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4 Hour Strategy (MACD)

  • #31,141
  • Apr 10, 2020 1:52pm Apr 10, 2020 1:52pm
Quoting 40PipsAlan
Disastrous week for me guys. -1.73% on the account. lots of ranging and choppiness. Maybe I should avoid pairs that are in the 89/200 zone and wait for trending to return. {image}
Yeah!
Well said! And that is why you must have a filter, there are certain things you will see and you know that for a certain pair there is no room for trading, you just have to checkout another pair or wait patiently till things clear up... Be happy because our mistakes or draw downs are part of learning...they will all pay off nicely in the end. Hope you understand.
Seasons greetings!
  • #31,142
  • Apr 10, 2020 1:57pm Apr 10, 2020 1:57pm
Quoting naustingfx
{quote} Yeah! Well said! And that is why you must have a filter, there are certain things you will see and you know that for a certain pair there is no room for trading, you just have to checkout another pair or wait patiently till things clear up... Be happy because our mistakes or draw downs are part of learning...they will all pay off nicely in the end. Hope you understand. Seasons greetings!
Thanks for your input Nausting. I am thinking that scalping is the best option for pairs that are in the ranging zone and its best to wait it out and save the funds for another day.
  • #31,143
  • Apr 10, 2020 2:00pm Apr 10, 2020 2:00pm
Quoting 40PipsAlan
{quote} Thanks for your input Nausting. I am thinking that scalping is the best option for pairs that are in the ranging zone and its best to wait it out and save the funds for another day.
Exactly!
Pro scalpers are making lot of pips based on current market conditions on certain pairs.
  • #31,144
  • Apr 10, 2020 2:01pm Apr 10, 2020 2:01pm
EUR/JPY
I am currently here and watching things closely...I am very conservative on this trade.
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  • #31,145
  • Apr 10, 2020 2:12pm Apr 10, 2020 2:12pm
Quoting naustingfx
EUR/JPY I am currently here and watching things closely...I am very conservative on this trade. {image}
I hope it works out for you Nausting, I did see the long wicks heading upwards along with the big Ma above and thought a short trade was due soon. I am going to wait for a close over the 21. I am not keen on JPY pairs.
  • #31,146
  • Apr 10, 2020 2:14pm Apr 10, 2020 2:14pm
Quoting forexdg
{quote} beautiful trade you can drag trade result in the chart and it show signs where its your entry adn your exit maybe someone with beter english can explain this if you didnt understand how I said I just taken gbpaud sell in h1 {image}
this gbpaud trade I took was a lose in the end
last week I didnt post results and it was a lose week.
I will post now results for combined last week and this week ad you will see something interesting
this week I end in profit but whats interesting its I finished both weeks combined with over one thousand pips in loss and the results is at breakeven (almost breakeven, its 5 euros lost which si nothing serious)
I find its fantastic to lose one thousand pips and still have breakeven results in money
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  • #31,147
  • Apr 10, 2020 2:37pm Apr 10, 2020 2:37pm
Quoting forexdg
{quote} this gbpaud trade I took was a lose in the end last week I didnt post results and it was a lose week. I will post now results for combined last week and this week ad you will see something interesting this week I end in profit but whats interesting its I finished both weeks combined with over one thousand pips in loss and the results is at breakeven (almost breakeven, its 5 euros lost which si nothing serious) I find its fantastic to lose one thousand pips and still have breakeven results in money {image}
Keep at it forexdg, we will make it eventually. Have a good weekend.
  • #31,148
  • Apr 10, 2020 3:34pm Apr 10, 2020 3:34pm
Down 4% for the week. I was up 13% early in the week and gave it all back and some with a terrible trade on EA. Was on the wrong side of a couple aud trades when it decided to go up and keep going up

