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4 Hour Strategy (MACD)

  • #7,501
  • Oct 17, 2007 1:01pm Oct 17, 2007 1:01pm
Thank to you Phillip to have start this thread and great method. All the congratulations should go to You for your great dedication, to Palmer for the great website, to IRA Bill, Pips4youandme, Tamka, Alcastro, Old and all others that I do not remember for helping to make the transcripts.

This system is really incredible and when one get to understand the relation between signal of MACD, price in relation to the different MA, the rythm and the motion of the market and a strick money management coupled with patience, hard work, discipline and focus, one can only become successful.

Make a little nice long trade yesterday on the yen for very few pips but right according to the setup.

A very big thank to Phillip and all

Sincerely

Shreem
  • #7,502
  • Oct 17, 2007 1:02pm Oct 17, 2007 1:02pm
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.
Saffw, I recommend the website Palmer mentioned for helping you get started in learning the 4Hr MACD system. In addition, here's an example of what a wealth of information is in the previous posts on this thread!

Go to page 369, and look at posts 5529 by nmpeters and 5531 by Shreem. They both give advice on how to set your MACD with Accucharts.
  • #7,503
  • Edited 1:07pm Oct 17, 2007 1:06pm | Edited 1:07pm
Hello Saffy, you can setup the MACD 5-13-1 in Accuchart. When you plot the 5-13-1 setup, just go to option in chart to modify MACD. When you are in it, you see the first rectangle in the top right is MACD, on the right side, change the style by clicking histogram instead of line or curve.

Then you will get the same setup. The only difference with the MT4 one is that the histogram will be all the same color but that is not a problem.

If you cannot do it, please PM me and I will try to help as much as I can as I also use it.

Thank OldDog for the reply. You are most fast than me
Sincerely

Shreem
  • #7,504
  • Oct 17, 2007 1:12pm Oct 17, 2007 1:12pm
[quote=shreem;1651438]Thank to you Phillip to have start this thread and great method. All the congratulations should go to You for your great dedication, to Palmer for the great website, to IRA Bill, Pips4youandme, Tamka, Alcastro, Old and all others that I do not remember for helping to make the transcripts.

Shreem, let me add my welcome back to all the others! Incidentally, the first transcript that you did of Phillip's "Learn by Heart" mp3 got me starting to think about copying, and, as you said at the time, it helps me to get what he is saying into my head.
  • #7,505
  • Edited 10:06pm Oct 17, 2007 2:24pm | Edited 10:06pm
Almost all pairs are forming triangles or moving in a tight range this is my first time in such a situation and I would like hear more avanced traders' opinion.
Thanks in advance.
P.S:Welcome back shreem.
  • #7,506
  • Oct 17, 2007 4:28pm Oct 17, 2007 4:28pm
mkain:

I only follow the EUR$ and $Yen but this may be one of those weeks where there simply may be no entry signal. The EUR$ gave a weak Rb but there was no clear profit target because the three lower ma's were really tight. The MACD for the $Yen just isn't happening either. I may just try to scalp a few here and there for the rest of the week....or tomorrow and up until noon on Friday. Sooooo, there may be no 'action' at all.

'Patience young Skywalker.....'
Attached Image
  • #7,507
  • Oct 17, 2007 5:17pm Oct 17, 2007 5:17pm
The daily EUR$...stuck....
Attached Image
  • #7,508
  • Oct 17, 2007 10:41pm Oct 17, 2007 10:41pm
Hi,
Please evaluate my trade. I do not know how to attach a chart so I ill just explain my trade.

On the 8:00 et candle it came back to 21. Then macd showed a tc pattern so after the 1600et candle closed I entered at the close of that candle at 1.4204 (long)my profit target was the prev high candles of 1.4238
sl set a little below the 21 at around 1.4269

Thanks for your thoughts.

Jim
  • #7,509
  • Oct 17, 2007 11:10pm Oct 17, 2007 11:10pm
Price has not yet break out of consolidation. See 1H chart to draw that consolidation better.

The anticipation is upwards as we are above 89 and we had move away from 21. For those that toke the long of 21ema with TC just watch that top Res line. Get to BE as soon as turnaround starts to happen.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 25 KB
  • #7,510
  • Oct 18, 2007 5:48am Oct 18, 2007 5:48am
I was so focused on trying to scalp a few on the lower timeframes I didn't even see the trend developing on the 4hr...tunnel vision.

