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4 Hour Strategy (MACD)

  • #6,021
  • Aug 7, 2007 2:46am Aug 7, 2007 2:46am
Quoting pips4uandme
Hi Foricks,

I use FXCM too, but I use a standard feed and convert w/the difference. The standard spread was 1.3778 and FXCM differs by 1 -- making it 1.3779....May I ask what charting package you are using and what feed? I'm curious...thanks!

Pips
...so I'm just being whiney. I can live with that: . That's why I said I was ticked with MYSELF and my broker - mostly myself for calling a TP so close. What really bummed me out was that I received a signal from alertFX that said my point was hit, so I was fat dumb and happy until I got to my computer...

I guess I am unclear about what a standard feed is. I have two sources, one is Daily FX using FXCM datafeed and the other is AccuCharts using FXSol's numbers.
In general, I am content with FXCM. They seem to be the lepper with the most toes. We are not in jeopardy of them closing down with the NFA reg changes, but that's another story for another thread.

Oh, well, time to go make some pips...NEXT!

Cheers,
Rick
  • #6,022
  • Edited 9:44am Aug 7, 2007 5:58am | Edited 9:44am
Quoting pips4uandme
Regarding the PM's I got over the weekend, here is a recap of how I plan a trade and use the 4 hour system. Hope this helps you guys.

Pips,

This post is brilliant!!!! I have saved this explanation besides Phillip's PDF. I think this information is extremely valuable, specially coming from somebody that puts her money where her mouth is every 4 hrs!!!!!

If I ever come back to the 4 hrs time I will be reading and re-reading this information before, after and during every trade.

Another proof of why you have become your broker's worst enemy..you are taking away all the pips from his table!!!!! You are the super PEM!!!
  • #6,023
  • Aug 7, 2007 6:04am Aug 7, 2007 6:04am
[quote=Foricks;1526788]...so I'm just being whiney. I can live with that: . That's why I said I was ticked with MYSELF and my broker - mostly myself for calling a TP so close. What really bummed me out was that I received a signal from alertFX that said my point was hit, so I was fat dumb and happy until I got to my computer...

I guess I am unclear about what a standard feed is. I have two sources, one is Daily FX using FXCM datafeed and the other is AccuCharts using FXSol's numbers.
In general, I am content with FXCM. They seem to be the lepper with the most toes. We are not in jeopardy of them closing down with the NFA reg changes, but that's another story for another thread.

Oh, well, time to go make some pips...NEXT!


Foricks,

How is FXSol working for you? I am about to open a live account with them because I like their trailing stop. So far I have only used the demo and it works fine, but I am wondering if there would be a difference with the live version and I might be facing some dirty tricks?
  • #6,024
  • Aug 7, 2007 6:54am Aug 7, 2007 6:54am
Quoting alcastro
How is FXSol working for you? I am about to open a live account with them because I like their trailing stop. So far I have only used the demo and it works fine, but I am wondering if there would be a difference with the live version and I might be facing some dirty tricks?
I am only using their demo account and trading live with CM. FXSol is highly recommended by the Peter Bain group. I think their charts are great compared with what FXCM has to offer, but their trading station is not as intuitive and their reports lack some basic data. I agree that they do have a lot of buzzes and whistles that I may need as I become more proficient. They also have received some VC from an IT firm, so I look for great enhancements with them this year.
Rick
  • #6,025
  • Aug 7, 2007 10:53am Aug 7, 2007 10:53am
I think its nicebut am still a beginner. I am taking my time to learn it so I could use it. But please can anyone tellme which is the best Broker bcos I want to start trading live and I do not know which Broker to use. I will appreciate a responce.
Thank you al
  • #6,026
  • Aug 7, 2007 2:38pm Aug 7, 2007 2:38pm
At last I have my login sorted out. Private policy was blocking all cookies from FF.
Will post some poste tommorow afternoon.

Phillip
  • #6,027
  • Aug 7, 2007 3:02pm Aug 7, 2007 3:02pm
FXCM is good, but FXDD also quite nice...

