4 Hour Strategy (MACD)

Quoting Palmer

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Agreed. It's going to be fun to watch tomorrow. I plan on having a 'Dr.'s Appointment' tomorrow right around 12:30 or so....

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Quoting ira

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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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Quoting pips4uandme

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Hi Ira!

See your trade just hit BE move point!! Nicely done! See you and Nadia made pips! Great Job

Best,
Pips

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Quoting ira

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Hi, Pips! Yes, it took almost 24 hours for the trade to develop and the price went very close to my SL, but it wasn't hit. Only a good lesson from you about putting SL has saved my deal.
I have decided to close this deal at +32 on 38.2 Fib, because of the rates coming. Prefer to sit with the pips in the pocket and watch the wild market on the sidelines. I think I haven't got enough experience to trade the news.

I have just writtten in my trading journal - it is amazing when you are confident in your trade. You know it can be loss, but you also know that the chance for profit is higher, so you just sit and wait - no feelings, wonderful! More often in my trading journal started to appear signs - well done, instead of stupid.

Nadia, hope you have made some pips too.

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Quoting pips4uandme

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Hope the Dr. gives you a good bill of health....won't your employer start noticing how the cold season strikes around the same time each month?

Hey, Palmer...I don't think your 1 hour bounce entry was against rules...you found a time frame where the rhythm was working and took an early entry, right? Is that against the rules? Are we strictly sticking only to 4 hour entries? Reason I ask is b/c 1 hour almost always plays a part in my entry decision (If MACD 1 hour is moving opposite of 4 hour, I'll wait for a better price or look for rhythm on the shorter tf if missing from the 4 hour -- this also answers a question a few posts back re:MACD signal in conflict to 4 hour direction). Guess the key for people is not to confuse the 1 hour chart and plan trades on the 4 hour while actually trading the 1 hour.

Also, there was a post many pages back (sorry, don't remember who from) indicating the importance of keeping the "big picture" in mind while trading. Wanted to take a min. to agree with that view point! I always note important levels from the daily chart and incorporate those levels into whatever trade plan I'm using (1 min, 5 min, 15 min, 1 hour or 4 hour trades).
Also keep an eye on weekly & monthly levels -- just like Phillip has always advocated we do!

Happy trading everyone! Looking forward to Wed. Thurs. & Friday!

Best,
Pips

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Quoting Ryanmcd

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I see where you are coming from but if I was just starting out on this I would just use the 4hr to keep it simple. All you are really doing anyway on the TC patterns is buying a pullback and you can use 100 things to do this and be okay.

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Quoting BIL2205

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Hello my trading Saviours. Nice to see Ira you made pips on the UJ. Here is my update. I closed all my open positions before going to bed last night. Uj was still within the triangle and i knew i could not sleep with it like that before the news and i could not stay up to wait for break out. So i close it -13 pips. But my update for the week is not so gloomy. so far i am +64 for the week.
Euro oct 29 round top + 18
EJ oct 30th TC +37
Euro Oct 30 TC +6
Euro Oct 30th TC +13

Both euro lots were closed last night as well.

Also +10 on a trade i did on Phillip 5 min on GU.

Oct 30th UJ TC -13
OCt 30th GU TC-7

The trdes i closed in negative would have been positive, if i had let them run .The Uj i closed as stated above, The GU was closed within minutes opening. Because i realize i had other trades open as well and for me it can be distracting as well.So all TC trades except 1 counter with very tight profit target to 8 ema.
So now i dont have any positions open. Will sit on the side through the storm. Lets just say i put my shutters on last night so i could sleep well( i know florida residents would understand that) Thankyou and good luck to you all.
Nadia.

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Quoting BIL2205

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Hello my trading Saviours. Nice to see Ira you made pips on the UJ. Here is my update. I closed all my open positions before going to bed last night. Uj was still within the triangle and i knew i could not sleep with it like that before the news and i could not stay up to wait for break out. So i close it -13 pips. But my update for the week is not so gloomy. so far i am +64 for the week.
Euro oct 29 round top + 18
EJ oct 30th TC +37
Euro Oct 30 TC +6
Euro Oct 30th TC +13

Both euro lots were closed last night as well.

