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4 Hour Strategy (MACD)

  • #5,601
  • Jul 5, 2007 5:14am Jul 5, 2007 5:14am
Thanks for the support guys and "gals".

I just needed to get it out...shouting at the pc and punching the table are "activities" that do not give any feed back...

Yes it's nice to see others going (or have gone) through the same, that's also why the chat is a good idea.

Skype:
- I cannot get in the "daily macd strategy chat" (the link posted by Phil on page 358). Or better, it opens the chat window, so I believe I get in, but it says permanently "connecting to admin, please wait"
Is it because I'm not added yet (I have skype installed recently but i never used it yet)?
- Or is there another way to communicate via skype with Phil Nel's systems users?

Thanks

MD

PS: Digital Dean: i do not have yahoo messenger, only msn. Can these 2 systems communicate?
  • #5,602
  • Jul 5, 2007 7:36am Jul 5, 2007 7:36am
[quote=BIL2205;1485670]Hello MD27, after reading your post i feel like i am looking in a mirror.

You will laugh but it's my reflection too . But I hope that I recover with a kind help of Pips and of course Phillip. I can tell you what I did: first of all I have deleted all charts except E/U and have decided to add one more only after I backtest E/U on full data I have on my platform (4h of course). I trade this system and sometimes when I need to open a trade I look at "5 min" Phillip's system. I read only this forum and sometimes "5 min" forum. I sometimes go to Skype, but noticed that I am very easy influenced by others opinion and put this ahead of my initail plan, may close the position or open, and then regret, and of course it's only my fault! I recieve on e-mail news and calendar everyday. I have posts on the wall near the screen like: PATIENCE, Stick to your paln! etc . Sometimes it helps, sometimes not. And of course I have a trading journal, you can't imagine how easy to complete it when you have only one strategy to follow. Every day I start with a new list and I write what I see every 4hour and what I anticipate (very good word Phillip) market to do, and when I see it I am in. No hesitation. If I have temptation to open a position without a signal or written plan, then I sit on my hands, or walk away (not always, nobody's perfect ). So, what do I usually do, I look at the current price, do backtest and read books on Forex. Nisson "Candle Patterns" is great, it gives so much confidence in trading! So I am focused. At the end I can say, I am not much in a profit, but I treat it like a college with professors like Phillip, Pips, Tamkras, Palmer and many other wonderful people.
  • #5,603
  • Jul 5, 2007 7:52am Jul 5, 2007 7:52am
Hello all,

I thought there is also a 1 hour system of Phillip.
Can anyone point me to it?

Thank,

FP
Posting Demo charts, mirroring some of them live.
  • #5,604
  • Jul 5, 2007 8:22am Jul 5, 2007 8:22am
forexpiet:

The 1 hour system is part of the 4 hour method for re-entering the trend as a 'Trend continuation'...
  • #5,605
  • Jul 5, 2007 8:24am Jul 5, 2007 8:24am
Since the smartest people on FF are part of this this thread , I figure that my answer will be found here...

My pop-up prices (F10) are lost in the task bar...somewhere and I can't get the window to show up. When I press F10 the MT4 window is inactive and the pop-up price window is active somewhere 'else'. I've restarted MT4 as well but the window is still ....in the void...A rift in the space-time continuum perhaps? If so, how do I get back to normal space?
  • #5,606
  • Jul 5, 2007 9:03am Jul 5, 2007 9:03am
Just a question: if you are into a trade (for example EUR/USD) do you enter an other trend (for example USD/CHF), after a MACD signal obviously?
Today I was EUR/USD long (for a "trend continous") and USD/CHF short (for a "Zero bounce") and I had been stopped two times. Total -92 pips!!!
Thank you for answer
  • #5,607
  • Jul 5, 2007 9:12am Jul 5, 2007 9:12am
Quoting Palmer
forexpiet:

The 1 hour system is part of the 4 hour method for re-entering the trend as a 'Trend continuation'...

Palmer,

Have you recently had multiple monitors set up on MT4 if you have you need to fetch it off of the other monitor, i have this problem all the time when i switch from 2 monitors to 1.

hope this solves it for you.

-D-
  • #5,608
  • Jul 5, 2007 9:18am Jul 5, 2007 9:18am
Quoting deforexit
Just a question: if you are into a trade (for example EUR/USD) do you enter an other trend (for example USD/CHF), after a MACD signal obviously?
Today I was EUR/USD long (for a "trend continous") and USD/CHF short (for a "Zero bounce") and I had been stopped two times. Total -92 pips!!!
Thank you for answer
Hi,

I didnt take the eurusd TC because of the very strong weekly resistance high at 1.3665 which was only a few pips away.

I know that the eurusd & usdchf is strongly correlated so you have to be careful not to take 2 trades and end up simply doubling up on you trade as if one losses more than likely the other will too.

I have a simular proble with the eurusd and usdjpy.

hope this helps or if i am mistaken someone can correct me.

-D-
  • #5,609
  • Jul 5, 2007 9:19am Jul 5, 2007 9:19am
Quoting Phillip Nel
If I could I will most definetley be able to support myself. I have old people that I am looking after and dont want to take the risk to go full time yet.
I was at home today and made 55pips on 4 trades. 25 on 4Hour sistem, 10 on 5min system and 20 on 15min system. And today was not so easy trading. If you want to be successfull you have to study the motion of the market. If you know that you can use about any indicator to support your knowledge of the motion.

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

Good luck
Uh oh, 15 minute system? I haven't heard of this one yet. Did I miss something? I have only read about 1/2 of the thread so I may not have gotten to it yet. Can someone let me know please?

