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4 Hour Strategy (MACD)

  • #8,101
  • Nov 5, 2007 1:50pm Nov 5, 2007 1:50pm
Quoting pips4uandme
One last post for the day -- and it is a "non-trading" post...

Treasure everyday and try to be nice to as many people as possible -- you never know how your actions could influence others. Life is shorter than we may expect and we should enjoy our time here. Be happy, smile, laugh, love and prosper.

Now...Back to business

Talk to you guys later,
Pips
Amen to that , Donna
  • #8,102
  • Nov 5, 2007 2:05pm Nov 5, 2007 2:05pm
Here is the written copy of "knowing the system" mp3 for those who have problems in understanding the spoken English.

Pips, thank you very much for the answer, as usuall intersting and helpful.
Let's have many pips this week people!
Attached File(s)
File Type: doc Knowing the system.doc   25 KB | 2,187 downloads
  • #8,103
  • Nov 5, 2007 3:18pm Nov 5, 2007 3:18pm
Quoting pips4uandme
One last post for the day -- and it is a "non-trading" post...

Treasure everyday and try to be nice to as many people as possible -- you never know how your actions could influence others. Life is shorter than we may expect and we should enjoy our time here. Be happy, smile, laugh, love and prosper.

Now...Back to business

Talk to you guys later,
Pips

Pips, I try, I really do and I think I do a pretty good job at it. I'm the most laid back person that you or anyone else would meet. But, every once in a while....'Serenity NOW!!!!!!'
  • #8,104
  • Nov 5, 2007 3:23pm Nov 5, 2007 3:23pm
Quoting PhilsOpinion
EurUsd
Hope you people took the aggressive turnaround as the market has found
resistance together with a rising wedge.

Entry 1.4494
SL 1.4532
1st TP at 21EMA
Let 2nd TP run with stoploss set to just above 8EMA for possible
breakout of wedge to the downside. If breakout occur set stop to
in-between 8 and 21 EMA

Phil:

I took note of that also but that Rt candle was the opening Sunday candle for me so I passed. Just watching right now. If you got in, for God's sake please don't post the chart after the fact man! Nice entry either way.
  • #8,105
  • Nov 5, 2007 3:29pm Nov 5, 2007 3:29pm
Quoting HenWisdom
hi everyone,

i've downloaded and read through all the materials that i can get from the wesite and have been studying them from last month. One question occur to me tough, hope u can help me. As you can see from the chart that i've posted, we can see that the bar is closing in to 89 sma.

1. it can make a turn around and return to 21 ema
2. it can go through 89 and start to go down.

my question is, when do i get in the trade? do i wait until round bottom for no.1, wait until it go throughly 89 sma then i enter?

How should i think in this kind of situation, what should i wait?
please help, this question has nagging me for weeks.
This may have been answered, kind of 'lost' right now...

You must let the charts tell you. Don't rush an entry because the market is running or you think you missed the big move. There will be another opportunity just down the road. Patience is critical, especially on the 4hr time frame. If price is heading towards the 89 and settles there....what's the trend? Above the 89 = bull, below the 89 bear. If price is ranging at the 89 then you must look at the other moving averages as profit targets, but then you are trading a ranging market. Phillip just posted and excellend tutorial on trading the range. Again, just wait and watch...
  • #8,106
  • Nov 5, 2007 3:50pm Nov 5, 2007 3:50pm
Quoting shauny
hey ipip,

speed of the market basically refers to the momentum the market is traveling. In this system, we have mainly 8,21,89 MAs. Each of them is a speedgear of the market. Look at your charts for EU, you will realized price has been traveling on 8ema(fastest of all gears), and recently touched down on the 21ema(medium gear), showing a slow down of speed, however we are still in a uptrend. Right now, the EU has not touched the 89sma which will be the slowest gear.. The speed of the market allows us to anticipate the momentum the pair is moving. When we see the EU starts to touched the 21ema, we know the speed is slowing down and we will be watching the next time round it touches 21ema, because it might form a TC and continue upwards. It gives you a perspective how fast is the pair moving and how are you going to negotiate the speed, by taking it from the 8 or 21.
shauny: Nice reply. Yes, the price has been 'Gleaming the Cube' lately on the E$...

ipip: No such thing as a stupid question, ask away. Let the 4hr charts come into view first, worry about the 1hr later. Yes, lots of people posting trades can make some feel lost. I'm holding back on that as well. Pips has stated in the past that posting trades can influence other's mindset. I haven't posted a trade to the blog in a while either. That may just fade out. So, think about your own trading plan, your charts, and what YOU see. Even though it's the most precious commodity, there's plenty of time to let it all soak in.

