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4 Hour Strategy (MACD)

  • #6,341
  • Aug 22, 2007 10:51am Aug 22, 2007 10:51am
Hey pips...I didn't do anything on the 4hr....I'm still waiting on the volatility to settle down and it looks like it's finally getting there. This whole week may be just a sit back and watch on the 4hr charts The E$ looks like it's back to 'normal' though....

I need to say something concerning the 1hr set-ups that I post here and there...

Some of these have very little to do with the 4hr method, but I still look for the signals in the MACD. That 1hr $yen entry was a very tentative entry because I see that pair as still stuck in a range and it's at a psychological 115.00 number. I view some of these trades as quick entry/exits. I already exited that trade with a quick 15 to the downside. For some of these trades the profit targets are mental because the 4hr chart, in my eyes, is not working for me right now. I've got no flow, rhythm,...not feeling it yet. In other words, this wasn't an early entry on the 4hr or a Tc on either timeframe, this was just...'a trade' based on the one hour possible channel hitting resistance again and watching the MACD. I don't want to throw anybody off here or take anything away, or add to, the original intent of this thread which is Phillip's 4 hour strategy. These are just suggestions, or derivatives of that strategy. Sooooo, just be cautious of some of these 'derivative entries'...they can move quick...
  • #6,342
  • Aug 22, 2007 10:58am Aug 22, 2007 10:58am
Quoting pips4uandme
Hi mkain! I totally see the resemblence now between your avatar and chewie! Can't believe we missed it all this time ....

Pips
My avatar is a samurai doll because I like yen pairs about Chubaka ... well I'm not the most handsome guy but I'm funny and kind.
  • #6,343
  • Aug 22, 2007 11:26am Aug 22, 2007 11:26am
All right. If we're searching for people's true identities, we mustn't forget Pips, battling GJ throughout the night. I want to add my thanks to you, Pips, for all of the effort and care you put into your posts. I find them very helpful.
Attached Image
  • #6,344
  • Aug 22, 2007 11:44am Aug 22, 2007 11:44am
Quoting adelmonora
i take the signal on GPB/USD at 16:00.

buy at 1.9870
stop at 1.9842
tp 1 1.9900
tp 2 1.9930

(my broker time now is 17:14)
Wonderful, adelmonora! You're busy showing what 4hr MACD can do, while I'm playing games. You almost hit second tp. Are you going to move your stop up?
  • #6,345
  • Aug 22, 2007 11:55am Aug 22, 2007 11:55am
yes , new stop at 1.9868 ( about previous candle close)

Quoting OldDog
Wonderful, adelmonora! You're busy showing what 4hr MACD can do, while I'm playing games. You almost hit second tp. Are you going to move your stop up?
Financial Freedom
  • #6,346
  • Aug 22, 2007 12:01pm Aug 22, 2007 12:01pm
Info
Attached File(s)
File Type: zip Daily Wrapup 22August2007.zip   761 KB | 1,534 downloads
  • #6,347
  • Aug 22, 2007 12:31pm Aug 22, 2007 12:31pm
Quoting benniardi
Hei,

Thanks for the reply.
My four hour candles showing at 0:00, 4:00, etc.. does it mean it's in GMT? because it doesn't say anything.
Also, I'm still having trouble with MACD chart, as the ratio (0.0015, 0.0030, etc) is stacking in one line on some currency pairs. How do you make adjustment?
I read some thread on earlier page, and they calculate the percentage based on ATR ? What is ATR.. (sorry if it's more like 'noob' question, I'm still learning) =p

Thanks
Hello again Benniardi. First, what is your own time zone, and how does that compare with the time you see on your platform? If you want to see what the current time is in the different time zones, try going to www.timeanddate.com/worldclock/. It's one of many sites you can find on Google by entering "time zone" in their window. So that people know what time period I'm talking about, I try to put my times in GMT, Greenwich Meantime, which means that I have to add six hours to my own local time during daylight savings time. When I go off daylight savings time, I then have to add seven hours to get GMT. Good luck on your trading!
  • #6,348
  • Aug 22, 2007 2:11pm Aug 22, 2007 2:11pm
Wordpad copy for those who have difficulty understanding spoken English.
Attached File(s)
File Type: zip Phillip Nel- Daily Wrap Up- 22Aug2007- written copy.zip   2 KB | 560 downloads
  • #6,349
  • Aug 22, 2007 6:33pm Aug 22, 2007 6:33pm
Quoting Phillip Nel
Info
WELCOME BACK PHILLIP.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,350
  • Aug 22, 2007 7:09pm Aug 22, 2007 7:09pm
Quoting OldDog
All right. If we're searching for people's true identities, we mustn't forget Pips, battling GJ throughout the night. I want to add my thanks to you, Pips, for all of the effort and care you put into your posts. I find them very helpful.
Could'nt have put it better myself.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,351
  • Aug 22, 2007 7:15pm Aug 22, 2007 7:15pm
On a more serious note. after listening to phillips daily wrap up i fugured out where i went wrong with my euro long. I forgot the most important part MARKET MOTION( short term memory loss hehehe) I took the long when price broke 21 forgeting that when it breaks 21 it comes back below it before moving on to 89

