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4 Hour Strategy (MACD)

  • #6,621
  • Aug 31, 2007 12:01pm Aug 31, 2007 12:01pm
Hello,
I started coding an indicator based on the MACD commonly used for Phil's system. It is a 'quick and dirty' version, and i used the code of mladen who made a very good set of indicators showing an indicator readings on multiple time frames at once. So all credits goes to him.
Nevertheless, i am just back from summer vacation and time to finish it is really an issue for me since day job starts on Monday, and i am posting it here in case someone could 'clean' the code and add some bells and whistles (alarms and abbreviations) to current code.
I really think it can be a very good help without the constant need to switch charts from pair to pair since it shows all the pairs (TF is also selectable) on 1 chart only (Pairs are hard coded within the code).
Let me know if someone can take it from here, otherwise i will try to finish it but this will take time.

Yannis
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  • #6,622
  • Aug 31, 2007 2:48pm Aug 31, 2007 2:48pm
This is my first post to this forum but I have been reading it for about a month now. I have been demoing with metatrader and like it very much. Before finding Phillip's MACD system i was down about $3000.00 on a $25000 demo account. Since reading and applying the principles in this forum, I am now back to a couple hundred in the black in just a short month. I have heard good things about Oanda as a broker but have just previewed their platform and it seems extremely basic compared to metatrader. Their was no 4 hour time frame just a 3 hour and the macd was just a line. I have read that some members here trade with Oanda and was wondering how they manage with this trading platform. I did not place this in the broker's forum as I wanted it to pertain specifically to the MACD system. Any advice form Oanda traders and others welcome.

Doug
  • #6,623
  • Aug 31, 2007 2:56pm Aug 31, 2007 2:56pm
Quoting kdmezzo
This is my first post to this forum but I have been reading it for about a month now. I have been demoing with metatrader and like it very much. Before finding Phillip's MACD system i was down about $3000.00 on a $25000 demo account. Since reading and applying the principles in this forum, I am now back to a couple hundred in the black in just a short month. I have heard good things about Oanda as a broker but have just previewed their platform and it seems extremely basic compared to metatrader. Their was no 4 hour time frame just a 3 hour and the macd was just a line. I have read that some members here trade with Oanda and was wondering how they manage with this trading platform. I did not place this in the broker's forum as I wanted it to pertain specifically to the MACD system. Any advice form Oanda traders and others welcome.

Doug

No matter what broker I am using or going to use, I will still make my decisions based on MT4 and only put the orders with my broker. It is hard to beat MT4.
  • #6,624
  • Aug 31, 2007 3:29pm Aug 31, 2007 3:29pm
Thank you for your reply. I want to also thank you for all of your hard work in putting this forum together. Your method has really turned my trading around. Three cheers for you and all the members here that make this forum work.

Doug
  • #6,625
  • Sep 1, 2007 5:12am Sep 1, 2007 5:12am
EURUSD H4 2000.12.19 16:00
The center of a RB.
A 800 pip trend follows. Not bad.
But when to exit? And above all why did all intermediate signals fail?
H1 doesn't answer those questions either.
H1 does give some nice extra trades if EMA21 is used as a target on H1.
But that's not really the point.
The point is that the RB was a TC in disguise.
How to handle such an event?
"It happens seldom" is an unacceptable answer
With the basic knowledge we not only miss the 800 pips but get killed by fake moves on H4.
Or we trade and win from H1 but then we miss out the 800 pip move.
In this case H1 did better than H4. I agree with that; but the system is not a H1 system.
It's a interaction between H1 and H4.
What strict rules there are that tell us we should have used H1 or H4 in this case?
May the pips be with you.
  • #6,626
  • Sep 1, 2007 5:45am Sep 1, 2007 5:45am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
I happened to discover something interesting on the EUR.. I thought of just sharing with you guys.. In my chart, you will see a market rhythm on the eurdollar.. Its trading at the 2nd sq on the chart.. It has finished almost finished trading at the area and it should be looking for another area to start its way for next week.. The price is also currently trading in the lower channel represented by the 3 orange trendlines. I think the price will most likely continue to trend up cos we are above 89 and also the 365ema supporting the price.. If the price were to move up to the third square, that section is seperated by a trendline, making it two half diamond shape in that square.. Furthermore, the price hasn't completely breakout out of the 2nd square. Its just an interesting thought i come across, so i posted for here for you guys to look at it..
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  • #6,627
  • Sep 1, 2007 7:40am Sep 1, 2007 7:40am
Quoting kdmezzo
This is my first post to this forum but I have been reading it for about a month now. I have been demoing with metatrader and like it very much. Before finding Phillip's MACD system i was down about $3000.00 on a $25000 demo account. Since reading and applying the principles in this forum, I am now back to a couple hundred in the black in just a short month. I have heard good things about Oanda as a broker but have just previewed their platform and it seems extremely basic compared to metatrader. Their was no 4 hour time frame just a 3 hour and the macd was just a line. I have read that some members here trade with Oanda and was wondering how they manage with this trading platform. I did not place this in the broker's forum as I wanted it to pertain specifically to the MACD system. Any advice form Oanda traders and others welcome.

