4 Hour Strategy (MACD) | Page 234 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 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

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #4,661
  • May 23, 2007 7:38am May 23, 2007 7:38am
Hello Pips and others, Pips I do really understand what you means by a miss opportunity. I have miss a great opportunity on the Pound to go long since monday 16:00pm ET on the 4H and instead I have got long with a not so perfect RT on Euro yesterday at 1.3459 at 12:00pm ET just to got stop out yesterday night at 1.3433 for seeing the thing this morning going up like a rocket.

I think the moral of the story is to next time only look for the perfect setup (which was the Pound and not the Euro).

At least, I am learning another meaningful lesson for the next trade.

And Pips, you are right to not chase trades as it is the surest way to blow your account enven though it is strongly tempting after a loss.

But, we are in this business for the long run and then should put aside our temporary emotional turmoil.

Very nice great move Jim on the Pound.

Very happy for you

shreem
  • #4,662
  • May 23, 2007 7:39am May 23, 2007 7:39am
Thankyou for your reply pips, I am learning something everyday. I wish you all the best.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #4,663
  • May 23, 2007 7:53am May 23, 2007 7:53am
Quoting shreem
Hello Pips and others, Pips I do really understand what you means by a miss opportunity. I have miss a great opportunity on the Pound to go long since monday 16:00pm ET on the 4H and instead I have got long with a not so perfect RT on Euro yesterday at 1.3459 at 12:00pm ET just to got stop out yesterday night at 1.3433 for seeing the thing this morning going up like a rocket.

I think the moral of the story is to next time only look for the perfect setup (which was the Pound and not the Euro).

Nice observations....look for the best opportunity out of the two or three pairs you trade. And learn from both inaction and action.

At least, I am learning another meaningful lesson for the next trade.

And Pips, you are right to not chase trades as it is the surest way to blow your account enven though it is strongly tempting after a loss. Yes, agreed...chasing is so tempting, and so dangerous! tomorrow is a new day and we will have another opportunity if not tomorrow, then the day after!

But, we are in this business for the long run and then should put aside our temporary emotional turmoil. Business sums it all up!





shreem
Shreem,

You are def. on the right road to growing your business! I really like the way you thought about trades taken and not taken and pointed out the dangers of chasing! I see many pips in your bright future (and I saw it in Alcastro's magic crystal ball ).

Pips
  • #4,664
  • May 23, 2007 7:53am May 23, 2007 7:53am
I took EUR long + 23 pips but I did not feel confident with cable.
  • #4,665
  • May 23, 2007 8:04am May 23, 2007 8:04am
Hello Pips, thank for the reply. You know, since I am dilligently studying this great method of Phillip, I am learning more and more on myself and on the proper way of approching trading.

I really believe that it is only when we can really grow in ourselves, that we can evntually acheive a great leap forward in our trading career.

I think a great system, as the one given by Phillip, and a great "cleaning up process" inside of us goes hand in hand in achieving formidable results.

And you know what, by reading and listening to all these great MP3 and posts of Phillip and all others, I really begin to feel a more mature and confident being is growing in me.

This alone, eventhough for now I have more losers than winners, is a great boost saying that I will become very successfull in the long run.

Finally, a very funny thing one of my worst defect is impatience. This business is really teaching me to get it as soon as possible

Anyway, thank to all for letting me write my feelings and sorry if it was too long

Wishing you all a great trading day

P.S. Pips, I am curious, what is the charting sofware are you using? Your charts are very interesting.

Shreem
  • #4,666
  • May 23, 2007 8:09am May 23, 2007 8:09am
Pips, you mean you're awake at 2AM? I admire your devotion! Goodluck on your next trades!
  • #4,667
  • May 23, 2007 9:09am May 23, 2007 9:09am
Quoting pips4uandme

Jim...oops, I see Tam referred you to the 1.9920ish level for IT L (I remembered wrong)...that is the two inverted hammers under the pink line at the red X
That's correct, Pips. This usually may serve as the next target once the previous IT is taken.