ADELMONORA,
good job on your GU trade.
Looks like price is getting back into rythem. wishing you all plenty pips.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,352
  • Aug 22, 2007 9:34pm Aug 22, 2007 9:34pm
Quoting benniardi
Hei,

Thanks for the reply.
My four hour candles showing at 0:00, 4:00, etc.. does it mean it's in GMT? because it doesn't say anything.
Also, I'm still having trouble with MACD chart, as the ratio (0.0015, 0.0030, etc) is stacking in one line on some currency pairs. How do you make adjustment?
I read some thread on earlier page, and they calculate the percentage based on ATR ? What is ATR.. (sorry if it's more like 'noob' question, I'm still learning) =p

Thanks
Hey my friend You Just download mt4 from this broker http://www.migfx.ch/ .. your problem will be solved.. Phillip designed this stragedy based on their data.. I use them for signal, but execute trade somewhere else.. bye the way nice to hear that you are from Vancouver, because me too..

shabbir
  • #6,353
  • Aug 22, 2007 9:55pm Aug 22, 2007 9:55pm
Hello Mike, here is the chart for the euro long that i took and it took my stop loss below 21. Hope it makes sense. when i took the trade i had seen the price gone above 21 (few candles earlier) ,and then went below it, and then broke above 21 and i went long. Please everyone, feel free to comment what was wrong with the trade. What i can think of is that the signal candle was too long and was more of a break out than a smooth motion. Also the 2 previous candles before the signal candle were not completely under 21 , instead had tails going through the 21 . I dont mean to confuse anyone out there. Just trying to understand. Maybe there is something very obvious which i am missing. thanks.
Nadia.
Attached Image (click to enlarge)
Click to Enlarge Name: euro trade.jpg Size: 41 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,354
  • Aug 22, 2007 10:55pm Aug 22, 2007 10:55pm
Hurray!

Finally I look through all the thread! I spent a lot of time doing this. Maybe I could say "I know kung fu" as Neo, The One said once

Anyway, now I'm going to backtest not the system, but my knowledge and skills hard.

I wanna introduce myself a little, because I'm planning to be in this thread for a while (if you, guys, don't mind). I'm a newbie, lost my first deposit last year because of wrong MM. After that I gave up for a while, but this spring I returned back to the Forex. Since than I'm looking for the good system and good teacher and it looks like I found all.

I thank you, Phillip, for your fantastic work! You and your vision of market already made me richer in my brains right now. Then I'm going to turn it to the material wealth.

Also I would like to thank all writers of this thread! You were my good company last couple of days and I'm not going away.

PS. Sorry for my bad English and mistakes.
  • #6,355
  • Aug 22, 2007 10:59pm Aug 22, 2007 10:59pm
Ira,

I'm just curious, are you Russian? Your nick is very Russian
  • #6,356
  • Edited 5:43am Aug 23, 2007 12:28am | Edited 5:43am
[quote=Rmax;1553963]Hurray!

Finally I look through all the thread! I spent a lot of time doing this. Maybe I could say "I know kung fu" as Neo, The One said once

Welcome to THE MATRIX Rmax, you have found the right place to be. A Lot of amazing people here, Your hard work will definintely be rewarded. Now which pill did i take. was it the red pill or the blue pill. Oh yes the Red Pill and here i am. Good luck.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #6,357
  • Aug 23, 2007 1:38am Aug 23, 2007 1:38am
Quoting OldDog
Wordpad copy for those who have difficulty understanding spoken English.
Old Dog, many thanks.
  • #6,358
  • Aug 23, 2007 3:08am Aug 23, 2007 3:08am
Quoting pips4uandme
Hi Mike!

You are doing a great job!! Using and treating a demo like the real Macoy is key to sucess down the road! When you feel ready...switch to a very small real account. Demo trading is great to get a feel for the strategy...but real money has a little different feel to it and is harder to trade (for most people, not all...I wish I were part of the not all group ). All kinds of weird emotions arise w/real money in the market. Keep up the great job w/learning the market!! I look forward to seeing your future posts!!!!!

