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4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
Dislikedso basically, its not to be considered strong unless it converges with another form of resistance, is that what you are saying?Ignored
DislikedHi again!
No, that's not what I'm saying. The 8 seems to provide a bounce in a strong uptrend. That is when it is "strong." the 8 by nature, is a short term indicator and gives us an idea of what recent price action has done.
If it happens to converge with support along the way, then I would definately consider it to be stronger than normal. Don't really expect it to converge with trendlines too often, but I've never looked, so I don't know.Ignored
DislikedPhillip,
I sent you a email about the conflict of thoughts while entering a trade.
Here is one more to ponder over.
There seems to be easier provision in forex tradig for big guys to take away stop losses compared to in the futures and commidities trading. The reason seems to be, in futures and commodities you have a huge heard of buyers and sellers on both sides of your broker's window. For a public buyer, there has to be a public seller, not an institutional seller.
But in forex trading, for a public buyer, there is only one (institutionlal) seller. So, the selling price does not reflect the fair selling price dectated by the huge public market. The selling price is dectated by one single institution. And you know how fair they can be. They need not be fair because there is no other competiter out there to compete their selling price!
So, how much they may shout on the top of their voice that this forex market is a huge market, bla, bla, they are not telling the truth. Yes, it is a huge market with several trillion dollar of trading. But it is not the dollar amount that should decide whether it is a huge market or not. It is the number of participants that should decide it.With the banks always sitting on the other side, we always buy or sell on their terms (prices decided by them) and there is not much With such a control whip in their hands, can we really win? I still feel we can still win provided we out smart them and that is what you are trying to do with your methods, etc.
By the way, are there more than one bank (institution) as market makers behind our broker so that they would compete among themselves to give us a better rate? If there is only one bank (institution) as market maker, "God, protect us".
Thanks.
-ChandraIgnored
DislikedHey tamkras,
you cheeky little Devil...I envy you for being right all the timeIgnored
DislikedHi again!
No, that's not what I'm saying. The 8 seems to provide a bounce in a strong uptrend. That is when it is "strong." the 8 by nature, is a short term indicator and gives us an idea of what recent price action has done.
If it happens to converge with support along the way, then I would definately consider it to be stronger than normal. Don't really expect it to converge with trendlines too often, but I've never looked, so I don't know.Ignored
DislikedPhillip,
I sent you a email about the conflict of thoughts while entering a trade.
Here is one more to ponder over.
There seems to be easier provision in forex tradig for big guys to take away stop losses compared to in the futures and commidities trading. The reason seems to be, in futures and commodities you have a huge heard of buyers and sellers on both sides of your broker's window. For a public buyer, there has to be a public seller, not an institutional seller.
But in forex trading, for a public buyer, there is only one (institutionlal) seller. So, the selling price does not reflect the fair selling price dectated by the huge public market. The selling price is dectated by one single institution. And you know how fair they can be. They need not be fair because there is no other competiter out there to compete their selling price!
So, how much they may shout on the top of their voice that this forex market is a huge market, bla, bla, they are not telling the truth. Yes, it is a huge market with several trillion dollar of trading. But it is not the dollar amount that should decide whether it is a huge market or not. It is the number of participants that should decide it.With the banks always sitting on the other side, we always buy or sell on their terms (prices decided by them) and there is not much With such a control whip in their hands, can we really win? I still feel we can still win provided we out smart them and that is what you are trying to do with your methods, etc.
By the way, are there more than one bank (institution) as market makers behind our broker so that they would compete among themselves to give us a better rate? If there is only one bank (institution) as market maker, "God, protect us".
Thanks.
-ChandraIgnored
DislikedPhillip, I guess we can if we flow with them. This is, probably, one more way of looking at it.Ignored
DislikedPhillip,
I sent you a email about the conflict of thoughts while entering a trade.
Here is one more to ponder over.
There seems to be easier provision in forex tradig for big guys to take away stop losses compared to in the futures and commidities trading. The reason seems to be, in futures and commodities you have a huge heard of buyers and sellers on both sides of your broker's window. For a public buyer, there has to be a public seller, not an institutional seller.
But in forex trading, for a public buyer, there is only one (institutionlal) seller. So, the selling price does not reflect the fair selling price dectated by the huge public market. The selling price is dectated by one single institution. And you know how fair they can be. They need not be fair because there is no other competiter out there to compete their selling price!
