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4 Hour Strategy (MACD)

  • #6,241
  • Aug 18, 2007 6:00pm Aug 18, 2007 6:00pm
My sincere condolences to you and your family on the demise of your brother.
Let not the temporary separation give you permanent pain, rather be joyful that he has been taken up to be with our Lord and be joyful always because we will be with him.

I lost 2 grandpas and grandmas at a tender age. It is sad, but life goes on...

Take care and God bless!
  • #6,242
  • Aug 18, 2007 9:35pm Aug 18, 2007 9:35pm
Richard7,

Thanks for the great post re: climbing to sucess!!! VERY NICELY DONE!!!!!

  • #6,243
  • Aug 19, 2007 1:41am Aug 19, 2007 1:41am
Quoting parlenk
Ok thx for the info.I will take a look on this method

cheers
Hi, I'm new here, and I am not quite understand where did you get the number (30, 40, 50), and what's ATR and ca. stands for?

Thank you =)
  • #6,244
  • Aug 19, 2007 3:01am Aug 19, 2007 3:01am
Nice Nice Nice
  • #6,245
  • Aug 19, 2007 6:04am Aug 19, 2007 6:04am
I like your post. The path we are going is very difficult as we are fighting with ourselves (our emotions and feelings). Form time to time we all have difficult times, when we want to send everything to hell. That's why such posts are so important, they help to be focused and motivated. They help to overcome fear, anger and laziness. That's why this thread is so wonderful, attracting wonderful people.
  • #6,246
  • Aug 19, 2007 6:15am Aug 19, 2007 6:15am
Quoting mamutot

hi there folks



i am demoing - not this system, dies anyone make 300 pips out of it each month??



Hi, 300 pips a month is average on two pairs. Sometimes you can make 500-600 pips a month, sometimes 100. But it's real, you can easily see it on becktesting.
  • #6,247
  • Aug 19, 2007 6:37am Aug 19, 2007 6:37am
Quoting shauny
hi,

U all enter using 4hr TC or 1hr TC? Notice the 4hr pulled back to 8ema but not 21ema, you still enter? If enter, how do you all set ur TP? I was rather afraid to enter when it didn't pull back to 21. I did a few countertrend trades, and ended up in losses.. Someone pls enlighten me.. thanks..
I had a lot of problems with understanding 1H technique at the beginning. I saw a lot of confusing post on the thread. So I have decided to stick only to 4H. Now, after 6 month using only this system I think I started to get a feeling when to use 1H. I will try to answer your question.

Let's say we are in a down trend (like on EUR at the moment) and the price touches only 8MA - that means the speed of a trend is very fast, so no counter trend trades. You are focused on getting TC signal, that's what you are waiting for. You see RB but you don't take it as it's a counter trend trade. Then price starts to go down - that's what you were waiting for. At that moment you switch to 1H and wait for the candle to close below some support/resistance area (trend line, price level. MA, Fib etc) and then you enter. Your SL and TP area you define from 4H the same way as if you open a deal from 4H.

Actually it's all a matter of market rhythm and price movement. If you know the market rhythm you anticipate price to do something and when you see it, it gives you confidence to open your deal earlier, before you get a signal from 4H (the close of a 4H candle). The same applies to price action, if you see the price has stucked, there are tails, strong support/resistance area, it seems as price want but can't go through it, you can take counter trend trade and in most cases it will work fine.

But, please, be aware of using 1H technique too often as it may be very tricky. You may face the problem of overtrading and as a result many losses.
I hope this helps you, all comments are most welcome.
  • #6,248
  • Aug 19, 2007 10:32am Aug 19, 2007 10:32am
Nice Strategy!
  • #6,249
  • Aug 19, 2007 11:13am Aug 19, 2007 11:13am
Quoting ira
I had a lot of problems with understanding 1H technique at the beginning. I saw a lot of confusing post on the thread. So I have decided to stick only to 4H. Now, after 6 month using only this system I think I started to get a feeling when to use 1H. I will try to answer your question.