Also +10 on a trade i did on Phillip 5 min on GU.

Oct 30th UJ TC -13
OCt 30th GU TC-7

The trdes i closed in negative would have been positive, if i had let them run .The Uj i closed as stated above, The GU was closed within minutes opening. Because i realize i had other trades open as well and for me it can be distracting as well.So all TC trades except 1 counter with very tight profit target to 8 ema.
So now i dont have any positions open. Will sit on the side through the storm. Lets just say i put my shutters on last night so i could sleep well( i know florida residents would understand that) Thankyou and good luck to you all.
Nadia.

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Quoting Ryanmcd

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Okay most of us have this system down and it works well and you will make money on it that is not the problem. The problem is we need a better way to reduce risk when coming into a trade. If you are going into a trade with 10 lots and scale out at +20 on half and +50 on the other half you are net + 35 on all of them. Now if you used a stop of say 40 points well then you’re R: R is worse then 1:1. What about if you got into the trade with 2 lots and then added 2 per +10 points until you got to 50 then closed out all of the positions? What this gives you is a lower risk when you 1st enter a trade if it does go against you. This is something I am just throwing out there and I have not had the time to go through a better way to do this. Anyone have any ideas?

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Quoting JimTatum

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I think this would give net pip gain avg of 30. That would make r:r worse than example above. Take a look see what you think.

1st 2 lots = 50
2nd 2 lots = 40
3rd 2 lots = 30
4th 2 lots = 20
5th 2 lost = 10
total =150 x 2=300/10 lots= 30 avg

Would stops be the same on all lots 40??

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Quoting sfg7th

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As a newbee I'm learning Phillips 4 hr strategy and subscribed to the threads..I have a problem currently attempting to decipher just what you all are talking about when you use abbreviations (ie, TC,RT,ct etc). I realize it's easier on the typing,but it's not very helpful on my end. You have a great forum with lots of good info, but it leaves some of us wondering how to interpert the language.

regards
SFG7th

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Quoting wernbrenk

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Hi Nadia,

I took that same trade (UJ yesterday) after listening to your advice on Skype and made 23pips. This scenario raises a question I've had a while:

When doing our analysis we decide on the SL, PT etc... After entering the trade, do we now "leave the PC" whether it goes to your TP/SL or not?? Or do we watch it live and cut the losses at -10 pips because you "think" it's going negative and you don't want it to go to -20pips.

Anyone?

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Quoting BIL2205

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Hello there, Glad to see u made pips on the trade. First of all if i may say and Please take it in positive light that, please dont take my analysis as trading advice, i am in no way in any position to give advice, i just put my analysis out there and it is up to everyone to have their own trading plan. Now as far as stop loss and take profit. In an ideal situation it would be best to plan your trade and implement it. BUT i am not there yet in my trading , i am currently on a road to recovery. Now the reason i did close my trades last night was because of NEWS today and the impact it can have on the volatility on the market. That was part of my plan. I have closed my trades early and see them hit the intented profit target. IF your trade is according to the rules with a reasonable profit target in plan then you should let it run. IRA did and she made pips, that was her plan. My plan was to close before sleep so i did that. So it is also about the circumstances of your trade.Is there any news coming, will i have access to my computer. etc etc. If u treat every trade as a single transaction u can have better control on it. You cannot control the market but u can control the trade. Now if UJ was not in a triangle and there was no important news the next morning, i would have let it be.Euro ws not in a triangle but i did not let that run either because i did not want any positions open. I hope i am not confusing you, and please PIPS and PALMER feel free to give your expert opinion on this, your will probably make more sense than my ramblings.Good Luck .
NAdia

Also would like to add that the stop loss that u plan in your trade should be within your risk parameter. if it is more that you can handle then teh trade shuld not have been taken in the first place. But if there is a major even around the corner , then there should be a back up plan.

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