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4 Hour Strategy (MACD)

  • #4,581
  • May 21, 2007 9:57am May 21, 2007 9:57am
I believe that you should be looking at the MACD for the entry signal, if there is a signal to enter a trade, before entering it, check to see where the price is according to the moving averages and what kind of trend is it in at this moment, ask yourself if this is a counter-trend trade or not. Once you have determined that this is a good trade then plan out your profit taking scenarios and stop loss. If and only if everything is right in place....enter you trade and then leave it until 4 hours later!!!
  • #4,582
  • May 21, 2007 10:13am May 21, 2007 10:13am
Well the week started off with a bang - TC's on eurusd, gbpusd, usdjpy, and audusd too - pick your poison eh? And of course, I missed them all.: The eurusd one looks the best in retrospect, with a nice zerobreak on my timeframe. Instead I took some nice profit off the RT on the overbought eurchf, as indicated by the big gap over the weekend. Hope no one got on the usdcad RB though, I had a bad feeling and stayed away.
  • #4,583
  • May 21, 2007 10:55am May 21, 2007 10:55am
Where is there a listing of all the abbreviations used??? Mainly I cannot figure out what TC means?
  • #4,584
  • May 21, 2007 11:03am May 21, 2007 11:03am
Info
Attached File(s)
File Type: zip Daily Wrapup 21May2007.zip   830 KB | 1,549 downloads
  • #4,585
  • May 21, 2007 11:05am May 21, 2007 11:05am
Hello RyanD, go to page 290 post 4348 in the PDF file and you will have a list of all the meanings of abbreviations.

Also, felicitations to everyones who has start the week with some pips.

I was also waiting for a trend continuation (TC) signal on the Euro as the price is under the 89SMA and have made a pullback to the 21ema.

However, when the signal came for a TC, I was sleeping and miss that signal. Well, at least, I had a good expectations of the motion of the market.

It is very incredible as this system can be so accurate.

On my charts (EST time), the Euro came down and halt right on the 365EMA and the trend line.

Will try to get the next one

Happy trading to all

Shreem
  • #4,586
  • May 21, 2007 11:12am May 21, 2007 11:12am
Quoting RyanD
Where is there a listing of all the abbreviations used??? Mainly I cannot figure out what TC means?

Lesson 9 of the summary which start at page 289 Post 4335 is Titled MACD Signals and they are given there.
  • #4,587
  • May 21, 2007 11:17am May 21, 2007 11:17am
Thanks Phillip and all for your great work and ideas here. This is my first post after studying this great system for a few months. I almost first tried using this system selling at 1.3516 but at the last moment I noticed that the charts in my MT4 was not all the same as my Marketmaker's. I felt a bit reluctant at the moment and came to understand that my MT4 server is GMT+1, and my Marketmaker is GMT+0. Do you think the server time makes a difference when using 4H? I have done some searching afterward but only find Admiral is using GMT+0 for its MT4, but it's always asking for update, so I don't feel like using it. Any ideas which MT4 brokers using GMT+0? Thanks.
  • #4,588
  • May 21, 2007 11:44am May 21, 2007 11:44am
Being a little aggressive here with the 1hr....I'm not looking for a whole lot, just a 'bounce correction' back to the 8/21 area...
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  • #4,589
  • May 21, 2007 12:34pm May 21, 2007 12:34pm
I am at the start of the road on the forex market. I was looking for a way, a method to optimise my efforts and to save my time, so I've been reading the entries of this post for about 2 weeks by now. The job made by Philip is a great one, because shows us from thousand of doors, the door which we have to open. As like the others, I must thank him! That's all for now... I'll come back with other posts, and I hope to be part in a way, to the succes of us, all. Greatings from Bucharest, Romania!
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #4,590
  • May 21, 2007 2:40pm May 21, 2007 2:40pm
Hi guys! Looks like a good start of the week for us today!

I would like to share with you a trading card I have made based on the 4Hr MACD System of Philip. Its sort of an Idiot Card for me. I pasted it on my monitor to keep me reminded of the basic rules I have to look for whenever a MACD gives a signal. Like Philip said, don't take all MACD signals right? But sometimes when emotions sets in, its hard not to forget those simple reminders. So I made this card to keep me reminded to check whether the MACD that has formed is based on the MACD Rules and is worth taking the risk.

Feel free to use it and paste it on your desktop too. Comments and suggestions would also be appreciated. Goodluck to us all and more Pips to come!
Attached File(s)
File Type: pdf 4 HR MACD Trading Card.pdf   13 KB | 1,866 downloads
  • #4,591
  • May 21, 2007 3:18pm May 21, 2007 3:18pm
Quoting jland
Hi guys! Looks like a good start of the week for us today!

I would like to share with you a trading card I have made based on the 4Hr MACD System of Philip. Its sort of an Idiot Card for me. I pasted it on my monitor to keep me reminded of the basic rules I have to look for whenever a MACD gives a signal. Like Philip said, don't take all MACD signals right? But sometimes when emotions sets in, its hard not to forget those simple reminders. So I made this card to keep me reminded to check whether the MACD that has formed is based on the MACD Rules and is worth taking the risk.

