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4 Hour Strategy (MACD)

  • #7,281
  • Oct 8, 2007 12:09pm Oct 8, 2007 12:09pm
Quoting Brandon LG83
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.

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
Hello again Brandon, -- You won't be able to set up the MACD system on Forex.com to your satisfaction. What you will need to do is to search for a broker who uses the MetaTrader platform, the most recent platform is still MT4 I believe. One such broker is InterbankFX. Another is MIG Investments. Other people may be able to mention more choices. What you want to do is to get a demo account with a broker who runs the mt4 platform. You download that platform from them and start learning how to use it. Then, you can go to the bottom of any page on this thread, where you will see the heading, "Similar Threads." Under that, you can click on the thread called, "MACD Colored Indicator for 4 Hour Strategy..." The starter of that thread is Irusoh, and he developed an indicator that will set up the MACD the way it is used on this thread with extra enhancements such as color changes to show whether the MACD is making higher or lower bars. He has revised his indicator several times, so you can search his thread for the latest one. Good luck to you, and study hard!
  • #7,282
  • Oct 8, 2007 1:03pm Oct 8, 2007 1:03pm
Info
Attached File(s)
File Type: zip Daily Wrapup 08 Oct2007.zip   734 KB | 1,644 downloads
  • #7,283
  • Oct 8, 2007 1:14pm Oct 8, 2007 1:14pm
Would, like to say thank you to everyone who has contributed so much to this so far. I realise how little I know and how much seems beyond me when I read what you all have done.

I also have a request regarding brokers. I have the mt4 demo from interbankfx, and have loaded all the indicators on, I also have a live account with Oanda. Today I shorted the euro and am currently 90 pips ahead, unfortunately this was on the demo account, where I am using a trailing stop. Oanda has no facility for this, and my BIG problem is emotion. I jump in and out in small lots, and whilst I finished 30 ahead at the end of the day, it was stressfull. I think I need a broker with a trailing stop facility. I live in Crimea, Ukraine, but am English. Oanda was set up when I was in the U.K.. Paperwork as far as address is concerned is difficult here, (I bought the house in my wifes name.). Anybody help with a broker with mt4, and simple registration. Or an operation that removes emotion.

I am sorry it is such a long post.
  • #7,284
  • Oct 8, 2007 2:24pm Oct 8, 2007 2:24pm
Quoting krymskiforex
Anybody help with a broker with mt4, and simple registration. Or an operation that removes emotion.
krymiskiforex -- Someone else may be able to help with your particular problem with a broker. As regards emotions, I don't believe that I could ever remove them. They are too much a part of who I am. What I have been able to do over time, with the help from this thread, is to focus my attention away from my emotional reactions and onto the trade itself, especially, to be concerned about how well I execute my trade and not about how much money I'm going to make or lose. Phillip has done two good mp3's on emotions in trading. Go to page 376 on this thread, and you will find post 5627, "Pulling the Trigger," and post 5629, "Emotional Triggers." Those have been a help to me. Good luck on getting everything arranged!
  • #7,285
  • Oct 8, 2007 2:30pm Oct 8, 2007 2:30pm
Please check my homework!
Attached Image (click to enlarge)
Click to Enlarge Name: homework.JPG Size: 79 KB
  • #7,286
  • Oct 8, 2007 4:08pm Oct 8, 2007 4:08pm
Can you please add ryanmcd4 to the chat.
Keep taking CT trades, I need more money
  • #7,287
  • Oct 8, 2007 4:14pm Oct 8, 2007 4:14pm
gio:

Signal 1 is a nice Rt.
Signal 2 I think is your 365ma but that long candle would be a high risk : low reward entry.

After signal 2 and before the double bottom on your MACD, look where price returned to the 21ma and look at the current trend there. The market rhythm is strong and those were two nice trend continuation entries.

About the double bottom: those two MACD dips should be the same level for a double bottom. I'm not really sure if that is what your are implying or if you want to know if those are Rb's which they are but they are counter trend trades.

The price action between 3 and 4 is very erratic and would be hard to trade. Times like these is where you must be patient and let the market find its way.

The 2nd and 3rd blue lines show a Rt and a Rb that were both counter trend as well. This is where multiple orders help. You exit at the first target and let the other orders find there own way. Money manage ment and order management play just as an important role as the trades do.

If possible, add a few more notes to your chart entries to make things a little easier to interpret.

Again, there are the .pdf files on the website under the Tools link for the printable charts from January 2007 to study as well....
  • #7,288
  • Oct 8, 2007 4:21pm Oct 8, 2007 4:21pm
Quoting giogio15
Please check my homework!

Info
Attached File(s)
File Type: zip Info.zip   773 KB | 1,396 downloads
  • #7,289
  • Oct 8, 2007 7:16pm Oct 8, 2007 7:16pm
USDCHF may have a short in the works.
Keep taking CT trades, I need more money
  • #7,290
  • Oct 8, 2007 9:43pm Oct 8, 2007 9:43pm
Quoting Ryanmcd
USDCHF may have a short in the works.
I saw this as a short opportunity, but my first reason was based on fundamentals - Commitment of Traders for Gold commodity exchange at an extreme- but that's another discussion for another thread.
Upon further review using Phillip's awesome 4h strategy, I see the following:
RT with doji at 200 MA
Strong resistance at 1.1869
1hr RT around the 8ema
My trade is on at 1.1863

st @ 1.1900 - this may be a little high of a RR. Might rethink after London Open.
first TP just above 1.1835
2nd TP just above 1.1800

Time to sleep "...as visions of sugar-pips danced in their heads"
Attached File(s)
File Type: doc CHF071008.doc   110 KB | 633 downloads
  • #7,291
  • Oct 8, 2007 10:49pm Oct 8, 2007 10:49pm
I am Chinese, and very weak at listenning. Philip's lesson is very good but I can't listen it clearly.

