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4 Hour Strategy (MACD)

  • #8,021
  • Nov 4, 2007 5:43pm Nov 4, 2007 5:43pm
Quoting janson
Hi Philip,

thanks for another great mp3. I have a question about one setup at the PDF. One bar after signal number one we got a TC to the downside. Doesn't this fit to the rules also? The price went down under the 21EMA again, retraced back to it and gave the signal. For me a good chance that the previous downtrend may continoue. How do you see it? Thanks.

Regards
Janson

there is a lot of discretion in this system, sometime the TC are taken, sometime are ignored depending on discretion, so as long as there is discretion we can't say this is a system, the descrition usually is an inner feeling not to go against the daily and weekly trend of the EUR which have been up for almost 2 years now but people try to put some reasons like trandlines which by themselves are discretionary and other staff like round numbers to give reasons for their discretion which as I said is mainly an inner feeling, once the new EUR downward trend starts you will see a lot of these discretions fail
another thing is that all these trades in the thread are in hindsight, nothing in realtime although we are trading a 4H system, I mean isn't it easy to post one line here just 5 minutes after u take a trade saying "buy EURO TP nnn ST mmm" and we will fugure u bought euro at the open of the current bar and these are the target profits/stop loss, forget about chat rooms just if someone takes a trade post this one line of 10 characters and later we can put the chart of that trade and why it was taken and how it evolved, but instead you will see many many hindsight charts here, hindsight works even with a simple moving average cross system
  • #8,022
  • Nov 4, 2007 6:10pm Nov 4, 2007 6:10pm
Quoting ziko123
there is a lot of discretion in this system,
yes there is a lot of discretion in this system. It's in part its strength because we can adapt and listen to the market as opposed to being stuck in times of bad performance such as with most other systems.

once the new EUR downward trend starts you will see a lot of these discretions fail
this is far from the truth ziko. We take a top down approach and monitor the daily and weekly charts every day. If there is a trend break and the EUR begins to consolidate we will know; if it begins a downtrend we will know. That part of the system is very simple and basic.
IMHO
"The market pays you to be disciplined"
  • #8,023
  • Nov 4, 2007 6:23pm Nov 4, 2007 6:23pm
Quoting janson
Hi Philip,

thanks for another great mp3. I have a question about one setup at the PDF. One bar after signal number one we got a TC to the downside. Doesn't this fit to the rules also? The price went down under the 21EMA again, retraced back to it and gave the signal. For me a good chance that the previous downtrend may continoue. How do you see it? Thanks.

Regards
Janson
Very good question janson. If you'll notice the very next bar where you would have entered for the TC down : Although price ended up closing up that bar, price immediately went all the way down to the bottom of the channel, where it would have been wise to take profits for some pips. Things are rarely perfect, and from my experience BEWARE when they seem to be!
Good luck to you!
"The market pays you to be disciplined"
  • #8,024
  • Nov 4, 2007 7:15pm Nov 4, 2007 7:15pm
Is any one having trouble getting there metatrader charts going?????
  • #8,025
  • Nov 4, 2007 7:39pm Nov 4, 2007 7:39pm
so macd is turning red on EUR, if EUR goes down tomorrow then you will see people on this thread come saying they took this VT signal and they made X number of pips, this will be of course in hindsight and not realtime
  • #8,026
  • Nov 4, 2007 7:45pm Nov 4, 2007 7:45pm
Quoting ziko123
so macd is turning red on EUR, if EUR goes down tomorrow then you will see people on this thread come saying they took this VT signal and they made X number of pips, this will be of course in hindsight and not realtime
Everybody, please just ignore this guy, do not dilute this thread with BS.
  • #8,027
  • Nov 4, 2007 7:46pm Nov 4, 2007 7:46pm
Quoting JimTatum
Is any one having trouble getting there metatrader charts going?????
No problem at all.
  • #8,028
  • Nov 4, 2007 7:55pm Nov 4, 2007 7:55pm
Quoting ziko123
so macd is turning red on EUR, if EUR goes down tomorrow then you will see people on this thread come saying they took this VT signal and they made X number of pips, this will be of course in hindsight and not realtime
Hello ziko123, just one advise. If you feel that this system is not well suited for you, please feel free to leave it and find one who is best for you.

