4 Hour Strategy (MACD)

Quoting pips4uandme

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Hi Mike,

This post is deadly serious!! You must read the forum and practice before trading live! Your trade on CAD was GREAT! & you did a really nice job with it....Congrats on the pips!

This method is always discretionary. You need to analyze the chart using your perfered method of finding S & R. Also, identification of TL....

When counter-trend trading (i.e. going long on cad)....you want to be less aggressive w/your initial profit targets and protect profit early (have you moved your last position to break even?)....You seem to have a good understanding of the market rhythm....That is AWESOME!!!!
Once you have protected profit, or moved to BE, you have positioned yourself for a further move or break out.

The settings are applied to close and the initial times were when Philip traded b/c of his schedule.

OK....I really want to encourage you to continue trading, but you absolutely have to demo trade first. Please tell me I have misread the post, and you are demo trading. You need to figure out how you will determine your support/resistance zones; How you will place your stops (which must be outside of support rather than on support). Your support lines/resistance lines will provide you with TP's in addition to the MA's. Some traders use pivots, Inside tops, fibs, etc. You have to figure out what works for you. We also analyze the emotion in the market via candlesticks. Look at price movement and then confirm w/the MACD. PLEASE read through the thread to get a feel for the system, listening to all of Phillips MP3's posted on pages 289 and 290.

USD/CAD is difficult to trade b/c it will give you a really nice RB only to turn into a TC around the 0800 GMT candle. I call it the fakey....and CAD is great at it!! Looks like a double bottom has formed, and price very well could be going to the 89....especially w/Canada's Independence day over the weekend and ours tomorrow ....the volume is thin in trading....

Hope this post is helpful to you....You really did great!! Please take your time and practice trading before using real money. It seems very easy....but it is amazing how fast one can blow through their first account.

Wishing you all the best in your trading education,

Pips

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Quoting Quickdraw

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Hi Phillip,

I'm new to this thread, so I haven't read the entire thing yet, but I would like to know... do you trade full-time? If not, then COULD you go full-time and support yourself on your trading if you wanted to?

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Quoting Phillip Nel

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If I could I will most definetley be able to support

Study the summary Lessions 1-13 on page 289 from post 4335 onwards, especially the ones on Market Rhythm.

Good luck

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Quoting 919

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Hi Philip Thanks 4 Sharing
What is your broker (i mean your broker that u get signal from that & insert Example in e-book) ?
because my broker show me some difrent signals that in your example for example about higher low

thanks Philip

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Quoting shreem

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Hello 919,

the broker and charts that Phillip is using and a lot of people are using to get the same time and signals that Phillip is MIG investment SA with platform MT4. This GMT +2 and currently GMT + 1 with the current daylight saving.

Just go the below link and you can download a free 30 days demo that you can renew after with another name.

http://www.migfx.ch/en/open-an-accou...unt/index.html


Hope this help

Shreem

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Quoting dewordman

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hi phillip,i love your trend i stumbled on it once but then i hated macd but after some trading and studing,i discovered macd is the best stuff for a trader,can you please post that mp3 on trendlines again,i tried to download the one on page 289 ,but it didnt just open ,my winzip complained that its bad or something... and if there is anyone that has it ,you can help me also

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Quoting BIL2205

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Euro found resistance at 1.3630 and now ranging between 8MA and RES. it Still has not touched 21 Ema and a lot of small candles including spinners. Now price broke through the 89 , came back to the 21., bounced off the 21 and has been pulling back to 8 MA only. so a very strong move up. speed very fast since moving along 8MA. At the same time MACD moving down with every bar. Couple of times bullish candles indicated a TC up , especially the candle after the doji looking like a morning star,but MACD did not support it so kept me out of making a hasty decision. Now price is still above 89 so we are in bullish mode but i see it flattening out instead of curving up at the end. $ holiday today so not much action going on at the moment. But i do see the price getting sqished between 2 recent trendlines making a triangle, so may be a break out on the horizon up, or down, especially since big news day tommorow. I am on the sidelines for now. All comments welcome.
Best wishes.
NAdia.

