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4 Hour Strategy (MACD)

  • #8,681
  • Edited 5:06am Nov 23, 2007 5:02am | Edited 5:06am
Quoting steven
Hi every1

i was started to read this whole thread back in march and i liked it.At that time i decided that longer term trading is not for me i 'd rather scalp.After few months of scalping i did fine but somehow i realised that if i wanna make really big pips,long term the way that is.So i started to read it again.Now my only "fear" of long term trading is news time! I always have this phobia since i lost a lot of money on NFP (i trade mostly eu/usd) couple of years ago.I am asking anyone whom using this system or trading long term how to over come this? i mean nobody knows what would be the out come of the news (big ones)it could shift the whole market in the opposit direction.Now if i am in the trade should i just close my position even its not in too much profit (even worse its a loss)?i never traded long terms but need some encouragement from traders using this system.thanks anyone who cares to reply.good trading
Phillip has advised not to trade major news releases (NFP and rates), so it's better to stay out of the market these days and try to earn money with some other short term strategies (like Phillip's 5 min system). Other news releases don't affect much this system. You will also notice that usually MACD gives the right direction of the movement before news. So, if you are already in the position, I think it's wise to close part of your position before major news and put the rest to b/e, or put your SL for the left part of the position in such place where even if it will be hit you would be anyway b/e on this trade (using the pips you alread have for putting SL on the rest of the position in good place). Hope it's not very confusing.
Welcome to the thread!
  • #8,682
  • Nov 23, 2007 6:39pm Nov 23, 2007 6:39pm
I really like this thread. I think you are doing a great job. I hope you start a managed program when you are ready. I have several good managed accounts and I would like to add yours to my portfolio. Thanks
  • #8,683
  • Nov 23, 2007 7:00pm Nov 23, 2007 7:00pm
Thought I would pass along this little trick i have done......I have learned to set alerts in my mt4. I hate it when i have more than one alert set and one of them goes off and i have to figure out which alert for which currency pair is going off......so I decided to make my own alert. Whenever you set an alert on a particular currency pair. You can select which wav file it plays when the alert goes off. This is selected by pushing the button just above the "maximum iterations" drop down menu. The one with three dots in it..........
For instance i have an alert set on the eurousd to let me know if the price drops below the current pinbar that formed at the top of the daily chart today......(The Friday after Thanksgiving Nov. 23) also there were pinbars on the usdchf, eurchf, and usdjpy....
Then I made my own alerts. I used window sound recorder and my microphone to record my own wav files. So I simply recorded the statement "The Pinbar on the Euro has been broken"and saved it as a wav file in my mt4 "sounds" folder. Then when i set the alert on my euro pinbar I selected this wav file. So now I have prerecorded waves for different circumstances in my sounds folder. And when i set an alert I choose the corresponding wav. Of course I name the Wav file something recognizable i.e. EuroBrokenPinBar.wav
Anyway it gave me something to do while waiting on the market to show some rythym........hope someoned can use this......pipip......Jimdandy
  • #8,684
  • Nov 24, 2007 6:25am Nov 24, 2007 6:25am
I like the look of the USD/CHF... We have 1,2,3 4 hits on the 21 EMA and MACD slowing down, possible ZB developing.

Im gonna watch this closely when the market open
  • #8,685
  • Nov 24, 2007 9:32am Nov 24, 2007 9:32am
Quoting JimDandy
Thought I would pass along this little trick i have done......I have learned to set alerts in my mt4. I hate it when i have more than one alert set and one of them goes off and i have to figure out which alert for which currency pair is going off......so I decided to make my own alert. Whenever you set an alert on a particular currency pair. You can select which wav file it plays when the alert goes off. This is selected by pushing the button just above the "maximum iterations" drop down menu. The one with three dots in it..........
For instance i have an alert set on the eurousd to let me know if the price drops below the current pinbar that formed at the top of the daily chart today......(The Friday after Thanksgiving Nov. 23) also there were pinbars on the usdchf, eurchf, and usdjpy....
Then I made my own alerts. I used window sound recorder and my microphone to record my own wav files. So I simply recorded the statement "The Pinbar on the Euro has been broken"and saved it as a wav file in my mt4 "sounds" folder. Then when i set the alert on my euro pinbar I selected this wav file. So now I have prerecorded waves for different circumstances in my sounds folder. And when i set an alert I choose the corresponding wav. Of course I name the Wav file something recognizable i.e. EuroBrokenPinBar.wav
Anyway it gave me something to do while waiting on the market to show some rythym........hope someoned can use this......pipip......Jimdandy
Hi, Jim! It all sounds like a very useful tool, keep up a great job. Could you please post this tool here, I'd like to test it.
  • #8,686
  • Nov 24, 2007 1:17pm Nov 24, 2007 1:17pm
Hey everyone! I finally woke up after all that turkey...