Your comments on this thread are not helpful at all and you are just having a negative attitude that do not help anybody.

We are all very grateful to Phillip for this method and we do want to continue to share our views positively.

Please do keep this attitude in mind, if so, you are most welcome to stay with us and share with us your thinking about the method.

Sincerely

Shreem
  • #8,029
  • Nov 4, 2007 7:58pm Nov 4, 2007 7:58pm
Quoting shreem
Hello ziko123, just one advise. If you feel that this system is not well suited for you, please feel free to leave it and find one who is best for you.

Your comments on this thread are not helpful at all and you are just having a negative attitude that do not help anybody.

We are all very grateful to Phillip for this method and we do want to continue to share our views positively.

Please do keep this attitude in mind, if so, you are most welcome to stay with us and share with us your thinking about the method.

Sincerely

Shreem

I'm also grateful to him and all others but I see no value of posting charts hours after they happened although this is not a 5min trading but a 4H trading, either post in realtime or not at all, this is not to spoon feed people but just to proof that this system works for people who claim it does, let one on them post trades for just 1 month and we will see if it realy works instead of just making hindsight claims
  • #8,030
  • Edited 8:10pm Nov 4, 2007 8:06pm | Edited 8:10pm
Quoting ziko123
I'm also grateful to him and all others but I see no value of posting charts hours after they happened although this is not a 5min trading but a 4H trading, either post in realtime or not at all
Hello Ziko123, I do understand your point of view about hindsight charts. However, I do not agree with you about posting hindsight charts. The first purpose of this method by Phillip is not to give real time signals to place trades but to learn how this system works. Posting hindsights charts is a very good way to reinforce our knowledge about high probability setups. How they look like, what kind of pattern MACD form around them, how is the price in relation to the moving averages or trendlines, ect...

So, as this is not a thread dedicated to giving live calls but learning a method, I do not see any problem with posting these charts, all the contrary.

However, I do respect your opnion. Just wanted to give mine.

P.S. To really know if a system works or not, you have to test it yourself and see if it fit your style or not. Waiting to see if it works for others is not going to help you at all as you will not get a true feel for it. Just my humble opnion.

Sincerely

Shreem
  • #8,031
  • Nov 4, 2007 8:06pm Nov 4, 2007 8:06pm
Wow, thank you Phillip, very helpful for me (range bound trading files).

And I am not having problems with MT4, I go through MIG Investments, sorry JimTatum.
  • #8,032
  • Nov 4, 2007 8:08pm Nov 4, 2007 8:08pm
Quoting ziko123
I'm also grateful to him and all others but I see no value of posting charts hours after they happened although this is not a 5min trading but a 4H trading, either post in realtime or not at all, this is not to spoon feed people but just to proof that this system works for people who claim it does, let one on them post trades for just 1 month and we will see if it realy works instead of just making hindsight claims
There is a difference between healthy scepticism and being a moron.
  • #8,033
  • Nov 4, 2007 8:12pm Nov 4, 2007 8:12pm
Quoting ziko123
I'm also grateful to him and all others but I see no value of posting charts hours after they happened although this is not a 5min trading but a 4H trading, either post in realtime or not at all, this is not to spoon feed people but just to proof that this system works for people who claim it does, let one on them post trades for just 1 month and we will see if it realy works instead of just making hindsight claims
Both Phillip and Palmer have posted in realtime (Almost all of Phillip's last month were posted). I use to (but refuse to be responsible for your trade actions). Others who are looking to hone their skills also post in real time and ask for feedback. None of us want to be signal providers, but instead want to teach what to look for and help you be the best trader you can be.

With this said, sometimes a short signal is given after you enter a long trade....why would you scrap your original plan and follow blindly by the MACD. That is the key....A PLAN! The MACD only confirms your entry.

Lastly, I don't really care if you need to see if this method works for me...Because I KNOW it works for me. My account grows each month, and my reasons for entry are sound. The only way you will KNOW if it works for you is by demoing it yourself.