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  • #31,149
  • Apr 12, 2020 1:00pm Apr 12, 2020 1:00pm
Ok Guys, Lets take a look at what EU might do this week. On the daily chart we have an interesting triangle formation with price up against the TL. The daily is in a downtrend below the 89 and 200 and we are in the middle of the weekly downwards channel.
On the H4 we get a closer look at the triangle formation at what appears to be a breakout to the upside of the TL resistance. The candles are small and we are in another upward trend channel with price near the top TL. Price is sitting in the ranging zone again like a lot of pairs recently. My plan therefore is to sit and wait for a better situation on this pair like price above the 200 or under the 89. I will take a look at another in a bit. I am hoping to make better trades this week.
Another point to bear in mind is UK bank holiday tomorrow so might be quieter than normal.
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  • #31,150
  • Apr 12, 2020 2:22pm Apr 12, 2020 2:22pm
Guys,
I am just going through JonnyPips posts again especially the ones discussing Elliot wave counting as I am finding it very fascinating when its is used alongside this 4Hr Macd system. Any takers care to share some insight into this technique. Also waiting for some Fib trades Tuffsy.
  • #31,151
  • Apr 13, 2020 2:50am Apr 13, 2020 2:50am
Quoting naustingfx
EUR/JPY I am currently here and watching things closely...I am very conservative on this trade. {image}
I allowed trade over the week end as my anticipation did not happen before the close of market last Friday...currently my plan is playing out nicely.
Seasons greetings to all!
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  • #31,152
  • Apr 13, 2020 6:25am Apr 13, 2020 6:25am
Quoting 40PipsAlan
{quote} Keep at it forexdg, we will make it eventually. Have a good weekend.
someone told me its low volatility now with savior Jesus Christ and better take a break
but when I looked at charts and saw eurjpy on h1 I just taken now the trade and in it with naustingfx
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  • #31,153
  • Apr 13, 2020 8:57am Apr 13, 2020 8:57am
Quoting forexdg
{quote} someone told me its low volatility now with savior Jesus Christ and better take a break but when I looked at charts and saw eurjpy on h1 I just taken now the trade and in it with naustingfx {image}
I closed now with 50 pips
this chart is posted at m15 with add trades
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  • #31,154
  • Apr 13, 2020 10:17am Apr 13, 2020 10:17am
Quoting naustingfx
{quote} I allowed trade over the week end as my anticipation did not happen before the close of market last Friday...currently my plan is playing out nicely. Seasons greetings to all! {image}
Regards
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  • #31,155
  • Apr 13, 2020 10:19am Apr 13, 2020 10:19am
Quoting naustingfx
{quote} Regards {image}
Yeah, still in this one boss. Moving my SL as we go. No idea where to get out tho.
  • #31,156
  • Apr 13, 2020 10:30am Apr 13, 2020 10:30am
4 HOUR MACD STANDARD Versus 4 HOUR MACD SCALPING
It is very important not to mix things up. It is good to separate the results you make from the standard strategy and the ones from scalping. You can do the scalping in a separate demo account and keep a track of your results... So at the end you will be able to ascertain what is most profitable to you and which one actually suit your life style. This is very important when you actually have a plan to make a business out of the system. For me I don't count scalping results as part of my performance with the record made by taking the standard strategy.
Hope this makes sense.
Regards
  • #31,157
  • Apr 13, 2020 11:06am Apr 13, 2020 11:06am
Quoting 40PipsAlan
{quote} Yeah, still in this one boss. Moving my SL as we go. No idea where to get out tho.
TRADE PLAN is the answer. Before a trade is taken, a trader should already have stipulated apart from stop loss, and entry levels,but exit level as well. Then one should also know or anticipate how far the trade will move and there is need for exit strategies which spells out the Risk/Reward aspect of trading which is part of what is done during backtesting, and that is why back testing should be extensive... For example, for me, I have developed different exit strategies, depending on my analysis, I have the following exit Strategies:

  1. Risk/Reward of 1:1
  2. Risk/Reward of 1:2, 1:3, etc
  3. Profit trailing strategy, which tells how long you should follow price until you are stopped out...
  4. Exit that has to do with critical levels, structure, moving averages, etc
  5. Indicator based exit strategies, etc

So please let your trading plan be comprehensive, and it cannot be unless your back testing was comprehensive. Simple!
So is a matter of choice and purpose!
Some people might be here just to play out with their recreation time, they already have excellent sources of income- forex or not they are okay, and I see them as distraction, they are never ready to put in the work, and such people are not to be followed...While some others really need forex to boost their finances so as to establish a better living for themselves, etc. Simple! So everyone must choose his path and be ready to bear the consequence that follow...hope this piece makes sense to you and everyone.
Regards

  • #31,158
  • Apr 13, 2020 1:07pm Apr 13, 2020 1:07pm
Quoting 40PipsAlan
{quote} Yeah, still in this one boss. Moving my SL as we go. No idea where to get out tho.
Trailing SL taken out for +64. Waiting for bounce off the 21 to go in again.
  • #31,159
  • Apr 14, 2020 3:59am Apr 14, 2020 3:59am
I miss entry two bars ago and I entered now at even beter level
sell eurcad h1
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  • #31,160
  • Apr 14, 2020 4:08am Apr 14, 2020 4:08am
another two sell entry
eurjpy h1
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usdjpy h1
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