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4 Hour Strategy (MACD)

  • #7,381
  • Oct 11, 2007 9:45am Oct 11, 2007 9:45am
Hi Guys,

Have anyone backtested the EURGBP? I've found it to be a bit of a scary ride.

Comments?

Werner
Phil419
  • #7,382
  • Oct 11, 2007 9:54am Oct 11, 2007 9:54am
Quoting krymskiforex
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.
Hello krymskiforex,

I sent you a message. Please check your PM.......

Thanks,
Nipper
  • #7,383
  • Oct 11, 2007 11:07am Oct 11, 2007 11:07am
HI, Nipper! Phillp meant another target 1.61 level from 1.4230 fib and it will be around 1.4360-75.
  • #7,384
  • Oct 11, 2007 11:10am Oct 11, 2007 11:10am
Quoting ejiexe
Pls what was your stop loss when you entered this trade. I also took it but i was stop out before my tp reached. the r:r would have been bad where i intend putting my stop.
It's usually somewhere below the lowest significant low + a few. I'm not sure exactly what 1hr bar I got in on but if I see that the market rhythm is strong a do use a larger stop so give the trend time to keep moving. The r:r may be a little off but to me it's all about trusting the trend. If I'm a little tentative about the entry I will trade smaller lots so if I'm wrong it doesn't hurt as bad. It's still money. I do move some positions to b/e quick to protect capital and use some of those pips to widen stops on other lots if needed....
  • #7,385
  • Oct 11, 2007 11:20am Oct 11, 2007 11:20am
Quoting alexfot
HI, Nipper! Phillp meant another target 1.61 level from 1.4230 fib and it will be around 1.4360-75.
Thanks Alexfot,

I deleted that post.....
  • #7,386
  • Edited Oct 12, 2007 6:57am Oct 11, 2007 11:21am | Edited Oct 12, 2007 6:57am
Hi,

again a usd/chf trade

here I have tried a mix of 1h and 4h indications


11 oct 07

17:05 gmt

4h candle closes blue, new candle forming

4h macd shows a crucket round bottom

1h macd shows a higher low


usd/chf long 1,1809

sl 1,1768 (slightly below today's low which has proven support) 2x - 41

(a)tp 1,1827 (slightly below sma89 on 1h chart) + 18

(b)tp 1,1848 (slightly below sma200 on 4h chart) + 39


I'm going to pull my sl tightly as soon as I'm on positive ground


I still have my large usd/chf trade open (short 1,798 sl 1,1855 tp 1,1670)


18:00

(a) tp : + 18 pips

(b) sl 1,1809 +/-0


22:44
sl triggered +/-0


total: + 18 pips


large short usd/chf still open


12 oct 07

12:55

sl -57 pips

total of usd/chf trades 11-12 oct 07

+18 pips

- 92 pips
I apprechiate comments and corrections


Greetings
  • #7,387
  • Oct 11, 2007 11:23am Oct 11, 2007 11:23am
Nipper, you did not have to delete your post, it was good too, and the target was hit. It just was another target, but it was interesting chart, it hit 1.38 retraced from there, and then hit 1.61 and is retracing now from there, almost like in textbook.
  • #7,388
  • Oct 11, 2007 12:04pm Oct 11, 2007 12:04pm
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 29 KB
Attached File(s)
File Type: zip Daily Wrapup 11 Oct2007.zip   815 KB | 1,410 downloads
  • #7,389
  • Oct 11, 2007 12:25pm Oct 11, 2007 12:25pm
Quoting Phillip Nel
Info


These TC trades are the hardest for me because I have always counter-trend traded. Any tips on getting better at spotting these? I did get long at 1.4028 but closed it for +35ish but would love to get in this long again. It's easy to see now but at the time I was still looking at shorts. Any help here would be great.
Keep taking CT trades, I need more money
  • #7,390
  • Oct 11, 2007 12:42pm Oct 11, 2007 12:42pm
Quoting Ryanmcd
These TC trades are the hardest for me because I have always counter-trend traded. Any tips on getting better at spotting these? I did get long at 1.4028 but closed it for +35ish but would love to get in this long again. It's easy to see now but at the time I was still looking at shorts. Any help here would be great.
Todays signal on EurUsd was not the easiest to take due to that res line there. I practise a lot going back in history and then using the F12 key in MT4 to shift forward one candle at a time to anticipate and see the rules of the system and make note of when will I enter etc!!!. Practice. that is what it takes.
Phillip
  • #7,391
  • Oct 11, 2007 1:17pm Oct 11, 2007 1:17pm
ejiexe:

I'll get a little more detailed about the stops this evening, slammed right now. I know this stuff is important...

