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4 Hour Strategy (MACD)

  • #7,781
  • Oct 29, 2007 8:15pm Oct 29, 2007 8:15pm
I second that Alex and Shreem. Ryan makes an excellent point.
Best regards,
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,782
  • Oct 29, 2007 11:19pm Oct 29, 2007 11:19pm
Dear Philip,
Many thanks for your invaluable insight. I am new to Forex and have been trading based on fundamentals and use of Parabolic SAR. The result has been 50% or less but your system appears alot more accurate.
I observed that when I use H1 or M5 the MACD direction appears different, please why is this so and can your system also work with the different time settings- M1,M5, H1 etc?
Many thanks once again.
Harry Nnoli
  • #7,783
  • Oct 29, 2007 11:32pm Oct 29, 2007 11:32pm
This seems like an interesting strategy. I look forward to following this thread more closely
  • #7,784
  • Oct 30, 2007 1:40am Oct 30, 2007 1:40am
Quoting Ryanmcd
For the PM's I got about TC trades, don't be lazy read Phillip's post, it's back a few pages, he has 15 trades listed. Again I am willing to help but I don't have the time to post every trade tell why I took it and to tell people what when how and why I took a trade. Even if I did people would still lose it has happened to the past 4 people I have spent too much time with, then they talk bad about me because I was trying to help. Only thing I can say is DON'T BE LAZY, making as much money as you want to is not easy and that's why 5% only make it. It took me 3 years of losses and it sucked. If you read PHILLIP you will make money, if you do all this other crazy stuff and stare at the chart long enough you will find a trade, the wrong one. Stick with the EUR learn it trade it then look at others. 4HR TC TRADE will make you money, it's too easy that's why people lose.
Hi Ryan

Just to say I agree - it took me 8 months to learn Phillip's 5 min system. I've tried to learn the 5min & 4h simultanuously but it didn't work. Now I am back on the 4h after spending 8 months on the 5min system. And the 5min system is the simpler one of the two systems.

So here we go for another 8 months(I think more for this system) of learning.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,785
  • Oct 30, 2007 5:27am Oct 30, 2007 5:27am
Hi phillip and all

Can any body comments on this situation Tc but its at strong R .. so we can enter or should wait for retracment as the previous candle is about 90 pips ?

thx

Ammar
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  • #7,786
  • Edited 6:58am Oct 30, 2007 6:56am | Edited 6:58am
Hi everyone I have taken a deal I have been looking for, if you have comments you are welcome. Here are the details:
1) Signal TC at 12:00 (GMT+2)
2) With the rules of market rhythm - the price closed above 21, went back to it and now should go to the 89MA.
3) Good - bullish candle, and the previous one was not filled. Flag formation, trend lines were broken, RT on daily the price may retrace here to the 21.
4) Concerns - IT, consolidation on daily and interest rates soon.
5) Enter - 114.83
SL + 44+3+4= 51 below 21MA
TP +68 - 89MA
breakeven after 35 pips on the 38.2Fib
R:R=OK
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  • #7,787
  • Oct 30, 2007 7:31am Oct 30, 2007 7:31am
Hi Ira, This week i decided to take up UJ as well. i had been watching it for last couple of weeks, without taking any trades on it, But i Just took the TC same as you with pretty much the same take profit and Stop loss parameters. reasons were the same as well, price motion , I actually smiled when read your post, Very Happy actually. I hope our quest for TC trades pays off. Good luck .
Nadia.
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,788
  • Oct 30, 2007 7:41am Oct 30, 2007 7:41am
JPY should be a good long. It has to take out the 89 though but I am in with you guys. Looking to get into the EUR as well. GBP I am going to hold off on due to the huge bar.
Keep taking CT trades, I need more money
  • #7,789
  • Oct 30, 2007 7:58am Oct 30, 2007 7:58am
aboammar: If you can clear and close above that resistance you should be good. Keep and eye on the news a volatility.

