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4 Hour Strategy (MACD)

  • #8,121
  • Nov 6, 2007 6:49am Nov 6, 2007 6:49am
Quoting JimTatum
Hi Ryan,

What were the reasons for the long eur trade? So I can learn from your thoughts???

Thanks

Sure, It was because of the bounce off the 21MA on both of them as well as taking a TC pattern. Remember what I said that you will only be wrong 2 times, at the top and bottom, guess this was not the top. Woke up with +70, +72 and +65. Closed out the USDCHF trade I opened yesterday fully with +72, closed some on the EUR but letting the rest ride.
Keep taking CT trades, I need more money
  • #8,122
  • Nov 6, 2007 7:23am Nov 6, 2007 7:23am
Quoting Mister ED
Please could you add me to the 4 hour skype chat

Skype name= eamon.draper

Thanks,

Mister ED
Is there a live chat in skype for the 4 hours system? I have read threw the post but never noticed it.

Anyways, Hello guys. I ran across this Thread about a month ago, and havn't stoped learning about it sense then. I took my first live trade on gbpusd last night, ended up with +33 pips. I have been learning and demo/live trading for almost a year now, and this forum is has been the best thing I have came across. Phil Thanks for teaching us and puting your time and effort in it, and the others that are now helping the 'newbies' out
  • #8,123
  • Nov 6, 2007 7:43am Nov 6, 2007 7:43am
Quoting Ryanmcd
USDCHF Out + 72 @ 1.1451
USDEUR Out of a few @ +70

Putting the EUR and GBP @ Cost.
Hi, Ryan! I took EU long right when you did it at 1.4473 and woke up with 53 pips, it was a perfect TC.
  • #8,124
  • Nov 6, 2007 7:58am Nov 6, 2007 7:58am
Quoting alexfot
Hi, Ryan! I took EU long right when you did it at 1.4473 and woke up with 53 pips, it was a perfect TC.

Yep, nice trade. I am still long prob close in a few hours.
Keep taking CT trades, I need more money
  • #8,125
  • Nov 6, 2007 8:01am Nov 6, 2007 8:01am
Out of rest of EURUSD +80
Out of all of GBPUSD + 71

Over 300 pips so far this month and done for the month. Thanks for this great system Phillip now I don't have to do the 3min thing anymore
Keep taking CT trades, I need more money
  • #8,126
  • Nov 6, 2007 8:11am Nov 6, 2007 8:11am
Quoting Ryanmcd
Out of rest of EURUSD +80
Out of all of GBPUSD + 71

Over 300 pips so far this month and done for the month. Thanks for this great system Phillip now I don't have to do the 3min thing anymore
Hi Ryan

Are you trading all the setups or do you just trade certain candles ie do you get up in the night to trade.

Mister ED
  • #8,127
  • Nov 6, 2007 8:28am Nov 6, 2007 8:28am
Quoting Ryanmcd
Sure, It was because of the bounce off the 21MA on both of them as well as taking a TC pattern. Remember what I said that you will only be wrong 2 times, at the top and bottom, guess this was not the top. Woke up with +70, +72 and +65. Closed out the USDCHF trade I opened yesterday fully with +72, closed some on the EUR but letting the rest ride.
Thanks for the help. I have a question. Do my charts look the same as yours I was not able to see a tc until 1.4497. How did you determint to get in earlier. Did you enter before 4hr bar closed? And if so why. Your thoughts on trade really help. I will attach my trade for critique.

reasons for entry bounce off 21. Then waited for 4hr macd to form tc pattern once tc pattern entered at
1.4499
tp set to below recent hight of 1.4520 at 1.4517
sl 1.4460

I know some stayed in to go above recent high. How do you determine what your targets are to stay in longer with no moving averages above??

Thanks for comments
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 57 KB
  • #8,128
  • Nov 6, 2007 8:30am Nov 6, 2007 8:30am
Quoting Mister ED
Hi Ryan

Are you trading all the setups or do you just trade certain candles ie do you get up in the night to trade.