Insert mad pirate sound here...aaaarrrrrrrr....
  • #7,511
  • Oct 18, 2007 6:29am Oct 18, 2007 6:29am
pls, can you quickly explain how to recognise aggressive turn-around.


thanks
  • #7,512
  • Oct 18, 2007 7:10am Oct 18, 2007 7:10am
Info
Attached File(s)
File Type: zip Breakout.zip   667 KB | 3,010 downloads
File Type: pdf Breakout trading.pdf   51 KB | 3,290 downloads
  • #7,513
  • Oct 18, 2007 7:50am Oct 18, 2007 7:50am
Hi Phil, ty for sharing ur system, are u still over 300 pips/ month for 2007 ?
  • #7,514
  • Oct 18, 2007 8:15am Oct 18, 2007 8:15am
Info
Attached File(s)
File Type: pdf TC EurUsd Backtesting.pdf   250 KB | 2,526 downloads
File Type: zip TC EurUsd Backtesting.zip   736 KB | 2,244 downloads
  • #7,515
  • Oct 18, 2007 8:19am Oct 18, 2007 8:19am
Quoting Mike59
Hi Phil, ty for sharing ur system, are u still over 300 pips/ month for 2007 ?
Trades for October. 80% was done live on the thread and or skype. Look at the TC EurUsd Backtesting (Post 7515) and see if it is obtainable or not.
Phillip
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 12 KB
  • #7,516
  • Oct 18, 2007 10:04am Oct 18, 2007 10:04am
I have been test driving the system for a few weeks now and really like everything about it - many thanks Phillip ( Bakgat man!) I saw some mention of a skype forum and was wondewring how one could participate in that. I trade +-6 hrs full time and have access to my computer to check most of the 4 hour time intervals
Daniel
  • #7,517
  • Oct 18, 2007 11:25am Oct 18, 2007 11:25am
Quoting Phillip Nel
Trades for October. 80% was done live on the thread and or skype. Look at the TC EurUsd Backtesting (Post 7515) and see if it is obtainable or not.
Phillip
Hi Phillip

Congratulations on the ongoing success of the thread. I have come back to it after being away for a while and was looking at the figures that you gave for October. I cannot match some of the trades to my charts and so have a few questions.

What server do you use for your MT4 data?
When you post the results, which is very helpful, could you add a note to give an idea of what signal has triggered these trades?
Are you still sticking to mainly trading on the close of the 8,12 and 16:00 candles?
Have you continued with the daily test that you tried some time back?

The more that I look at other systems the more I come back to your idea of looking carefully at price action as the best way to position a trade.

All the best,

Mister ED
  • #7,518
  • Oct 18, 2007 11:34am Oct 18, 2007 11:34am
For those with difficulty understanding spoken English. Refer to post 7513 for the PDF chart.
Attached File(s)
File Type: doc Phillip Nel- Breakout Trading 18 Oct2007.doc   6 KB | 1,572 downloads
  • #7,519
  • Oct 18, 2007 12:03pm Oct 18, 2007 12:03pm
I've had some success with taking AUDUSD long yesterday and today. I feel that it is on its way back up, but its long lower shadows on the candles create some problems for the entry.

This was my four hour chart somewhere around thirty minutes before my candle's close at 16:00 GMT. My plan was to enter if there was a close back above the 89 and the 21. You can see that, at the time of this chart, it had pulled back below both of them. They were virtually the same, in the .8930 region. I entered on the close at .8944. My hard stop was at .8890, fifty-six pips, but my plan was to cut my losses if price went back below the two MA's and hung there. I'm unable to do partials on my live account, so I had two soft profit targets in mind. The first possibility was in the region of the most recent significant high of .8973 and the second was below the round figure of .9000. However, I moved my stop up for twenty pips profit, when price reached .8970 region because of those long tails Aussie is liking these days and was stopped out at .8964.
Attached Image
  • #7,520
  • Oct 18, 2007 1:15pm Oct 18, 2007 1:15pm
Quoting Mister ED
Hi Phillip

Congratulations on the ongoing success of the thread. I have come back to it after being away for a while and was looking at the figures that you gave for October. I cannot match some of the trades to my charts and so have a few questions.

What server do you use for your MT4 data?
When you post the results, which is very helpful, could you add a note to give an idea of what signal has triggered these trades?
Are you still sticking to mainly trading on the close of the 8,12 and 16:00 candles?
Have you continued with the daily test that you tried some time back?

The more that I look at other systems the more I come back to your idea of looking carefully at price action as the best way to position a trade.

All the best,

Mister ED
My time is GMT+1 at the moment.

I could not trade 8-12 and 16:00 candles before due to working and not having internet at work but now I can therefore I can give better analyses and trading results

Daily testing has stoploss to big and emotions to erratic.

Do backtesting and see if it suits your style.
Attached File(s)
File Type: pdf Trades for October.pdf   180 KB | 1,848 downloads
File Type: zip Trades.zip   496 KB | 1,916 downloads
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