So, how much they may shout on the top of their voice that this forex market is a huge market, bla, bla, they are not telling the truth. Yes, it is a huge market with several trillion dollar of trading. But it is not the dollar amount that should decide whether it is a huge market or not. It is the number of participants that should decide it.With the banks always sitting on the other side, we always buy or sell on their terms (prices decided by them) and there is not much With such a control whip in their hands, can we really win? I still feel we can still win provided we out smart them and that is what you are trying to do with your methods, etc.
By the way, are there more than one bank (institution) as market makers behind our broker so that they would compete among themselves to give us a better rate? If there is only one bank (institution) as market maker, "God, protect us".
Thanks.
-ChandraIgnored
DislikedEurUsd
1. MACD gave signal end of 8:00 to 12:00 candle at 1.3133
2. Stoploss = above resistance = trendline = 50+ pips or 1.3200 = +70
3. Target1 = 1.3100 = 33 pips
4. Target 2 = 21 EMA1.3067 = 66 pips
Action.
If you want to take the trade on to make R:R worth it it must go to target 2 and stoploss +70. If you have done that you would still be in the trade.
I never use stop above 48 pips.
Skip for the time being my action
I took the trade after the 16:00 candle at 1.3145 and stoploss 1.3173 with first target 1.2320. Risking 28pips of yesterdays 60+ gain. There money not mine. It is also a risky one as it havent test the longtermtrend at 1.3180
GbpUsd:
1. Macd did not give short signal.
2. You called it a "mild" continuation pattern. I will never trade on that. You have just explain with that word what you think of that pattern. Not very convincing.
3. When the MACD gave a short signal your stoploss had to be over 100 pips to cover the previous candle.
Action
Skip for the time being.
Made over 60pips yesterday. See the post.Ignored
DislikedPhilip please correct me if i am wrong:
There are market makers in every market, and when there is a lack of sellers they become the seller and when there is a lack of buyers they become the buyer. Brokers in this market act the same way. Our brokers are the market makers and that is why alot of times spreads will widen. You must be careful because alot of brokers are hard set on hunting your stops and will knock you out of every trade that you are on the right side of.
There are certain ways to protect yourself, but these rules apply in all markets. Such as not overtrading, never bet the farm on one deal, and watch the margin call
..again philip, if i said anything that is incorrect, please let me know.
Just trying to help
-DaveIgnored
DislikedThanks, Phillip.
I completely understand your explination on EUR/UD.
About GBP/USD:
1. Was there not 'Round Top" sell signal in MACD after the completion 8:00 to 12:00 bar?
2. You said "When the MACD gave a short signal your stoploss had to be over 100 pips to cover the previous candle."
I did not get the meaning of this statement. Can you please expand a bit on this.
Thank you.
-ChandraIgnored
DislikedHi again!
No, that's not what I'm saying. The 8 seems to provide a bounce in a strong uptrend. That is when it is "strong." the 8 by nature, is a short term indicator and gives us an idea of what recent price action has done.
If it happens to converge with support along the way, then I would definately consider it to be stronger than normal. Don't really expect it to converge with trendlines too often, but I've never looked, so I don't know.Ignored
Dislikedit is getting very tight for canuck (loonie) in the falling wedge. Please, see chart.
for those who consider to buy dollar/loonie pair, there are 2 bullish signs on the plate with MACD signal still outstanding, for the want of this candle close.
If price continues to slide further and touch 365SMA, then waiting time for the bullish symptoms will be extended.
If this candle turns green at the close, MACD will provide 3rd bullish sign. However, wait to see what side of the wedge price is breaking out.
I will try this pair once I have confirmed MACD signal and conditions above. I have a mental price of 1.1685 which the pair should break to go long.Ignored
DislikedI don't really knows how they operate and how they do it. I just noticed that there is a tendency to do the same thing over and over again. Tails. I watch them with a magnifying glass.Ignored
DislikedThe 8:00 to 12:00 candle gave a signal on the MACD. The candle was over 100 pips. If you went short there the safest stop was above that 100pip candle and then you had to make 100pips to get a 1:1 ratio. Not for me.
I never chase a candle that goes 100pips and give a MACD signal with that candle. I really dont think a deal is on.Ignored