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4 Hour Strategy (MACD)

  • #7,521
  • Edited 5:10pm Oct 18, 2007 4:45pm | Edited 5:10pm
Hello Phillip, thank very much for the MP3 on the pull-back trade that you did this morning. Absolutely, it help a lot and it is much appreciated.

I really see the point sometime to lower down to the 1H or 30 Min candles to have a clearer picture of the retracement anf find the best entry spot according to the motion of the market.

Very well done analyis as usual.

to Mcain and OldDog: thank for the welcome back

Have a good day all great trading day tomorrow

Sincerely

Shreem
  • #7,522
  • Oct 18, 2007 6:05pm Oct 18, 2007 6:05pm
Quoting Phillip Nel
Info
Phillip,
on the excersise there are some tc like on 8/24/07 where the tc bars were several before the trend continued. Is that ok. I thought a tc was only after on maybe two color changes on the bar
  • #7,523
  • Oct 19, 2007 4:10am Oct 19, 2007 4:10am
Just a quick word of appreciation on behalf of all the lurkers to Philip(especially), pips, palmer and all the rest of the contributors who have made this thread such a wonderful educational tool, It is amazing that this quality of information is available to all free of charge.

And one more thing

GO THE BOKS!!!!!
  • #7,524
  • Oct 19, 2007 5:00am Oct 19, 2007 5:00am
Quoting BAASDAAN
I have been test driving the system for a few weeks now and really like everything about it - many thanks Phillip ( Bakgat man!) I saw some mention of a skype forum and was wondewring how one could participate in that. I trade +-6 hrs full time and have access to my computer to check most of the 4 hour time intervals
Daniel
Bakgat Daan, see this post from Phillip
Quoting Phillip Nel
My Skype name is chanan13. Contact me through skype and I will add you to the 4H chat

I am on leave this week and doing some live trades. When I am working I cannot trade during London session and 2 hours of Us so live trades for me are very few.
Hope that helps.
  • #7,525
  • Oct 19, 2007 5:27am Oct 19, 2007 5:27am
Friday:

EurUsd and GbpUsd.



12:00 Shut my computer down and took my fishing gear (without a laptop) so it will be fishing.
  • #7,526
  • Oct 19, 2007 5:44am Oct 19, 2007 5:44am
Quoting gskinstad
Just a quick word of appreciation on behalf of all the lurkers to Philip(especially), pips, palmer and all the rest of the contributors who have made this thread such a wonderful educational tool, It is amazing that this quality of information is available to all free of charge.

And one more thing

GO THE BOKS!!!!!
http://tbn0.google.com/images?q=tbn:...Springboks.JPG

Well what can I say!
Phil419
  • #7,527
  • Oct 19, 2007 7:22am Oct 19, 2007 7:22am
Quoting PhilsOpinion
Friday:

EurUsd and GbpUsd.



12:00 Shut my computer down and took my fishing gear (without a laptop) so it will be fishing.
That' just not fair....Saltwater or freshwater?

We've had a lot of rain in the past few days here in NW Florida...NEEDED rain. We've been in a drought all year, a bad one. Internet connection, and power was out last night. At work right now, still raining which is good. Saw the Rb and Rt in the EUR$ and $Yen this morning. The Rt in the EUR$ may still be working for some, not sure. The Rb in the $Yen looked like it made the MACD pattern by one pip (the first green bar then down for the next two) was flat. The next Rb first signal looked better and is still working. Hmmm, wonder if there is any significance to a Rb or Rt that created the MACD signal by one pip is significant? Meaning, it turned into a loss....work work work,

Hey post # 1,000!!! Where's my t-shirt?
  • #7,528
  • Oct 19, 2007 8:44am Oct 19, 2007 8:44am
Hello
I'm new in this forum. I've read something about this system and it sounds very good, even if i have to understand something more. I'm trying to add some of my personal indicator. This is a picture of result: cold it be helpful?
I think many of you have a work other than trading: how do you manage your time? How are you able to trade? how do you get organized?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine.JPG Size: 140 KB
  • #7,529
  • Oct 19, 2007 9:36am Oct 19, 2007 9:36am
Hello, sorry for being late with a written copy, there wasn't electricity for the whole day. OK, here is a written copy of TC file, for pdf look at the post 7515.
Attached File(s)
File Type: doc TC.doc   28 KB | 923 downloads
  • #7,530
  • Oct 19, 2007 9:55am Oct 19, 2007 9:55am
Quoting ira
Hello, sorry for being late with a written copy, there wasn't electricity for the whole day. OK, here is a written copy of TC file, for pdf look at the post 7515.
That's funny Ira! And, I have no water for a whole day! не шучу!

