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4 Hour Strategy (MACD)

  • #8,241
  • Nov 7, 2007 3:18pm Nov 7, 2007 3:18pm
Quoting AlbyM
Hi ti all.

What does they think ?? fore short E\U
This one just worked out for me and some other guys on skype.
  • #8,242
  • Nov 7, 2007 3:20pm Nov 7, 2007 3:20pm
Quoting Ryanmcd
Nice job, just too big of a stop for me, not risking my month's gains.
You have reason. I am new of the system I was inpaziente to try.
  • #8,243
  • Nov 7, 2007 4:05pm Nov 7, 2007 4:05pm
  •  shauny
  • | Joined Jul 2007 | Status: Still learning and never gonna stop | 127 Posts
Those on skype took it and that includes me.. Currently few of us are on BE letting it ride.. I think many took this CT.. Let's hope for more pips!!
  • #8,244
  • Nov 7, 2007 4:17pm Nov 7, 2007 4:17pm
Quoting Ryanmcd
Nice job, just too big of a stop for me, not risking my month's gains.
Right there with you. But to reduce risk.....

For the new faces, in the event that a signal is developing such as a Rt or Rb, and it's one of those long candles that we tend to stay away from because of the stop loss that would be needed, there's always the limit order. I've done this many times. If the candle that gave the signal plus the previous high is say, 40 or 50 pips away, using a limit order that is 20 pips away can reduce that risk. Yes, the order may never get hit, and yes if it does the market can just be returning to the previous direction and this could turn into a loss, but once you get the feel for the 4hr and see the motion of the market, the price patterns become more recognizable around those Rt's and Rb's. You will also 'see' when not to try to enter with a limit order and just pass on the signal entirely. To reduce risk even more you can always enter with a lower leverage lot(s) per entry.
  • #8,245
  • Nov 7, 2007 4:33pm Nov 7, 2007 4:33pm
Quoting Palmer
Right there with you. But to reduce risk.....

For the new faces, in the event that a signal is developing such as a Rt or Rb, and it's one of those long candles that we tend to stay away from because of the stop loss that would be needed, there's always the limit order. I've done this many times. If the candle that gave the signal plus the previous high is say, 40 or 50 pips away, using a limit order that is 20 pips away can reduce that risk. Yes, the order may never get hit, and yes if it does the market can just be returning to the previous direction and this could turn into a loss, but once you get the feel for the 4hr and see the motion of the market, the price patterns become more recognizable around those Rt's and Rb's. You will also 'see' when not to try to enter with a limit order and just pass on the signal entirely. To reduce risk even more you can always enter with a lower leverage lot(s) per entry.
True but risking 60-70 for 40ish, I will always pass no matter how good it is. I think I have lost 1 trade in 2 months so far so I am doing something right. Most of my trades I risk 30-50 and look for 60-100 to keep the R:R's in check. Also there is a trade almost everyday if you watch several pairs so I take the TC's with low risk in trend off the 21MA's. Yes I was about to get short here but it's all about risk management. Also doing the limit order is okay but I am just looking for the BEST trades I can find and that was not one of them, TC's off the 21MA and having a good eye win about 85-90%. CT trades are prob about 75% and most are short lived due to the trend is still in play. It's all about what you want, could I make 1000 a month, prob but I play pretty heavy so I don't have to trade that hard anymore I hope in 6 months to shoot for 100-150 a month with 1-2 trades and then do whatever the rest of the time.
Keep taking CT trades, I need more money
  • #8,246
  • Nov 7, 2007 4:53pm Nov 7, 2007 4:53pm
took the CT signal on USDCAD, currently +250 pips
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  • #8,247
  • Nov 7, 2007 5:01pm Nov 7, 2007 5:01pm
Quoting mike_dg
took the CT signal on USDCAD, currently +250 pips

Did I miss the post where you got into this trade?
Keep taking CT trades, I need more money
  • #8,248
  • Nov 7, 2007 5:12pm Nov 7, 2007 5:12pm
i've just made same crazy pips in about 20 minutes!!!
to bad i'm only demotrading...

what do you think guys?
Attached Image
  • #8,249
  • Nov 7, 2007 5:14pm Nov 7, 2007 5:14pm
Hmmmm, the point is not to risk 60 to 70 for 40....It's just a matter of reducing the initial risk on the signal...
  • #8,250
  • Nov 7, 2007 6:04pm Nov 7, 2007 6:04pm
Quoting danielp
i've just made same crazy pips in about 20 minutes!!!
to bad i'm only demotrading...

what do you think guys?
If you hang out on this thread long enough, the chances are really good that you'll see those results again with real $$$$.
  • #8,251
  • Nov 7, 2007 6:09pm Nov 7, 2007 6:09pm
Quoting ashes
Hi,

I use ATR(14)+20% to set my SL if I don't have trendlines or MA's for orientation.
I actually have backtested the last three months with pure MACD continuation patterns and a ATR based TP and SL, R:R always 1:1.
The result is roundabout 100 pips per month. Adding the market rhythm rules a lot more pips/month are possible, as we know.

Greetings
Hi ashes,

This is the kind of thing I'm getting at. I was considering using 1xATR30, so around 40 pips on the euro. The idea would be to take of 1/2 when the initial risk is met, then just go to break even. I was thinking with any luck 40 pips may be just enough to get into the daily trend and then watch the dollar go down the pan.This way we have a chance of getting in on the big moves but can maintain a good winning percentage (hopefully).

Secondly using ATR makes all markets equal. All we need to do is trade smaller on the volatile instruments. I know that trading on multiple pairs is not some folks style, I can appreciate their argument completely, but I think looking a a few dollar denominated pairs at least is beneficial (although don't hold me to that) as well as maybe gold and oil.

