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4 Hour Strategy (MACD)

  • #6,281
  • Aug 20, 2007 4:14pm Aug 20, 2007 4:14pm
Quoting OldDog
Way to manage your trades, Hipster! I was studying the possible USDCAD TC on my 20:00GMT candle, but it was a clear no go with the 200 sma and a support trend line in the way. Congrats!
Thanks, always learning!
  • #6,282
  • Aug 20, 2007 4:36pm Aug 20, 2007 4:36pm
Back to the $Yen....There was a very minimal Tc on the 4hr, the red MACD histogram bar was very small. Anyway, the range that bar made was about 100 pips. The stop loss would have been way too large to even think about taking the signal. I also plotted an ATR that was only 1 period, = the ATR for that bar. The horizontal line on the ATR indicator is set at .50 = 50 pips. Take a look at the previous history and the action last week into today. This pair may take some time to settle down...
Attached Image
  • #6,283
  • Aug 20, 2007 5:03pm Aug 20, 2007 5:03pm
Quoting Palmer
Back to the $Yen....There was a very minimal Tc on the 4hr, the red MACD histogram bar was very small. Anyway, the range that bar made was about 100 pips. The stop loss would have been way too large to even think about taking the signal. I also plotted an ATR that was only 1 period, = the ATR for that bar. The horizontal line on the ATR indicator is set at .50 = 50 pips. Take a look at the previous history and the action last week into today. This pair may take some time to settle down...
That's awesome Palmer. I haven't been watching USDJPY, but it looks like it might have been a candidate for the five minute and those brave souls!
  • #6,284
  • Aug 20, 2007 5:12pm Aug 20, 2007 5:12pm
I'm tempted to look at Phillip's 5 min method buuuuuut....I've got that real job that I have to actually work. I've got the 'ability' to monitor the 4 and 1 hour candles but the 5 min charts would be too much of a distraction if you know what I mean....
  • #6,285
  • Edited 7:43pm Aug 20, 2007 7:43pm | Edited 7:43pm
anyone knows agood honest platform that will not freeze out lockup and other manipulations to take your money especially newbies
kevin


tried a few hang up and stall while trading and other commands;;; kskinn
  • #6,286
  • Aug 20, 2007 7:51pm Aug 20, 2007 7:51pm
need info on how to learn this system
its applixation, platform and any tips.... kskinn
  • #6,287
  • Aug 20, 2007 8:54pm Aug 20, 2007 8:54pm
Quoting OldDog
Good challenge, Shauny! One of the things I see, at least on my chart, is the distance from the candle close and the 21 ema. It seems that, if you tried to park your stop up there for a short, your R:R would probably be bad. On my chart, the 20:00 GMT candle (is GMT what yours was?) closed at 1.9781, and the 21 ema was at 1.9873. It's interesting that I didn't even get a bearish signal on the MACD on that candle. Sometimes Phillip has said that he wouldn't take a certain signal candle unless it matched or exceeded a previous recent low or high on the MACD, and your signal looked pretty weak.

How do you determine your time format?
I'm in Vancouver, so I'm using PST, and while most of you guys are in North America? because I see my chart at 20:00 candle today and it is closing at 1.9869 and the 21 ema was at 1.9832.

Thank you in advance =)
  • #6,288
  • Aug 20, 2007 10:21pm Aug 20, 2007 10:21pm
Quoting benniardi
How do you determine your time format?
I'm in Vancouver, so I'm using PST, and while most of you guys are in North America? because I see my chart at 20:00 candle today and it is closing at 1.9869 and the 21 ema was at 1.9832.

Thank you in advance =)
Benniardi, are you asking how to know what timezone your broker's software is set at?
Dion
  • #6,289
  • Aug 21, 2007 12:03am Aug 21, 2007 12:03am
Hey Hipster, I see you got out of the Usd/Cad, I set my SL just underneath the 200 ema, thankfully, hopefully we're on our way back now, upwards.
In the immortal words of Agent 86,
"Missed me by that much" 3 pips to be exact.