Mister ED

Trading all the ones I feel are good, about 90% are good I did not take the JPN short though and that one did not work out. I guess it's because I have been doing this for years and that helps me pick out my trades. I don't do any of the trendlines, Fib #'s, 3 dolls, or any of that stuff. I keep it easy and just trade it as I see it. I used to use all that crap and all it did was get in the way. Learn the price movement and how the market moves, that's all you need really. All this other stuff will just slow your trading down and make you start to seconds guess youself. If you are a good trader and really understand how this works you can trade any setup and make money. So far this setup that Phillip posted is one of the top 3 I have traded and the top one I have done as far as long term. I have only been doing longer term charts now for a few months so I am still a noob
Keep taking CT trades, I need more money
  • #8,129
  • Nov 6, 2007 8:31am Nov 6, 2007 8:31am
Quoting ashes
6 nov 07 14:20gmt

short on usd/jpy

pro: 4h:TC almost BOZ macd pattern, 21 ema resistance holding. Also drop off 21
1h: 200sma resistance holding for a long time, since 2 nov 07 price closed below 21ema and continues down

con: could have been an early entry since I have been waiting for the 4h macd BOZ setup.

Short: 114,42

Sl 114,76 (above 200sma 1h chart) -34

Tp: 114,06 (last low) + 36

R:R 34:36 1,05



I apprechiate comments and corrections




Greetings

This trade should work out, it may take some time though I am guessing 1-2 days just like the CHF did.
Keep taking CT trades, I need more money
  • #8,130
  • Nov 6, 2007 8:35am Nov 6, 2007 8:35am
Quoting JimTatum
Thanks for the help. I have a question. Do my charts look the same as yours I was not able to see a tc until 1.4497. How did you determint to get in earlier. Did you enter before 4hr bar closed? And if so why. Your thoughts on trade really help. I will attach my trade for critique.

reasons for entry bounce off 21. Then waited for 4hr macd to form tc pattern once tc pattern entered at
1.4499
tp set to below recent hight of 1.4520 at 1.4517
sl 1.4460

I know some stayed in to go above recent high. How do you determine what your targets are to stay in longer with no moving averages above??

Thanks for comments
Here is my chart. Also as far as when to get out, I had a feeling it was going to take out the high. Lots of people think too hard about this stuff but lets remember that the market is going to choose the path of LEAST resistance and up was that.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 121 KB
Keep taking CT trades, I need more money
  • #8,131
  • Edited 3:20pm Nov 6, 2007 8:49am | Edited 3:20pm
6 nov 07 14:20gmt

short on usd/jpy

pro: 4h:TC almost BOZ macd pattern, 21 ema resistance holding. Also drop off 21
1h: 200sma resistance holding for a long time, since 2 nov 07 price closed below 21ema and continues down

con: could have been an early entry since I have been waiting for the 4h macd BOZ setup.

Short: 114,42

Sl 114,76 (above 89sma 1h chart) -34

Tp: 114,06 (last low) + 36

R:R 34:36 1,05



I apprechiate comments and corrections


I just deleted this post because I started doubting wheter it was well thought through.
I was just listening to Phillips 1h Strategy mp3 where he says
"the 1h is just there to get you into the trade a little bit earlier. But remember you only take entries
in the direction of the 89 and the 21 moving averages on the 1h."
I did not find any trendcontinuation pattern on the 1h. I was talking about resistance of 200 etc to
justify the early entry. In fact, the ma's are all more or less flat. So it's more a gamble trade that I've started, since I did not wait for the 4h candle to close.

So I felt that I have started this trade without having done my homework.


15:54

+ 11 pips

sl: +/-0


16:05

sl triggered


total +/- 0 pips

Greetings
  • #8,132
  • Nov 6, 2007 9:23am Nov 6, 2007 9:23am
Quoting Ryanmcd
This trade should work out, it may take some time though I am guessing 1-2 days just like the CHF did.
Thank you for your comment on this one, Ryan. I hope you're right, because I'm live on this one. I don't think I have analyzed the trade too well, because I just jumped on the macd tc as soon as it has appeared, without waiting for the candle to close. before candle close the macd bar turned green again. the next one is red now, however, there are 3 1/2 h left for it to close.

