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4 Hour Strategy (MACD)

  • #5,881
  • Jul 26, 2007 1:29pm Jul 26, 2007 1:29pm
Could be a short building off of the 89, going to wait and see.
Keep taking CT trades, I need more money
  • #5,882
  • Jul 26, 2007 2:09pm Jul 26, 2007 2:09pm
Quoting pips4uandme
Hi Ira,

What great advice!! It is very difficult to get over the "sting" of losing pips...but, if we are scared, we miss the good trades only to re-enter on a poor signal. Thank you so much for writing this post. I bolded (word?) the phrases that really impacted me! Thank you again!! (& welcome back!!)

Pips
Pips and Ira, sorry for being on the sidelines if I may...Pips, your point of missing good trades because of fear is a great one. We have to trust our analysis, there is no doubt about it.

When Ira asked me (probably, jokingly) about the monthly IT's of USD/JPY, I never knew where this could take me but I made the analysis shared on FF (do not tell me then IT does not work on the monthly..) Acting upon your analysis is quite a different subject and fear of mistake, losing 10-20 pips may overwhelm us. Developing a sense of the winning streak is stage two in growing ourselves as traders and probably the most important one.

But it is nice to be back... Tam
  • #5,883
  • Jul 26, 2007 3:04pm Jul 26, 2007 3:04pm
I, also want to say thank you, Fari, for sharing your trades and then for doing your own analysis and opinion of them. It takes a lot of courage and confidence to share our losses. It's so much easier to share our successes. I find that, sometimes, when I share my losses, I become them, and that I definitely do not want! And you are not! You're standing up for your analysis where you think you were right. Good for you. And you're giving us a chance to learn. Thanks again.

Nadia, I'm neither a fast nor a slow typist. Sometimes, my fingers are too large for the keys. This is just the way I feel I can best contribute right now. I am learning a lot from all of you, and I need to give back somehow.

The zipped attachment is a written wordpad copy, with the pdf chart, of the Fari Losses mp3 for those who have trouble understanding spoken English. The best to all!
Attached File(s)
File Type: zip Phillip Nel - Fari 4Hour MACD Losses.zip   93 KB | 785 downloads
  • #5,884
  • Edited 4:08pm Jul 26, 2007 3:09pm | Edited 4:08pm
Quoting Phillip Nel
Info

I am thinking the same thing as your MP3 said, hit the 89MA and sell off some more down to the .690 lvl's again.
Keep taking CT trades, I need more money
  • #5,885
  • Jul 26, 2007 3:22pm Jul 26, 2007 3:22pm
I will say this; you’re not a trader until you blow out your account a few times. I remember in 1997 I watched someone turn 60k into 8 mill and lose it all, but at that time you can throw a dart at a chart and make money. I have blown out my account 3 times now and in the 10k+ mark each time. I will never forget Sept 11, watching it on TV as I was full long on CHKP. That was my last blow out and that killed me emotionally. I still believe emotion is 90% of trading, people make millions on paper but then when it goes real money they lose; only difference is emotion. At this point in the game if I am up or down it does not matter and it is not exciting anymore what makes me the maddest is when I trade and don’t follow my plan, if that happens I have to call it a day. Take your time, find what works for you. I can trade pretty much any style and make money, trend / counter trend / time / fib's / whatever. It's knowing what you are going to do if things go bad, winners are easy it's cutting the losses fast regrouping and following the rules. I also printed out ever day on the SPX from 1997 - 2004 about 12,000 pages and went over every day. 14+ hours a day work days for 6 years and trading is the hardest thing I have ever done in my life but it's the most rewarding.
Keep taking CT trades, I need more money
  • #5,886
  • Jul 26, 2007 5:59pm Jul 26, 2007 5:59pm
This is the zipped, written wordpad copy of Phillip's daily wrap up for 26July2007 for those who have problems understanding spoken English.

Thank you, Ryanmcd, for sharing your experiences. I would like to reach that state of boredom with my trades. They're still way too exciting, but I believe that focusing on your plan, as you were saying, is where it's at. Only be upset if you don't follow your plan. Good words.
Attached File(s)
File Type: zip Phillip Nel Daily Wrap up 26July2007.zip   2 KB | 568 downloads
  • #5,887
  • Jul 26, 2007 6:14pm Jul 26, 2007 6:14pm
Hi folks, I've been reading all your posts for quite awhile. Decided I'll be a part of this group. There's alot of talent here and some very good traders. I hope to learn more.

What do you think of the USD/JPY daily trendline from mid-May? I'm thinking bounce but I'm not jumping yet. Edit: CCi and MACD in oversold territory.

http://www.forexfactory.com/attachme...1&d=1185491632
Attached Image (click to enlarge)
Click to Enlarge Name: UJ daily.jpg Size: 67 KB
  • #5,888
  • Jul 26, 2007 7:03pm Jul 26, 2007 7:03pm
I want to thank you again for helping each other to become better traders.

I want to contribute a little to the thread also:

for my Trading log I wrote a very small EA Indicator that goes through the trading history, makes a Screenshot of every trade which comment begins with an "4h" and save it to a folder. If you like to change the prefix you need to change it in the EA.

It writes the screenshots to the folder :

.\experts\files\shots

in most cases it will be:
C:\Programme\MetaTrader 4\experts\files\shots

Copy the indicator to the directory: C:\Programme\MetaTrader 4\experts\indicators

and compile it once.