Marty
  • #6,290
  • Aug 21, 2007 12:25am Aug 21, 2007 12:25am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting OldDog
Good challenge, Shauny! One of the things I see, at least on my chart, is the distance from the candle close and the 21 ema. It seems that, if you tried to park your stop up there for a short, your R:R would probably be bad. On my chart, the 20:00 GMT candle (is GMT what yours was?) closed at 1.9781, and the 21 ema was at 1.9873. It's interesting that I didn't even get a bearish signal on the MACD on that candle. Sometimes Phillip has said that he wouldn't take a certain signal candle unless it matched or exceeded a previous recent low or high on the MACD, and your signal looked pretty weak.

I thought the stoploss should be placed at the previous 2 bars? Why did u put ur stoploss at 21ema? Mine is GMT -5..
  • #6,291
  • Aug 21, 2007 3:26am Aug 21, 2007 3:26am
Quoting Gee Seven
*****************
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
G7,
I did the same testing on the Euro/USD for both the 5min and 4hr strategy and found for Phillips 5Min strategy, I was best at btw 4am and 8am EST ( 1 hr after the London Open to just prior to news releases in the states). For the 4H, it was best btw midnight and 9 EST with the 8pm (1am GMT) as the worst signals. Kind of intuitive as the market is open and active, but good to hear a confirmation of a basic concept.
Rick
  • #6,292
  • Aug 21, 2007 3:46am Aug 21, 2007 3:46am
Quoting kskinn
anyone knows agood honest platform that will not freeze out lockup and other manipulations to take your money especially newbies
kevin


tried a few hang up and stall while trading and other commands;;; kskinn
One of the things I am trialling at the moment is an account (live and demo) with MB Trading who have very tight spreads, with whom I do my trades, and use the MT4 charts for my setups.
I hate the freezes, and sometimes you are out for a while, as in minute or two.
I have found MB trading real good; they are getting their own charting platform to be released soon; but the good thing about it is that your trailing stops are server sided; as is the TTO orders. They are an array of order methods that will take a week or two to get used to but it caters for most tastes. Execution is superb; and one click will get you either out of all trades; out of only one trade; or out of a part of a trade. Very nice; MT4 has about three clicks to clear the screen if you are in a hurry and to clear 3 orders takes 9 clicks; MB trading is just one. VEry nice in the midst of mixed currents and on the wrong side of the market.
Worth looking at.
No swaps on the demos, for those who like to use this however. There are on the live of course.
Frank
FrankieB
  • #6,293
  • Aug 21, 2007 4:52am Aug 21, 2007 4:52am
Quoting kskinn
need info on how to learn this system
its applixation, platform and any tips.... kskinn
Hi kskinn!

Go to the first page...Phillip has posted 13 lessons to help you on your journey. Also, (I know this is really overwhelming)...browse through the thread...lots of good info on how to trade the system (basic trading skills etc). If you have specific questions, there are many great people on this forum who will be able to give you their opinion.

Sorry I couldn't give you a quick 2 sentance summary....But, I promise if you take time to read and study the thread w/Phillip's documents, you will become a skilled trader who can generate money for life!

Best to you,
Pips
  • #6,294
  • Aug 21, 2007 5:06am Aug 21, 2007 5:06am
Hi guys,

Still focusing on the orient express and haven't had much time to participate in the thread for the last few weeks. Talk about crazy times!! The market has been difficult to manage, but the trades presenting themselves have been excellent money makers!! Hope you all are getting a piece of the pie! Remember to trade ultra defensively -- by this I mean protect profits! I have been having extreme difficulty letting profits run b/c I can't stand the 300 pips swings in G/J -- but by entering and trailing profits after moving to BE ASAP I have been able to accumulate 1000's of pips over the last 3 weeks by taking little bites and waiting for retraces and entering again (yes, it takes a lot of screen time so it may not suit everyone to trade G/J this way). r:r is scary too....that's why I can't post too much these days....I'd be a hipercrit (gosh...how do you spell that word?)....W/the volatility swings my stops are huge....but I move them to BE ASAP (usually w/in minutes of entering...but sometimes...YIKES!)...the stops are set to where the trade is proven wrong & can be a long way away . But, all the great trades have been planned ahead and are executed per the plan (I have a few not so good...they were planned in my head ...and yup...they stunk!). Phillip's method works great by using the 4 hour/1 hour and shorter time frames to time entry on retraces! THANK YOU PHILLIP!!!!

