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4 Hour Strategy (MACD)

  • #7,941
  • Nov 2, 2007 3:38am Nov 2, 2007 3:38am
Quoting pips4uandme
Hi Phillip!

Congrats on the pip banking!!! What a great way to end the week....Just wanted to say how glad I am to have you live on NFP Friday!!! May you bank many more pips w/your short term strategies after the release!!

Happy & Profitable Trading

Pips
Thanks
I know this is a risky trade on a Friday with NFP coming out. I just want to be in it(small though) if the MACD move currently is supporting the news that is going to come out. That is why I am watching it live and have my S/R levels drawn to see how it interacts with it. It just show that one can even watch a 4H trade with short term emotions running through the body and satisfying the need for adrinaline pumping. HeHeHe
Hope everybody makes some pips
  • #7,942
  • Nov 2, 2007 3:49am Nov 2, 2007 3:49am
Today , i made the fisrt order using the 4 Hour strategy, would you please tell me where is my profit position. am i right?
Attached Image (click to enlarge)
Click to Enlarge Name: Snap1.gif Size: 27 KB
I need time ,I need money, I need more patience
  • #7,943
  • Nov 2, 2007 4:11am Nov 2, 2007 4:11am
Dear philip:
what is the meaning of the number on the macd bar showen in the picture.
Attached Image
I need time ,I need money, I need more patience
  • #7,944
  • Nov 2, 2007 5:31am Nov 2, 2007 5:31am
Hi mate, the 48 and 30 on the macd are carry over objects from another pair that you have taken the template from.

If you double click on them you will have an option to delete them.

See ya Marty.
  • #7,945
  • Nov 2, 2007 5:39am Nov 2, 2007 5:39am
Quoting martaroony
Hi mate, the 48 and 30 on the macd are carry over objects from another pair that you have taken the template from.

If you double click on them you will have an option to delete them.

See ya Marty.
THank you very much, dou you have the newest version indicator.
I need time ,I need money, I need more patience
  • #7,946
  • Nov 2, 2007 6:47am Nov 2, 2007 6:47am
Quoting pips4uandme
Hi Ryanmcd,

LOL! If you feel up to it, a section under journals would be best. This is an area where many traders keep a running record of their trades, style and mental outlook. Many loyal FF members follow specific threads. Let us know if you decide to start one and what its title will be. Remember too, there is a huge leap in time from building positions from 3 min chart to 4 hour (but you know that already). Lastly, you will develop quite a bit of readers who will really look to model your style if you decide to start a trade journal and your wife will have access too! (LOL!!!!). (hey, it's OK to be wrong as long as you make more pips when you are right than you lose being wrong -- we are only human -- unless you found Alcastro's crystal ball (hehe).

Best,
Pips
LOL, so true, I still have to get better at this long term stuff I think, I went long the EUR and GBP yesterday and short the CHF the AM, I was down BIG TIME whent he dow sold off 360+ but this am I am up. I think I need to get better at hold a day or 2 before I go adding for days / weeks. On the 3min with adds it was maybe 3-5 hours.
Keep taking CT trades, I need more money
  • #7,947
  • Nov 2, 2007 6:50am Nov 2, 2007 6:50am
Quoting ztdep
Today , i made the fisrt order using the 4 Hour strategy, would you please tell me where is my profit position. am i right?

I took that exact same trade. I don't have a profit target in mind but I am going to keep a eye on it. For me I have to stop taking profits too quick but I also will not let this trade go against me.
Keep taking CT trades, I need more money
  • #7,948
  • Nov 2, 2007 6:53am Nov 2, 2007 6:53am
Quoting ztdep
THank you very much, dou you have the newest version indicator.
ztdep, version 104 is only if you want to use it on other pairs other than E/U or G/U. it calculates the horizontal lines differently.

Personally I use version 103 as its coding is more my level and I can play with the coding if I need to.

I dont run with horizontal line levels so it was easier for me to modify 103v.

Hope this helps, Marty
  • #7,949
  • Nov 2, 2007 6:56am Nov 2, 2007 6:56am
Greetings... I've done some research about the result of TC-patterns.
I went back to the turn of the year 2006-2007 and studied the charts.

The trades i found was based ONLY on the MACD, no trendlines, no MA's nothing!

