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4 Hour Strategy (MACD)

  • #5,301
  • Jun 21, 2007 11:58am Jun 21, 2007 11:58am
Quoting Phillip Nel
I was looking at that setup and the 1Hour gave a perfect early entry. When the going is good one tends to waver ones rules. Happens to everybody. Me included. Then it is back to backtesting just to get the feeling of the rules again. Thanks for sharing this with us.
Hi Phillip,

Thanks for the post...Figured I have to share the good, the bad and the ugly . I saw the perfect early entry on 1 hour after I was stopped -- even considered trading it. Then, I thought, I'm not sane right now....LOL! Shut off the computer, took my loss and laughed at my stupidity and impatience. You are so right about getting the feeling for the rules again!!!

I also realized that I pull this same exact stunt a few times a year (usually in the spring and summer at 3 - 4 month intervals! It made me look inside myself for an answer to why...and I found that I do it when I need a break from trading and want to be lazy for a bit. Next time, I will recognize this and just be lazy and go have some fun w/friends and family. That's what is the neatest thing about trading -- it makes us discover truths within ourselves.

Thanks again for all you do! You amaze me!!!! I wish you all the best life has to offer. Talk to you Monday....

Pips
  • #5,302
  • Edited 12:16pm Jun 21, 2007 12:02pm | Edited 12:16pm
Quoting Palmer
OK, I give up. My guess is that Phillip hasn't cleaned up up his room either with all of the continued work, time, and effort that he is dedicating to this thread, incredible. Thanks again boss.




"Let the market come to you young Skywalker....." Did Obi Wan say that or was it Phillip....Hmmmm, I wonder if they are the same person. That's it, that's gotta be it! Phillip is Obi Wan Kenobi..it all makes sense now.....
Palmer! Where on this earth do you come up w/this stuff??? ...Yes, that's me on the floor again!!!!

Nice Z.....and who is trading in parachute pants...stuck in the 80/s? hmmmmm...(Ok...it is me...I still drive my first "new" car....an 87 MR2....I love it...)...

& I think Phillip may be a hybrid....Yoda & Obi....wise and feeling!!! (Phillip, hope you don't mind being grouped in w/pop icon figures!)

Have a good weekend
  • #5,303
  • Jun 21, 2007 12:08pm Jun 21, 2007 12:08pm
Quoting BIL2205
Hello , any one looking at GBP.
Possible trend continuation on one hour off of 21MA. ( my candle closes in 30min).price is still above 89 MA.
On 4 hour ( still a 3.5 of hours away for my candle close). but price is sitting on 8MA above 21 and 89. MA.

i dont want to trade out of frustration . but looking at one hour for a possible early entry.All comments are welcome.
P.S.
I have a question please. if macd forms a round bottom and the next bar breaks the zero , is that considered a trend continuation. this is strictly question for macd signals . thanks
Hi Bil2205....

You'r trading out of frustration and boredom right now....(at least by my charts)...4 hour says short....1 hour hasn't given directional signal....marginal random crosses at low levels...back and forth...the market has no momentum...don't trade long yet....

Just my opinion....but I think you'll just get stuck paying rollover interest until London comes on line...

Wanna go on a hike w/me & just be lazy?

Best,
Pips
  • #5,304
  • Jun 21, 2007 12:10pm Jun 21, 2007 12:10pm
O'Zeeke!

You make me smile ....good job on the +4 this week!! That was awesome!!!

Love the Tito strategy!!

Pips
  • #5,305
  • Jun 21, 2007 12:14pm Jun 21, 2007 12:14pm
Quoting Richard7
OK, this is a little off subject but it's starting to bug me. I'm in the process of reading through the thread, having read about 1/5 of it so far, so if this has been addressed already please forgive me.

I use Interbank FX and have noticed that my charts often look different than some others that are posted including Phillip's. This is apparently largely the result of brokers having differing opening and closing times. I like MT4 so I've downloaded a demo version of MIG and it looks like it matches up with Phillip's. I understand that once I have this method down pretty good this shouldn't be a problem, but for now it's a hassle trying to learn what's going on when our charts don't match.

Has this been an issue for any one else, and if so, how did you all deal with it? I've noticed that even the 5M charts don't match. I figured that any charts less than an hour wouldn't be affected, but that's not the case. If anybody has any thoughts on this, I would appreciate it. It could get confusing looking at different data feeds. I've posted the two differerent 4H G/U charts and highlighted a small section. As you can see, the candle patterns are quite different from one another.