Feel free to use it and paste it on your desktop too. Comments and suggestions would also be appreciated. Goodluck to us all and more Pips to come!
I think it is a good idea.I had a copy of the rules pasted on a wall next to me as posted by GOLFER in an earlier post#4504(thankyou Golfer for that). I will be putting up your post as well, just to keep myself in check before getting into a trade. I've been repeating the rules in my head over and over again and am actually having dreams about all the rythem and motion and EMA and SMA http://www.forexfactory.com/images/icons/icon10.gif.But it will all be worth it.Thanks to phillip and everyone. Happy pips to all!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #4,592
  • May 21, 2007 3:23pm May 21, 2007 3:23pm
Hi chrisbedo,
If you forgot about macd and or MA this system is based on knowage of price motion, rythm and price movement. MA's and macd are include just to serve you to learn the price action, to understand it and use it in your trading. Really if you are familiar with price action you can trade without any indicator.
I want to thank Phill for every thing he share with as. His action is greatest thing that I sow on that forum.
GL & GT
Ice

Quoting chrisbedo
Please dont anyone get mad, I feel this is a ligit question! I am getting a little confused.........is this a MACD or is it a MOVING AVERAGE system? I thought it was based on MACD patterns, however the further I get into the threads it seems as though it is based on the moving averages and s/r and overall trend. Not that this is a bad thing, I just trying to figure out what I need to study! Are the MACD patterns just conformation? HELP.........
It’s just emotions & money
  • #4,593
  • Edited 4:26pm May 21, 2007 3:54pm | Edited 4:26pm
Quoting Cornelius
I am at the start of the road on the forex market. I was looking for a way, a method to optimise my efforts and to save my time, so I've been reading the entries of this post for about 2 weeks by now. The job made by Philip is a great one, because shows us from thousand of doors, the door which we have to open. As like the others, I must thank him! That's all for now... I'll come back with other posts, and I hope to be part in a way, to the succes of us, all. Greatings from Bucharest, Romania!
Great to has you join us, cornelius, this forum is the best
  • #4,594
  • May 21, 2007 5:43pm May 21, 2007 5:43pm
New guy here. Loving you work Phillip. Keep it going.

What server are people using on MT4? I am having issues with timezones and where candles start etc. I missed the EURUSD TC this morning as I was using the Alpari-Demo MT4 server. However if I logged into the Money-Tec Retail server the TC signal was there at 6AM BST. I don't mind getting up early

At the moment my canldles start at 6am , 10am, 2pm, 6pm , 10pm, 2am which is on the charts , 8am, 12pm, 4pm, 8pm 12am, 4am respectively.

Those times are when connected to Money-Tec server. Any comments anyone?
  • #4,595
  • May 21, 2007 6:35pm May 21, 2007 6:35pm
Cornelius and Neilbuc you are welcome to our forum!.
Be disciplined and patient to get many pips.
  • #4,596
  • Edited 7:28pm May 21, 2007 7:04pm | Edited 7:28pm
[quote=jland;1447061]Hi guys! Looks like a good start of the week for us today!

I would like to share with you a trading card I have made based on the 4Hr MACD System of Philip. Its sort of an Idiot Card for me. I pasted it on my monitor to keep me reminded of the basic rules I have to look for whenever a MACD gives a signal. Like Philip said, don't take all MACD signals right? But sometimes when emotions sets in, its hard not to forget those simple reminders. So I made this card to keep me reminded to check whether the MACD that has formed is based on the MACD Rules and is worth taking the risk.
This file is great very useful.
  • #4,597
  • May 21, 2007 7:26pm May 21, 2007 7:26pm
Could someone please tell me the signifigance of the 200 and 365 moving averages? I would GREATLY appreciate it. Do they act as support and resistance?
  • #4,598
  • May 21, 2007 7:28pm May 21, 2007 7:28pm
Quoting Palmer
Nice way to start the week off. I took the tc signal last night off the 21 and made a good chunk off of this one. This was a textbook set-up, well at least I'm pretty sure it is. We're below the 89, price came back to the 21 and then went south again. The support line that I have has about another hour and 15min to see if price will come back to it. Either way, there in the bank....

Thanks Phillip!
Nicely done, Palmer!!!!!!! What an awesome way to start the week!

Think you have 13 toes to count all the Eur pips you've been banking lately .......SWEET!

I was out of my "zen" state yesterday...so I took no trades and hid in bed until I could play nice again.....Let's see what tonight brings!!
  • #4,599
  • May 21, 2007 7:40pm May 21, 2007 7:40pm
Quoting chrisbedo
Could someone please tell me the signifigance of the 200 and 365 moving averages? I would GREATLY appreciate it. Do they act as support and resistance?

Hi chrisbedo,

The MA's play a multi-faceted role....Yes they act as support and resistance and provide a place that we target for profit. If you study Phillip's market rhythm/motion lessons, you will start to see how price often goes through 1 MA, travels back to the 21 and then travels on to the next one.

The best way to get use to how price moves around these averages is by looking back in time on your charting platform. You will see how price is in an "up mood" when above the 89....and you will see how it changes motion after tagging the 200....(all bets are off in market direction when price is above 89 but has tagged the 200)....It's a way of gauging the "emotion" w/in the market as well when they are combined w/candlesticks and support/resistance lines. Just another tool to help you figure out the highest probability moves & help you gauge when a short term trend may be changing.

Hope this helped a bit.

Pips
  • #4,600
  • May 21, 2007 7:42pm May 21, 2007 7:42pm
Quoting chrisbedo
Could someone please tell me the signifigance of the 200 and 365 moving averages? I would GREATLY appreciate it. Do they act as support and resistance?
200 and 300 MA can help you set your TP, I suggest you read carefully the PDF file with the basic notions.
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