I used 40 pips as criteria if it was a winning trade or a losing trade.

If the price went up 40 pips or more after the MACD gave signal = WIN
If the price went down 40 pips or more after the MACD gave signal = LOSS

I wrote down EVERY TC signal (from 1th january 2007 - 2th november 2007) the MACD gave and i mean EVERY. Even the unclear and lousy ones. The result was amazing!

Here's the result!

GBP/USD:
Won = 77 trades = 3080 pips
Loss = 55 trades = 2200 pips

That gives us 880 pips of 11 months of trading, 80 pips/month.

EUR/USD
Won = 79 trades = 3160 pips
Loss = 60 trades = 2400 pips

That gives us 760 pips of 11 months of trading, 69 pips/month.

This is in low numbers because 40 pips is the LEAST you would have made on a winning trade. But 40 pips IS the biggest loss you would have made on a losing trade. If we also implent trendlines, MA's etc it could be real fun.

So newbies such as myself, stick to the TC patterns and you WILL make money.
  • #7,950
  • Nov 2, 2007 7:12am Nov 2, 2007 7:12am
Quoting ekling
Greetings... I've done some research about the result of TC-patterns.
I went back to the turn of the year 2006-2007 and studied the charts.

The trades i found was based ONLY on the MACD, no trendlines, no MA's nothing!

I used 40 pips as criteria if it was a winning trade or a losing trade.

If the price went up 40 pips or more after the MACD gave signal = WIN
If the price went down 40 pips or more after the MACD gave signal = LOSS

I wrote down EVERY TC signal (from 1th january 2007 - 2th november 2007) the MACD gave and i mean EVERY. Even the unclear and lousy ones. The result was amazing!

Here's the result!

GBP/USD:
Won = 77 trades = 3080 pips
Loss = 55 trades = 2200 pips

That gives us 880 pips of 11 months of trading, 80 pips/month.

EUR/USD
Won = 79 trades = 3160 pips
Loss = 60 trades = 2400 pips

That gives us 760 pips of 11 months of trading, 69 pips/month.

This is in low numbers because 40 pips is the LEAST you would have made on a winning trade. But 40 pips IS the biggest loss you would have made on a losing trade. If we also implent trendlines, MA's etc it could be real fun.

So newbies such as myself, stick to the TC patterns and you WILL make money.

LOL, As I said several pages back and Phillip posted, take the TC patterns and enjoy your pips. Also most trades are good for over 50 pips but that is subjective to the trader. That again is why I am working on holding out longer.
Keep taking CT trades, I need more money
  • #7,951
  • Nov 2, 2007 7:13am Nov 2, 2007 7:13am
Quoting Phillip Nel
Hi
I don't think we must use this thread for those type of trading as it is a different and risky type of approach which can cost a new person coming in his whole account when trying it. The purpose of this thread is to give the newcomer tools to be able to practice live without being wiped out and learning solid basic trading skills and survive to carry one and steady building a healthy account. That is why there is constantly take profit targets and closing of positions. If one has to much at stake and it start losing the emotions fails to close the position and it changes to hope that it will recover and hope is not a strategy.
Feel free to start a new thread and give your inputs there. The more experience traders will follow it I am sure.

Regarding your inputs as to the 4Hour system please carry on as it can be valuable to the people on this thread
Thanks
Phillip
Ryanmcd:

It does seem like there have been a lot of "Hi, I'm new to Forex and..." posts on this thread lately. It could end up as too much information to follow from some of the people that are on the outside looking in right now. I have an interest in your method of adding to positions and if you did start a new thread I think that would be a great idea. It wouldn't necessarily have to be tied to this method because adding to a position is a stand alone method that could go along with any trading system that follows the trend. If you're trading full time you already know about the school of hard knock. I forgot to congratulate you on that one by the way, that's the biggest risk of all. And, I believe Phillip's original and still current intent is to make this method/thread as easy to follow as possible.

Congrats to the folks that took the Tc on the next 4hr bounce off the 21. I'm just a little cautious here, still am. It's been a good week and I want to keep what I've already got. Buckle-up for the employment numbers in about 20 minutes....
  • #7,952
  • Nov 2, 2007 7:19am Nov 2, 2007 7:19am
Hi Palmer!