Is there any good pal who can write them down to DOC or PDF? Anyone who does this job will recieve my great appriectiaion
Plan your trades and trade your plans
  • #7,292
  • Oct 8, 2007 11:11pm Oct 8, 2007 11:11pm
Still flat, not rushing anything.
Keep taking CT trades, I need more money
  • #7,293
  • Edited 12:23am Oct 9, 2007 12:23am | Edited 12:23am
Quoting saka
I am Chinese, and very weak at listenning. Philip's lesson is very good but I can't listen it clearly.

Is there any good pal who can write them down to DOC or PDF? Anyone who does this job will recieve my great appriectiaion
Hi Saka.
I, OldDog and Nadia are writting every mp3 file in turns. Sorry for being late with yesterday's wrapup, but when Phillip posts them I usually have deep night, so I do them in the morning, it will be ready in an hour.
Ira
  • #7,294
  • Oct 9, 2007 2:15am Oct 9, 2007 2:15am
Here is a written copy of daily wrapup for the 8th of October.
Attached File(s)
File Type: doc 9th of Oct wrapup.doc   28 KB | 597 downloads
  • #7,295
  • Oct 9, 2007 5:00am Oct 9, 2007 5:00am
Quoting Palmer
gio:

Signal 1 is a nice Rt.
Signal 2 I think is your 365ma but that long candle would be a high risk : low reward entry.

After signal 2 and before the double bottom on your MACD, look where price returned to the 21ma and look at the current trend there. The market rhythm is strong and those were two nice trend continuation entries.

About the double bottom: those two MACD dips should be the same level for a double bottom. I'm not really sure if that is what your are implying or if you want to know if those are Rb's which they are but they are counter trend trades.

The price action between 3 and 4 is very erratic and would be hard to trade. Times like these is where you must be patient and let the market find its way.

The 2nd and 3rd blue lines show a Rt and a Rb that were both counter trend as well. This is where multiple orders help. You exit at the first target and let the other orders find there own way. Money manage ment and order management play just as an important role as the trades do.

If possible, add a few more notes to your chart entries to make things a little easier to interpret.

Again, there are the .pdf files on the website under the Tools link for the printable charts from January 2007 to study as well....

Thanks for checking my homework... I already downloaded that PDF files h4 and h1 charts... this chart (i mean my last homework)was from h4 pdf charts.... Thanks for your attention... and now about entries, high probability
i just ignored them because is thought that it was training brain on round bottoms and tops, and double bottoms and tops... But anyway Thank you that you noticed my post and responsed!!!! THANKS MAN!
  • #7,296
  • Oct 9, 2007 5:01am Oct 9, 2007 5:01am
Quoting Phillip Nel
Info
thanks phillip! I understand it and aprecciate!
  • #7,297
  • Oct 9, 2007 5:35am Oct 9, 2007 5:35am
EurUsd. Start to show signs of maybe weakening. MACD D/Bott + RB. This could however only be a retracement back to 8/21 as we are under the 89 so a possible move away for TC is possible.

GbpUsd. TC down from 21 gave opportunity to go short after 0:00 to 4:00 candle. 1H confirmed the move down.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 1h.gif Size: 17 KB
Click to Enlarge Name: gbpusd.gif Size: 22 KB
  • #7,298
  • Oct 9, 2007 6:23am Oct 9, 2007 6:23am
Quoting ira
Hi Saka.
I, OldDog and Nadia are writting every mp3 file in turns. Sorry for being late with yesterday's wrapup, but when Phillip posts them I usually have deep night, so I do them in the morning, it will be ready in an hour.
Ira
ira:

I think saka is wanting to know if any of the actual lesson files have been translated into text. Those are longer than the wrap-ups and I don't think I ever saw those text files in the thread.
  • #7,299
  • Oct 9, 2007 6:31am Oct 9, 2007 6:31am
Quoting Palmer
ira:

I think saka is wanting to know if any of the actual lesson files have been translated into text. Those are longer than the wrap-ups and I don't think I ever saw those text files in the thread.
Hi Palmer,

hmmmm....I think they are posted w/the lessons, but would have to look....
A group of us translated them and pretty sure Phillip posted them w/the lessons about 2 months ago. Guess I should look...and you would know for sure. Helpful? Not much going on in the market at the moment.....today looks like it may be a sleeper....maybe the minutes will spice up the day,eh?

Have a good one!
Pips
  • #7,300
  • Oct 9, 2007 6:45am Oct 9, 2007 6:45am
Upon further investigation (ohhhh...I feel like Sherlock Holmes)....the pdf's of all the lessons are zipped into 2 files posted by Phillip....here are the details...

Page 396 post 5925 and page 397 post 5926

More great info for fxtradeblog.com?

It was kind of sad looking for these posts....saw many old posts by trader's who haven't been around for awhile...hope you guys are lurking still and doing well!!!!

Ok...time to go...

Pips
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