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4 Hour Strategy (MACD)

  • #30,521
  • Sep 12, 2018 11:13am Sep 12, 2018 11:13am
I am staying out from EURUSD in 4H timeframe due to the price is moving within narrow window of SMA 89 and 200.

The MACD itself showing signal of sideway trend.

Will let the price to develop and wait for a TC setup.
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Own your own mind.
  • #30,522
  • Sep 13, 2018 4:23am Sep 13, 2018 4:23am
Quoting Arrow
I am staying out from EURUSD in 4H timeframe due to the price is moving within narrow window of SMA 89 and 200. The MACD itself showing signal of sideway trend. Will let the price to develop and wait for a TC setup. {image}
Very wise decision. Even after 12 years trading the EurUsd I got trapped into going short on Monday morning by listening to some expert on social media (don't want to mention names because I think most of you know him very well) explaining why the EurUsd will go down this week and I am still trying to use all of my skills to try and recover some of the losses I made for the week. Still about 100Eur to recover. I was down some 275Eur at one stage (10% of capital). So hopefully after tomorrow I will be positive. Lets see what happens. Lesson learned for me. Coming back to FF I must not be distracted by someone else claiming to have the answers.His track record is very impressive but you know how life goes. Getting on board just at the turning point maybe just for the short term. I must trade the way I have been doing for the past 5 years and I will remain positive in my trading account. Hope all of you take heart of this. Greedy is a bad thing.
  • #30,523
  • Sep 13, 2018 5:11am Sep 13, 2018 5:11am
Philip, thank you for teaching this method. I've been working my way through the thread, but wow its grown so much. I'm dyslexic so I struggle with written information. Your mp3s really help.

Is there a post you can direct me to for the most recent modifications... I read through and discovered that you narrowed things Down to TCs only, and wondered if there is more modifications I should pay attention to?
  • #30,524
  • Sep 13, 2018 7:44am Sep 13, 2018 7:44am
Quoting Toby1kenobi
Philip, thank you for teaching this method. I've been working my way through the thread, but wow its grown so much. I'm dyslexic so I struggle with written information. Your mp3s really help. Is there a post you can direct me to for the most recent modifications... I read through and discovered that you narrowed things Down to TCs only, and wondered if there is more modifications I should pay attention to?
I will post some videos this weekend if all goes well this side to give a short history of this strategy and how to trade it and have patience. Regards
  • #30,525
  • Sep 13, 2018 7:50am Sep 13, 2018 7:50am
Quoting Phillip Nel
{quote} I will post some videos this weekend if all goes well this side to give a short history of this strategy and how to trade it and have patience. Regards
Hi Phillip,

New to your thread and looking forward to your new video. I like your method very much. Seems to me that markets are more erratic than ever.

Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #30,526
  • Sep 14, 2018 7:48pm Sep 14, 2018 7:48pm
Quoting Phillip Nel
{quote} I will post some videos this weekend if all goes well this side to give a short history of this strategy and how to trade it and have patience. Regards
Thank you Philip, looking forwards to it.
  • #30,527
  • Edited 12:34pm Sep 16, 2018 12:22pm | Edited 12:34pm
Hi
Here is the link to the video of the summary of the rules of the 4 HOUR MACD Rhythm. Unfortunately I had to put it on Youtube as FF does not support the file format that I normally used in the passed and the file size is also bigger then 5Mb.

I said in the video I came out positive 40Eur but I forgot about those last trades that I did after the news came out. So ended up 97Eur positive.


4Hour MACD Summary of the Rules
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  • #30,528
  • Sep 16, 2018 2:42pm Sep 16, 2018 2:42pm
Thank you for giving up your time to bring us the summary Philip, picked up one or two points I'd missed, and a few changes that I would have found in time. I now know to change some things when back testing.

I'll continue to read through the thread as you suggest in your zip file lessons. Thank you for your fantastic teaching skills, patience and persistence.
  • #30,529
  • Sep 17, 2018 4:33am Sep 17, 2018 4:33am
Quoting Phillip Nel
{quote} Very wise decision. Even after 12 years trading the EurUsd I got trapped into going short on Monday morning by listening to some expert on social media (don't want to mention names because I think most of you know him very well) explaining why the EurUsd will go down this week and I am still trying to use all of my skills to try and recover some of the losses I made for the week. Still about 100Eur to recover. I was down some 275Eur at one stage (10% of capital). So hopefully after tomorrow I will be positive. Lets see what happens. Lesson...
I refer to the lesson from you, that even if the price moved to our stops, if it is in our plan, then we can count it as successful trade.

This mindset has given me confidence, neutrality and calmness when trading.

Thank you Phillip.