I wonder FXCM, FXDD, FXSOL...which is better?? any comment?
  • #6,028
  • Aug 7, 2007 3:31pm Aug 7, 2007 3:31pm
Quoting Phillip Nel
At last I have my login sorted out. Private policy was blocking all cookies from FF.
Will post some poste tommorow afternoon.

Phillip
Glad you got it all sorted out Phillip. It's kind of like getting locked out of your own house! Thank you so much for all your efforts on our behalf.
  • #6,029
  • Aug 7, 2007 4:35pm Aug 7, 2007 4:35pm
Hi nipper ,
sorry for late reply, yes it is 200 SMA, as in accordance to the rules.it might look slightly different in your chart perhaps, because of different time frame on platforms, mine is at GMT. hope this answers your question. good luck.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,030
  • Aug 7, 2007 4:41pm Aug 7, 2007 4:41pm
Hi,

Is there an EA for this technic?

Cheers,
Daniel
  • #6,031
  • Aug 7, 2007 6:30pm Aug 7, 2007 6:30pm
Quoting Foricks
...so I'm just being whiney. I can live with that: . That's why I said I was ticked with MYSELF and my broker - mostly myself for calling a TP so close. What really bummed me out was that I received a signal from alertFX that said my point was hit, so I was fat dumb and happy until I got to my computer...

I guess I am unclear about what a standard feed is. I have two sources, one is Daily FX using FXCM datafeed and the other is AccuCharts using FXSol's numbers.
In general, I am content with FXCM. They seem to be the lepper with the most toes. We are not in jeopardy of them closing down with the NFA reg changes, but that's another story for another thread.

Oh, well, time to go make some pips...NEXT!

Cheers,
Rick
Hi. You won't be the first (nor the last) describing a situation like this.
Although brokers may throw some tricks at you like hunting stoplosses, "gambling" against you, momentarily spread increases, etc. the case you described is quite common and shouldn't happen many times at an individual level. It really isn't reason for suspicion.
I even had some cases when this difference worked in my favor keeping me away from a bad trade by 1 pip!

Have a nice pipday
  • #6,032
  • Aug 7, 2007 8:04pm Aug 7, 2007 8:04pm
Quoting Ryanmcd
Thanks pips
You are very welcome, Ryanmcd. Hey...I tried an experiment over the last week re: your 80% comment....you are more than right on! Without a plan of action, conviction to stick to your strategy and TP levels & good money management rules, you are more than 80% likely to lose money in the market (and it was amazing how fast the losses grew...way faster than my planned winners (which is very interesting to me...trying to figure that one out).

Sorry all...I know this isn't directly related to the 4 hour method...but indirectly it is. If we approach the market with our trading plan in hand and are able to follow it to a T based on market conditions and what we say we will do when they show themselves, then we have effectively stacked the odds in our favor (providing of course you have tested the method and it has a positive expectancy for your trade style). If we approach the market willy nilly, we will lose incredible amounts of money quicker than you could ever imagine (in my experiment of willy nilliness....none of the trades were ever big enough to cover the losses and the losses grew to a $1000/day on a couple of mini's!). Had to stop the experiment b/c I was afraid that it could lead to some bad trading habits getting ingrained by accident. I was just fascinated by the 80% comment made by Ryanmcd....had heard something simular before and just wanted to see....& what I saw was really scary! So....learn the basics before using real money...practice formulating a plan and following it well....continue to plan when using real money....and finally, after lots of hard work....realize your dreams of greatness!!

Thanks again Ryanmcd for posting the provocative post for me to test! You really opened my eyes to the potential disaster that awaits undisciplined traders...or novices who are unaware that the market is more than just a coin flip!

Best to you all....May all your trades be good ones (even if they go against you )

Pips
  • #6,033
  • Aug 7, 2007 8:08pm Aug 7, 2007 8:08pm
Quoting dvarrin
Hi,

Is there an EA for this technic?

Cheers,
Daniel

Hi dvarrin,

this is a discretionary style & thus no EA....just good old fashioned brain power! ....which is the greatest EA ever!

Happy trading to you!