Be careful w/the hedge. Personally, I think it is especially dangerous at newstime b/c you could potentially get stopped in both directions. Also, for some strange reason, Demo accounts execute much more efficiently than live accounts -- so hedging at newstime could stop one and slip the other for a net loss on a real account and a positive effect on a Demo w/out slippage. I'm not an expert w/"double dipping" and I'm sure there are those who make a good living w/the strategy -- I have stradled in the early days and had large losses (both sides taken out w/a quick spike one way and another quick spike the next...TP's don't execute in the volatile market -- but stops get slipped to top of spike). I'm also a bit wary of hedge b/c the brokers are really pushing that functionality of platforms lately....makes me think...hmmmm...who does the strategy ultimately benefit? Again, you need to ask someone who makes their bread and butter by hedging...and that def. isn't me.

Lastly, I'm not bashing the hedge -- I do not have what it takes to trade it sucessfully, so I don't use it. You may find someone who can teach you how to apply it properly and find out if it suits your trading personality.

Happy Pipping!!!!
Hey Donna,

Thanks for your words of encouragement and wisdom.
Yup, i've only been exposed to forex for like 3 months. Been demoing for about the same period. Next step should be nano-account. Only will do that once i have consistent 60-70% success on this system. So far done about over 50 trades on this system but only recorded about 25...of which about 57% success rate.

Yes definitely will continue posting on current trades. I felt that i'm learning hell a lot more in this forum than from other sources.

On the hedge...it's still not proven...still need to do more testing , especially on the effect on news (especially when and how severe)...the R:R and stop loss amount is the key issue.

Well, i want to master this MACD system first before going into anything else...feel like it teaches the overall basics of trading and it's profitable.

Anyway, thanks for the encouragement and advise again, look forward to more fruitful conversations with you and the rest here.

By the way, is the skype chatroom for this system still active?

Cheers,
Mike
  • #6,359
  • Edited 3:30am Aug 23, 2007 3:22am | Edited 3:30am
Quoting BIL2205
Hello Mike, here is the chart for the euro long that i took and it took my stop loss below 21. Hope it makes sense. when i took the trade i had seen the price gone above 21 (few candles earlier) ,and then went below it, and then broke above 21 and i went long. Please everyone, feel free to comment what was wrong with the trade. What i can think of is that the signal candle was too long and was more of a break out than a smooth motion. Also the 2 previous candles before the signal candle were not completely under 21 , instead had tails going through the 21 . I dont mean to confuse anyone out there. Just trying to understand. Maybe there is something very obvious which i am missing. thanks.
Nadia.
Hi Nadia,

I took the same trade as you did. Due to MACD signal (zero bounce).
The rule states that in a trend (downtrend, below 89) , the price will keep retracing to the 21EMA and then bounce off towards the trend.

Here the price closed above 21. My TP was about 1.3550, but i felt that i jumped the gun as price did not close above resistance of 1.3500 , only 2 candles later it did and a smooth solid climb began till now. ( read somewhere that Philip mentioned about price level being a factor), i think perhaps i didn't take that into account.

In replying to the earlier post, this is where it frustrates me to close a position which 4 candles later became profitable. But i guess in this case, i feel i may have jumped the gun. Could be also what you said about the breakout and large candle instead of smooth motion. Or perhaps coupled together with the price not able to break the 1.3500 level.

Cheers,
Mike
  • #6,360
  • Aug 23, 2007 3:35am Aug 23, 2007 3:35am
Quoting Rmax
Hurray!

Finally I look through all the thread! I spent a lot of time doing this. Maybe I could say "I know kung fu" as Neo, The One said once

Anyway, now I'm going to backtest not the system, but my knowledge and skills hard.

I wanna introduce myself a little, because I'm planning to be in this thread for a while (if you, guys, don't mind). I'm a newbie, lost my first deposit last year because of wrong MM. After that I gave up for a while, but this spring I returned back to the Forex. Since than I'm looking for the good system and good teacher and it looks like I found all.

I thank you, Phillip, for your fantastic work! You and your vision of market already made me richer in my brains right now. Then I'm going to turn it to the material wealth.

Also I would like to thank all writers of this thread! You were my good company last couple of days and I'm not going away.

PS. Sorry for my bad English and mistakes.

Wow...6000 over posts...cool
I actually started from page 289 ...with all the Mp3s but eventually i started to read from page 1 again as i felt there's just sooo much to grasp. I'm only at page 55 now, anyone here around there...we can accompany each other you know...


anyway rmax, congrats, and respect! (ali g style)
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