By the way, backtesting by printing out the charts, then hand drawing notes, entries, etc. is very enlightening. Thanks to Palmer for that one.


Richard
  • #5,610
  • Jul 5, 2007 9:36am Jul 5, 2007 9:36am
Quoting Richard7
Uh oh, 15 minute system? I haven't heard of this one yet. Did I miss something? I have only read about 1/2 of the thread so I may not have gotten to it yet. Can someone let me know please?

By the way, backtesting by printing out the charts, then hand drawing notes, entries, etc. is very enlightening. Thanks to Palmer for that one.


Richard

Hi,

The 15 min system has not been introduced due to the fact that Philip has so much going on already.

-D-
  • #5,611
  • Jul 5, 2007 9:42am Jul 5, 2007 9:42am
Richard7: Glad it helps..I do that at the end of each month..

DD: I use to do that with multiple monitors. Now, I just use the laptop mainly for trading. I've got a few different profiles saved in MT4 for each currency with multiple charts. I just select the profile for the currency and that's it. It's really convenient that way. I also have a profile set up for the chart printing thing for the white background charts so it's all formatted with the profile.

Still can't get my @$%*&!# pop up price window to show...
  • #5,612
  • Edited 10:53am Jul 5, 2007 9:44am | Edited 10:53am
:surprised This is how my charts look like today. hope u guys are making some pips.I had decided to stay out with all the news. Not enough experience yet. Just took one swissy short Very early morning (us ET) TC ,high prbability trade,which worked out fine.Hopefully the market will settle down soon and get back in the flow. Good luck .
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,613
  • Jul 5, 2007 9:46am Jul 5, 2007 9:46am
Hello,

I wonder how you guys handled the EurUSD today.

In my demo I opened long on the opening of the, what devoleped to a, doji.

Was that a good choice?


thanks,

FP
Attached Image (click to enlarge)
Click to Enlarge Name: 4h eurousd 050707.jpg Size: 60 KB
Posting Demo charts, mirroring some of them live.
  • #5,614
  • Jul 5, 2007 9:47am Jul 5, 2007 9:47am
Quoting deforexit
Just a question: if you are into a trade (for example EUR/USD) do you enter an other trend (for example USD/CHF), after a MACD signal obviously?
Today I was EUR/USD long (for a "trend continous") and USD/CHF short (for a "Zero bounce") and I had been stopped two times. Total -92 pips!!!
Thank you for answer
I think it is depends from your money managment ,your SL ...how many % of account you able risk in open positions ...but ..usd/chf and eur/usd is correlation pairs and I think is dangerous be on together ...double loss
  • #5,615
  • Jul 5, 2007 9:58am Jul 5, 2007 9:58am
Thank you so much Digit and kuky,
I understood: EUR/USD TC was a wrong trade form the begin.
I have to pay more attention to supports and resistences. I looked only at MA's.
Cheers
  • #5,616
  • Jul 5, 2007 10:08am Jul 5, 2007 10:08am
Taking what the market offers:

The 1 hour entry...

The 4 hour USDJPY was bouncing off the 200 and there were two trendlines acting as support. I went long at the close of the 1 hour bar, dashed vertical line, and re-entered another lot later. I had an eye on the pivots and Fib#'s as well. I then narrowed this down to the 15 min chart and made a mental note that if price closed below R1 on the 15 (a few pips at the 38.2 Fib#), which it just did, I would exit. Got out w/ 22 pips to the plus side.
Attached Image
  • #5,617
  • Jul 5, 2007 10:10am Jul 5, 2007 10:10am
Here's the 4 hour..price returning to the south right now....
Attached Image
  • #5,618
  • Edited 10:30am Jul 5, 2007 10:29am | Edited 10:30am
I'm not sure why these thoughts occur to me after a post and have to post again 5 minutes later but, either way...

This all has to do with being in touch with the market, the rhythm. I've been picking off pips left and right from the USDJPY the past few weeks because this is the pair that I have been focused on for the past several weeks. It's 'usually' the EUR$ or $Yen. For some reason, I just haven't been 'comfortable' with the EUR$ regardless of the signals the charts were showing. I took a 1 hour Tc from the EUR$ last week and it promptly handed me a loss. I went back over the chart and for some reason I don't even see the signal that got me in in the first place. I'm still learning the 1 hour charts so that's my excuse I guess. The 15min charts and pivots are from another method but when I feel like that the charts are stagnant, if I can get 20 then I'm fine with that. Right now I'm only looking at charts when the hour bar is close to closing. I just don't 'feel it' right now. I'm not even sure what the take home message is with this post...maybe if you aren't in touch with the rhythm then walk away for a while. Basing an entry purely on technicals is only part of the method...OK, the 'sermon' is over.
  • #5,619
  • Jul 5, 2007 10:40am Jul 5, 2007 10:40am
The first thing of the week is to mark the coming news and plan when will you stay away. Very important
Attached File(s)
File Type: zip Daily Wrapup 05July2007.zip   770 KB | 1,532 downloads
  • #5,620
  • Jul 5, 2007 11:05am Jul 5, 2007 11:05am
Quoting Phillip Nel
The first thing of the week is to mark the coming news and plan when will you stay away. Very important
Hi, phillip i have Interbank and i got the TC signal on Euro. it looked fine but the reason i did not take it was bec i had decided in advance to stay out bec of the news. So no Pips made on euro or cable but none lost either. Thankyou for keeping us in check.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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