So, I guess the question is, should I forget about this and just use my IBFX charts, or should I try to match the charts that Phillip posts?

Once again, if this been dealt with, I apologize, and if it has, please direct me to the post(s) that deal with this.


Thanks,
Richard
Hi Richard,

Yes, this issue comes up quite a bit. Follow your signal from the feed you trade off of. Our signals may all be different, but in the long run they average out. Read your own candles and market levels....follow the rules and you will be fine. I too have very different looking charts than Phillip, but do very well when I stay disciplined and follow the market rhythm and entry signals. Also, be wary when we "quote" price levels....our feeds may differ by a few pips too....

Happy trading,

Pips

& Niti:

I haven't the foggiest re: your MACD. Settings are right....are you sure you have it on histogram? Anyone else know the answer to fixing Niti's chart?
  • #5,306
  • Edited 12:23pm Jun 21, 2007 12:22pm | Edited 12:23pm
Hi. i have interbank as well, i tried to match my charts in the begining as well, but then figured everyone has diff time frames acc to their broker's platforms. but now i figure that i might miss a trade but in the big picture the system works for any time zone. Actually PIPS said that on the forum that it should work out if u dont try to follow everyone's charts but follow the rules in your own.trade when your paltform gives a signal.When someone gives an analysis on a pair i read it throughly and if it does not match mine i try to learn from that if i am in that scenario how would i react. Good luck.

Thankyou all for your help.
best regards.
Nadia.

I guess pips beat me to it to answer you. hats off to u pips
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,307
  • Jun 21, 2007 12:29pm Jun 21, 2007 12:29pm
to Niti ..

Take the normal color indicator:

Attached File(s)
File Type: mq4 MACD 5-13-1.mq4   13 KB | 774 downloads

Attached File(s)
File Type: ex4 MACD 5-13-1.ex4   18 KB | 633 downloads


+ user guide
Attached File(s)
File Type: doc MACD Colored Indicator.doc   81 KB | 3,517 downloads


Many thanks to irusoh
____________________________________________________________

And it too can it is required

Attached File(s)
File Type: ex4 CandleTime.ex4   2 KB | 546 downloads

Attached File(s)
File Type: mq4 CandleTime.mq4   2 KB | 591 downloads


(time (H:mm) left to next bar) - thanks toNick Bilak
___________________________________________________________
  • #5,308
  • Jun 21, 2007 12:37pm Jun 21, 2007 12:37pm
Richard7:

...What Pips4 said....It all comes out in the wash. You will get signals that we don't see or come out earlier or later as well. Different brokers use different data feeds, spreads,.....so things will not be exact and it really doesn't matter.

Donna:

It might be from all the formalin in the lab all these years...I might need to talk to my Dr. in training..."Lynn....paging Dr. Lynn...."
  • #5,309
  • Jun 21, 2007 12:44pm Jun 21, 2007 12:44pm
u are right pips these 2 words describe me well right now. so just taking my daughter out and visit some friends, take care u all,
best regards .
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,310
  • Jun 21, 2007 12:50pm Jun 21, 2007 12:50pm
Hi Nikk,
I don't know how to use them. I am using forex.com, and spoke to them just now , if I can insert such codes. They said no. Please let me know what I should do.
Thank you all for replying.
Regards,
Niti
  • #5,311
  • Edited 2:35pm Jun 21, 2007 2:32pm | Edited 2:35pm
Hello Niti, what I would suggest you to do is to open a free demo account with Strategybuilderfx (the demo does not expire (http://www.strategybuilderfx.com/index.php). Once you are on this website, just look on the green rectangle on the middle of the page where it is written download and it will direct you so that you can download the MT4 platform. Then, just fill the infos for the demo.

After the above is done, save the indicator below: (MACD colored V102.mq4) under C/program file/Strategybuilderfx/expert/indicator.

The, close the MT4 platfom and open it again ang go under edit and open navigator and go down the list to custum indicator and double click MACD colored V102.mq4.

Then, you will have the indicator exatactly as it should be

Hope it help you

Shreem
Attached File(s)
File Type: mq4 MACD_Colored_v102.mq4   6 KB | 817 downloads
  • #5,312
  • Jun 21, 2007 2:41pm Jun 21, 2007 2:41pm
Complete newbie, working my butt off. Right now im working on reading all 350somethin pages of this... on page 13 right now. I'm still confused and totally lost on quite a lot of things, but I'm hoping theyll become clearer in the next 330 pages and if not I'll know where to ask ;]

But first things first, a MACD graph, hoping I'm pointing these out properly. This is June 1st through today. I see four signals. I'm not even concerned with the actual market movements at this point, just trying to ID these formations...