Doug
Hey kdmezzo,

Exactly as Phillip has already said there is no beating MT4 ,as a charting platform,

However, there is no beating Oanda as a money management Platform.

My advise is two platforms, all the time several screens and , one added feature is that your money platform is never cluttered with anaylsis.

And you have to make a definate decision on a trade before switching to you money platform.
I find this a good thing, as I then have to set the trade up completely seperate to the platform I read off.


It works for me, Unable to hit the wrong buttons whilst switching between charts on MT.

hope this helps, Marty.
  • #6,628
  • Sep 1, 2007 7:53am Sep 1, 2007 7:53am
TraderSeven:

Is that year 2000, correct? My charts don't go back that far. If it is, can you post a chart with that candle in the middle of the chart?
  • #6,629
  • Sep 1, 2007 8:04am Sep 1, 2007 8:04am
Hi Palmer,

I could post a few pics but i think that's a bit to hard to analyse because without scrolling and zooming things are a bit harder.
So I just pick a more recent chart. Not so obvious but still makes my point. I hope.
EURUSD H4 2007.08.09 is the start of a healty downtrend.
The system gives several bullish signals but most of them don't even make 1 pip.
Basicly there are 6 losing trades in a row while there was a ~500 pip trend.

I assume the system has ways to avoid such situations but I have no clue how...
May the pips be with you.
  • #6,630
  • Sep 1, 2007 8:50am Sep 1, 2007 8:50am
TraderSeven:

This is what I've got for that date. But, notice on 8/6/2007 there was a Rt, where some might have had a few shorts open. I see that as a Round Top that is still 'in play'. Then on 8/9/07 there was another Rt but the risk:reward was not there. The green horizontal line after 8/9 shows a Round Bottom (Rb) but again the r:r is not there, this would have been a counter trend trade since price is below the 89. After that you see the red vertical lines as probable entry points or trend continuation signals to go short. There are a few long entry Rb's but again these are counter trend trades, below the 89. But, take a look at the price action and the 8ema. Price is hugging the 8ema because it is falling like a rock. Going long here would have been questionable because of what was happening with the credit markets. The last green horizontal line looks like a valid entry to the long side as well but the price was still on the 8ema. This was a very strong trend, and an incredible ride. It's a lot easier to see this after it happens but when price is riding the 8 like that it very hard to go the other way. When looking at the 1hr charts there would have been even more short entry possibilities. Looking at the short entries, the red vert lines, some of the r:r for those candles are not 'worth it', but again it all comes down to how strong that trend was and how it was riding the 8. I was still short from 8/6/07 during all of this from the Rt there so I had that 'anchor' keeping me in and just added to the positions. This is by no means of a top and bottom picking method but sometimes it works out like that. I recognize your avatar from some other forums and know that you are well schooled in the markets. So, none of this ' riding the trend' stuff is new to you. For me, it was all a matter of learning the flow of the method, not just the price action. Every signal is not a valid signal given the r:r and the strength of the trend here. It's a matter of the rhythm of the trend and what the signals are. Please stop by this thread from time to time, any additional insight you have with the markets would be greatly appreciated...
  • #6,631
  • Sep 1, 2007 8:50am Sep 1, 2007 8:50am
oh yeah, the @$%! chart....
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  • #6,632
  • Sep 1, 2007 10:09am Sep 1, 2007 10:09am
Hi, Traderseven, I don't see even one long signal between 08/09 and 08/16 not even close. You probably did not read the thread.
  • #6,633
  • Sep 1, 2007 10:15am Sep 1, 2007 10:15am
Quoting shauny
I happened to discover something interesting on the EUR.. I thought of just sharing with you guys.. In my chart, you will see a market rhythm on the eurdollar.. Its trading at the 2nd sq on the chart.. It has finished almost finished trading at the area and it should be looking for another area to start its way for next week.. The price is also currently trading in the lower channel represented by the 3 orange trendlines. I think the price will most likely continue to trend up cos we are above 89 and also the 365ema supporting the price.. If the price were to move up to the third square, that section is seperated by a trendline, making it two half diamond shape in that square.. Furthermore, the price hasn't completely breakout out of the 2nd square. Its just an interesting thought i come across, so i posted for here for you guys to look at it..
Hi, Shauny ! Very nice analysis, there was a lesson by Phillip about those squares, he explained it there very good. And it really shoes on moving up. It looks like the price on Friday completed the last square and tried the new one for the next week. Any comments are greatly appreciated, especially by Phillp.
  • #6,634
  • Sep 1, 2007 10:29am Sep 1, 2007 10:29am

Hi Palmer,

Quote
This is what I've got for that date. But, notice on 8/6/2007 there was a Rt, where some might have had a few shorts open.

Now it looks obvious to hold on to that RT. But to be honest I would have exited long ago. I've just started to explore this system and I would have exited at EMA21. I think Philip somewhere wrote he never gives back the pips he made. The trend bounces of SMA89 to near the entry point.
So I think according to the rules we should have exited somewhere on August 8th.
Is that a correct assumption?