The output looks like that:

kr
panther_trader
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2007_6_15_13_37.jpg Size: 47 KB
Attached File(s)
File Type: mq4 f_screenshot_history.mq4   5 KB | 678 downloads
  • #5,889
  • Jul 26, 2007 7:12pm Jul 26, 2007 7:12pm
Hello everyone, i am still learning to identify 3 sisters. I dont trade yen crosses yet but was looking at the chart and saw a possible 3 sisters setup. Please comment on if it is right or wrong.
Thanks,
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.jpg Size: 75 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,890
  • Jul 26, 2007 9:01pm Jul 26, 2007 9:01pm
These are exactly 3 little sisters.
  • #5,891
  • Jul 26, 2007 11:42pm Jul 26, 2007 11:42pm
OLD DOG please, written wordpad copy, for Three little sisters.mp3

Sorry for my bad english
Alex III
  • #5,892
  • Jul 27, 2007 1:13am Jul 27, 2007 1:13am
Phillip you are amazing making such a great community. It's magic how price went to test 21MA after crossing 89 yesterday on EUR. Market Rhythm you are teaching us is really something. The tail down almost got me, but due to wonderful teachers (Pips are you there ? ) it' didn't get me, so I took my +40 pips, thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: 6.gif Size: 21 KB
  • #5,893
  • Jul 27, 2007 1:33am Jul 27, 2007 1:33am
I wannna thank you OLD DOG. Your job is great for us that don't understand perfectly english language. I invite you to continue with your transcripts of Phil Nel MP3.
Many pips for all
  • #5,894
  • Jul 27, 2007 1:34am Jul 27, 2007 1:34am
Quoting tamkras
Pips and Ira, sorry for being on the sidelines if I may...Pips, your point of missing good trades because of fear is a great one. We have to trust our analysis, there is no doubt about it.

When Ira asked me (probably, jokingly) about the monthly IT's of USD/JPY, I never knew where this could take me but I made the analysis shared on FF (do not tell me then IT does not work on the monthly..) Acting upon your analysis is quite a different subject and fear of mistake, losing 10-20 pips may overwhelm us. Developing a sense of the winning streak is stage two in growing ourselves as traders and probably the most important one.

But it is nice to be back... Tam
Tamara, where have you been ? We missed you. I can't say that the job of daytrader is the hardest, but it's definetly hard one. So much fears, so many demons to fight inside of ourselves. Pips says that trading goes with a process of learning yourself. Nice .
  • #5,895
  • Jul 27, 2007 2:51am Jul 27, 2007 2:51am
Quoting OldDog
I, also want to say thank you, Fari, for sharing your trades and then for doing your own analysis and opinion of them. It takes a lot of courage and confidence to share our losses. It's so much easier to share our successes. I find that, sometimes, when I share my losses, I become them, and that I definitely do not want! And you are not! You're standing up for your analysis where you think you were right. Good for you. And you're giving us a chance to learn. Thanks again.

Nadia, I'm neither a fast nor a slow typist. Sometimes, my fingers are too large for the keys. This is just the way I feel I can best contribute right now. I am learning a lot from all of you, and I need to give back somehow.

The zipped attachment is a written wordpad copy, with the pdf chart, of the Fari Losses mp3 for those who have trouble understanding spoken English. The best to all!

Hi OldDog, many thanks
  • #5,896
  • Jul 27, 2007 4:19am Jul 27, 2007 4:19am
HI,
can anyone make a MTF MACD smooth indicator ????
  • #5,897
  • Jul 27, 2007 7:04am Jul 27, 2007 7:04am
Quoting Phillip Nel
Info
Hi Phillip, thank you for the explaination of th 21ema to the zero line relationship. That was not clear to me before but it seem so obvious now. Knowing that was good for some pips on the eur$ this morning. Work has me 60-70hrs a week so i dont get a lot of time to contribute (but it pays the bills for now) Thank you and ALL the excellent people who post here, helping all of us to be better traders.
  • #5,898
  • Edited 7:24am Jul 27, 2007 7:10am | Edited 7:24am
Hello everyone , here is a set up of cable last night , i took the trade with 1 hour early entry. Notice the signal candle how long it is on 4 hour, so i enter bu one hour.The white vertical line going thru the long candle on 4 hour is teh same on 1 hour , it shows the entry point. My first target was the Trend line , and second was 89 MA. both were hit. Now cable has even broken 89. I did not anticipate that. But the trade i had planned worked out fine and got some pips in my pocket .(thankyou Phillip). Now from here if price follows good rythem , then," when price breaks thru 89 it tends to come back to test 21" that would also an arggressive turn around or round bottom since macd is below 45 and highly over sold. this would be similar to recent euro movement and there is a post by IRA on the trade she did and made pips!!! Good job IRA,
Hope you all are making plenty pips.
NAdia.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4hour.jpg Size: 56 KB
Click to Enlarge Name: 1hour.jpg Size: 55 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,899
  • Jul 27, 2007 7:16am Jul 27, 2007 7:16am
Quoting O'Zeeke
Hi Phillip, thank you for the explaination of th 21ema to the zero line relationship. That was not clear to me before but it seem so obvious now. Knowing that was good for some pips on the eur$ this morning. Work has me 60-70hrs a week so i dont get a lot of time to contribute (but it pays the bills for now) Thank you and ALL the excellent people who post here, helping all of us to be better traders.
Hi O'Zeeke, you are so right . its amazing how sometimes something is right infront of us and we fail to see it unless pointed out. YOur posts are always informative. I still thankyou for pointing out the Inner tops in a previous post with charts. Wow 60-70 hours work weeks !!!! I remember those days But forex is keeping me up at nights to catch good trades. I guess hard work always pays.
Good luck,
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,900
  • Jul 27, 2007 9:17am Jul 27, 2007 9:17am
Quoting alexfot
These are exactly 3 little sisters.
Thankyou for confirmation.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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