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4 Hour Strategy (MACD)

  • #7,261
  • Oct 7, 2007 2:22pm Oct 7, 2007 2:22pm
Quoting fxhaz
Hi Philip,

I want to seek your clarification on the MA's used for 5min chart. Earlier setup is 21/10 ema and 50 sma. But on your 1 hr entry at fxtradeblog,you seemed to be using 21/8 ema setup on all charts. Can you please clarify which ma is more accurate to use?

Thanks.
Hi fxhaz,

Maybe this has been answered already, and if so, I appologize for redundancy. The 5 min system is sep. from the 4 hour method. The 1 hour method on fxtradeblog is used as an enhancement/early entry for the 4 hour method, while the 5 min is a short-term system w/its own set of rules. If you are trading the 4 hour method, you want to practice on the4 hour time frame and when you understand the market rhythm, start to look at how the 1 hour can be used to help you enter trades earlier. Don't confuse the 5 min system w/the MACD method.

Hope you are trading profitably!

Pips
  • #7,262
  • Oct 7, 2007 2:31pm Oct 7, 2007 2:31pm
Quoting pips4uandme
Hi fxhaz,

Maybe this has been answered already, and if so, I appologize for redundancy. The 5 min system is sep. from the 4 hour method. The 1 hour method on fxtradeblog is used as an enhancement/early entry for the 4 hour method, while the 5 min is a short-term system w/its own set of rules. If you are trading the 4 hour method, you want to practice on the4 hour time frame and when you understand the market rhythm, start to look at how the 1 hour can be used to help you enter trades earlier. Don't confuse the 5 min system w/the MACD method.

Hope you are trading profitably!

Pips
Hope you enjoyed it without laptop. Sometimes one has to take such a break. Hope that a lot of pips will follow you this week.
Phillip
  • #7,263
  • Oct 7, 2007 2:32pm Oct 7, 2007 2:32pm
Quoting Palmer
More info on the website....

There are two new .pdf files on the Tools page.

Homework!!!

One file is for the 4 hour charts on the EURUSD from Jan 1 through the 1st week of October and the second file is the 1 hour charts for the same period. The idea here is to print the charts out and make handwritten notes on the MACD patterns and how price reacts to the moving averages. This is a good exercise to train your brain and with the method. I'll update these at the end of the year to have full calendar year of charts....

Hi Palmer!!

You are such an over-achiever!!! Nice Job!!!! You kick major butt, buddy!!!!! Finally, back to work after my vacation to the southern part of the US! Went crazy without the laptop for the first few days, then grew to love being unwired! Looks like the breakout for Cable happened the day I left town (had been waiting for it for a week -- hope you guys caught some of it). Arrived home wednesday night, practiced thursday and traded after NFP for a good pip gain for the week. Now I have a cold....but am totally ready to get back to work -- per the bosses order (you are too funny!!) and yes, lollipops to all who find a glitch in your website!!!

Oh...and while I was in the Bulldog state...I did pay homeage to your Bama...and was almost shot for my irreverance! Y'all are scary down there w/your team allegiance! Yikes!!!!
  • #7,264
  • Oct 7, 2007 2:44pm Oct 7, 2007 2:44pm
Quoting fxreport
Also, was the strategy changed or is it the same as post 1?
Go to page 289 and onwards for a 13 Lesson summary. From post 4335. Work through that and then through the thread. It will help you in a lot of questions. The thread wont reach nearly 500pages and 7500 replies if it is not working. It depends on you if it is going to work. It takes a lot of hard work to qualify as an Engineer and so it does with Forex trading. You need to study and work hard. It is not an easy money making scheme like most advertizers suggest like "trade like the professionals after only 20 minutes per day analyses" etc!!!!!!!!. It does not work that way. If you study the market rhythm given in those Lessons and know them by heart you will learn how to be successfull.
Phillip
  • #7,265
  • Oct 7, 2007 2:44pm Oct 7, 2007 2:44pm
Quoting Phillip Nel
Hope you enjoyed it without laptop. Sometimes one has to take such a break. Hope that a lot of pips will follow you this week.
Phillip
Hi Phillip!

Thank you!!!!! the break was good for getting me to "see" the info on charts more objectively -- as Ira would say -- W/fresh eyes!

May the pips flow towards you as well, my friend!

Talk to you later,
Pips
  • #7,266
  • Oct 7, 2007 2:53pm Oct 7, 2007 2:53pm
Welcome Back Donna !!!!!! We Missed You. Hope U Had A Fun Vacation. Take Care And Get Well Soon.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,267
  • Edited 3:15pm Oct 7, 2007 3:01pm | Edited 3:15pm
Quoting giogio15
please take a look at another my chart! Seems that market rhythm is really a great thing!
Hi giogio15!