Pips
  • #6,034
  • Aug 7, 2007 8:11pm Aug 7, 2007 8:11pm
Quoting zoheir
Sorry if this is off topic but couldn't help it - my last post was my 90th post and it's the 6000th post here on the 400th page I love numbers



Congrats! We have a great community....welcome !!!
  • #6,035
  • Aug 7, 2007 10:20pm Aug 7, 2007 10:20pm
pips glad I could help. I used to do only counter-trend stuff so I will be asking for help going forward changing those old rules lol. As I said I have been doing this about 7 years, I have seen people go from 64,000 to a little over 8 million in 3 years, lose it all and go back to work Also on page 106, lots more to read I do get it Just have to get it better in my head the old look at this this this and this then take the trade
Keep taking CT trades, I need more money
  • #6,036
  • Aug 7, 2007 10:29pm Aug 7, 2007 10:29pm
Long eur/usd 1.3755 stop @ 1.3750 R:R is good, on TL 1 Hour green a few bars, 4h should go green. I am kinda pushing this one but 20 risk is no biggie for the uptrend if it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: 8-7-07 1100pm long.gif Size: 21 KB
Keep taking CT trades, I need more money
  • #6,037
  • Edited 11:51pm Aug 7, 2007 11:28pm | Edited 11:51pm
Quoting Ryanmcd
Long eur/usd 1.3755 stop @ 1.3750 R:R is good, on TL 1 Hour green a few bars, 4h should go green. I am kinda pushing this one but 20 risk is no biggie for the uptrend if it works out.
Hey Ryanmcd,

I'm with you for that long position as well, but not yet. The 89 and 21 are still not convincing me, crunched in between like that. Also, that bearish candle that closed below the 89 is bothering me. MACD is still showing Red on my chart. I'm speculating it may come down to the bottom support or even possibly lower to the 200. Dollar seems to have a little momentum at the moment. I'm going wait this one out, see if the 89 holds. If not, then try to get in between the 200 (1.3680) and bottom support channel (1.3700), depending on whether the MACD gives a signal. There is a possibility of a ZR, now that the BOZ failed. If I miss out.....OH WELL! No pips lost, no pips gained.

Anyways, good luck on your trade!

Nipper
  • #6,038
  • Aug 7, 2007 11:36pm Aug 7, 2007 11:36pm
Ya, I got in too soon. It should work out though and you are right it's red now lol
Keep taking CT trades, I need more money
  • #6,039
  • Aug 7, 2007 11:43pm Aug 7, 2007 11:43pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting Ryanmcd
Long eur/usd 1.3755 stop @ 1.3750 R:R is good, on TL 1 Hour green a few bars, 4h should go green. I am kinda pushing this one but 20 risk is no biggie for the uptrend if it works out.
Been monitoring this trade, was planning to get in but was detered by the 21 and 89.. Also waiting for the bars to closed above 89 and with a macd signal. Its not coming any sooner. Hope your trade does well!! Pips be with u!!
  • #6,040
  • Aug 8, 2007 3:56am Aug 8, 2007 3:56am
[quote=pips4uandme;1528221]You are very welcome, Ryanmcd. Hey...I tried an experiment over the last week re: your 80% comment....

Donna, I am as always fascinated by your post! That's exactly what I was doing (loosing one account after another in weeks, lucky it was demo) untill I came here .
I was re-reading my trading journal during vocations and was surprised by my progress. I no longer open a trade without a written plan, and I have, in most cases, both short and long trading plan (again thanks to you and Phillip), waiting for the price to show me where to go. Still have to work on my emotions during the open trade.
I have also noticed that at the beginning I was waiting for a signal and then worked on my plan, very often in a hurry. Now, when I open the chart I analise market rhythm and then decide what should I wait for. I remember Phillip words, that we are at the hunt. We analise market rhythm and it gives us direction where to shoot. The different boundaries (MA's, S/R levels etc) are the distance in pips where to shoot, and MACD only gives us a signal when to pull the trigger. So simple and so genious!
Thanks again to all of you!!!
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