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4 Hour Strategy (MACD)

  • #5,021
  • Jun 12, 2007 10:31am Jun 12, 2007 10:31am
Hi Pips:

I read your post #4997, and was very helpfull, but could you help me with a trade setup, looking at swing trading, because I have a day job, cant trade intraday. Will be able to trade after 6.30pm CST.

Could you advice on which MA's to follow, and could you explain in detail how to take the setup, for swing trade. I appreciate the time you put to explain us all.

If you could explain on the chart would be great, says more then any words.

Thanks
Zee
  • #5,022
  • Jun 12, 2007 11:09am Jun 12, 2007 11:09am
Quoting O'Zeeke
Thanks for the response Pips, now if i can translate your answer into DOGGY, i can have him enter the trade as well as wake me up when to get out. Take care


Kappa:

Here's a copy of my chart to explain the long I entered at 9AM PST yesterday = Noon ET = 16:00 GMT

The purple line is the double (w/in 1 pip) high that I wanted to see a close above. This level corresponded w/a gap on my hourly charts from the weekend. MACD confirmed long. I exited at the exit sign...(and I probably could have kept trade open since MACD isn't giving me a BOZ from 21....but I'm still waiting (maybe the sell will come at a better price)...yes, you're w/in a couple pips of the level I have for IT L (1.9743ish). Hope this helped answer the questions from your PM...

In hindsight, I wish I had entered at the support line (the long tail from the piercing candle bounced off an IB....but I was too chicken to enter on a Friday

Best,
Pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 0612074hr.gif Size: 20 KB
  • #5,023
  • Jun 12, 2007 11:12am Jun 12, 2007 11:12am
Quoting ZeeTrader
Hi Pips:

I read your post #4997, and was very helpfull, but could you help me with a trade setup, looking at swing trading, because I have a day job, cant trade intraday. Will be able to trade after 6.30pm CST.

Could you advice on which MA's to follow, and could you explain in detail how to take the setup, for swing trade. I appreciate the time you put to explain us all.

If you could explain on the chart would be great, says more then any words.

Thanks
Zee
Hi Zee,

Just follow Phillip's system as outlined using the daily chart. You won't have as many trade opportunities, but the system is the same, from what I gather.

Wishing you many pips!
  • #5,024
  • Jun 12, 2007 11:16am Jun 12, 2007 11:16am
Hi Pips

Thanks, but where do I find his system, please help
Zee
  • #5,025
  • Jun 12, 2007 11:17am Jun 12, 2007 11:17am
Boy, did I ever fib when I said no more posts today....this really is the last one....

Phillip, You truly amaze me!!!

I have heard you from the beginning of the thread saying you go from Monthly down for your lines.....really....I heard....but, I never listened
Looked at weekly and thought that was good enough.....until today...when I looked at your pdf. and saw the amount of info on the monthly chart....

Then I looked at mine and was amazed at what I saw! Holy Mollie....We truely have levels at prices hard to imagine!! Thank you again for making me see something that I neglected before!

Pips
  • #5,026
  • Jun 12, 2007 11:22am Jun 12, 2007 11:22am
Quoting ZeeTrader
Hi Pips:

I read your post #4997, and was very helpfull, but could you help me with a trade setup, looking at swing trading, because I have a day job, cant trade intraday. Will be able to trade after 6.30pm CST.

Could you advice on which MA's to follow, and could you explain in detail how to take the setup, for swing trade. I appreciate the time you put to explain us all.

If you could explain on the chart would be great, says more then any words.

Thanks
Zee
Dear Phillip,
I am currently the administrator for the DailyFX Forum and we have been revamping it to create a unique and forum where traders can interact not only with other traders but also our DailyFX Analysts, Course Instructors and special Guest Traders. I am very impressed with the quality of your posts and would like to invite you to take a look at our forum to potentially become a special member as I believe your contribution would greatly add to the forum. Please let me know if this is something you might be interested in, and I would be happy to send you more details.

I received this E-mail and for those people interested on a daily end of day strategy I will let you know as soon as this Forum is up and running so we can discuss daily analyses and strategies.
Phillip
  • #5,027
  • Jun 12, 2007 11:37am Jun 12, 2007 11:37am
Quoting ZeeTrader
Hi Pips

Thanks, but where do I find his system, please help
Zee
Look for pdf file in attached files (clip icon) before enter to this thread.
  • #5,028
  • Jun 12, 2007 12:01pm Jun 12, 2007 12:01pm
info
Attached File(s)
File Type: pdf UsdJpy trendlines.pdf   263 KB | 1,579 downloads
File Type: zip UsdJpy trendlines.zip   822 KB | 1,507 downloads
  • #5,029
  • Jun 12, 2007 12:15pm Jun 12, 2007 12:15pm
Quoting Phillip Nel
Dear Phillip,
I am currently the administrator for the DailyFX Forum and we have been revamping it to create a unique and forum where traders can interact not only with other traders but also our DailyFX Analysts, Course Instructors and special Guest Traders. I am very impressed with the quality of your posts and would like to invite you to take a look at our forum to potentially become a special member as I believe your contribution would greatly add to the forum. Please let me know if this is something you might be interested in, and I would be happy to send you more details.