I see you are very interested in trading the G/J cross!!! Please, don't mind if I stick my nose into the conversation for a second, OK?

The 4 hour system works very well with G/J -- but your stops need to be extremely large and your stomach extremely strong!! This is not a pair to learn trading with. It has distinct cycles that follow at distinct times and whips quite a bit w/each 4 hour candle (also, you have to be able to define your market as ranging vs. trending and absolutely know where your s&r points are). Please take Phillip's wise advise and test this pair before you trade it! This is my favorite pair to trade -- it drives me insane too!! For me, it is impossible to trade G/J without watching it constantly, and I am unable to trade it long term (unless I stay up for 3 days). Papertrade it live and see how you can handle it and if it suits your style and money management (notice how you would have needed 200 pips min. stop on Friday? Are you prepared for 300 pip swings?). I've only been trading G/J for approximately 7 months regularly -- so, I'm def. not an expert -- but, I do know it is a pair that can hit you hard and fast -- & it is also a pair that can give to you quickly too. Are you prepared for the emotional, consuming rollercoaster? Some trader's call it the beast....I call it Heroin....Swear there is a reason trader's have these names for this pair....are you ready for that?

Again, I appologize for jumping into this conversation. & I don't know how long you have been trading, or what your skill set is. All I know is you absolutely have to test your method before trading live! Wishing you the best and many positivie pips!

Pips

PS... A few weeks ago (maybe a month, I posted that I would never post a G/J trade or comment on other trader's plans b/c of the nature of this pair. I promise this will be the only post refering to trading G/J -- Each trader needs to test, sit live and watch, paper trade, then decide if this is the right pair for them.)
  • #7,268
  • Oct 7, 2007 3:16pm Oct 7, 2007 3:16pm
Hi, folks. I'm a total newbie to the Forex market so I had a few question. Firstly, how you get those horizontal lines on the MACD? Also, I just signed up for Forex.com. Will their platform provide me with all the indicators and live quotes I need to implement this system free of charge? I'm totally new so I'm just making sure I'm not missing something here. Oh and where is pg 289 post 4335?

I do plan to papertrade and I am a studyholic but besides that, is there any other advice you folks feel I should know before I get started?

Thanks,

Brandon
  • #7,269
  • Oct 7, 2007 4:23pm Oct 7, 2007 4:23pm
Quoting Phillip Nel
This contain the original Pdf document.
Read through it and know it by hart.


Never buy into motion. The reason is you see the motion and get excited and buy/sell and then want to decide what the plan should be. You must allready have a plan before you open a position


"I'd rather be "out" of a trade and wishing I was "in" than "in" a trade and wishing I was "out"
Brandon, the arrow to click on is the one just to the right of Phillip's name.

Clicking on the horizontal arrow at the top of this post should get you to the post Phillip was talking about. That one has his original 4Hr Method pdf. Then continue on the the next page until you download all of his 13 lessons. That will give you a start, and then, as you have time, start reading the thread from the beginning. I think you'll be glad you did!
  • #7,270
  • Oct 7, 2007 4:52pm Oct 7, 2007 4:52pm
Thanks OldDog, I just downloaded all the lessons. And of course my thanks to Phillip, you're the man! This whole forum is wonderful! I appreciate you all.
  • #7,271
  • Oct 7, 2007 5:36pm Oct 7, 2007 5:36pm
For those who have difficulty understanding spoken English.
Attached File(s)
File Type: doc Phillip Nel Weekly Anticipation 7 Oct2007 written copy.doc   6 KB | 579 downloads
File Type: pdf Weekly Anticipation 7Oct2007.pdf   84 KB | 806 downloads
  • #7,272
  • Oct 7, 2007 5:59pm Oct 7, 2007 5:59pm
Quoting pips4uandme
Hi Palmer!!

You are such an over-achiever!!! Nice Job!!!! You kick major butt, buddy!!!!! Finally, back to work after my vacation to the southern part of the US! Went crazy without the laptop for the first few days, then grew to love being unwired! Looks like the breakout for Cable happened the day I left town (had been waiting for it for a week -- hope you guys caught some of it). Arrived home wednesday night, practiced thursday and traded after NFP for a good pip gain for the week. Now I have a cold....but am totally ready to get back to work -- per the bosses order (you are too funny!!) and yes, lollipops to all who find a glitch in your website!!!

Oh...and while I was in the Bulldog state...I did pay homeage to your Bama...and was almost shot for my irreverance! Y'all are scary down there w/your team allegiance! Yikes!!!!

Thanks pips! Even though I graduated from FSU (out of state tuition is a killer) my dad went to the University of Alabama and it' been BAMA football since I learned to walk. Yes, college football is a religion in the south...