Even more new faces joining in, welcome. I just updated the site with the weekly postings and chart updates. I did manage to squeeze in on trade from the bounce off the 21 on the 4hr per the 1hr chart. That long bull 1hr candle was the deciding factor for me. Yes, I'm holding these positions over the weekend which is dangerous but this bull keeps running and it would be nice to see price at least make a double top from here...if you're long. Either way we'll see what next week brings.

Is it me or does anyone else notice that when price separates itself away from the 8 ema (and creates a gap between itself and the 8 ema) the probability of a Rt or Rb forming and coming back down to the 8 ema is a lot higher vs. just taking a Rt or Rb signal when price is at the 8ema, wait for the MACD to return to the 'trend direction color' and simply take that as a Tc trade?
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  • #8,687
  • Nov 24, 2007 3:39pm Nov 24, 2007 3:39pm
Quoting alexfot
Hi, Jim! It all sounds like a very useful tool, keep up a great job. Could you please post this tool here, I'd like to test it.
Hello alexfot..... there is nothing for me to post. All I am doing is using the built in alert function in MT4. If you open terminal in mt4(alt+t) you will see Trade,Account History, News, Alerts, Mailbox, Experts and Journal tabs across the bottom. Click on the alert tab. If you dont already have any alerts set you will see nothing but blank space, right click on that space and select from the menu "create" then the window pops up then follow the directions in my previous post.......pipip.......Jimdandy.......
  • #8,688
  • Nov 24, 2007 3:56pm Nov 24, 2007 3:56pm
Quoting Palmer
Hey everyone! I finally woke up after all that turkey...

Even more new faces joining in, welcome. I just updated the site with the weekly postings and chart updates. I did manage to squeeze in on trade from the bounce off the 21 on the 4hr per the 1hr chart. That long bull 1hr candle was the deciding factor for me. Yes, I'm holding these positions over the weekend which is dangerous but this bull keeps running and it would be nice to see price at least make a double top from here...if you're long. Either way we'll see what next week brings.

Is it me or does anyone else notice that when price separates itself away from the 8 ema (and creates a gap between itself and the 8 ema) the probability of a Rt or Rb forming and coming back down to the 8 ema is a lot higher vs. just taking a Rt or Rb signal when price is at the 8ema, wait for the MACD to return to the 'trend direction color' and simply take that as a Tc trade?
Hello Palmer, glad to hear you came out of your tryptophan induced coma.......I was thinking just the opposite scenario as you. I thought about shorting the euro at the close just because of the Pinbar on the Daily. But then I also took into consideration that this pinbar probably occoured because of such a thin market over the holiday. But i was thinking that the market might open gap down Sunday and then close the gap....i hope im wrong and ur right...1.4877 looks like about the 61.8 retrace from the top of that big bear candle to the low friday.....i would be looking to jump out there or at least take part of it off and move rest to BE.....

Yes i had also noticed how the counter trend trades were much more reliable when far out from the 8ema. I guess thats because the market moved to far to fast and it needs to correct a little. Kind of like bouncing off of a bollinger band..... once it gets back to the 8 though i like to take partial profit and then let one try to make it to the 21..... depends on what speed that market has been at....if it has been in the "fast" lane outside the 8 or in the "middle' lane next to the 21ema......anyway hope it works out for ya.....if it opens gap down sunday dont panic.....give it a chance to close the gap..........but then again who knows what sunday brings things are nuts right now..........good pips to ya.........pipip........Jimdandy...
  • #8,689
  • Nov 24, 2007 4:18pm Nov 24, 2007 4:18pm
Holiday trading is always iffy but I just took it as a 'here's another 'probable' bounce off the 21' scenario. But, I'm hoping that your prophecy becomes fulfilled . It's interesting that the Fib #'s have to be calculated from jsut a few bars back because of the way this thing is moving...I tend to trade aggressively on the 1hr set ups so we'll see...
  • #8,690
  • Nov 25, 2007 9:14am Nov 25, 2007 9:14am
The UsdJpy breakout trade that I did.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 20 KB
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File Type: zip Weekly Anticipation.zip   813 KB | 1,428 downloads
  • #8,691
  • Nov 25, 2007 9:26am Nov 25, 2007 9:26am
Info
Attached Image (click to enlarge)
Click to Enlarge Name: Live Trades.gif Size: 27 KB
  • #8,692
  • Nov 25, 2007 10:32am Nov 25, 2007 10:32am
Quoting JimDandy
Hello alexfot..... there is nothing for me to post. All I am doing is using the built in alert function in MT4. If you open terminal in mt4(alt+t) you will see Trade,Account History, News, Alerts, Mailbox, Experts and Journal tabs across the bottom. Click on the alert tab. If you dont already have any alerts set you will see nothing but blank space, right click on that space and select from the menu "create" then the window pops up then follow the directions in my previous post.......pipip.......Jimdandy.......
Thank you Jim again! When I had read it again closely I understood how you did it, it can be very useful and I have to try it.
  • #8,693
  • Nov 25, 2007 12:15pm Nov 25, 2007 12:15pm
Quoting Palmer
Hey everyone! I finally woke up after all that turkey...