I received this E-mail and for those people interested on a daily end of day strategy I will let you know as soon as this Forum is up and running so we can discuss daily analyses and strategies.
Phillip
thanks for sharing both your methods on this forum i like them both and have began paper trading them, hope they dont end up on a commercial website like that. dailyfx is just one big add selling fxcm services, be a shame for them to steal you from forexfactory.
  • #5,030
  • Jun 12, 2007 12:34pm Jun 12, 2007 12:34pm
I havent registered with them yet. If it is a commercial site I will not take part. Then I will rather run a daily strategy thread on FF. Can you people confirm its status as a commercial site. Thanks for the info.
Phillip
  • #5,031
  • Jun 12, 2007 12:38pm Jun 12, 2007 12:38pm
Looks like they want to piggyback on your good efforts. I agree you are better off independent with your own site!!
  • #5,032
  • Jun 12, 2007 12:41pm Jun 12, 2007 12:41pm
Dear Philip & Pips,

Thank you so much for your generous help and in giving us your words of wisdom. Pips, its nice that you always take time answer all our questions and/or requests. I know Phil also needs a break and you (Pips) have always been around to accommodate our concerns.

About the trendlines I guess I just have to reverse my thinking that they are confusing me. But instead they are Guiding me to my point of entry or exit.

Again to both of you, thanks for everything!

Sincerely,

Jland
  • #5,033
  • Jun 12, 2007 12:56pm Jun 12, 2007 12:56pm
Quoting Phillip Nel
I havent registered with them yet. If it is a commercial site I will not take part. Then I will rather run a daily strategy thread on FF. Can you people confirm its status as a commercial site. Thanks for the info.
Phillip
Hi Phillip,

DailyFx is belong to FXCM.

James
  • #5,034
  • Jun 12, 2007 1:30pm Jun 12, 2007 1:30pm
Quoting Phillip Nel
I havent registered with them yet. If it is a commercial site I will not take part. Then I will rather run a daily strategy thread on FF. Can you people confirm its status as a commercial site. Thanks for the info.
Phillip
Dailyfx is only for FXCM real account users, Stay in FF this is your home where all started and remains till now Phillip.
  • #5,035
  • Jun 12, 2007 1:33pm Jun 12, 2007 1:33pm
Thanks for the feedback. I will start a daily thread for those interested on FF. It has been one big pleasure and will continue to be on FF.
Phillip
  • #5,036
  • Jun 12, 2007 1:57pm Jun 12, 2007 1:57pm
Quoting ZeeTrader
Hi Pips

Thanks, but where do I find his system, please help
Zee
Looks like you and I are in the same boat, Zee. I came over here from Phillip's excellent 5 minute thread having read all that (only 1500 posts), now successfully trading it, and I'm wondering the same thing; do I really have to read through 5000 posts? The answer is undoubtedly yes, so I'm taking the 'how do you eat an elephant' approach, one bite (post) at a time.

This may help you though. If you go back to the first post where Phillip introduced the system, there's a pdf document that lays out the plan. I think someone updated it so it reflects the latest refinements. Read that and understand it.

What I am in the process of doing now is reading through everything from page one as much as I can manage every day, taking time to read over any new posts for the day (up to #75!), and also backtesting the strategy so I can get comfortable implementing the process.

I'm sold on this strategy and I have barely begun yet. Many thanks to Phillip for his consistent and selfless efforts, and to the others here who have become successful and are sharing their knowledge. If any of you have any further ideas on how to study and understand this, please let me (us) know.

Thanks again to all,
Richard
  • #5,037
  • Jun 12, 2007 2:19pm Jun 12, 2007 2:19pm
Quoting Phillip Nel
Thanks for the feedback. I will start a daily thread for those interested on FF. It has been one big pleasure and will continue to be on FF.
Phillip
Hi Phil,

Where is your 5 mins thread?

Thanks
  • #5,038
  • Jun 12, 2007 2:39pm Jun 12, 2007 2:39pm
Quoting Forex4H
Hi Phil,

Where is your 5 mins thread?

Thanks
I hope you don't mind my answering for Phillip, but it's called "5Min Intraday System" under Trading Systems. Sorry I don't know how to put the link in here. Phillip says it helps develop your patience, but it also consistently delivers short term gains.
  • #5,039
  • Jun 12, 2007 2:48pm Jun 12, 2007 2:48pm
Dear all

Pls would some body explain to me the round top/bottom should be taken only from line 15 or it can be taken from other lines (30,45) and which case is the most accurate.

Many thanks in advance

ammar
  • #5,040
  • Jun 12, 2007 3:03pm Jun 12, 2007 3:03pm
Have closed my U/J trade at breakeven, was too tired to watch the price stucked for two days. Then listened to the Phillip's mp3, would have never figured out that it was a barrier since 1980! Thanks Phillip, learn something everyday.
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