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4 Hour Strategy (MACD)

  • #7,541
  • Oct 20, 2007 11:17am Oct 20, 2007 11:17am
Phillip, in your mp3 file you talked about trading just the TC patterns. Because I am new to this type of trade could you post up a few of the TC trades for us to look at and learn please?


Thanks again
Ryan
Keep taking CT trades, I need more money
  • #7,542
  • Oct 20, 2007 11:54am Oct 20, 2007 11:54am
Quoting Ryanmcd
Phillip, in your mp3 file you talked about trading just the TC patterns. Because I am new to this type of trade could you post up a few of the TC trades for us to look at and learn please?


Thanks again
Ryan
The advantage is that you trade in the direction of the trend.

STUDY POST 7515 AS THEY ARE ALL TC SIGNALS
Attached Image (click to enlarge)
Click to Enlarge Name: Trend Continue Signal.gif Size: 27 KB
  • #7,543
  • Oct 20, 2007 1:05pm Oct 20, 2007 1:05pm
If I remember well, Phillip Nel is from South Africa.

So Good luck for South Africa Rugby team against the England team for the championship 1rst place.

Hani
  • #7,544
  • Oct 20, 2007 2:05pm Oct 20, 2007 2:05pm
Hi, here is a written copy for post 7521, "Trades for october "please refer to that post for pdf charts and mp3. thanks.
Nadia.
Attached File(s)
File Type: doc Trades for october.doc   4 KB | 644 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,545
  • Oct 20, 2007 8:24pm Oct 20, 2007 8:24pm
http://www.forexfactory.com/images/icons/icon1.gif 4 Hour Strategy
"Don't try to take every signal the MACD is given. When there is none on the EurUsd or the GbpUsd we jump to other pairs and then we are actually looking for a trade and it is not going to be long and we will find one. You must not look for a trade. If the system does not have one there is not one.

Stay with the currencies you are fimiliar with."

"The facts are in front of me therefore I will do this and that"


The above thoughts of Philip is really a piece of gold. It help me a lot to remember to not jump on a trade when there is none. That is a great advice Phillip and thank to share this with us. (original post is post 400 on page 27.)

It is incredible, time to time, how the mind can play tricks on us to suggest us to make a trade for any kind of reasons like hey! I am sitting here for 2 hours and no setup, it is not possible that I cannot find one in of the many pairs I trade. That is the kind of thought process that can bring us to look for a low probability trade.

Like so much teh above post of Phillip that I printed it and keep it near my computer and look at it before I make a trade.

Thank again Phillip for all your generous efforts to help us all to become successufl traders

Sincerely

Shreem
  • #7,546
  • Oct 20, 2007 8:25pm Oct 20, 2007 8:25pm
Quoting ira
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
Hello Ira,

thank you for your words. Staying with the system, disciplined and patient.
Yes, that's what I try to learn here. Learning to deal with the psychological
effects of forex trading is as important as the complete understanding of the system one trades.
I'm glad to have company on this path by Phillips daily wrapups and by
fellow traders like you and all the other active participants.
Each month makes me understand this system better and I will be happy
to gradually contibute more of value to the thread.
This community provides the communication a novice trader like me needs
to understand and to learn how the market works out of the 4H Strategy-prespective.
I'm really happy having found this thread here on the forum and I'm looking forward to the experience next week will bring.

A good sunday to you.


Greetings
  • #7,547
  • Oct 21, 2007 1:59am Oct 21, 2007 1:59am
Quoting Phillip Nel
Trades for October. 80% was done live on the thread and or skype. Look at the TC EurUsd Backtesting (Post 7515) and see if it is obtainable or not.
Phillip
Ty, i will have a look. I would like to test ur system, but too many posts...is ur first post still ok for understanding ur system, any update that I should read ? Ty again phil.
  • #7,548
  • Oct 21, 2007 3:30am Oct 21, 2007 3:30am
Dear Phillip

I wish you are very happy as South Africa Rugby team win the England team for the championship and they are the hero

Best wishes
  • #7,549
  • Oct 21, 2007 7:04am Oct 21, 2007 7:04am
Quoting Mike59
Ty, i will have a look. I would like to test ur system, but too many posts...is ur first post still ok for understanding ur system, any update that I should read ? Ty again phil.
Mike, check out post no.1, Phillip has a link, which he edited, to where you can get the lessons.
  • #7,550
  • Oct 21, 2007 7:32am Oct 21, 2007 7:32am
Quoting aboammar
Hi

Yes hope so .. attach your tam.