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Quoting sindutzz

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Hello Phillip,

I'm from Indonesia, I just want to say thank you for your kindness to share this system Need a month for me completely finish to read all pages. And I trade live your system for the last 2 month combining with my system.

I believe this thread is the most educated thread I ever read
And i like to thanks too to all contributors (Pips, Digital, Palmer and other), a lot of positive people here which I really like. Wishing you all the best in your trading.


I'm a candlestick pattern fan. Especially Engulfing and Star pattern.
And i found that your MACD setting confirm good signal.

So I try to combine your MACD and my favorite pattern and backtesting it for the last 5 month. And I found the result is amazing even when we follow it blindly (ignoring S/R, Trendline, MA's).

The maximal drawdown is -120 pips (April 2007) but we still have opportunity to get +195 pips profit at that month.

And just like you mentioned before, I agree that RT and RB is a risky signal, but when it followed with Engulfing or Star pattern it will be a very profitable signal.

I attach the results of the system which I develop using you MACD setting and combined with Engulfing and Star pattern. Any suggestions will be appreciated.

I do not want to make a new thread about my system since I believe my system is belong to you and I hope it can be a little contribution for this positive community.

Wishing you all the best.

*Sorry for my bad english

Aldhy

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Quoting MD27

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Hello,

I've been following this thread since mid May, and posted a couple of times, thanking Phillip and asking some questions. I did take the lessons after page 289 (if I get the number right), and I am also reading from the beginning. And I understand most (if not all) of the analysis made in the thread.

So I feel I have a reasonable feeling of the system, but I am staying out most of the time, and the few times I go in, the results are not so good...

I've been "analysing myself" why this happening...

- Looking at the way I "try" to trade, I guess I'm trying to enter when the trend is in its early stages.
I'm scared to enter after the price has moved a significant amount of pips, even with TC's on MACD...
That recent post on H1 "re-enter"/adding off the 21 maybe something I should consider, but it is hard for me to pull the trigger in those circunstances...maybe due to "trading traumas" of the past...

- So I find myself trying to enter on the counter-trend setups (to get in at an early stage). As these are not very recommended, and difficult to detect when they are good...i'm afraid of pulling the trigger...or when I pull...it's not good

- Funny though, because I'm getting the motion of the market...I'm detecting when price is probably going to retrace or at least stall...

Then we get those mind blowing recordings from Phillip...I guess it hapenned to many here. That recent one about "focusing" really got me thinking. It was nothing new to me, but the way it was put...made me look at what I was doing:
- Apart from this one, I follow several threads on several forums...Trying to pick up some good strategies, systems, indicators to improve my trading. I guess too many at the same time. Maybe best to master a system and then look a bit around...easier said than done.
- I'm defining, developing and testing 3 ea's, and I'm also testing other people's ea's.
- I have charts for the 4 majors, that I've been following for more than a year now...but since reading about this strategy, just started to look at 3 more
- I'm not going into details about other things in life, like a small child that i have, because we all have other things that require our attention.

How is that for focusing.....................................??

So, I suppose that if I want to have success with this strategy, I really need to work on these 2 issues...

I'm sorry for the long post, I needed to get it out.

Maybe the skype discussions can help. I know the people in Phil's 5M system have a skype chat (which I would like to join), but I saw a recent post (or was it Phil on an mp3?) mentioning there's also something for the H4 system.
- Can someone please add me? My skype contact is: jmadept

Thanks

MD

PS: sindutz: your analysis is very interesting, but in your backtest, you take into account the exits at the best point (the highest or lowest of the move). In real time, that is almost always never the case.

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Quoting MD27

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Hello,

I've been following this thread since mid May, and posted a couple of times, thanking Phillip and asking some questions. I did take the lessons after page 289 (if I get the number right), and I am also reading from the beginning. And I understand most (if not all) of the analysis made in the thread.

