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4 Hour Strategy (MACD)

  • #7,481
  • Oct 16, 2007 11:27am Oct 16, 2007 11:27am
EUR$ and $Yen just chillin' on the 89....Maybe the Asian session will get things going...zzzzzzz
  • #7,482
  • Edited 11:34am Oct 16, 2007 11:33am | Edited 11:34am
Thank IRA, yes a long time. Was busy with work and different trading ideas but the 4H MACD of Phillip always there in my mind so I decided to come back to the thread and begin sharing with you all.

The dedication of Phillip and all others writing the scripts and Palmer with the website about the method just show that this is the best sharing and helping communitiy of forex traders that you can find.

Happy to be part of the family again

Will share my trade as they go by

Lost of posts to catch up

Sincerely

Shreem
  • #7,483
  • Oct 16, 2007 11:34am Oct 16, 2007 11:34am
Quoting ashrafnajo
Hi everybody,
I think there are certain settings for each Pair of currency, What is that settings?
The settings are the same or each currency...

ira: you're welcome!! Thanks for the comment...
  • #7,484
  • Oct 16, 2007 11:57am Oct 16, 2007 11:57am
For those who have difficulty understanding spoken English.
Attached Image
Attached File(s)
File Type: doc Phillip Nel Landing the Profit.doc   7 KB | 1,626 downloads
  • #7,485
  • Oct 16, 2007 1:48pm Oct 16, 2007 1:48pm
I just wanted to thank Phillip for posting this system. I have been trading a little over 7 years and doing the 3min charts and doing 5-7 trades a day and hated it. I hated it so bad I went and got a job, not for the money but because I hated having to watch each bar and just sit there. This system is very easy to follow and make very good money. The only reason I see anyone fail on this system is they do one of 2 things. They rush the trade, or they change the way they trade. People this system does work, it's super easy and no guessing. If you cant make money trading this the problem is yourself.
Keep taking CT trades, I need more money
  • #7,486
  • Oct 16, 2007 5:09pm Oct 16, 2007 5:09pm
Quoting JimTatum
I have a question on the rt trade that Phillip posted this morning. I thought a round top needed to have a red bar form on the 4hr macd. My chart shows the red bar but when that 4hr bar closed the move was allready over. Thanks for your help.

Jimtatum: I'm thinking that the reason you didn't see the move is simply because your server time is different from Phillip's. I believe he is GMT + 2. Different server times will cause MACD bars to form and close at different times. This all evens out because you will have formations that occur before someone else at times as well.

Ryanmcd: It's good stuff isn't it? Almost relaxing to see how things develop. And yes, rushing the trade is tempting but more often than (or then?) not it ends up biting you in the rear...

For some reason the blog was giving me a "rebooting server error". Once again , the blog is from a free service and you get what you pay for. Either way, it seems to be up again. And the EUR$ and $Yen look like they are trying to bounce back up to the upside....

I hope that the .pdf files on the website for the 4hr and 1hr charts has been a help. I'll reload these at the end of the year so there is a full trading year of both timeframes.

Trade well...
  • #7,487
  • Oct 16, 2007 5:37pm Oct 16, 2007 5:37pm
I´m learning and enter a buy at EU in this new 4H candle, looking to a small RB at macd and some supports.

It was a bad one?
Thanks all good friends.

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  • #7,488
  • Oct 16, 2007 7:06pm Oct 16, 2007 7:06pm
Numeral:

Hmmm, that's a tough one. I had a formation as well but the close was right at about the 21 EMA so there was no real profit target defined there. The three lower moving averages are converging right now so it's kind of hard to see through it all. The $Yen made a V bottom, long candles both ways, and I try to stay away from those as well. You can see what would have happened. Either way, the EUR$ looks like it's trying to move up but it's having a hard time getting away from the 89..
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  • #7,489
  • Oct 17, 2007 1:17am Oct 17, 2007 1:17am
EurUsd.


08:00 Price is in triangle. See 1H and lower timeframe. Between 89 and 21 on 4H. Possible breakout. Direction of breakout not very clear.




GbpUsd.

08:00 Will wait for further clarity
  • #7,490
  • Oct 17, 2007 4:50am Oct 17, 2007 4:50am
EurUsd.


08:00 Price is in triangle. See 1H and lower timeframe. Triangle between 89 and 21 on 4H. Possible breakout. Direction of breakout not very clear.