Let's say we are in a down trend (like on EUR at the moment) and the price touches only 8MA - that means the speed of a trend is very fast, so no counter trend trades. You are focused on getting TC signal, that's what you are waiting for. You see RB but you don't take it as it's a counter trend trade. Then price starts to go down - that's what you were waiting for. At that moment you switch to 1H and wait for the candle to close below some support/resistance area (trend line, price level. MA, Fib etc) and then you enter. Your SL and TP area you define from 4H the same way as if you open a deal from 4H.

Actually it's all a matter of market rhythm and price movement. If you know the market rhythm you anticipate price to do something and when you see it, it gives you confidence to open your deal earlier, before you get a signal from 4H (the close of a 4H candle). The same applies to price action, if you see the price has stucked, there are tails, strong support/resistance area, it seems as price want but can't go through it, you can take counter trend trade and in most cases it will work fine.

But, please, be aware of using 1H technique too often as it may be very tricky. You may face the problem of overtrading and as a result many losses.
I hope this helps you, all comments are most welcome.

That is exactly how it is done. If you want to use the 1Hour because the 4Hour does not give enough trades, you are going to get burned. It is at strategic places that the 1Hour gives an entry when the 4Hour is at that strategic place and a certain directional move are expected, you can enter earlier on the 1Hour.
  • #6,250
  • Aug 19, 2007 11:16am Aug 19, 2007 11:16am
Thanks again for all the Pm's and e-mails and messages. I appreciate it. My wife and family are aslo saying thank you.
It is nice to know you are in other peoples thoughts and prayers in times of difficulty.

See you people tommorow. Hope that this week brings good pips.
Phiilp
  • #6,251
  • Aug 19, 2007 3:49pm Aug 19, 2007 3:49pm
Glad to hear from you Phillip, hope all is well or on it's way to getting there...

Taking a look at the EUR$. After that run to the downside this pair looks like it may be trying to battle back to the upside. The daily price settled right back on to the previous support line. Price is still below the 89 but a nice Rb has formed on the daily. This may be a sign of the EUR$ gaining strength. There was a lot of volatility last week with the markets and the Fed intervening and it may continue. The 4 hr formed a Rb as well but the initial green bar on the MACD turned out to be another Tc signal to the downside. Then the Rb started on it's way up. But, that would have been about a 40 pip stop. The R:R was about even but with all of the volatility that was going on I just tightened the stops on my short lots and just let things happen. There was just too much volatility for me to get involved with. The next few days should be interesting. For now, 'I just like to watch'...

Here's the daily...

How do you post two charts (pictures) not files to show in the same post???
Attached Image
  • #6,252
  • Aug 19, 2007 3:51pm Aug 19, 2007 3:51pm
Here's the 4hr...I added a 5 period ATR to show the volatility.....
Attached Image
  • #6,253
  • Aug 19, 2007 3:57pm Aug 19, 2007 3:57pm
My 'other pair' the $Yen was just as volatile for last week. As of right now I have no open positions. I took the $ and ran.

Last week was one of those once a year weeks. The 4 hr MACD method gave several Tc's on the EUR$ and $Yen. I guess I got back in town just in time. I haven't looked at the calendar for next week but like I said earlier, I feel like just letting things settle down = wait for the volatility to subside....

Trade well.
  • #6,254
  • Aug 19, 2007 4:08pm Aug 19, 2007 4:08pm
Quoting Palmer
Glad to hear from you Phillip, hope all is well or on it's way to getting there...

How do you post two charts (pictures) not files to show in the same post???
I haven't tried it, Palmer, but you might try simply repeating the "manage attachments" process twice on the same post and adding them consecutively that way. The best.
  • #6,255
  • Aug 19, 2007 4:46pm Aug 19, 2007 4:46pm
OldDog...Yeah, I've done that but the post just comes back as having two attachments....hmmmm....
  • #6,256
  • Aug 19, 2007 6:31pm Aug 19, 2007 6:31pm
Speaking of volatility...

