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4 Hour Strategy (MACD)

  • #3,801
  • Apr 26, 2007 10:57am Apr 26, 2007 10:57am
Quoting kappa
Hi Josh,

We might have missed good chances today...like the one I missed..., but there will be many waiting for us soon.

Let us be better traders !
Thanks for the positive attitude kappa--

as I am a new trader but one with lots of potential I believe, I will be posting to this thread most of my trades as they go along with Phil's system. I appreciate everyone's generous helpful support so far, and hope you all will continue to help this new but excited trader!! :-)
  • #3,802
  • Apr 26, 2007 11:18am Apr 26, 2007 11:18am
Quoting kappa
Hi Tamakras,

You gave us early warning on USD/JPY. Breaking the "shield" requires immence energy.

So I should have prepared. The energy came after very quite asian session out of the blue. It was a suprise hike. I was not prepared.

When the 4 hr candle with arrow closed above 89 sma, I should have gone long. The candle close above 89 sma should have been considered a strong signal.

Now I understand that better planning in advance is essential for better trading.

Always hoping to be a better trader !

Thank you for your info on GBP/CHF. I demotraded only as my broker's spread is 10 pips.

Good trade ahead !
No worries, Kappa. It was a fantastic setup though. Hard to believe but the energy was released at exactly the same point where I put a bold arrow. There was no way MACD could have forewarned it as the steam pushed the lid hard and once. As you can see price was following the curve of the shield/lid and it was getting tight for the steam. Finally, boom! A buy stop order at 118.70-80 could help. MACD gave a second chance, though, for the second bullish candle but again it might have been late already if you are in a different time zone or away from your computer. Glad you followed this price action and could see some amazing stuff. Even in retrospect, this gives you a lot of knowledge and experience for the future.

Yours, Tamkras
  • #3,803
  • Apr 26, 2007 11:29am Apr 26, 2007 11:29am
Quoting BoredToLoose
My first trade opinion here using MACD System.
All the trades I say here are real.

I short already at 161.92
I have a order Short at 162.17. SL 162.57.
First T/P at 161.47, Second at 161.27.

Wish me luck guys.

ALL THE BEST
MIKE
As everyone can see my trades were a failer ones.
It looked a nice RT. That's why Phillip only trade EU and Cable.
Almost my failed trades was with some JPY cross, time to Think about it!

BYE
MIKE
  • #3,804
  • Apr 26, 2007 12:40pm Apr 26, 2007 12:40pm
Palmer, first of all happy birthday, Im sorry I missunderstood your question I use the MT4 platform, however I dont know how to draw the SMA and the EMA' s needed. I have looked and havent found any indicators downloadable so I imagine they are a part of the system already, can someone please advise. Either can I download your indicator or can someone explain how to draw them. Thank You.

Peace, Justice, Unity
  • #3,805
  • Apr 26, 2007 1:04pm Apr 26, 2007 1:04pm
Quoting sublimeonskunk
Palmer, first of all happy birthday, Im sorry I missunderstood your question I use the MT4 platform, however I dont know how to draw the SMA and the EMA' s needed. I have looked and havent found any indicators downloadable so I imagine they are a part of the system already, can someone please advise. Either can I download your indicator or can someone explain how to draw them. Thank You.
Click the "Navigator" button on the toolbar at the top, and on the Indicators list on the left, click "Moving Average" and drag it onto your chart. Set up your parameters and you're ready to go. There's an excellent forum on FF that deals specifically with MetaTrader topics if you need MT help, it's a great resource.
  • #3,806
  • Apr 26, 2007 1:08pm Apr 26, 2007 1:08pm
Quoting JoshDance
Click the "Navigator" button on the toolbar at the top, and on the Indicators list on the left, click "Moving Average" and drag it onto your chart. Set up your parameters and you're ready to go. There's an excellent forum on FF that deals specifically with MetaTrader topics if you need MT help, it's a great resource.

Josh, thanks for the help, my question is how do I know if its a simple moving average or and exponential moving average?

Once again Thank You


Peace, Justice, Unity.
  • #3,807
  • Apr 26, 2007 2:37pm Apr 26, 2007 2:37pm
Quoting sublimeonskunk
Josh, thanks for the help, my question is how do I know if its a simple moving average or and exponential moving average?
You set that when you move the indicator to the chart. There's a box where you can choose simple, exponential, smoothed, etc... After it's on the chart, you can move your mouse over the line and it will tell you what kind it is. Make sure you're using the indicator found under "Indicators," not the one under "Custom Indicators".
  • #3,808
  • Apr 26, 2007 2:56pm Apr 26, 2007 2:56pm
Hi all,

I'm interetsed in Alcastro's idea about the daily charts as I'm at work all day, have no access to the charts etc etc etc, but I have a question for you experts -

Do the MAs just stay the same for the daily charts or should they be adjusted. I.e. is it as simple as the 8 EMA becomes the 48 EMA on the daily charts, because there are 6 lots of 4 hours in a day, so therefore multiply the 8 EMA by 6 ????