RT on E/U this morning on the 4:00 candle GMT+1
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd_Oct_19_07_4hr_RT_1A.GIF Size: 15 KB
  • #7,531
  • Oct 19, 2007 10:07am Oct 19, 2007 10:07am
Quoting lucmat
Hello
I'm new in this forum. I've read something about this system and it sounds very good, even if i have to understand something more. I'm trying to add some of my personal indicator. This is a picture of result: cold it be helpful?
I think many of you have a work other than trading: how do you manage your time? How are you able to trade? how do you get organized?
Thanks
Hello Lucmat.

First of all WELCOME! You are very lucky to be on this thread, and we are too . I'm not sure about the indicators, but you can go to the http://www.fxtradeblog.com site, Palmer has made it to keep all the files connected with this system in one place, and here you can find the MACD with ready settings and I think a template, not sure about that, Palmer?

As for the time managment, this system is perfect. You can check only every four hours to see if there is something developing. Market rhythm is really a magic, study it, and then you'll anticipate certain moves and signals. You will know beforehand if there will be something or not.
  • #7,532
  • Edited 10:26am Oct 19, 2007 10:16am | Edited 10:26am
Quoting Nipper
That's funny Ira! And, I have no water for a whole day! не шучу!

RT on E/U this morning on the 4:00 candle GMT+1
Hi Ken, yes funny.
I think if I had taken this RT I would have been stopped, there is a trend line and THEY have been taken the stopes, I think.

PS Your chart looks better, could have been a good trade to the 21.
Attached Image (click to enlarge)
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  • #7,533
  • Oct 19, 2007 10:53am Oct 19, 2007 10:53am
Hi Ira
thanks for your welcome!
I post another image. There are trades i've made in demo mode using Phil's system with my indicator: I look at macd and enter when my indicator is oversold (if buy) and overbought (if sell) (I compare signals with same indicators but other length. The bars with green vertical line are buy bar at close, bars with other vertical line are sell bar at close. Stop loss is always 50 pips and profit take depends on other indicators.
Thanks for this forum
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine.JPG Size: 150 KB
  • #7,534
  • Oct 19, 2007 11:04am Oct 19, 2007 11:04am
Quoting ira
Hi Ken, yes funny.
I think if I had taken this RT I would have been stopped, there is a trend line and THEY have been taken the stopes, I think.

PS Your chart looks better, could have been a good trade to the 21.
Hi Ira

My first trade for months using this system (concentrating on 5min system). I went short @1.4296 and was aiming for the 21MA. I was a bit late with the entry - not really during the opening of the candle - luckily for me.

Took partial profit after 20pips and move SL to BE with 15pip trailing SL (was a bit worried after UK GDP figures). Took another 12pips before trailing SL was triggered with that tail upwards.

Nett of 16pips. Not to bad for rusty part timer.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071019 4h trade 1.gif Size: 19 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,535
  • Oct 19, 2007 12:36pm Oct 19, 2007 12:36pm
Hey Golfer! taking a break from the 5min charts aye? Hope all has been going well.

lucmat: Everyone's trading times and styles are a little different. Some method followers only trade the 4hr charts and the MACD signals and don't even worry about the 1hr trend continuation signals. As far as trading times go, that depends on where you live, job stuff, family life...everyone is a little different. I have a laptop at work with a wireless broadband card so I don't use any of 'their resources' so I can monitor the full NY session. I do set alerts during the Europe session and sometimes the Asian session. No wifey, no kids, well I do have one on the way..think I'll name her Nissan 350Z when she arrives....

The method is the same from day one. If you want to add other indicators or filters, that's fine, whatever works for you. Phillips has done an immense amount of work backtesting and reviewing charts and it's 'all good' as is.

I'm done for the week. I'll update the site tomorrow with the downloads and charts for the week.