Me shower now...
  • #8,107
  • Nov 5, 2007 4:08pm Nov 5, 2007 4:08pm
EUR GPB Longs may be in the works. Off to the gym will check back later. Still short on USDCHF.
Keep taking CT trades, I need more money
  • #8,108
  • Nov 5, 2007 4:32pm Nov 5, 2007 4:32pm
Hey Guys and Gals, i wont be contributing this week due to other obligations. will be back next week. I see there is a A lot to go through on the thread.
Phillip must be proud of his students how patiently they tried to knock some sense into one annnoying person . Just goes to show that Phillip' system is helping us learn Forex and his personality is helping us become better people. He leads by example. Anyways, Good luck trading guys. May my share of pips be yours as well this week. But i will be back next week, Ok gottta do some study here. Thanks .
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,109
  • Nov 5, 2007 7:02pm Nov 5, 2007 7:02pm
Long - EURUSD 1.4478 stop 1.4436
Long - GBPUSD 2.0830 stop 2.7774

May get burned here if it turns, but the 6-8 other longs have worked out fine so have to go with it
Keep taking CT trades, I need more money
  • #8,110
  • Nov 5, 2007 8:25pm Nov 5, 2007 8:25pm
Quoting Ryanmcd
Long - EURUSD 1.4478 stop 1.4436
Long - GBPUSD 2.0830 stop 2.7774

May get burned here if it turns, but the 6-8 other longs have worked out fine so have to go with it
Hi Ryan,

What were the reasons for the long eur trade? So I can learn from your thoughts???

Thanks
  • #8,111
  • Nov 5, 2007 9:41pm Nov 5, 2007 9:41pm
Quoting JimDandy
I keep telling my self to be patient and let see if it will work out. I took a short in the usdchf after tweezer tops and nice bearish candle away from the 8ema and of course.......a tc on the macd. but as you can see the tc was a one bar event. However i got a nice bounce off of the daily pivot. I am short two minis from 1.1517. Stop at 1.1557 tp at 1.4770........am about to adjust stop and limit for better r:r any suggestions........also i have a nice bounce off of the 21ema on the 1hr...............dont just watch! Jump in an help me!LOL.........no worries........pipip Jimdandy........
Wow Jim, I don't follow the USDCHF often (and I was away from the market all day (Monday)) so I am just catching up.

I can see how the trade set-up pretty nicely for you on the MACD signal coming off the tweezer top, but it looks like the market just consoladated after this signal. Certainly looks like things are going to break out of that triangle on the 4 hour chart soon, but when looking at the daily I wonder if the short is running out of steam.

Tough call, keep us posted.
  • #8,112
  • Nov 6, 2007 12:38am Nov 6, 2007 12:38am
  •  iPip
  • | Joined Nov 2007 | Status: Listen to the rhythm of the market | 5 Posts
Quoting Palmer
shauny: Nice reply. Yes, the price has been 'Gleaming the Cube' lately on the E$...
Thanks Shauny and Palmer for your replys.
I can't help but feeling that I am missing something or have not grasped a principle. I understand the 8,21 and 89 are indicators of the past 8,21 and 89 periods. (I want to come to grips only with the 4 hr first, then I'll look at the 1 hr and 5 mins at a future time.)

I still don't understand the speed?

Am I right that the motion is the general movement : up and down. And that motion gives the moves up and down about the 8, 21 and 89, which then gives us a rhythm

Is emotion "how" the motion moves about the MA's which is a component of rhythm. Above the 89, general bullish emotion and below, general bearish emotion. Likewise for the 8EMA but more current, immediate emotion?