Sorry...This isn't the point of this post. I wanted to give you guys the heads up to be careful trading this AM in NY time. PAULSON AND BERNAKE are meeting in Washington to talk to SENATOR DODD about THE SUBPRIME MARKET, ILLIQUIDITY CRISIS AND STEPS TO CORRECT THE SITUATION....A PRESS CONFERENCE WILL FOLLOW THE 10 AM MEETING.

I'm closing all positions prior to 10 AM whether they are in profit or not...market could become extremely volatile and erratic around this time. Or not...

Happy trading all! Hope you are enjoying this once in a decade opportunity! Trade well and profit. See you all soon!

Pips
  • #6,295
  • Aug 21, 2007 5:11am Aug 21, 2007 5:11am
Hi Frank,

This is in response to a post Days ago...re: short swissy. I said to use 365 as TP & you thought I meant 200. I would have targeted 365 b/c it was above the 200 (and a bit below the 21 which was a bit risky)....so I would have closed half of positions there and moved remaining to BE w/trailing 30 pips stop.

As it turned out....You were right on w/the 200 getting hit! Boy! My beloved Swissy moved far fast!!! Hope you took the trade and made the pips!!!!

Happy trading,
Pips
  • #6,296
  • Edited 6:05am Aug 21, 2007 5:34am | Edited 6:05am
Hi everyone,

Just like to ask usually what is the timeframe you hang on to your trade once executed.

For instance, i went in short on the EUR/USD yesterday 16:00 with a smallish round top and also price action seems to favour shorting. Long tail upwards (doji/shooting star) and also price consolidating around the 1.3500 level.

However, it's almost 24 hours and it hasn't made any significant moves. I was at work earlier when it went down to 1.3458. (which i should have manually closed it , but i was work)

Anyways, usually how long do you hang on to a trade? The reason i asked is because for trades like that above i'm not sure whether it has gone against me (so i can cut my losses) or i'll just have to wait. But looking at Philip's trades , he seems to close them (or hit TP) within the next or at most 2 candles later.

Your feedback and opinions are most appreciated

EDIT: Ok, I just got stopped out 20 mins after writing this post. But my question still remains that trade was almost 24 hours before i got stopped out. Is that a reasonable time to hang on?

Mike
  • #6,297
  • Aug 21, 2007 6:08am Aug 21, 2007 6:08am
Hello Mikewong,
I took the same euro short as u did, however i closed it - 10 pips. i dont think there is a set rule for how many cadles to wait for, BUT the general idea is to wait 3-4 candles,If anyone has a different opinion please feel free to share. That is what i did for euro, also i think i should have paid more attentin to the positive divergence on the daily chart for euro. If i had to plan my trade differently i would have closed my short and posititioned myself for a long breakout which is happening right now. Price was moving in a channel showing signs for a breakout coming up. Oh well, another lesson learned. Good luck with your trades,
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,298
  • Aug 21, 2007 6:09am Aug 21, 2007 6:09am
I wanted to give you guys the heads up to be careful trading this AM in NY time. PAULSON AND BERNAKE are meeting in Washington to talk to SENATOR DODD about THE SUBPRIME MARKET, ILLIQUIDITY CRISIS AND STEPS TO CORRECT THE SITUATION....A PRESS CONFERENCE WILL FOLLOW THE 10 AM MEETING.

I'm closing all positions prior to 10 AM whether they are in profit or not...market could become extremely volatile and erratic around this time. Or not...


Pips[/quote]
Thank you for the heads up
Failure, is a wonderful teacher!
  • #6,299
  • Aug 21, 2007 6:10am Aug 21, 2007 6:10am
upss posted in wrong thread
give me my pips back...
  • #6,300
  • Aug 21, 2007 6:17am Aug 21, 2007 6:17am
Euro seems to have a breakout after moving in channell last few candles. I have a long signal on my macd as well. However resistance on 8MA on the daily chart. HMMMM 45 minutes to candle close, Any opinions???
Thankyou.
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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