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4 Hour Strategy (MACD)

  • #7,461
  • Oct 15, 2007 4:46pm Oct 15, 2007 4:46pm
Nice trades to those who took the bounce off the 21 per the 4hr using the 1hr, you're making Phillip proud. I had 9 different Microsoft Excel sheets and 2 Access sheets open at the same time at work on two monitors. When I actually had time to look at a chart today, everything was mush so I pushed that aside. Hoping things are a little better tomorrow.

Sometimes life just gets in the way...
  • #7,462
  • Oct 15, 2007 10:02pm Oct 15, 2007 10:02pm
Thank you mikewong and owkenobi for taking the time to give me that information. I am truly amazed at the amount of help that one can get in this forum . I feel blessed that I even found it. Thank you guys! I will give it try and let you know how it works out!
Rick
Quoting mikewong
Hey Rick,

In MT4 main screen, look at top left corner where you have file, insert, view , tools etc.

Go to Insert (the tabs on the top menu of the prog) and click on indicators. Go to Trend and look for Moving Average.
You'll be prompted by a screen (pop up box) below and it will query you to fill in the fills like what sort of MA, (EMA? SMA? Weighted Avg etc) and also include the period like 89, 200, 365 , 21 and 8. It's all there. Another drag down box is for application to close, open , high low etc.

Please take a look at the screen shot below. Hope this helps.
  • #7,463
  • Oct 16, 2007 1:28am Oct 16, 2007 1:28am
EurUsd.


08:00 Could be a move away from 8ema. Will wait for further direction and candle confirmation.






GbpUsd

08:00 Countertrend. Like the perfect rounding of RT. Quick in and out
  • #7,464
  • Oct 16, 2007 3:34am Oct 16, 2007 3:34am
Hello

I have entered a trade on gbp/usd which fortunately was a winner

16 oct 07

00:02 gmt

 short 2,0416

sl 2,0471 2x +55 above TL

tp a 1,0374 +42 ema21

tp b 2,0344 +72 sma89

R:R - 110 : + 114

R:R = 1:1,04


total: + 114 pips




I have the feeling that I've just had luck.
1h chart did not confirm this trade at all because the gbp/usd was riding north on the ema8 at
that time.
I have entered anticipating a reversal trade because of the consolidation
pattern gbp/usd is in.


What do you think about this trade? Was the entry at 00:02 gmt too hasty?
Have I exposed the trade to a high risk?


Greetings
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 274 KB
  • #7,465
  • Oct 16, 2007 4:35am Oct 16, 2007 4:35am
What the hell happened?
I took in E/J that seemed be 21EMA bounce before go to bed my stop lost was touched.
At least my money management saved me again of something worse.
Like in ashes' phrase : I'm still alive to trade another day.
  • #7,466
  • Oct 16, 2007 4:48am Oct 16, 2007 4:48am
Hello to Phillip, Palmer, Pips4youandme, Ira, tamras and all, after a long absence, I am back on this great thread.

I am happy to see that this thread is growing day by day and lot of people interacting together.

Palmer, a very great thank to to the website that you have put for this method.

Phillip, your continued dedication is just incredible. Thank you very much for your continue effort to enlighten us.

Happy to be back and great pips to all

Sincerely

Shreem
  • #7,467
  • Oct 16, 2007 5:40am Oct 16, 2007 5:40am
EurUsd.
08:00 No TC yet. Wait for next candle.
12:00 Break down to 89. Will wait for further candles


GbpUsd
08:00 Countertrend. Entry at 2.0414 SL 2.0440 TP ±2.0479. Like the perfect rounding of RT. Quick in and out
12:00 Movement was quick. TP shifted to 89 @ ±2.0355. Moved past 89m Patial profit taken at 89. TP on remainder shifted to 200 @ ±2.0260. SL just above 89 @ 2.0355
  • #7,468
  • Oct 16, 2007 7:10am Oct 16, 2007 7:10am
Quoting POCk
hello
"shows the time and nacd color at the top "
this "Macd color at the top" is not a indicator
this only is the text... (in scren marks on in red)


but as you want I can add here
my tpl... and indicator )
Hi

Yes hope so .. attach your tam.