Now I've read this back it sounds a bit dumb, but hey, you don't ask, you don't learn

Cheers
Enter Signature
  • #3,809
  • Apr 26, 2007 3:35pm Apr 26, 2007 3:35pm
Quoting JoshDance
You set that when you move the indicator to the chart. There's a box where you can choose simple, exponential, smoothed, etc... After it's on the chart, you can move your mouse over the line and it will tell you what kind it is. Make sure you're using the indicator found under "Indicators," not the one under "Custom Indicators".

Josh, you da man. I knew I was missing something. What about the APPLY TO setting, where do we take the moving average from.

Thanks again.
  • #3,810
  • Apr 26, 2007 3:43pm Apr 26, 2007 3:43pm
I hope you all digested PIPs wonderful post re aggressive counter trades. Phillip is always telling us to have patience and wait for the right setup. When you are trading with real money you will hopefully learn to trade smart and preserve your capital. Spend the time to read this thread many times and you will pick up lots of wisdom.

Happy birthday Palmer,have a good break mate. I wish I was still only 40.!!

Happy trading.
  • #3,811
  • Apr 26, 2007 3:58pm Apr 26, 2007 3:58pm
Quoting cologg
is it as simple as the 8 EMA becomes the 48 EMA on the daily charts, because there are 6 lots of 4 hours in a day, so therefore multiply the 8 EMA by 6 ????
heavens no-- an "8 EMA" means the exponential average of the last 8 *periods* -- so when you switch to a daily chart, you'll be averaging the last 8 days, and when you switch to a 4-hr chart, you'll be averaging the last 8 4-hr periods. Now, there might be different EMAs that would work better for different TFs, but I think the settings are pretty good as they are.


Quoting sublimeonskunk
What about the APPLY TO setting, where do we take the moving average from.
The average is applied to the close of the bar.
  • #3,812
  • Edited 4:23pm Apr 26, 2007 3:59pm | Edited 4:23pm
i was studying the Gbp/cad last night...and there were 3 trend in a day...of like 40 pips each..on this pair...First was the Trend continue...and then its the double top...So if you had entered all 2 phases.. that would be atleast 100 pips...formula works most of time but never ever TRADE without(ops lol) STOPS in my opinion....

i had entered the first trade but i aimed too high for the profits so got stopped but it was pratice so no worries!!:
  • #3,813
  • Apr 26, 2007 4:03pm Apr 26, 2007 4:03pm
Quoting ansh
...but never ever TRADE with STOPS..
hmmm... why not? I don't like to lose my money when I'm away from my computer :-)
  • #3,814
  • Apr 26, 2007 4:19pm Apr 26, 2007 4:19pm
the attach pic shows u the picture of the above post^^
Attached Image
  • #3,815
  • Apr 26, 2007 4:20pm Apr 26, 2007 4:20pm
Quoting JoshDance
hmmm... why not? I don't like to lose my money when I'm away from my computer :-)
sry misspelled...it..ops
  • #3,816
  • Apr 26, 2007 4:34pm Apr 26, 2007 4:34pm
Just an observation.

Has any one seen the evening star on the E/U Daily.

J
  • #3,817
  • Apr 26, 2007 5:17pm Apr 26, 2007 5:17pm
Quoting hard1head1
Just an observation.

Has any one seen the evening star on the E/U Daily.

J
You mean the one 11 days ago?
  • #3,818
  • Apr 26, 2007 5:44pm Apr 26, 2007 5:44pm
I get my morning and evening stars mixed up...but yes, Hard1Head1, I have a doji from the day before last on my daily charts.

As to the EMA question posed earlier....Both respondents are right....If you wanted an equavalent MA that shows the same on the daily as on the 4 hour, you would multiply through for the period....

If you wanted the same system on a larger time frame, you would keep the settings the same. Then you are only using info pertinent to the daily chart.

Think AlCastro could answer the question best on the daily, how the system performs b/c he is in process of testing it. From what I gather, it works well, just doesn't give many signals...which could be a really good thing! (keep us from overtrading).
  • #3,819
  • Apr 26, 2007 6:23pm Apr 26, 2007 6:23pm
Thanks Josh re: usdcad the other day

Currently keen on USDJPY and the possible RT forming...given the sudden previous upsurge it looks good for a retrace imo.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYh4_042607.jpg Size: 75 KB
  • #3,820
  • Apr 26, 2007 8:15pm Apr 26, 2007 8:15pm
All news in japan were = Weak JPY.. be carefull with Possible RT, that could become TC

My 2 cents...

Ignacio
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