A) Round top, I think.
B) MACD is almost at -.0045 which means its due for an upswing, but I dont know that I'd be real confident with that trade
C) This is a "higher low"
D) This is a "lower high"

How'd I do just on identifying? Did I miss any?

Ive read this pdf file about 6 times now. I'm addicted, but I'm confused
Attached Image
  • #5,313
  • Edited 3:06pm Jun 21, 2007 2:55pm | Edited 3:06pm
Hello Euphoricism, according to me, you read them all 4 correctly. Great work! As you will read more and more on this thread, your addiction will become a real drug as the material that Phillip put for us is truly amazing. Welcoming you on the forum and wishing you a lot of Pips.

As your proceeed through, it is really important to read all PDF files, listen to all MP3 of Phillip and read the thread entirely. It is a lot of work but very worth it.

One additional comment, never take a trade only based on MACD signal. It is a mistake that a lot of us have made when beginging and that invite trouble as Phillip said. When you get familiar in recognizing the setup of the MACD, it is crucial to make a proper analysis of the motion of the market and the emotions given by the candles around MA, EMA, trendlines, fibo and others before making any trade.

Again, a very warm welcome on this great thread.

Wishing you a lot pips

Shreem
  • #5,314
  • Jun 21, 2007 2:58pm Jun 21, 2007 2:58pm
Quote
make a proper analysis of the motion of the market and the emotions givens by the candles around MA, EMA, trendlines, fibo and others.

This is exactly where I'm stuck right now. I'm stuck on the part where I decide whether trading with the MACD is worth it or not. And I guess thats the meat and potatoes, so I shouldnt expect to get it on my first day.
  • #5,315
  • Jun 21, 2007 3:01pm Jun 21, 2007 3:01pm
Oh shreem, i just loaded up your MT4 script since I figured that someone created it and it was being "Standard" for the thread --

but its only showing one MA at 14, and it doesn't show the horizontal lines on the MACD.

was all this done for a reason that I havent read about yet?
  • #5,316
  • Jun 21, 2007 3:14pm Jun 21, 2007 3:14pm
Quote: "Oh shreem, i just loaded up your MT4 script since I figured that someone created it and it was being "Standard" for the thread --

but its only showing one MA at 14, and it doesn't show the horizontal lines on the MACD.

was all this done for a reason that I havent read about yet?"


Hello Euphoricism, what do your mean by it only shows one MA at 14?

For the horizontal lines on the MACD, you can add the 0.15, -0.15, 0.30, -0.30, 0.45 and -0.45 manually by a right clik on the indicator and go under the tab levels and then add the necessary levels.

Hope it help

Shreem
  • #5,317
  • Jun 21, 2007 3:22pm Jun 21, 2007 3:22pm
Heres a screenshot of what it looks like just after loading up the file you linked above...

Note that theres only one MA.. its a SMA set to 14.

I can add the others in myself, as well as the horizontal lines for the MACD, but I was just wondering if there was a reason you had it set up the way it is.

Or maybe I just screwed it up
Attached Image (click to enlarge)
Click to Enlarge Name: forex.jpg Size: 76 KB
  • #5,318
  • Jun 21, 2007 4:31pm Jun 21, 2007 4:31pm
Did I miss a PDF somewhere? I only read about the MACD but people are talking about how theyre using the MAs ... but I havent seen that discussion. Any help?

Edit: Yes i did, I'm a dolt.
  • #5,319
  • Jun 21, 2007 4:55pm Jun 21, 2007 4:55pm
I have just had a look on the EU chart. It is interesting. If this candle closes as a bear, we are good to go short, according to the MACD (trend continuation pattern). And the MAs are just above the candle, so they are acting as resistance which is confirming the downtrend.

If I could be awaken when this candle closed... (And the again, if it closes as a bull, we have a totaly different situation.)

Let's see what the market holds for us.
Enter Signature
  • #5,320
  • Jun 21, 2007 5:08pm Jun 21, 2007 5:08pm
Hi all,

i have a qustion, I trade the EURUSD and USDJPY only and i have been thinking that maybe this is a bad idea as they could be correlated.

For example i get a long signal on the USDJPY followed by a short on the EURUSD if i loose on one there is a good chance i will loose on the other trade.

What do you think? Should i cut down to just the EURUSD?

Please advise

Thanks
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