A lesson from the past: a quick analysis of gbp/chf can say that the third (most recent) top was taken and bulls are in control for some time now. Monthly chart can also confirm that the pair broke out from the down trendline. I meant to publish this on Monday but this is Phil's thread and I need to respect the rules. Anyway, remember we discussed some time ago how eur/jpy took the third hill and it is now trading 600 pips up. These are the lessons we need to remember.
  • #4,668
  • May 23, 2007 9:13am May 23, 2007 9:13am
Quoting shreem
Hello Pips, thank for the reply. You know, since I am dilligently studying this great method of Phillip, I am learning more and more on myself and on the proper way of approching trading.

I really believe that it is only when we can really grow in ourselves, that we can evntually acheive a great leap forward in our trading career.

I think a great system, as the one given by Phillip, and a great "cleaning up process" inside of us goes hand in hand in achieving formidable results.

And you know what, by reading and listening to all these great MP3 and posts of Phillip and all others, I really begin to feel a more mature and confident being is growing in me.

This alone, eventhough for now I have more losers than winners, is a great boost saying that I will become very successfull in the long run.

Finally, a very funny thing one of my worst defect is impatience. This business is really teaching me to get it as soon as possible

Anyway, thank to all for letting me write my feelings and sorry if it was too long

Wishing you all a great trading day

P.S. Pips, I am curious, what is the charting sofware are you using? Your charts are very interesting.

Shreem
Congratulations! you are growing up as trader.
Almost all use metatrader4 is the best chart.
  • #4,669
  • Edited 9:46am May 23, 2007 9:29am | Edited 9:46am
Hello Mkain, thank for the encouragement.

I know that everything will come in due time with the proper mindset.

Right now, I am looking a the movement of the pound around the 200SMA and see if there is an apportunity will arise in the future. Also, the price barrier of 1.9900 (looking in the past few weeks) can serve as a good resistance coupled with a trendline from May 1st and and May 9th where the price is sitting right now. Also, there is a 50% fibonnaci retracement sitting at 1.9906 from the highest high of April 14th at 2.0134 to the most recent low of May 21th at 1.9676.

If we you look at history, Pound love the 50% fibonnachi a lot of time. Why? That a good question.

So, lot of resitance around 1.9900, so will see what happens there

I know MT4 is great, I have it at home but I cannot use it at work.

That is why I am looking at a web based platform with the capability of plotting the 5-13-1 MACD settings of Phillip with GMT + 2 or even GMT time during my workings hours. So, if anybody have any idea?

I already got one with IT finance but it is based on EST time.

Shreem

Edit: Wow! Pound just broke the 200SMA, will see where it will stop.


AHgrrr! what a miss opportunity. Hope to catch the next one
  • #4,670
  • May 23, 2007 9:35am May 23, 2007 9:35am
Quoting Palmer
Just a few quick notes here. I'm really 'busy' today and can't get back to the forum until later.

For the chart:

The red vertical lines is where the chart starts to be bearish.
White E are trend continuation entries.
E (counter) are counter trend trades, conservative targets here.
Yellow E is a very quick trend continuation entry. I narrow this down to the 15min chart at times and keep the stop tight.
Blue E is where the 4hr candle closed above the 21ma. Look back at the 4hr charts and take note of the price action following the close of the candle above/below the 21ma.

I had over a 15% return on my account in the past few days. In my opinion, the trend continuation entries are the real money makers. The trend really is your friend. On a TC entry I usually move a stop loss just break even and exit the remaining contracts when I get a 'gut' feeling or there is money on the table that I want to keep. I hate giving anything back. During those multiple TC entries within the trend, those few contracts that are left at break even are closed again at a gut feeling or when money is on the table. I move those stops to the next TC contract that I leave open. My exits may differ a little from the said rules but the entries are as stated. I'm not boasting about anything here. I'm doing this to boost my confidence, and yours, trust this system. I may bend the rules here and there for my own 'taking' but the entry methodology is the same.