Does speed have anything to do with how quickly the market moves up or down to the 21EMA.

I can watch a 5 min TF and I see that every 5 mins, the prices continually coming down, is this a speed indication because it happens in a 5 min TF

I can watch a 5 min TF and within the 5 mins prices bounce up and down with large/long candles - when looking back up to a 4hr TF the 21 could have been touched and then its back up again to the 8EMA. Is this a speed indication within a 4 hr candle?

Like I said I can't help but feeling I'm missing the point - or some fundamental revelation?

Sorry for the long post but I also want to say to ziko123 to f...........f. I think this thread is phenomenal, to Phillip and to all the others who give their time freely. I'm struggling to keep up with the speed! that the posts are coming without having to work my way through some disruptive, discontented, disgruntled, misinformed, misguided individual. Phillip - you rock!
  • #8,113
  • Edited 5:34am Nov 6, 2007 1:44am | Edited 5:34am
this is my first live papertrade. due to some kind of a psychological barrier i hesitate to open a position on the real account. and that is why i have decided to keep track of my results this way.

eurusd
entry: 4505
stop: 4485
profit: 4545
*BE after 15 pips

RESULT: + 40 points
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #8,114
  • Nov 6, 2007 1:45am Nov 6, 2007 1:45am

EurUsd


04:00 Was still asleep



07:00 Woke up enter at 1.4480. Support on 21EMA with small candles. Risk low. Triangle forming. Positioning for a breakout to the top. Will monitor move every hour and close if it goes below bott supp line.


08:00 Price has reached 1.4498 (almost 1.4500) I have moved SL to 1.4465. As this is a mini breakout of triangle I will closely watch a retrace back to breakoutlevel.


09:00 1.4514 was reached. Close position 100% as I expect(anticipate-only my feeling) a D/Top on price and previous closeby high(±1.4520) was almost reached.


PS:
a guy stated that Phil did not post any live trades; well look for all posts of this accout, it is JUST for calling live trades. If the came a little bit later, it is because of technical Problems or just, because Phil or I were too busy to post them earlier.

And as Phil stated, this posts are not too tell you when or what to trade, but just to show how Phil comments the market.

Nor further comment.

sorry for the spam.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 34 KB
  • #8,115
  • Nov 6, 2007 3:13am Nov 6, 2007 3:13am
EurUsd
04:00 Was still asleep
07:00 Woke up enter at 1.4480. Support on 21EMA with small candles. Risk low. Triangle forming. Positioning for a breakout to the top. Will monitor move every hour and close if it goes below bott supp line.
08:00 Price has reached 1.4498 (almost 1.4500) I have moved SL to 1.4465. As this is a mini breakout of triangle I will closely watch a retrace back to breakoutlevel.
09:00 1.4514 was reached. Close position 100% as I expect(anticipate-only my feeling) a D/Top on price and previous closeby high(±1.4520) was almost reached.
The speed of the market has been twice below the 21EMA so the speed might be slowing down that is part of the reason for taking full close on position.

NB: When a rising wedge break to the upside the move is most of the time quick and huge. I will have a close look at this scenario as well. I anticipate a RT-AT on a price DT and then I will enter with the plan to be in a downmove to the 89 over the next week or so. It is a matter of positioning for that possibility and will minimise losses as quick as possible.

10:00 Price has reached previous closeby high. Time will tell if position was closed to early and if price is going to turn around.
12:00 I might have closed to early but I stayed with my plan. The next candle will be interesting to see if it shows a testing of upper RL or a weakening for a possible RT-AT
  • #8,116
  • Nov 6, 2007 3:33am Nov 6, 2007 3:33am
[quote=ira;1700102]Here is the written copy of "knowing the system" mp3 for those who have problems in understanding the spoken English.
quote]

I really thank those guys who compile Philip's MP3, this is very good for me.
I have seen some quarrels here, just like what happens at unprofessional Chinese forex forum.

I have started really trade at 18th Oct. Up to now, all the trades with EUR/USD have taken profit as 4h's plan. 3 damn bad trades I made is NZD/USD, USD/JPY and AUD/USD, which cost 100 pips. Even though, I still obtain 120 pips just by EUR/USD. Great system.