Yipeeeeee (notice the emphasis on the last part) It's NFP Friday!!!! (hehe...I'm so excited! Yup, I'm a weirdo!!)....Time to turn on the TV and study the charts/price feed!!!

Happy day alll!!! Remember to wait and only trade a short term system after the release if you have tested it -- otherwise stay out!! (not you Palmer, I know you've tested short term trading!! Where's my parachute???? hmmmm...better go look for it...always did like the feeling of jumping from a plane...that's NFP friday!!!! yippppeeeeeeeeeeee!!!)

  • #7,953
  • Nov 2, 2007 7:43am Nov 2, 2007 7:43am
Thanks Phillip

Out of EuR long +60
Out of GBP long +12
Out of CHF short + 85 on the rest.

All of the 4hr MACD TC trades
Keep taking CT trades, I need more money
  • #7,954
  • Nov 2, 2007 7:57am Nov 2, 2007 7:57am
I got in on the TC USD/CAD...
Forgot about the report on CAD employment change, fortunate it was WELL over expectations. Then the nonfarm also went my way. +120 pips, but could have gone the other way... phew
  • #7,955
  • Nov 2, 2007 8:09am Nov 2, 2007 8:09am
Quoting pips4uandme
Hi Palmer!

Yipeeeeee (notice the emphasis on the last part) It's NFP Friday!!!! (hehe...I'm so excited! Yup, I'm a weirdo!!)....Time to turn on the TV and study the charts/price feed!!!

Happy day alll!!! Remember to wait and only trade a short term system after the release if you have tested it -- otherwise stay out!! (not you Palmer, I know you've tested short term trading!! Where's my parachute???? hmmmm...better go look for it...always did like the feeling of jumping from a plane...that's NFP friday!!!! yippppeeeeeeeeeeee!!!)

Yes, I took the jump NFP Airlines and came in for a safe landing...after takeoff that is! Don't worry I'm a weirdo also...I take life seriously...but only when I need to...Drinks on you aye!
  • #7,956
  • Nov 2, 2007 8:22am Nov 2, 2007 8:22am
Quoting Palmer
Yes, I took the jump NFP Airlines and came in for a safe landing...after takeoff that is! Don't worry I'm a weirdo also...I take life seriously...but only when I need to...Drinks on you aye!
Good Philosophy...Life is too short for us to fret!! Yup, Drinks on me today (NFP scalps have been nice to me...but I do not endorse this type of behaviour!!)

Hmmm...it's only 6:15 AM here...but I'm firing up the BBQ for trader happy hour!! : Happy weekend all!! The beer and wine are on ice waiting for you all (sorry Palmer, I don't have any J.W. in the house...).
  • #7,957
  • Nov 2, 2007 8:24am Nov 2, 2007 8:24am
Quoting ekling
I got in on the TC USD/CAD...
Forgot about the report on CAD employment change, fortunate it was WELL over expectations. Then the nonfarm also went my way. +120 pips, but could have gone the other way... phew
Hi Ekling,

Wanted to say nice job looking back at the TC trades! Keep up the good work & happy weekend!

Best,
Pips
  • #7,958
  • Nov 2, 2007 8:30am Nov 2, 2007 8:30am
Quoting Palmer
Yes, I took the jump NFP Airlines and came in for a safe landing...after takeoff that is! Don't worry I'm a weirdo also...I take life seriously...but only when I need to...Drinks on you aye!
No wonder i feel so much at home here with my newly found weird friends and family!! Happy weekend All!!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #7,959
  • Nov 2, 2007 8:31am Nov 2, 2007 8:31am
Hey pips, I'll bring my won J.W., not a problem. I like my steak med-rare please.

Looks like the EUR and $Yen are trying to settle out, long candles because of the news....
  • #7,960
  • Nov 2, 2007 8:50am Nov 2, 2007 8:50am
Quoting Phillip Nel
It is just because of working schedule and limited internet access during working hours.

These were the amount of deals for 2006 per time (GMT+2)
01:00---25
05:00---34
09:00---17
13:00---46
17:00---52
21:00---29
Dear philip: In your previous thread, you have said 16:00,20:00,and 0:00, i think it is confilict with the time in this tread.
I need time ,I need money, I need more patience
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