Thx
Ammar

please...
mine tpl ))


in x.tpl
I added to macd 5,13,1 stoch'a 100.3.3
stoch reflects very good situations... and levels 20-80 they make easy the reading of the signal from macd
Attached File(s)
File Type: zip x.zip   28 KB | 611 downloads
File Type: zip xx.zip   27 KB | 591 downloads
  • #7,551
  • Oct 21, 2007 7:49am Oct 21, 2007 7:49am
like here
Attached Image (click to enlarge)
Click to Enlarge Name: bez.PNG Size: 39 KB
  • #7,552
  • Oct 21, 2007 9:18am Oct 21, 2007 9:18am
Hmmm, some new faces. You can check out the website also. I know I've said this several times, but it does help. There are two .pdf files under the Tools link that have the 4hr and 1hr charts for the EURUSD from the beginning of the year through the first week of October. It's a good exercise to print these out and make notes on them about the MACD patterns and how price reacts to the moving averages.....
  • #7,553
  • Oct 21, 2007 9:34am Oct 21, 2007 9:34am
I have a question about profit target. if you get into a trade and there is no clear s/r line, no MA.s nearby etc, how do you choose your profit target? Do you put in a trailing stop or how do you deal with it?
  • #7,554
  • Oct 21, 2007 10:51am Oct 21, 2007 10:51am
Hello!
I am one of this guests you have seen in the last 2 months in this thread.
I have studied this thread page by page and it is very interesting to see how it is developing - it’s like a Family or a community sticking together, helping each other: great!!!

Thank you Phillip for your initiative!!!

Some words about me: I am sitting in Heidelberg (Germany), I have just finished my University (Economics) and since half a year I am interested in trading. So I am still a newbie in the Forexmarket but I am learning every day.

I whish you a successful week!
BernhardA
  • #7,555
  • Oct 21, 2007 11:48am Oct 21, 2007 11:48am
Quoting ekling
I have a question about profit target. if you get into a trade and there is no clear s/r line, no MA.s nearby etc, how do you choose your profit target? Do you put in a trailing stop or how do you deal with it?


Hello ekling!
I will try to answer you but don’t forget I am still a newbie

Traling stop could be an option. On Page 63 Phillip is talking about other possibilities:

Quoting Phillip Nel
I use previous highs, price levels and then Fibonacci and sometimes also pivots. My other one is that the EurUsd moves in beats of 60pips or half beats. So it is 30,60,90,120. If there is no other indication I will use the beats.


Also the lessons 1-13 on page 289 to 291 are very helpful to understand where to put the profit target. Also (as I understand Phillip correctly) he is mostly taking partial profits at different Levels (See page 1 “Planning your Trade.pdf”)

I hope I could help you
BernhardA
  • #7,556
  • Oct 21, 2007 12:33pm Oct 21, 2007 12:33pm
phillip,

do you enter the trade at the signal candle, signal MACD bar on the 4 hr chart....or enter after the signal bar on the 4hr chart??


thank you for your help and all your work!
  • #7,557
  • Oct 21, 2007 1:01pm Oct 21, 2007 1:01pm
I just wanted to take a sec and say thanks for all this information. I have followed the market here and there for a few years and just recently came back from a break. This thread (and this site) have helped me learn more than any book ever could. I just opened my first live account and hope to be able to use this method to its fullest capacity. Wish me luck!
  • #7,558
  • Oct 21, 2007 4:53pm Oct 21, 2007 4:53pm
Tc off the 21 per the 1hr...

I took the bounce off the 21 on the 4hr chart and entered on the 1hr. This was a late trade on Friday. I held on to it over the weekend...rarely do that but with the bad news on Wall Street I was 'guessing' that the $ would tank on Monday. I guess I guessed right. Holding on to one right now with a generous stop at b/e..
Attached Images
  • #7,559
  • Oct 21, 2007 6:45pm Oct 21, 2007 6:45pm
Hello Palmer, great call that you have made. I hope that you are still in the trade. The 4H MACD does have given a trend contination pattern but as it opened as a gap, was not really confident to open a position. Prefering to look how the beginning of the week will unfold.

Again, great trade Palmer

Sincerely

Shreem
  • #7,560
  • Edited 7:41pm Oct 21, 2007 7:25pm | Edited 7:41pm
Yeah, I'm kind of waiting for that gap to be filled, they 'usually' do. My stop is at b/e right now (below that gap) but those 50 + pips are tempting..

EDIT: I'd like to add that I entered this trade position(s) on a lower leverage because I was going to hold this over the weekend and anything can happen.
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