I have my laptop next on my nightstand and set audible alerts in MT4 when price reaches a certain area. It may be 2:45 in the morning but if there is an opportunity to bank something I'll wipe the dust off my eyes and do what I can.

Don't chase anything.
Don't guess the news. That's what Vegas is for.
Wait for the candle to close.
Moving averages, moving averages, moving averages.

I'm taking the rest of the 'day off' to do some work on my beloved 1978 Datsun 280Z. If there are any motorheads here you can take a lookee at http://www.project280z.com, that's my girl.

Back later....Trade Well.
Hi Palmer,

Very few posts have been dedicated to 1 hr ? TC signal entry method so far in the forum. Although you did not mention, I am sure that you are quite familiar with 1 hr method.

If we newbies remain to be RT, RB hunters, many of our trades will be risky counter trades. And TC signal on 4hr tends to be too late for good entry.

When you enter TC signal, do you concentrate on MACD signal and the close below 21 of 1 hr candle ? Or any other points to be taken care of ?

I hope you could help us newbies by elaborating your experience.


Hope that you continue to take good care of your 280 Z. It's a long long time ago when I saw that car in Japan last time. Your girl is called FAIRLADY Z in Japan.


P.S. Hi pips. I am still with the forum. I am gaining experince slowly slowly.
  • #4,671
  • May 23, 2007 9:53am May 23, 2007 9:53am
Quoting neilbuc
.. went long on the EURUSD @ 1.3452 and then got stopped at 1.3430, it then ran all the way back up and the 4hr cable has a huge tail now and the MACD is giving a buy.....dammit! I went long again @ 1.3453 and it now looks to me going where my analysis said it would go.

So, what have I learnt..........the big boys taking it down on important news then running it back up to where it was.

Neil
My apologies, Neil, this was not addressed to me. However, I just wanted to share some thoughts on stop-losses. They can quickly eat up someone's capital in a ranging market. I gave away too much in the past not to remember. If you feel (not by just a sheer calculation) that you have the correct setup give the price some leeway, wait until you are proven wrong or right. I do not have to be so bounded at the initial entry. Yes, I know we also face the dilemma of preserving the same capital for the fear of being wrong. But the main reason for me (I do not know what others think about it) is to enter the market for profit and I never expect a quick profit.
  • #4,672
  • May 23, 2007 10:01am May 23, 2007 10:01am
Hello Tamkras, thank for this good statement on stop loss.

I am a true believer of a strong Money Management rule in order to avoid blowing accounts. However, your statement on giving space for a trade to develop if you truly think your assesment of the market is correct according to a disciplined and methodical approach and that this "space" is fine in regard to your Money Management (no more than 2-3% on any single trade for me) plan, then, I think you are absolutely right.

Also, in this case, in some instance, we can avoid the tricks played by the major ones to push price to take lots of stops parked and then revese the trend in its original motion.

A very good statement Tamkras.

Shreem
  • #4,673
  • May 23, 2007 10:08am May 23, 2007 10:08am
Quoting shreem
Hello Tamkras, thank for this good statement on stop loss.

I am a true believer of a strong Money Management rule in order to avoid blowing accounts. However, your statement on giving space for a trade to develop if you truly think your assesment of the market is correct according to a disciplined and methodical approach and that this "space" is fine in regard to your Money Management (no more than 2-3% on any single trade for me) plan, then, I think you are absolutely right.

Also, in this case, in some instance, we can avoid the tricks played by the major ones to push price to take lots of stops parked and then revese the trend in its original motion.

A very good statement Tamkras.