Thx
Ammar
  • #7,469
  • Oct 16, 2007 8:59am Oct 16, 2007 8:59am
Both pairs uncertain now
  • #7,470
  • Oct 16, 2007 9:15am Oct 16, 2007 9:15am
I have a question on the rt trade that Phillip posted this morning. I thought a round top needed to have a red bar form on the 4hr macd. My chart shows the red bar but when that 4hr bar closed the move was allready over. Thanks for your help.
  • #7,471
  • Oct 16, 2007 10:02am Oct 16, 2007 10:02am
Quoting JimTatum
I have a question on the rt trade that Phillip posted this morning. I thought a round top needed to have a red bar form on the 4hr macd. My chart shows the red bar but when that 4hr bar closed the move was allready over. Thanks for your help.
Look at the bar closing times of your platform. My MACD had 2 red bars

I took the countertrend trade based on that perfect Round Top on price and MACD. The left half was formed perfectly round. Look in history and see what % accuracy it gives when it look like this one.

Phillip
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd 4Hour.gif Size: 26 KB
  • #7,472
  • Oct 16, 2007 10:12am Oct 16, 2007 10:12am
Here is the written copy of OCT 15th wrap up. please refer to post 7460 for the MP3 , thankyou.
Nadia
Attached File(s)
File Type: doc Phillip Daily wrap up for OCT 15th.doc   6 KB | 764 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,473
  • Oct 16, 2007 11:39am Oct 16, 2007 11:39am
Quoting ashes
Hello

I have entered a trade on gbp/usd which fortunately was a winner

16 oct 07

00:02 gmt

short 2,0416

sl 2,0471 2x +55 above TL

tp a 1,0374 +42 ema21

tp b 2,0344 +72 sma89

R:R - 110 : + 114

R:R = 1:1,04


total: + 114 pips




I have the feeling that I've just had luck.
1h chart did not confirm this trade at all because the gbp/usd was riding north on the ema8 at
that time.
I have entered anticipating a reversal trade because of the consolidation
pattern gbp/usd is in.


What do you think about this trade? Was the entry at 00:02 gmt too hasty?
Have I exposed the trade to a high risk?


Greetings
Ashes, -- It's hard to keep track of people's trades, but I have the feeling that you have had a number of big winners. How about your losses? Have they been large or small, relative to your wins? I think you are doing more right than you are giving yourself credit for, and I also think that you understand this system better than the way you are presenting yourself.

What I would like for you to do (and I'm saying this for myself as well as for you because I think confidence building is important because it affects how we trade) is to analyze your trades from two sides, either for yourself alone or for all of us (I think we can all learn a lot from your analysis!). What did you do wrong, and what did you do right? It's seldom that we do everything right or everything wrong, and looking at both sides of the equation should help not only you but all of us, if you choose to put it on the thread. The best! I always learn from your posts.
  • #7,474
  • Oct 16, 2007 11:47am Oct 16, 2007 11:47am
Quoting ekling
Allright thanks! But is there a way to "rewind"? I dont wanna see today or yesterdays candle, i wanna rewind lets say 2 weeks and THEN press F12 to make them appear one by one. Is that possible?
Turn off the auto scroll and then click and drag the chart to the right as far as you want to go. Then to progress one candle at a time use the F12 key.

Mister ED
  • #7,475
  • Oct 16, 2007 12:28pm Oct 16, 2007 12:28pm
Quoting OldDog
Ashes, -- It's hard to keep track of people's trades, but I have the feeling that you have had a number of big winners. How about your losses? Have they been large or small, relative to your wins? I think you are doing more right than you are giving yourself credit for, and I also think that you understand this system better than the way you are presenting yourself.

What I would like for you to do (and I'm saying this for myself as well as for you because I think confidence building is important because it affects how we trade) is to analyze your trades from two sides, either for yourself alone or for all of us (I think we can all learn a lot from your analysis!). What did you do wrong, and what did you do right? It's seldom that we do everything right or everything wrong, and looking at both sides of the equation should help not only you but all of us, if you choose to put it on the thread. The best! I always learn from your posts.

Hello OldDog,

thank you for your reply. Last week I have had some huge losses. I entered either hasty on 9 oct eur/usd -66 pips or too late on 11 oct usd/chf -35 pips. on 11 oct I entered a stupid trade according to the daily chart on usd/chf that got stopped out on 12 oct -92 pips. I have earned +18 pips on usd/chf also on 11 oct.
Last week wasn't good and I try learning from it.