Ps: upward TC is forming in 4H, don't you think?
Own your own mind.
  • #30,530
  • Sep 18, 2018 2:24am Sep 18, 2018 2:24am
Quoting Arrow
{quote} I refer to the lesson from you, that even if the price moved to our stops, if it is in our plan, then we can count it as successful trade. This mindset has given me confidence, neutrality and calmness when trading. Thank you Phillip. Ps: upward TC is forming in 4H, don't you think?
If your stop is hit to often and price then return in the direction of your plan then you will have to make some adjustments. Either increase the stopsize and lower the position size or change your entry position. If you can go back and see how many times your stops has been hit and then price just turn around going in your direction as you have planned it and then make some adjustments to these things I mentioned above.
If you are happy that your stops is hit within your plan then consider that as a successful trade as far as discipline and emotion is concern.
But if that is the reason for you not making money then consider the options I mentioned.
  • #30,531
  • Sep 18, 2018 2:41am Sep 18, 2018 2:41am
I have read a quote from someone saying that if your stops is hit to often and price then returns in the direction of your original plan it is not because you are a failure. He suggests you to enter where your stop would have been. It might be that you are just to eager to get into a trade and scared to lose so you narrow things to much down making it difficult for yourself. Hope this make sense.
  • #30,532
  • Sep 18, 2018 6:57am Sep 18, 2018 6:57am
Quoting Phillip Nel
I have read a quote from someone saying that if your stops is hit to often and price then returns in the direction of your original plan it is not because you are a failure. He suggests you to enter where your stop would have been. It might be that you are just to eager to get into a trade and scared to lose so you narrow things to much down making it difficult for yourself. Hope this make sense.
Wow never heard this method before. Food for thoughts.

I am aware that most of the time, market will go against our position. Therefore, in the case price hit our stop too often then return to our intended direction, we need to give more space for the market to breath..therefore, increase the stopsize.

At the end, successful traders are those who are making money. As simple as that, right?
Own your own mind.
  • #30,533
  • Sep 18, 2018 7:00am Sep 18, 2018 7:00am
Upward TC in 4H EURUSD. Stop placed below 21ema. R:R = 1:1.
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Own your own mind.
  • #30,534
  • Sep 19, 2018 12:34am Sep 19, 2018 12:34am
I am happy to see that Philip is still much around.

TC away from 21 with Pin bar
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #30,535
  • Edited 3:38am Sep 19, 2018 12:50am | Edited 3:38am
I entered with very small position size due to uncertainty amongst a lot of experts. I will give the position a chance should it wants to break the upper resistance line. I will see what happens when it reaches that level.

Just remember that when there is a turnaround of direction from top downwards it normally makes lower highs. Just be prepared for it to close your position or reduce your position size should that happens. That is why I feels that 1.17000 will always play a big role in where we are currently. If that is breached then anything can happens. Only my opinion.

This is the current situation on the bottom image.. I will wait to see what happens at this Resistance line.
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  • #30,536
  • Edited 5:05am Sep 19, 2018 1:12am | Edited 5:05am
You will notice that I have taken away a lot of the T/L and Supp/Res lines I had on my charts last week. The ones I currently have on is the ones playing the biggest role. If the upper Res line is broken and it continues in that direction there is another Res line as well as the 200 daily MA. See image.

This is a daily timeframe
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  • #30,537
  • Edited 5:26am Sep 19, 2018 5:14am | Edited 5:26am
Quoting ejiexe
I am happy to see that Philip is still much around. TC away from 21 with Pin bar {image}
Great entry place. Hope you held an eye on that upper resistance level. Something big is coming. I just have that feeling in the very near future regarding the USD. We will have to wait and see what happens and be ready to get on board if that happens. To many experts having opposite expectations in terms of direction.
  • #30,538
  • Sep 19, 2018 8:20am Sep 19, 2018 8:20am
Quoting Phillip Nel
{quote} Great entry place. Hope you held an eye on that upper resistance level. Something big is coming. I just have that feeling in the very near future regarding the USD. We will have to wait and see what happens and be ready to get on board if that happens. To many experts having opposite expectations in terms of direction.
Thanks. I got out at nice price
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #30,539
  • Sep 19, 2018 1:52pm Sep 19, 2018 1:52pm
Quoting ejiexe
{quote} Thanks. I got out at nice price {image}
Yes I also got out but on different places giving my trade a chance should it run through the top resistance around 1.17200. So my profit was very small as my original position size was also small.
  • #30,540
  • Sep 20, 2018 12:01pm Sep 20, 2018 12:01pm
What a week so far. I will post my results tomorrow about 19:00 GMT+2. Traded twice from top resistance somewhere around 1.17100-1.17200 levels and all my knowledge and patience was tested. I was anticipated todays move through the upper resistance but guess what. I shorted it at the top resistance again. I missed the move away from the 21ema 6h-10h because we were in town doing some shopping for the long weekend. That was the second time this week I had to struggle to get out of a trade that went against me. But so far for the week with 2 big wrong decisions I am only 19Eur down. It could have been a lot worst but I manage to get out with some small gains on the 1min strategy that I use. Regards.
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