Greetings
  • #8,133
  • Nov 6, 2007 9:32am Nov 6, 2007 9:32am
Quoting ziko123
I hope I didn't offend anyone, or I just asked for is that any claims of monthly profits be supported by live calls here for just one month, at the end of that month we will see if these claims are right or wrong based on facts and not trust, but no one will dare to do this, this is a 4H system so we are talking about 8-10 trades a month, let one of those who claims this system makes 300+ /month post these 8-10 trades live, just one, but again I'll get the same replies that they don't have to proof anything to others, don't have to spoon feed and ......, but why make claims from the begining if you can't proof it
WHY CAN'T YOU JUST SHUT UP AND DO SOME TESTING YOURSELF...irony of your own statement...dont have to spoon feed,...what you're asking is a taking spoon and telling you how good it tastes like before you gobble it down.

Pure waste of bandwidth
  • #8,134
  • Nov 6, 2007 9:33am Nov 6, 2007 9:33am
Quoting ziko123
man why a chat room , they are just 10 trades/month, each trade can be posted on one line message here, we are speaking about 10 lines/month, if you have access to chatroom then u have access here, just after the trades are called on the chatroom by 5 or even 10 minutes post this one line here and at the end of the month we will see the end result, here we have s timestamp for each message so we can confirm live trades, chatrooms don't have that
I'm really surprise that people are responding so well to you...you're probably enjoying it as well aren't you
  • #8,135
  • Nov 6, 2007 9:50am Nov 6, 2007 9:50am
Hi Ashes,
Just to let you know that you are not alone - I'm also short. You may have got in a bit early but there is resistance at the 89, the market rhythm is bearish so you are at least in the right direction.

Regards
InForTheHaul
  • #8,136
  • Nov 6, 2007 9:56am Nov 6, 2007 9:56am
Hi Phillip, Your system is great, and to prove that I just attended a webinar on FXstreet .com presented by Dan Blystone where he disccused and refered to your system.

Good work


Thanks

Nic Vos
  • #8,137
  • Nov 6, 2007 9:57am Nov 6, 2007 9:57am
Quoting InForTheHaul
Hi Ashes,
Just to let you know that you are not alone - I'm also short. You may have got in a bit early but there is resistance at the 89, the market rhythm is bearish so you are at least in the right direction.

Regards
InForTheHaul
Hi InForTheHaul,

good to know that I'm not alone
I've just moved the sl to +/-0 ... let's see if it goes down some more.

Greetings
  • #8,138
  • Nov 6, 2007 10:13am Nov 6, 2007 10:13am
Quoting Ryanmcd
Here is my chart. Also as far as when to get out, I had a feeling it was going to take out the high. Lots of people think too hard about this stuff but lets remember that the market is going to choose the path of LEAST resistance and up was that.
Hey thanks, That makes sence. Look at my chart the macd does not form aggressive top like yours, mine is more of a round top. Do i have settings wrong? I used the settings off the blog.

jim
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 57 KB
  • #8,139
  • Nov 6, 2007 10:17am Nov 6, 2007 10:17am
wow!

Quoting nicvos
Hi Phillip, Your system is great, and to prove that I just attended a webinar on FXstreet .com presented by Dan Blystone where he disccused and refered to your system.

Good work


Thanks

Nic Vos
  • #8,140
  • Nov 6, 2007 10:18am Nov 6, 2007 10:18am
Quoting JimTatum
Hey thanks, That makes sence. Look at my chart the macd does not form aggressive top like yours, mine is more of a round top. Do i have settings wrong? I used the settings off the blog.

jim

I have 5-13-1 as well, maybe the charts just draw different due to closing times.
Keep taking CT trades, I need more money
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