Yen folks: Looks like you guys are in well also. If you can close above the 115.00 area the 89 should get hit as well.
  • #7,790
  • Oct 30, 2007 8:02am Oct 30, 2007 8:02am
Let's see how long it will take for the deal to develop!
  • #7,791
  • Edited 10:34am Oct 30, 2007 8:06am | Edited 10:34am
Hi,

I have taken a trade short on usd/chf

pro: macd BOZ TC signal, pair seems to take leave of 21ema

con: have entered the trade 1h after candle close
pair could go back and pierce through 21ema and trigger sl


30 oct 07

12:57 gmt

usd/chf short 1,1635

sl 1,1660 (atr21+20%) 2x -25

a/b tp 1,1608 (slightly above last lows) 2x + 27

R:R 25:27 1,08


13:25 gmt

a/b sl 1,1640 -5 at + 15 pips
14:00 gmt

a partial tp taken + 27 pips

b trailing stop 15 on other trade


14:15 gmt

b trailing stop taken 1,1615 + 20 pips

total + 47 pips


summary: the TC BOZ was right. I don't know if the trailing stop was a good idea.
I've set it because I thought there was more potential for the pair to go south.
maybe 15 pips were too tight.


I apprechiate comments and corrections

Greetings
  • #7,792
  • Oct 30, 2007 8:48am Oct 30, 2007 8:48am
this system is so easy, I trade 10 currencies and make on average 200 pips a week, just follow the rules in page one
  • #7,793
  • Edited 10:23am Oct 30, 2007 9:47am | Edited 10:23am
Took the 'pseudo-bounce' off the 21 on the 4hr per the 1hr chart last night. This was an aggressive trade since the price action didn't make it all the way to the 21 but..the bull is still running. At the 100% Fib # right now, +70 pips on both lots. I still have Fed jitters and may chicken out again. But, pips in the bank are pips in the bank...

Cluck-Cluck-Cluck

I bailed with 60 pips. MACD bear/div, hitting the 100% Fib #, Fed tomorrow...100 pips in two days per Phillip's magic. No more trades until after the Fed 'talks'...sleeeeep...
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  • #7,794
  • Oct 30, 2007 10:24am Oct 30, 2007 10:24am
Quoting Palmer
Took the 'pseudo-bounce' off the 21 on the 4hr per the 1hr chart last night. This was an aggressive trade since the price action didn't make it all the way to the 21 but..the bull is still running. At the 100% Fib # right now, +70 pips on both lots. I still have Fed jitters and may chicken out again. But, pips in the bank are pips in the bank...

Palmer your making your own rules, just sit tight and wait. Sure it may work but it's not the 4hr system lol
Keep taking CT trades, I need more money
  • #7,795
  • Oct 30, 2007 10:25am Oct 30, 2007 10:25am
Long EUR short CHF. 4HR TC TRADES. Stopped out JPN @ cost.
Keep taking CT trades, I need more money
  • #7,796
  • Oct 30, 2007 10:25am Oct 30, 2007 10:25am
Could we finally get a TC on the Euro today? Looks promising.........Waiting on the 16:00 candle to close.......Interest rate news tomorrow could really help or hurt this trade..........pippip.........Jimdandy
  • #7,797
  • Oct 30, 2007 10:27am Oct 30, 2007 10:27am
I just finished reading the entire thread and listening to every one of Phillip's mp3 files. I haven't become a sucessful trader so far in my journey, but after listening to many things Phillip has taught I now feel that things are coming together and all the books i've read and knowledge i've gained is "clicking". I look forward to becoming a part of this excellent "family" by learning and contributing. I know that one day I will now take the time to teach others the way and show them the truth as Phillip has so kindly done for me.

Now let's make some pips!
"The market pays you to be disciplined"
  • #7,798
  • Oct 30, 2007 10:35am Oct 30, 2007 10:35am
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  • #7,799
  • Oct 30, 2007 10:46am Oct 30, 2007 10:46am
Quoting Ryanmcd
Palmer your making your own rules, just sit tight and wait. Sure it may work but it's not the 4hr system lol
I agree 100%, getting a little too carried away here. Need to come up for air for a little while....
  • #7,800
  • Oct 30, 2007 10:51am Oct 30, 2007 10:51am
Ryan did u take an early entry on euro TC , or what time yuor candle closes . Also can u post a chart to specify your entry, Thanks, Much appreciated
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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