This is the 5min $Yen...80 pip swings...yikes...
Attached Image
  • #6,257
  • Aug 19, 2007 7:15pm Aug 19, 2007 7:15pm
By NewstraderFX, Today 1:03pm, Topic Market Insights The Name Of The Game Is Volitility
Forget about trends for now, what we are likely to see are further wide swings in price as investors will remain hypersensitve to whatever information comes out regarding the mortgage/commercial credit markets. Anyone who traded thru Friday's Fed announcement has a leg up on this and I believe we all better start getting used to the wild rides to come.

The problems that have developed in the mortgage and commerical credit markets took years to accumulate and it's very likely that one reduction in the discount rate and even one in the target rate will not suffice to mitigate years of excessive risk taking. Measuring the width and depth of the situation will not be an easy task. Information regarding the all the players; Investment Banks, Banks, Hedge Funds, Credit Rating Agencies, Mortgage Lenders and big Institutional Investors like Pension Plans is likely to provide the proverbial "death by 1000 paper cuts" rather then a single LTCM-like implosion.

The U.S. data is light this week with Monday's Conference Board Index of Leading Economic Indicators (exp 0.4 prev -0.3) starting things off. The big numbers will be Friday's New Home Sales (exp 820,000 prev 834,000) and Durable Goods Orders (exp 1.0 prev 1.3).

Thursday's BoJ interest rate decision, which looked a sure thing up until 2 weeks ago is now very much in doubt although it's dificult to imagine the bank moving now. Observing the situation for a month or two seems to be a wise choice at this time. Even if they did intend to increase the rate, waiting a month or two is not going to do irreputable harm to the Japanese economy.

On the earnings front, markets will surely be watching for Lowe's numbers on Monday and Target's on Tuesday. Other retailers; Abercrombie, Limited, Gap and Staples will give further clues on consumer spending which to this point have not shown sharp declines, just the barest downward indications.

Any news regarding the aforementioned players in our little drama can be expected to elicit wild responses. These items are not released on a schedule so staying aware of the news and trading smaller positions seem to be the prudent way to go.

Thanks for reading my post and please use the box on the left to vote. If you're interested in finding out more about my trade room, blog and trading primer please contact [email protected].
  • #6,258
  • Aug 19, 2007 7:29pm Aug 19, 2007 7:29pm
[quote=Palmer;1547388]By NewstraderFX, Today 1:03pm, Topic Market Insights The Name Of The Game Is Volitility
quote]
Thaks Palmer, i agree i will be sitting on the sidelines for a while
  • #6,259
  • Aug 19, 2007 8:42pm Aug 19, 2007 8:42pm
Quoting Richard7
First, let me join the others and extend my condolences on your loss Phillip. I'm sure heaven has gained another soul, and I pray that your family be strengthened by God's love during your time of mourning.
<snip>
A man much smarter than me once said "the secret to your future is hidden in your daily routine". Do you believe that? I do.
<snip>
God bless and good trading,
Richard
*****************
Great post above Richard. BTW, the quote, "the secret to your future is hidden in your daily routine", has been attributed to Evangelist Mike Murdock.

To our "Guru" Philip I add my condolences on your great personal loss. I pray that the blessed hope of our Lord is with you and your family. Thanks for all you do here. I've looked a bunches of systems and this one really rocks them all. It's not a no brainer as you must have some market savvy but it does have a high percentage edge for those who are patient and control overtrading. When you look back you can see those low risk entries that seldom fail. The bounces off the MA and pivot convergences and the TC trades that have broken resistance or support. Be patient y'all. Also I think it's good to track the time of day that you have been most successful. I've learned that the 4pm and 8pm EST signals are the worst for me. I now avoid that time window. I have to wake up at 3:45am and/or again at 8am to have the highest percentage of winning trades. Same for any of you? (remember to mention your timezone if commenting on this)
Blessings
"Though this be madness, yet there is method in it." -Hamlet Act II
  • #6,260
  • Aug 19, 2007 8:50pm Aug 19, 2007 8:50pm
G7:

Yeah I tend to agree on the time of day trades there. I'm central USA and I use FXDD, GMT +2. It seems like not a whole lot goes on at 8pm and midnight. 4am and 8am seems to be the fuel for the fire.

Patience is one of the keys to being successful..
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