Have a safe weekend everyone...GO BAMA!
  • #7,536
  • Oct 19, 2007 1:21pm Oct 19, 2007 1:21pm
Quoting Palmer
Hey Golfer! taking a break from the 5min charts aye? Hope all has been going well.

lucmat: Everyone's trading times and styles are a little different. Some method followers only trade the 4hr charts and the MACD signals and don't even worry about the 1hr trend continuation signals. As far as trading times go, that depends on where you live, job stuff, family life...everyone is a little different. I have a laptop at work with a wireless broadband card so I don't use any of 'their resources' so I can monitor the full NY session. I do set alerts during the Europe session and sometimes the Asian session. No wifey, no kids, well I do have one on the way..think I'll name her Nissan 350Z when she arrives....

The method is the same from day one. If you want to add other indicators or filters, that's fine, whatever works for you. Phillips has done an immense amount of work backtesting and reviewing charts and it's 'all good' as is.

I'm done for the week. I'll update the site tomorrow with the downloads and charts for the week.

Have a safe weekend everyone...GO BAMA!
Hi Palmer

Yes and no, not really. I still follow the 4h system but didn't trade it for a while. Wanted to get the 5min system well understand and be able to see high probability trades. After 8 months I do feel more comfortable now but not yet confident.

One of the criteria I am looking for is that the 5min trade should be in line with the 4h price motion/movement rules. So lately I was watching the 4h charts more closely and Phillip's encouragement I am back.

Tx Phillip, for all your time and efforts. I am still with you all.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,537
  • Oct 20, 2007 1:16am Oct 20, 2007 1:16am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Quoting lucmat
Hello
I'm new in this forum. I've read something about this system and it sounds very good, even if i have to understand something more. I'm trying to add some of my personal indicator. This is a picture of result: cold it be helpful?
I think many of you have a work other than trading: how do you manage your time? How are you able to trade? how do you get organized?
Thanks
Hi, I can see that you are a fellow Vttrader user. Are you using a live account? Because I've experience serious disconnection on Vttrader live account and its getting annoying and irritating. It just lost is connectivity and relogin every now and then. It gets worse when its nearing news time. I just wonder if you have the problems as well?

We all have jobs and families to take care of, we do trades like after our work and it also depends what timezone you are in to trade which market. I'm fortunate to be in a timezone whereby I can trade the 3 major markets. Hmm, I'm still studying so plenty of time to trade and look at charts..

Anyway, welcome to the family!! There are lots of things to be learn and experiment with! Hope you will understand the system soon!! Pip well
  • #7,538
  • Oct 20, 2007 1:24am Oct 20, 2007 1:24am
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
A few of us took the short move(Round Top) on the EU, however, we were stopped out. Price pierced through the trendline and take out stoplosses. I wonder if this is a geniune mistake or its just that market didn't want us to make some pips?? I set my stoploss at 1.4310, unfortunately, it was taken out. I think nadia suffered the same situation as I.. Those shorted and make a profit, where did you placed your stoploss without getting hit?

I forgot to add something. I realized if the macd produced a weak signal, a flat round top/bottom. Its better not to get in. In my case, my macd produced a weak round top signal, it means the market has no momentum or volume when the bar actually closed, therefore its unwise to enter the market. Anyone share the same sentiment as me?
  • #7,539
  • Oct 20, 2007 10:11am Oct 20, 2007 10:11am
Info
Attached File(s)
File Type: zip Weekly Wrapup.zip   804 KB | 1,484 downloads
  • #7,540
  • Oct 20, 2007 11:16am Oct 20, 2007 11:16am
Quoting shauny
A few of us took the short move(Round Top) on the EU, however, we were stopped out. Price pierced through the trendline and take out stoplosses. I wonder if this is a geniune mistake or its just that market didn't want us to make some pips?? I set my stoploss at 1.4310, unfortunately, it was taken out. I think nadia suffered the same situation as I.. Those shorted and make a profit, where did you placed your stoploss without getting hit?

I forgot to add something. I realized if the macd produced a weak signal, a flat round top/bottom. Its better not to get in. In my case, my macd produced a weak round top signal, it means the market has no momentum or volume when the bar actually closed, therefore its unwise to enter the market. Anyone share the same sentiment as me?

I got stopped out as well, just bad luck that was my only loser this week.
Keep taking CT trades, I need more money
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