Why bash people who are looking at successful setups to see what they look like (even if it is in hindsight)? Why bash people who are trying to learn basic trading skills? Why bash people who give their time freely to teach others? I don't get it...If you don't like it -- don't read the thread (and have you seen how much info is on this thread teaching you how to trade from a technical perspective? Do you realize you would pay thousands of dollars to someone for this (mentor or books add up). (& by your signup date on FF you've been trading long enough to realize basic descretionary skills are essential to a manual trader...this isn't an EA..this isn't a blackbox system...
  • #8,034
  • Edited 8:33pm Nov 4, 2007 8:17pm | Edited 8:33pm
Quoting pips4uandme
Both Phillip and Palmer have posted in realtime (Almost all of Phillip's last month were posted). I use to (but refuse to be responsible for your trade actions). Others who are looking to hone their skills also post in real time and ask for feedback. None of us want to be signal providers, but instead want to teach what to look for and help you be the best trader you can be.

With this said, sometimes a short signal is given after you enter a long trade....why would you scrap your original plan and follow blindly by the MACD. That is the key....A PLAN! The MACD only confirms your entry.

Lastly, I don't really care if you need to see if this method works for me...Because I KNOW it works for me. My account grows each month, and my reasons for entry are sound. The only way you will KNOW if it works for you is by demoing it yourself.

Why bash people who are looking at successful setups to see what they look like? Why bash people who are trying to learn basic trading skills? Why bash people who give their time freely to teach others? I don't get it...If you don't like it -- don't read the thread (and have you seen how much info is on this thread teaching you how to trade from a technical perspective? Do you realize you would pay thousands of dollars to someone for this (mentor or books add up).
Hello Dear Pips4uandme, great comment that you just made as usual. Cannot agree more with you

Sincerely

Shreem
  • #8,035
  • Nov 4, 2007 8:18pm Nov 4, 2007 8:18pm
Quoting shreem
Hello Dear Pips4umandme, great comment that you just made as usual. Cannot agree more with you

Sincerely

Shreem
As I couldn't agree w/yours (you beat me to it!!)!

Pips
  • #8,036
  • Nov 4, 2007 8:45pm Nov 4, 2007 8:45pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Once in a while we will experience such negative attitude, but its none of our business, because we know it works!! IGNORE IGNORE IGNORE!!! Period!!
  • #8,037
  • Nov 4, 2007 8:48pm Nov 4, 2007 8:48pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Guys, the euro rhythm has slightly slowed down to the 21ema and also tried to cross it but failed. So we must be cautious to take the next TC signal because the next time round, it might crossed the 21ema. Let's all wait and see how the signal develops.. Anyway, this is not hindsight right? I'm speaking live from what I see from my charts!!!
  • #8,038
  • Nov 4, 2007 9:22pm Nov 4, 2007 9:22pm
Quoting shauny
Guys, the euro rhythm has slightly slowed down to the 21ema and also tried to cross it but failed. So we must be cautious to take the next TC signal because the next time round, it might crossed the 21ema. Let's all wait and see how the signal develops.. Anyway, this is not hindsight right? I'm speaking live from what I see from my charts!!!

Do you mean the 8 ema??? My charts do not show 21 hit for seveal candles. Just want to make sure my charts are set up properly.
Thanks
  • #8,039
  • Nov 4, 2007 9:48pm Nov 4, 2007 9:48pm
Hi Jim i think what Shauny means is that the speed of the market on Euro has switched gears from 8 ema - which is considered fast to 21 Ema. which is still fast. But basically slower than the 8. So the Uptrend MIGHT be losing steam. combined with Divergence on the MACD 4 HOUR.---price going up on charts but macd making lower highs. He is talking about the over all picture not the curent position of EUro. ---Please correct me shauny if i misinterpret your post. Good Luck,
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,040
  • Nov 4, 2007 10:08pm Nov 4, 2007 10:08pm
Quoting BIL2205
Hi Jim i think what Shauny means is that the speed of the market on Euro has switched gears from 8 ema - which is considered fast to 21 Ema. which is still fast. But basically slower than the 8. So the Uptrend MIGHT be losing steam. combined with Divergence on the MACD 4 HOUR.---price going up on charts but macd making lower highs. He is talking about the over all picture not the curent position of EUro. ---Please correct me shauny if i misinterpret your post. Good Luck,
Nadia
Yes I see what you are saying. But could macd also be setting up for tc pattern and a bounce off the 8? And if so how do we read that? I gues my thoughts would be we wait for tc to confirm up with room on the candle for a safe up move. Would that be proper interpataion???

Thanks
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