Thanks for the PM Phillip...
  • #7,392
  • Oct 11, 2007 1:20pm Oct 11, 2007 1:20pm
I was waiting all week to take a trade and finally I saw opportunity today morning. I entered long 1.4163 but in the end I collected together only 30 pips;-). The big bullish candle at 12 in 4H chart triggered my SL. It was a great trading lesson for me today. Anyway, thank you Phillip for your today's Wrapup which helped me to understand what I could do better the next time.
  • #7,393
  • Oct 11, 2007 1:48pm Oct 11, 2007 1:48pm
Quoting Palmer
There is now some candlestick info on the website from Phillip. Select the method link, then click on the lesson link, scroll down and you will see the candlestick icon to download the .mp3 file and .gif candlestick info....
This is a copy for those who might have trouble understanding spoken English. You can get the "gif" image from the website. Thanks Phillip and Palmer! I'm starting on today's wrap up next.
Attached File(s)
File Type: doc Phillip Nel- Candlestick Information.doc   7 KB | 813 downloads
  • #7,394
  • Oct 11, 2007 2:44pm Oct 11, 2007 2:44pm
Quoting OldDog
This is a copy for those who might have trouble understanding spoken English. You can get the "gif" image from the website. Thanks Phillip and Palmer! I'm starting on today's wrap up next.
Once again thanks to you all that is doing the typing. You will be rewarded for that. (With lots of pips)
Phillip
  • #7,395
  • Oct 11, 2007 3:14pm Oct 11, 2007 3:14pm
For those with difficulty understanding spoken English. Go to Phillip's post 7389 to get the chart that goes with the commentary.
Attached File(s)
File Type: doc Phillip Nel DailyWrapUp 11 Oct2007 WrittenCopy.doc   7 KB | 649 downloads
  • #7,396
  • Oct 11, 2007 3:27pm Oct 11, 2007 3:27pm
Quoting Phillip Nel
Todays signal on EurUsd was not the easiest to take due to that res line there. I practise a lot going back in history and then using the F12 key in MT4 to shift forward one candle at a time to anticipate and see the rules of the system and make note of when will I enter etc!!!. Practice. that is what it takes.
Phillip

I had the trendline same as you on the chart, I guess the TC trades are new to me. I used to use fractals to add into a trade. Time to go study this some more
Keep taking CT trades, I need more money
  • #7,397
  • Oct 11, 2007 4:14pm Oct 11, 2007 4:14pm
Quoting ejiexe
Pls what was your stop loss when you entered this trade. I also took it but i was stop out before my tp reached. the r:r would have been bad where i intend putting my stop.

This is where I got in on the 1 hr at that bump off the 21 on the 4 hr. I went long ( gray vertical line) at 117.14. That next candle's low was 116.95. I had a 20 to 25 pip target in mind so my stop ended up being several pips below that candle's low and didn't get stopped out. The market started to take off in the morning. The vertical blue line is where I exited on the close of that bar, spinning top, for about 50 pips.
Attached Image
  • #7,398
  • Oct 11, 2007 6:39pm Oct 11, 2007 6:39pm
This is something that might be interesting reading, for those new, on Phillip's philosophy of stop loss. It's from an mp3 on 11March2007, page 153, post 2281.
Attached File(s)
File Type: doc Phillip Nel- StopLosses- 11Mar2007.doc   8 KB | 1,977 downloads
  • #7,399
  • Oct 12, 2007 3:14am Oct 12, 2007 3:14am
EurUsd.
08:00 Wait for TC

GbpUsd.
08:00 Price retested the 89 after it closed below it on previous candle. Pullback to 89 and move away on 04:00-08:00 candle. Possible short to bott supp line drawn from 12/09/2007 08:00 and 24/09/2007 08:00 candle @ ±2.0245.
Entry 2.0305
SL 2.0338
TP 2.0240-45
  • #7,400
  • Oct 12, 2007 6:21am Oct 12, 2007 6:21am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
To ashes,

Yes. I'm using vttrader but I have no idea why your 365ema is acting as resistance whereby mine is acting as support.. I saw your settings nothing wrong with it. maybe you can reset ur ma's again?
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