be late than early.

Happy Trading

SedonaPipper
I make money anywhere in the world by taking orders
  • #5,152
  • Jun 16, 2007 9:58am Jun 16, 2007 9:58am
Quoting Cope
As a matter of fact, I would condone it. Trading styles and systems must be adapted to by the individual to fit their trading style. There are some similarities, but there are also enough differences in my eyes to see that these are two different systems. Lever70 is very knowledgeable about the markets, and seems to be experienced as well. Her ideas have come from that knowledge and experience and in no way do I think she is making an attempt at claiming Phillips ideas as her own. Even if she had, everyone has there own style and tweaks to systems to make them fit their trading style, sometimes those tweaks make the system better at least for some individuals. There is no sense getting worked up over it, if it works for her and the others that like that system, more power to them.
Thank you for defending me publicly. Cornflower has nothing to do with MACD. It is an EMA retracement system, and EMA retracements can be found in many trading systems.
  • #5,153
  • Jun 16, 2007 10:06am Jun 16, 2007 10:06am
Quoting lever70
Thank you for defending me publicly. Cornflower has nothing to do with MACD. It is an EMA retracement system, and EMA retracements can be found in many trading systems.
I'm just very disappointed that this is even a discussion. People like you (Lever) and Phillip, that have no motive other than to help others, should not have to endure someones accusations. These threads and systems are shared in order to help people and then someone comes in and tries to dismantle that. It's frustrating to all of us, and I hope that this is the end of it. We all need to get back on the original track of the system and learning, rather than defending individual ideas. FF has always been a great community with incredible people that are willing to share what works and what doesn't, usually free from interruptions from the disgruntled and I'd like to see it stay that way.
  • #5,154
  • Jun 16, 2007 10:18am Jun 16, 2007 10:18am
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Attached File(s)
File Type: zip Normal retracement strategy.zip   846 KB | 3,870 downloads
  • #5,155
  • Jun 16, 2007 10:33am Jun 16, 2007 10:33am
Public Apology
Felicia and Cope,I apologise for my STUPID post. I was reprimanded in a gentle manner for my ignorance. I'm sorry for wasting your time and energy for even answering my post! I hope you'll allow me to add something of value to your thread,and I promise I won't post unless it DOES add value.As it turned out ,great minds think alike.You and Phillip stumbled upon something successful,something slightly similar,but unique.Philip,to his credit even made a 'get out of jail' posting for yours truly. I wish you both well, please forgive me and I hope you and Phillip and everyone else on this forum continue to share your expertise. Once again,I apologise for being so 'quick on the draw' ,probably cos I've been ripped off too many times in the past.
  • #5,156
  • Jun 16, 2007 11:00am Jun 16, 2007 11:00am
Quoting Doji Star
Public Apology
Felicia and Cope,I apologise for my STUPID post. I was reprimanded in a gentle manner for my ignorance. I'm sorry for wasting your time and energy for even answering my post! I hope you'll allow me to add something of value to your thread,and I promise I won't post unless it DOES add value.As it turned out ,great minds think alike.You and Phillip stumbled upon something successful,something slightly similar,but unique.Philip,to his credit even made a 'get out of jail' posting for yours truly. I wish you both well, please forgive me and I hope you and Phillip and everyone else on this forum continue to share your expertise. Once again,I apologise for being so 'quick on the draw' ,probably cos I've been ripped off too many times in the past.
I can certainly forgive, as it takes a good person to apologize. I'm just glad we can get back to what's really important, and that is learning and winning.
  • #5,157
  • Jun 16, 2007 11:03am Jun 16, 2007 11:03am
Quoting Phillip Nel
Info
Well done, Phillip. There could be many trading systems but people, remember, there is only one Phillip Nel.

Tx for all your support and assistance and I am not even talk about the time you've spent with us.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,158
  • Edited 11:44am Jun 16, 2007 11:42am | Edited 11:44am
Hello Dear Phillip, thank you very much for your excellent MP3. You are certainely right with the sharing ideas on this great FF. We are all here to help each other out. I really like your ways of thinking and positive attitude regarding any matter.

FF can only be very proud to have you on this forum and seeing days after days after days and your dedication to help people can only be praised.

Your very right, one can certainely complement your excellent strategy with the one of Lever70.

In my opinion, nothing is copy cat and everything is only different ways of seeing things for making a profitale trading life. Based on this principle, your right in saying that one need to see complementarity in differents methods.

My hat to everyone on FF who are really dedicated to help each others

Shreem
  • #5,159
  • Jun 16, 2007 12:11pm Jun 16, 2007 12:11pm
Hello Phillip ,
thankyou for answering my question about the bounce off 89 MA. after listening to your mp3 about the cornflower systm , my admiration for you has only increased. I wish u all the best.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,160
  • Jun 16, 2007 12:17pm Jun 16, 2007 12:17pm
Quoting shreem
Hello Ammar2000a70,

R:R means Risk to Reward Ratio. How much are you prepared to loose in order to profit on your trade. R:R 1 means you can risk 50 pips stop loss for 50 pips gains.

Hope it help

Have all a nice week-end

Shreem
Hi Shreem

Many thx .. Is that means the factors which calculate this ratio is how is the price is far from the resist/support or how its far from moving averages .. etc

good luck 4all
ammar
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