The big question to me is when to enter a trade. How far can one
anticipate the future movement according to patterns and indicators.
Is it really neccessary to wait for candle close? etc, etc.

I will include further analysis to my trades. Thank you for your suggestion
and for your kind and confidence building words.


Greetings
  • #7,476
  • Oct 16, 2007 12:32pm Oct 16, 2007 12:32pm
Quoting shreem
Hello to Phillip, Palmer, Pips4youandme, Ira, tamras and all, after a long absence, I am back on this great thread.

I am happy to see that this thread is growing day by day and lot of people interacting together.

Palmer, a very great thank to to the website that you have put for this method.

Phillip, your continued dedication is just incredible. Thank you very much for your continue effort to enlighten us.

Happy to be back and great pips to all

Sincerely

Shreem

Hi Shreem, welcome back !!!! It's been long, we are glad that you are with us again.
  • #7,477
  • Oct 16, 2007 12:40pm Oct 16, 2007 12:40pm
Yes i know i can do that, you dont seem to understand If i do as you say, the last bar will be at the edge of the screen, to the right. I want some space after that bar, you know like i get with the "chart shift" button. So in theory i wanna erase a couple of hundred bars and then bring them back one by one... I dont like when its to tight between the bar and the right frame of the window....

Thanks anyway
  • #7,478
  • Oct 16, 2007 1:14pm Oct 16, 2007 1:14pm
Quoting ashes
Hello OldDog,

thank you for your reply. Last week I have had some huge losses. I entered either hasty on 9 oct eur/usd -66 pips or too late on 11 oct usd/chf -35 pips. on 11 oct I entered a stupid trade according to the daily chart on usd/chf that got stopped out on 12 oct -92 pips. I have earned +18 pips on usd/chf also on 11 oct.
Last week wasn't good and I try learning from it.

The big question to me is when to enter a trade. How far can one
anticipate the future movement according to patterns and indicators.
Is it really neccessary to wait for candle close? etc, etc.

I will include further analysis to my trades. Thank you for your suggestion
and for your kind and confidence building words.


Greetings
Ashes, wanted to post it last week, but didn't have time. So here it goes...
I could see from your posts that you had a very bad week. It's very good to see that you are learning from it and not beating yourself for it. You are really doing great, posting your trades, I know that it takes a lot of courage.

I also had a number of bad weeks, and know how hard it's to recover from them. You feel frustrated, angry and all other kind of psychological stuff. There is also a desire to change something in the system as it looks to you that it doesn't work proper. And slowly you come to understanding that it's not a system, the problem is in yourself, and if you can't change yourself, you won't be successful.

And all these words you are so tired to hear - patience and discipline, are no longer words, they become part of you. It takes a lot of time, we shouldn't forget that Phillip worked on this system for two years.

You are doing really great job, you are trying to find out what works for you and what doesn't, don't force this process, it's very long and difficult, but the reward is worth it. I'm also still on this path, but I feel much better now. I know that the system works, and if I will listen to Phillip and do what he teaches us, I will become a successful trader.

Today I didn't take any trades, and when I saw that the market went where I anticipated it to go I felt bad for a moment, but then I thought, well I've been very disciplined, and this fact made me feel happy.

Only yesterday Nipper told me that it is really important that Phillip is here with us every day, and I thought to myself - wow, it absolutely true!!! And we have here such a wonderful company, it's really amazing. I don't know, maybe I would have already quit forex, if not this thread!

OK, this post is too long already, and there is too much about me , hope you will figure out what I wanted to say.

Ira
  • #7,479
  • Oct 16, 2007 1:21pm Oct 16, 2007 1:21pm
HI Ira just wanted to say that your post is not just about you its about most of us, especially ME. Guess what i am doing right now. Going through the exercise PHILLIP had posted once with EURO trades taken one by one . Need to refresh over and over agian. .
NADIA.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,480
  • Oct 16, 2007 1:25pm Oct 16, 2007 1:25pm
Hi everybody,
I think there are certain settings for each Pair of currency, What is that settings?
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