Even more new faces joining in, welcome. I just updated the site with the weekly postings and chart updates. I did manage to squeeze in on trade from the bounce off the 21 on the 4hr per the 1hr chart. That long bull 1hr candle was the deciding factor for me. Yes, I'm holding these positions over the weekend which is dangerous but this bull keeps running and it would be nice to see price at least make a double top from here...if you're long. Either way we'll see what next week brings.

Is it me or does anyone else notice that when price separates itself away from the 8 ema (and creates a gap between itself and the 8 ema) the probability of a Rt or Rb forming and coming back down to the 8 ema is a lot higher vs. just taking a Rt or Rb signal when price is at the 8ema, wait for the MACD to return to the 'trend direction color' and simply take that as a Tc trade?

I posted about the 8ma a few months ago and yes it does happen a lot.
Keep taking CT trades, I need more money
  • #8,694
  • Nov 25, 2007 12:23pm Nov 25, 2007 12:23pm
If you played TC last week I think you may have had 10+ winners and maybe 1-2 losses. I will be around this week but gone most of next month Good luck and make some pips.
Keep taking CT trades, I need more money
  • #8,695
  • Nov 25, 2007 1:38pm Nov 25, 2007 1:38pm
hi
take a look at eurchf .
white TL is weekly uptrend.i'm looking for a sell signal near green down TL
good luck
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 34 KB
  • #8,696
  • Nov 25, 2007 1:42pm Nov 25, 2007 1:42pm
Quoting Ryanmcd
If you played TC last week I think you may have had 10+ winners and maybe 1-2 losses. I will be around this week but gone most of next month Good luck and make some pips.
Hi, Ryan! On which pair did you see 10 TC signals? I mostly trade EU, and it had been only 2 TC signals there, I took both of them and they played nice to me. I also watch GU and am going to trade it soon.
  • #8,697
  • Nov 25, 2007 1:52pm Nov 25, 2007 1:52pm
Quoting bshadroo
hi
take a look at eurchf .
white TL is weekly uptrend.i'm looking for a sell signal near green down TL
good luck
Hi, bshadroo! I would be very careful shorting this pair now even if macd shows a TC signal, which is still not on place now, b/c we have a perfect pin bar on daily telling us of possible upward move. Just my observation, b/s I don't trade this pair, but if I did, I would be looking for a long signal, but I can be wrong.
  • #8,698
  • Nov 25, 2007 1:53pm Nov 25, 2007 1:53pm
also usdchf have the same condition i think
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 30 KB
  • #8,699
  • Nov 25, 2007 1:58pm Nov 25, 2007 1:58pm
Quoting alexfot
Hi, bshadroo! I would be very careful shorting this pair now even if macd shows a TC signal, which is still not on place now, b/c we have a perfect pin bar on daily telling us of possible upward move. Just my observation, b/s I don't trade this pair, but if I did, I would be looking for a long signal, but I can be wrong.
general speaking i agree whith u,we can't say the weekly trend is broken down yet ,may after 1 or 2 daily close below that we can sell the pair whith more confidence.
anyway ,thx alot for sharing
  • #8,700
  • Nov 25, 2007 4:47pm Nov 25, 2007 4:47pm
Quoting alexfot
Hi, Ryan! On which pair did you see 10 TC signals? I mostly trade EU, and it had been only 2 TC signals there, I took both of them and they played nice to me. I also watch GU and am going to trade it soon.
I watch, EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY.
Keep taking CT trades, I need more money
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