Shreem
Very well said. I do not believe stop-hunting is a wide practice of hedge funds and banks' dealers but such practice do exist. They have access to market orders (money flow) and can identify spots where the market takes a breath (just a break between sessions, e.g.) and can shoot at your leg.
  • #4,674
  • May 23, 2007 10:30am May 23, 2007 10:30am
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.jpg Size: 61 KB
Attached File(s)
File Type: zip Daily Wrapup 23May2007.zip   841 KB | 1,621 downloads
  • #4,675
  • May 23, 2007 10:43am May 23, 2007 10:43am
kappa:

When there is a tc on the 4hr to the short side (price is below the 89 and has made it's way back to the 21 'area') I'll take a look at the 1hr, sometimes 30 and even 15. As long as the 21 and 8 are a good ways below the 89 and those three faster ma's are sloping down I see this as part of the ripples against the tide...The tide being short and the ripples are those minor disruptions in the flow of things. The 1hr can/will have S/R areas within the 4hr timeframe, as will the 30 and 15. I wouldn't recommend the 30 and 15 though. You have to watch those closely and the profit targets should be smaller. If I see a S/R, channel, or trendline that the 1hr is turning away from AND the MACD is turning in the direction of the 4hr trend, that's basically it. The target is back to the 8/21 area for me. And yes, the 4hr rt's and rb's are counters but can also be the 'start' of the new trend direction. Take a look back at the 4hr charts. See where price came back to the 21 area, mark that. Then go to the 1hr and take a look at the price action, S/R levels (channels, trendline) and note the MACD as well and see how it pans out......
  • #4,676
  • May 23, 2007 11:14am May 23, 2007 11:14am
Have to remember that this is a big move from a news announcement and that the USD is not any weaker, so we should see some retracement, I believe. If I see the signals of retracement then I may have to take them.
  • #4,677
  • May 23, 2007 11:22am May 23, 2007 11:22am
[quote=pips4uandme;1448377]
Quoting fxhermit

Hi FXHermit!!!

Did you get my vibe....I've been thinking of you lately! Wondering where your wise trading input had gone. & as always, your posts do not dissappoint! What wonderful insight. I learn so much from your posts and appreciate your approach to the markets.

A few weeks ago, I was talking to a trader off line, and pointed out, that someone who went long cable last year on 1 full lot would have been up around 250K (and this is w/out adding to the position during the sweet spots). The irony.....I was shut down....the trader wasn't interested in hearing how so much money could be made w/out overtrading!! Only wanted to hear how he could get in and make 20 pips today!!! Your post illustrates how we can amass positions overtime w/little risk that carry the biggest payouts for us traders by thinking about the big picture! (I think this becomes a natural progression overtime to traders....how to mix trading styles to maximize profits). Thank you so much!!

Pips
"Mix trading styles to maximize profits" is a very good way to express it, Pips. I have always believed that a professional approach to trading demands a firm command of several proven methodologies and that the big picture is not only about trading but about wealth building. Trading should be a skill or tool that provides a means to that end not the end in it's self.....

An aggressive trading methodology to capture the kinds of moves that we saw today (two take profits in the bank and the remainder stop protected in profit at 1.9807 just a bit below the broken inside top) is definately a good thing to have in your tool box. However, for all of you who are bemoaning that you missed this move, take heart and lets see if this becomes the beginning of a new trend leg. If so, remember what Phil has said about market motion. Perhaps this is a good time go back and relisten to a few MP3's and be ready when the market comes to you.

P.S. Pips, those are some strong vibes you have. Are you sure your not one of those New Age Gurus? Could be a new career in the making.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #4,678
  • May 23, 2007 11:27am May 23, 2007 11:27am
Info
Attached File(s)
File Type: zip Correction.zip   507 KB | 1,791 downloads
  • #4,679
  • May 23, 2007 11:30am May 23, 2007 11:30am
Quoting hard1head1
Tamara,

One of these days I will learn how you see those. I cant even find it after you give it to me, LOL.

Jim

Jim
Yup, Jim it is definately worth ones time to dig out Tamkras's posts on inside tops/bottoms, nesting dolls, etc.

Tamkras, you are wise beyond your years, nice call on GBP!
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #4,680
  • May 23, 2007 12:08pm May 23, 2007 12:08pm
Quoting fxhermit
Yup, Jim it is definately worth ones time to dig out Tamkras's posts on inside tops/bottoms, nesting dolls, etc.

Tamkras, you are wise beyond your years, nice call on GBP!

Is there a file that Tamkras has these in or just go about trying to find the posts on these? Thanks all!
60 traders viewing now