So I feel I have a reasonable feeling of the system, but I am staying out most of the time, and the few times I go in, the results are not so good...

I've been "analysing myself" why this happening...

- Looking at the way I "try" to trade, I guess I'm trying to enter when the trend is in its early stages.
I'm scared to enter after the price has moved a significant amount of pips, even with TC's on MACD...
That recent post on H1 "re-enter"/adding off the 21 maybe something I should consider, but it is hard for me to pull the trigger in those circunstances...maybe due to "trading traumas" of the past...

- So I find myself trying to enter on the counter-trend setups (to get in at an early stage). As these are not very recommended, and difficult to detect when they are good...i'm afraid of pulling the trigger...or when I pull...it's not good

- Funny though, because I'm getting the motion of the market...I'm detecting when price is probably going to retrace or at least stall...

Then we get those mind blowing recordings from Phillip...I guess it hapenned to many here. That recent one about "focusing" really got me thinking. It was nothing new to me, but the way it was put...made me look at what I was doing:
- Apart from this one, I follow several threads on several forums...Trying to pick up some good strategies, systems, indicators to improve my trading. I guess too many at the same time. Maybe best to master a system and then look a bit around...easier said than done.
- I'm defining, developing and testing 3 ea's, and I'm also testing other people's ea's.
- I have charts for the 4 majors, that I've been following for more than a year now...but since reading about this strategy, just started to look at 3 more
- I'm not going into details about other things in life, like a small child that i have, because we all have other things that require our attention.

How is that for focusing.....................................??

So, I suppose that if I want to have success with this strategy, I really need to work on these 2 issues...

I'm sorry for the long post, I needed to get it out.

Maybe the skype discussions can help. I know the people in Phil's 5M system have a skype chat (which I would like to join), but I saw a recent post (or was it Phil on an mp3?) mentioning there's also something for the H4 system.
- Can someone please add me? My skype contact is: jmadept

Thanks

MD

PS: sindutz: your analysis is very interesting, but in your backtest, you take into account the exits at the best point (the highest or lowest of the move). In real time, that is almost always never the case.

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Quoting BIL2205

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Hello MD27, after reading your post i feel like i am looking in a mirror. It is amazing how different people can go through similar phases. I went through exactly the same things, still going through some. i was doing counter trend trades and not pulling the trigger on TC not knowing how far it will go , so problem was profit target. while in counter trend it is easy to set a profit target , the nearest MA which is usuallly the 8EMA. resulting in few losses, some BE and also couple of little gains. ( all on demo though). Phillip's recent post About focus really stuck in my mind. and i have been writing everything down , even making a table of hourly progress where the price and MA s are also candle emotion and i am happy to tell i have made some pips this week(now live with micro lots only) money management is also a big part of trading.I have only 2 major pairs i focus on cable and euro. before i would look at too many and get nowhere.
I also have a 2 year old who keeps me disrtacted but whatever time i sit on the charts i try to maximize with focus on what am i looking at, not just eyeballing. It might sound crazy but i even talk out loud to myself what i see and write it down. I have deleted every other indicator for now bec it can get distracting and like some one suggested conflicting(thankyou). I have leaned to Listen to phillip. Trend lines/ support , resistance / daily pivots realy help me set a profit target on TC signals. I still read the rules everyday and listen to Mp3 over and over. Because even when i think i know the system there is always something more. I can go on forever but just wanted to say take it one step at a time and you will get there. Good Luck.Always willing to help.
Nadia.

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Quoting Phillip Nel

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It is using the MACD system only with high probabilty trades and it takes lots of patience. Sometimes a trade not taken because it did not give a candle pattern sometimes run away and give lots of pips. Then it is difficult and a lot of discipline not to jump in the next time on similar situation. Thanks for sharing it with us. Those two candle patterns(engulfing, and star candles) are the 2 most reliable in terms of showing the emotion.

If you stick to the rules set out in your document and follow it to the letter you will be successfull.

This is a system that might produces less trades but more accurate ones

Thanks again
Phillip

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