Also I was thinking that a set stop like this eliminates some of the discretion from trading, which I think can be a double edged sword. I am of the opinion that the high level of discretion, which people on this thread display, is its' greatest strength, but also has drawbacks. For a newbie (damn I hate that word) like me a more rigid exit strategy could be beneficial. That way I just need to pick the entry points and there are less "inflight adjustments" to make.

Opinions invited....
  • #8,252
  • Nov 7, 2007 6:11pm Nov 7, 2007 6:11pm
Just wanted to show what the pair has run into on the weekly chart. Will be interesting to see how/if it reacts.

http://i5.tinypic.com/6ut4g83.jpg
"The market pays you to be disciplined"
  • #8,253
  • Nov 7, 2007 6:19pm Nov 7, 2007 6:19pm
Quoting OldDog
For those who have difficulty understanding spoken English. Go to post 8224 for the chart.

I would like to let everyone know that Ashes has joined our group of copiers and has already copied three mp3's. Thanks Ashes!
hey guys, just wanted to say that this week i can actually see how our effort to make copies can be helpful even for people who can understand spoken english.Since I am busy this week so at night i just print out the daily wrap up with charts or any other mp3 by Phillip and take it with me the next day and go over them during the course of the day, This way i can keep myself updated as to what is happening and not be behind by end of week. So Thanks again, I will join you guys again next week, Keep Pipping.
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,254
  • Nov 7, 2007 6:44pm Nov 7, 2007 6:44pm
Quoting Phillip Nel
Info
I was going back through the thread for the download files for the week and must have missed this one in the daily routine...

A 'must listen' about Patience: Post #8065
  • #8,255
  • Nov 8, 2007 2:15am Nov 8, 2007 2:15am
  •  iPip
  • | Joined Nov 2007 | Status: Listen to the rhythm of the market | 5 Posts
Quoting pips4uandme
Keep studying and you will have an "A-HA" moment. It will click together eventually

Hope this helped clarify a bit more. Re-read the posts by Shauny and Palmer too...They were exceptional!

Happy days to you,
Pips
Hi Pips4uandMe
AAAAAAAAAAHHHHHHHHHHH..... the last AAAAAAAAA may be falling into place. It's amazing how a sentance can change your view - the description of changing lanes did it for me. With that I went back to Palmer's and Shauny's posts and those too now make sense - thanks guys and gals.

Must say that for me it's been great to get a question answered by different traders because if you don't quite get it, you'll get it on those answers posted that follow because of how someone else sees it and describes it. So thanks for the patience and the posts to my question.

Your comment that the changing lanes comes from one of Phillip's previous posts:
1. Like I said, I am up-to-date since about page 400 and only upto 149 from the beginning - so not sure if I missed it or must still get to it. Have to interrupt the studying by going to work!
2. That sound's just like Phillip's down-to-earth, no BS, simple, easy to understand language, for which we must salute Phillip for - how brilliant was the hubby-dubby mp3 !!!!!!!!
3. If I could trade this thread, just buy - it's in a bull trend, to think that since my question 3 days ago, 13 pages have been added covering nearly 150 posts - that's speed!

Enough said.
I don't keep the lolipops to dish out so instead, listen to my praise-singing jingle below which is currently playing on my iPip.

iPipUpipWeAllpipForiPip
iPipUpipWeAllpipForShauny
iPipUpipWeAllpipForPalmer
iPipUpipWeAllpipForPips4uandMe
iPipUpipWeAllpipForPhillip
  • #8,256
  • Nov 8, 2007 4:50am Nov 8, 2007 4:50am
Thanks Philip nell, you not are teaching a systematic method of trading, but in this 3d you are teaching TO MAKE TRADING. Thanks a lot, nobody is disposed to explain as you make. Nobody you are disposed to give experience.
Thanks still!! You are mitic ..

HI TO ALL . . .
  • #8,257
  • Nov 8, 2007 6:27am Nov 8, 2007 6:27am
Market still busy to show its colour. Will wait for further development. Possible lower high if price is going to go below 8ema but 8ema has proven as support although nor very strong as the moves away was not aggressive. Might see a move down to 21ema for both EurUsd and GbpUsd. Only time will tell
  • #8,258
  • Nov 8, 2007 7:13am Nov 8, 2007 7:13am
Hi,
I see G/j in a triangle here .I think we might see a break out soon.
Regards
mike
Attached Image (click to enlarge)
Click to Enlarge Name: gpy.gif Size: 30 KB
Failure, is a wonderful teacher!
  • #8,259
  • Nov 8, 2007 8:17am Nov 8, 2007 8:17am
I've been studying and testing this strategy (and the 5 min. as well), and I want to say it's the first time that a 4h strategy starts to work for me, I've always scalped the 5 min charts; there is a lot I have to study and learn, but I'm happy that I can understand and apply with good results this one.

So, before I continue testing and posting in the thread, I want to say thank you Phill, your ebooks are very good and very easy to understand, you are a great teacher; and also thanks to and all people here that share their time and knowledge to help.
Ado Whether you believe you can do a thing or not, you are right.
  • #8,260
  • Nov 8, 2007 8:18am Nov 8, 2007 8:18am
I quietly joined this thread last week and have been avidly reading up and starting to follow the trades with small money.

I'm up to page 75 and decided to start reading from both ends today. It's been said before and I'm sure it'll be said many more times yet, but WOW, the advice, enthusiasm, encouragement and support on this thread is the best I've ever come across.

Glad to be joining you and looking forward to getting lots of positive pips.

Paul
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