The three bad trades have same situation. There was a ZB signal and form a sHs or downside triangle with a resistance line down there, if ZB successed, there would be a break happan, but it failed. The price bounced from the resistance line and touch my SL.

USD is so weak that we had better not take conter trade. And what's more important is, trade with other pairs is more risk than EUR/USD, which can still give you high profit if you only trade with.

Do not lose is the key to success with 4h system, I think.
Plan your trades and trade your plans
  • #8,117
  • Nov 6, 2007 3:41am Nov 6, 2007 3:41am
Please could you add me to the 4 hour skype chat

Skype name= eamon.draper

Thanks,

Mister ED
  • #8,118
  • Nov 6, 2007 4:02am Nov 6, 2007 4:02am
thank u for all you who have helped me, i think i understand what you are trying to say. i think that i have to be patient to wait for a turnaround to 8/21 or tc http://www.forexfactory.com/images/icons/icon7.gif.

what is rising wedge by the way? i only know of doji, hammer. where can i get the info for this?

i entered usd/jpy 114.20 yesterday, and a few minutes after that, it went up http://www.forexfactory.com/images/icons/icon8.gif. but i realised that is fully my mistake for entering the trade in such a rush.

thanks
  • #8,119
  • Nov 6, 2007 4:16am Nov 6, 2007 4:16am
Quoting iPip
Thanks Shauny and Palmer for your replys.
I can't help but feeling that I am missing something or have not grasped a principle. I understand the 8,21 and 89 are indicators of the past 8,21 and 89 periods. (I want to come to grips only with the 4 hr first, then I'll look at the 1 hr and 5 mins at a future time.)

I still don't understand the speed?

Am I right that the motion is the general movement : up and down. And that motion gives the moves up and down about the 8, 21 and 89, which then gives us a rhythm

Is emotion "how" the motion moves about the MA's which is a component of rhythm. Above the 89, general bullish emotion and below, general bearish emotion. Likewise for the 8EMA but more current, immediate emotion?

Does speed have anything to do with how quickly the market moves up or down to the 21EMA.

I can watch a 5 min TF and I see that every 5 mins, the prices continually coming down, is this a speed indication because it happens in a 5 min TF

I can watch a 5 min TF and within the 5 mins prices bounce up and down with large/long candles - when looking back up to a 4hr TF the 21 could have been touched and then its back up again to the 8EMA. Is this a speed indication within a 4 hr candle?

Like I said I can't help but feeling I'm missing the point - or some fundamental revelation?

Sorry for the long post but I also want to say to ziko123 to f...........f. I think this thread is phenomenal, to Phillip and to all the others who give their time freely. I'm struggling to keep up with the speed! that the posts are coming without having to work my way through some disruptive, discontented, disgruntled, misinformed, misguided individual. Phillip - you rock!
ipip:

The term 'speed' has only been talked about recently. But, in general, and this is the way I see it, when the price is hugging the 8ema and rarely gets below/above it, even to the 21, the speed of the market can be referred to as 'fast'. I think that's it period.

As far as the motion and the rhythm of the market go, this is the overall picture of the trend and how price is reacting to the moving averages, resistance levels, trendlines, etc. It's more or less how the market (the pair you are following) is breathing over time. The 4hr motion/rhythm is the big picture of the method.

saka: Hello my friend from across the sea! Hope you have been doing well. I was on the verge of sending you a PM but here you are. Hope the dictations have been helping out and that it's all falling into place for you well.

pips: I like it when I make the girlies giggle

That 4hr bounce took a little time to get going per the 1hr, or there was a TC on the 4hr as well last night. But if you're in...cha-ching! I'm slammed at work until I get home so I'll check things out tis evening. Till then...I'll just inch my stops up a little more....
  • #8,120
  • Nov 6, 2007 4:42am Nov 6, 2007 4:42am
USDCHF Out + 72 @ 1.1451
USDEUR Out of a few @ +70

Putting the EUR and GBP @ Cost.
Keep taking CT trades, I need more money
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