12:00 Breakout came both ways. To uncertain




GbpUsd.


08:00 Will wait for further clarity

12:00 Current MACD shows nice RB. 08:00-12:00 Candle tails will make we wait however.
  • #7,491
  • Oct 17, 2007 9:23am Oct 17, 2007 9:23am
Yen and Eur in 'patience mode'...been scalping a few here and there on the 5min...that's about it.
  • #7,492
  • Edited 11:29am Oct 17, 2007 9:59am | Edited 11:29am
TP is as planned when trade was opened. The action column contains the actual management of each trade with notes etc!!! Times are GMT+2

Most of these trades were given live to the thread. Unfortunatly e-mail and server delays have made some of them arrived late. Thanks for Fari who put it on FF under the name PhilOpinion.
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  • #7,493
  • Oct 17, 2007 10:08am Oct 17, 2007 10:08am
I entered a long position @ 2.0367 to take profit @ 2.0400. Price closed above 89 with a confirmation from MACD. I hope my analysis is correct and I was not to fast to enter.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #7,494
  • Oct 17, 2007 10:11am Oct 17, 2007 10:11am
Are the macd settings for the 1hr the same as the 4hr? 5 ,13,1
  • #7,495
  • Oct 17, 2007 10:17am Oct 17, 2007 10:17am
That's beautiful Phillip! It really shows what can be done with your method. It, once again, makes me want to trade around that 08:00 time. I suppose that is still GMT + 2, which would be 12:00 A.M. for me, and my 4Hr bars change at 10:00 P.M. and 2:00 A.M., and I get up and start my day at 4:30 A.M. I know Palmer, Pips, and others have managed to work out ways to trade during that period, but I think I still have to work on discipline in other areas before I try to master the discipline of sleep! I wouldn't be worth anything at those times, and I would be in a terrible hurry to get the trade over with! Thanks for the example and encouragement!
  • #7,496
  • Oct 17, 2007 10:33am Oct 17, 2007 10:33am
I am new to this forum and I trying to learn this 4 hour strategy sys. I use Accucharts but I was unable to get my macd setting to take the 5,13,1. When I do that all the bars disappear on my macd and I get a very weird looking macd. Actually it looks more like a rsi than a macd.
  • #7,497
  • Oct 17, 2007 11:03am Oct 17, 2007 11:03am
Dear Phil followers...

Just a simple question, which I hope can be answerd simply too.

Is it enough if I read the PDF which I'm beeing pointed to in Post #1, to
learn the actual system you are using? Or are important things burried within the +7000 posts?

Reason for my question:
I did a quick and dirty backtest watching MACD Round Top/Bottom and I was impressed with the results I got. So I'd like to studie more of your methods..

Thank you for your time
  • #7,498
  • Oct 17, 2007 11:24am Oct 17, 2007 11:24am
Quoting colbru
Dear Phil followers...

Just a simple question, which I hope can be answerd simply too.

Is it enough if I read the PDF which I'm beeing pointed to in Post #1, to
learn the actual system you are using? Or are important things burried within the +7000 posts?

Reason for my question:
I did a quick and dirty backtest watching MACD Round Top/Bottom and I was impressed with the results I got. So I'd like to studie more of your methods..

Thank you for your time
Welcome

This system is easy when you understand it and trade it according to what is teached. To get to that point you will have to work hard and go through the whole thread. Make notes of the post you want to go back to again. The summary of the system is found from page 289 from post 4335 there are 13 Lessons. Study the Market rhythm lessons by heart.
Phillip
  • #7,499
  • Oct 17, 2007 11:33am Oct 17, 2007 11:33am
Quoting JimTatum
Are the macd settings for the 1hr the same as the 4hr? 5 ,13,1
Jim

You can use 8,13,1. It makes the movement just a little more smooth but 5,13,1 will also works

Phillip

500Pages and 7500 posts!!!!!!!!!!! Thanks to all who has participate
  • #7,500
  • Oct 17, 2007 11:52am Oct 17, 2007 11:52am
Quoting Saffw
I am new to this forum and I trying to learn this 4 hour strategy sys. I use Accucharts but I was unable to get my macd setting to take the 5,13,1. When I do that all the bars disappear on my macd and I get a very weird looking macd. Actually it looks more like a rsi than a macd.

There is also a website for the method to make things easier to find...
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