"When you tackle that man you hit him and you hit him hard to make him hurt. Then, you help him up and tell him you'll be right back."
- Paul "Bear" Bryant.

Glad to hear your back and those summer colds are nasty. I'm still riding a few lots from the news on Friday, made some good $$ there after the news. Not expecting a whole lot of movement with the holiday...are the markets even open tomorrow??? Get well...

ooh, I got 2 PM's!
  • #7,273
  • Oct 7, 2007 6:14pm Oct 7, 2007 6:14pm
thanks for the clarification. I might have missed the explanation posted earlier.Thank you again.http://www.forexfactory.com/images/icons/icon7.gif
  • #7,274
  • Oct 7, 2007 6:26pm Oct 7, 2007 6:26pm
In case some of you missed it:

I posted two new files on the website under the Tools link. There are two .pdf files of 4 hour and 1 hour charts for the EURUSD from the beginning of the year. It's a good exercise to print these out and make notes on the about the MACD formations and how price reacts to the moving averages. This is a brain-trainer for the method. I'll repost this later in the week as well.

study study study
  • #7,275
  • Oct 7, 2007 8:59pm Oct 7, 2007 8:59pm
Quoting pips4uandme
Hi giogio15!

I see you are very interested in trading the G/J cross!!! Please, don't mind if I stick my nose into the conversation for a second, OK?

The 4 hour system works very well with G/J -- but your stops need to be extremely large and your stomach extremely strong!! This is not a pair to learn trading with. It has distinct cycles that follow at distinct times and whips quite a bit w/each 4 hour candle (also, you have to be able to define your market as ranging vs. trending and absolutely know where your s&r points are). Please take Phillip's wise advise and test this pair before you trade it! This is my favorite pair to trade -- it drives me insane too!! For me, it is impossible to trade G/J without watching it constantly, and I am unable to trade it long term (unless I stay up for 3 days). Papertrade it live and see how you can handle it and if it suits your style and money management (notice how you would have needed 200 pips min. stop on Friday? Are you prepared for 300 pip swings?). I've only been trading G/J for approximately 7 months regularly -- so, I'm def. not an expert -- but, I do know it is a pair that can hit you hard and fast -- & it is also a pair that can give to you quickly too. Are you prepared for the emotional, consuming rollercoaster? Some trader's call it the beast....I call it Heroin....Swear there is a reason trader's have these names for this pair....are you ready for that?

Again, I appologize for jumping into this conversation. & I don't know how long you have been trading, or what your skill set is. All I know is you absolutely have to test your method before trading live! Wishing you the best and many positivie pips!

Pips

PS... A few weeks ago (maybe a month, I posted that I would never post a G/J trade or comment on other trader's plans b/c of the nature of this pair. I promise this will be the only post refering to trading G/J -- Each trader needs to test, sit live and watch, paper trade, then decide if this is the right pair for them.)

I agree with you! GBPJPY is a beast! And thanks for warning me about high risk probability-) wishing you the same!! And thanks a lot!
  • #7,276
  • Edited 4:05am Oct 8, 2007 3:53am | Edited 4:05am
EurUsd and GbpUsd. Has gone down. I will wait for further candles.

EurUsd. Is back to 89sma. Will wait to see how it interacts around 89sma
GbpUsd. No rhythm at this stage.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071008.gif Size: 13 KB
  • #7,277
  • Oct 8, 2007 5:35am Oct 8, 2007 5:35am
Working on the scripts for those certain brokers that require an additional character to go along with the currency pair ( ex. EURUSDm) to trade mini or micro lots. Stay tuned...
  • #7,278
  • Oct 8, 2007 5:42am Oct 8, 2007 5:42am
Quoting panther_trader
EurUsd and GbpUsd. Has gone down. I will wait for further candles.

EurUsd. Is back to 89sma. Will wait to see how it interacts around 89sma
GbpUsd. No rhythm at this stage.
hey panther,

how's it going? just like to know how do you get all those monitors on the Mt4 ...stuff like ATR etc.

cheerrs
mike
  • #7,279
  • Oct 8, 2007 5:49am Oct 8, 2007 5:49am
Hi mike,

I wrote an indicator with ATR and other, from my point of view, important figures. Just compile and add it to your MT4.

br
panther_trader
Attached File(s)
File Type: mq4 F_Daily_Range.mq4   2 KB | 758 downloads
  • #7,280
  • Oct 8, 2007 7:16am Oct 8, 2007 7:16am
EurUsd. MACD gave zero bounce at 12:00 candle but it is still around the 89sma on current 16:00 candle. I will wait for further direction especially as far as rhythm is concern.

GbpUsd. Might get ready for a Zero Bounce on MACD off the 21ema. It is making higher lows. Price is squashed in triangle. I will wait.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 19 KB
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