Quote
Then on 8/9/07 there was another Rt but the risk:reward was not there. The green horizontal line after 8/9 shows a Round Bottom (Rb) but again the r:r is not there, this would have been a counter trend trade since price is below the 89.
So the key is not to go long below SMA89.
It does make good sense in this case. Pitty so many trades are missed out because in other situations it doesn't seem to make much diffrence.


Quote
After that you see the red vertical lines as probable entry points or trend continuation signals to go short. There are a few long entry Rb's but again these are counter trend trades, below the 89. But, take a look at the price action and the 8ema. Price is hugging the 8ema because it is falling like a rock. Going long here would have been questionable because of what was happening with the credit markets.
I always find this the most tricky part of learning a new system/method. Cold hard mechanical rules are unbendable.
When discretion is needed we step in a danger zone because discretion can also be used to 'discretionally change the rules' until the system is wrecked.
And even when the results are good that's not a good thing because if we always bend things to our own believes we don't need a system because in a sense we just trade our old believes not Philips system...

About riding the trend. To be honest I wouldn't mind if I miss all those fat trends. The most beautiful think in Philips system are those quick 'small' profits. Staying out of a string of false signals would be close enough to the holy grail for me.
May the pips be with you.
  • #6,635
  • Sep 1, 2007 10:33am Sep 1, 2007 10:33am
Quoting alexfot
Hi, Traderseven, I don't see even one long signal between 08/09 and 08/16 not even close.
I see 4 RBs in that period of which the last one is profitable.


Quoting alexfot
You probably did not read the thread.
You are probably wrong
May the pips be with you.
  • #6,636
  • Sep 1, 2007 10:40am Sep 1, 2007 10:40am
Hey, Traderseven! I did mean to offend you at all, and if you have read the whole thread, it's good for you and you are probably right. I just did not see any valid long signal, maybe they were there on your platform, but not on mine it happens sometimes.
  • #6,637
  • Sep 1, 2007 11:45am Sep 1, 2007 11:45am
Hi everyone. I have a quick update on my study progress. I didn't post an update last weekend, just too busy.

I have completed reading through the entire thread, and I'm now reviewing some important posts I've noted, but mostly I'm going through Phillip's thirteen lessons and also some other interesting Mp3's and pdf's that I have saved throughout the course of reading. I was hoping to come up with a way to skip reading through EVERY post, but I can't in good conscience recommend anything but reading it all. As a result of my reading through this, I have realized a very important component was missing from my understanding of trading, that being market rhythm and motion. It occurs to me now that other methods I've studied and didn't fully understand would've worked well with this knowledge. I do think that going through Phillip's thirteen lessons, beginning on page 289, would be helpful before beginning to read through the posts.

I had planned to begin trading the 4H this week, but I may wait one more week. I like what's happening right now with my study of this, really focusing on some important details before beginning, going over and over things I consider to be important concerning market rhythm. Sort of the 'wax on, wax off' approach. You guys remember the movie "The Karate Kid"? The kid wants to learn karate and goes to the 'old master' for lessons. Rather than starting him off with moves and kicks and whatever, he has him wax his vintage cars every day with a specific method; wax on rubbing one way, wax off rubbing the other. He does this everyday foir quite some time until he gets sick of it, but when the 'real' lessons start, he finds out much to his delight that he has developed powerful muscles useful in defending himself as a result of his daily car waxing. I'm looking at what I'm doing this week the same way; I'm developing powerful 'trading muscles' by going over and over certain parts of this method I don't fully 'get' yet.

Thanks everyone, have a nice weekend, and keep up the hard work. It will pay off in due time.


God bless,
Richard
  • #6,638
  • Sep 1, 2007 11:46am Sep 1, 2007 11:46am
Hi phillip and all

Regarding to the Aug mp3 which created by phillip .. and by a looking to GU the pair find many support to 89 .. weekly .. and the daily down trend I think was broken .. so I think we will see a move up next week .. and I think our target will be 2.04 ..

Ammar
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  • #6,639
  • Sep 1, 2007 12:59pm Sep 1, 2007 12:59pm
Dear Phillip:
What is your opinion about the Holidays?
Do you trade on them?
If it's affirmative which system 4H or 5Min intraday ?
  • #6,640
  • Edited 6:53am Sep 2, 2007 6:33am | Edited 6:53am
Quoting TraderSeven
I see 4 RBs in that period of which the last one is profitable.



You are probably wrong

There is a full Mp3 and Pdf that includes this specific deal. There were tiny countertrend signals, but if you followed the TL's and MA's and the price in correlation to them you would have stayed in the trade till at least 16/08/2007 on the 12:00 candle. The perfect entry was 13/08/2007 on the twin tower formation. If you have known the market rhythm you wont be doing countertrend trades when the speed of the matket is clearly below the 8EMA. Part of the rules of Market Rhythm.
Phillip
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