Have a good weekend everyone.
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Phillip Nel- Daily Wrap up- 27July2007.zip
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4 hour strategy (the nausbot - 4 hour trader) 11 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
DislikedI am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.
I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.
EDIT: For a summary of the 4 hour system go to page 289 Post 4335.
Ignored
DislikedThe weekly chart shows tp resistance. I dont say go short but if MACD give a chance to go short try to stay in the trade as long as possible as it can come down 400pips to 21EMA on weekly graph. Give your position a chance to go withe the run if it runs down and get to BE to protect your position. This is only my opinion and no advice.Ignored
DislikedPrice is above 200SMA. It made long tail below 200 and then closed above it. Current candle has found support on 200SMA. Bit risky I would say.
PhillipIgnored
DislikedI am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.
I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.
EDIT: For a summary of the 4 hour system go to page 289 Post 4335.
Ignored
DislikedHi Philip,
I'm quite new in forex trading. I came across your 4H article and I find it very easy to understand compare to other articles I'ved came across so far. I really want to know, if you can help to explain them
1) how you decide where to place the fibonacci and at what timefarme would it gives the best result?
Fibonacci is drawn from the previous move high to low.
2)What other timeframe do you refer to normally other than 4H?
On this thread it is only 4Hour
3)Will MACD work well with other timeframes?If yes at what setup
MACD is used mainly only on 4Hour. Other timeframes less than 4H to much flase signals
I really hope for your advise. TQIgnored
DislikedSupport @ 1.3605, bounce off the 200ma, Macd green. 30pt sl 50pt target looking for 1.3680ish.Ignored
DislikedHello Ryanmcd,
Yes, I saw that trade this morning when I woke up, but missed it because I was sleeping. My platform showed a entry on the 4:00 candle (GMT+1) at 1.3839. Stop below the previous candle. PT just below the 21MA (also close to the top channel). I like how that it supported both on the 200SMA and bottom channel. Also, MACD formed a nice DB/RB. At this point stop can be moved up to BE for a risk free trade.
My question is: Would this be considered a trend trade or counter-trend?Ignored