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4 Hour Strategy (MACD)

  • #8,881
  • Nov 29, 2007 7:19am Nov 29, 2007 7:19am
Quoting cesare76fx
US GDP out in 20 minutes, that might shake it
is that on a 1 hour chart?
  • #8,882
  • Nov 29, 2007 7:29am Nov 29, 2007 7:29am
Hi, that was what I thought about the possibilities of a trade usd/chf based on the fundy that are coming out now. I personally tend to stay away around news time.
  • #8,883
  • Nov 29, 2007 7:46am Nov 29, 2007 7:46am
looks like the housing data will be the clincher
  • #8,884
  • Nov 29, 2007 9:00am Nov 29, 2007 9:00am
Hello all, I've haven't been posting lately due to finals in college, but have most definately kept up with the thread.

I just wanted to let both the veterans and especially the new people know of another success story for this great system.

As my FIRST MONTH of using the system comes to an end, I'm up +402 pips with a 63% win percentage, and a 21:1 win:loss ratio. 8 trades. Never risking more than 3% on a single trade.

Aside from the successful results I wanted to let the new guys know that I was very conservative as I only made 8 trades for the month, BUT they were all high probability trades with the trends. I think this had a lot to do with the success seeing as how I used to overtrade badly.

Hope this gives the newcomers some drive and belief (because you must believe in yourself and the system), and I once again want to thank Phillip and ALL OF YOU for taking the time (that no one is forcing you) to help people like me.

I look forward to being back and active on the thread... if I can just get through finals!

-Merritt
"The market pays you to be disciplined"
  • #8,885
  • Nov 29, 2007 9:01am Nov 29, 2007 9:01am
Quoting Dollie
Phillip

Many thanks for your excellent thread and your many hours of sharing with us your method.

Regarding the 6 charts on one screen, I have found that when I do it, it does shrew my indicators differently than when its only one big chart on the screen. Therefor I cannot get so many small charts on one screen.

Have you perhaps seen any of that misrepresentation of the indicator when you make the screenshots so small ?
I have not seen that. If you use other indicators other than the MACD and Moving Averages you might get that distortion and then it is better to have a chart on one screen.

Thanks for making us attend to that.
Phillip
  • #8,886
  • Nov 29, 2007 9:10am Nov 29, 2007 9:10am
This week, usa's data is bad, why eur do not go up?
Plan your trades and trade your plans
  • #8,887
  • Nov 29, 2007 9:20am Nov 29, 2007 9:20am
Quoting EricthePip
Thanks for posting your views showing the 1hr/4hr. Quick question on the 1hr usage. I downloaded the mq4 file to "lock" the moving averages to from one time to another. Do you use the 1hr moving averages for confirmation (or S/R) or just the MACD pattern to confirm entry/set stop/get feel for the "short term" emotion. Your view looks to have 1hr time period SMA's and EMA's just wondering if they are part of your logic?

Thanks
Eric

Eric
What an answerfrom me. It is the weighting that I give at that specific setup. I give 75% weighting to MACD TC on 1H together with 4H TC. I use the 4H MA's to determine TP and so on
  • #8,888
  • Nov 29, 2007 9:23am Nov 29, 2007 9:23am
Quoting merrittb
Hello all, I've haven't been posting lately due to finals in college, but have most definately kept up with the thread.

I just wanted to let both the veterans and especially the new people know of another success story for this great system.

As my FIRST MONTH of using the system comes to an end, I'm up +402 pips with a 63% win percentage, and a 21:1 win:loss ratio. 8 trades. Never risking more than 3% on a single trade.

Aside from the successful results I wanted to let the new guys know that I was very conservative as I only made 8 trades for the month, BUT they were all high probability trades with the trends. I think this had a lot to do with the success seeing as how I used to overtrade badly.

Hope this gives the newcomers some drive and belief (because you must believe in yourself and the system), and I once again want to thank Phillip and ALL OF YOU for taking the time (that no one is forcing you) to help people like me.

I look forward to being back and active on the thread... if I can just get through finals!

-Merritt
Great to hear Merritt. I'm a newcomer, just starting to demo. Great to see that you just started yourself and have 400+pips in the bag. Very good to hear. Congrats....
  • #8,889
  • Nov 29, 2007 9:25am Nov 29, 2007 9:25am
Quoting Phillip Nel
Eric
What an answerfrom me. It is the weighting that I give at that specific setup. I give 75% weighting to MACD TC on 1H together with 4H TC. I use the 4H MA's to determine TP and so on
Thank you... so locking the MA on the 1hr (from the 4hr) makes sense for me. That way I can see the important MA's and not get confused.
  • #8,890
  • Nov 29, 2007 9:36am Nov 29, 2007 9:36am
Why is no one discussing this possible long?

I am losing so much confidence, UGH!
  • #8,891
  • Nov 29, 2007 9:47am Nov 29, 2007 9:47am
This is a wonderful system Philip. Thank you for all your efforts and ongoing input! I am anxious to start demo trading this method. I have used the MACD trading futures and it is very helpful. I believe adding all your other ideas along with the MACD looks like a great benefit.
Thanks so much!
Rob
  • #8,892
  • Nov 29, 2007 9:49am Nov 29, 2007 9:49am
Quoting unlv_tj
Why is no one discussing this possible long?

I am losing so much confidence, UGH!
Still 3 hours to go on my platform but on InterbankFx there could be a long signal. The only problem is that the market has allready gave a signal today of over 70pips. The current candle is over 40pips. Not for me. I took the downsignal for 62pips and will not be enterested on this one. The market is very seldom friendly twice in one day.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 20 KB
  • #8,893
  • Nov 29, 2007 9:51am Nov 29, 2007 9:51am
Quoting merrittb
Hello all, I've haven't been posting lately due to finals in college, but have most definately kept up with the thread.

I just wanted to let both the veterans and especially the new people know of another success story for this great system.

As my FIRST MONTH of using the system comes to an end, I'm up +402 pips with a 63% win percentage, and a 21:1 win:loss ratio. 8 trades. Never risking more than 3% on a single trade.

Aside from the successful results I wanted to let the new guys know that I was very conservative as I only made 8 trades for the month, BUT they were all high probability trades with the trends. I think this had a lot to do with the success seeing as how I used to overtrade badly.

Hope this gives the newcomers some drive and belief (because you must believe in yourself and the system), and I once again want to thank Phillip and ALL OF YOU for taking the time (that no one is forcing you) to help people like me.

I look forward to being back and active on the thread... if I can just get through finals!

-Merritt
That's great news, not the finals in college part, the trading. But, I hope the grades match the trading. Think about it though, if you flunk out then just trade as a career!!!:

unlv: I didn't have the time to post but I waited for another 1hr signal. After the bull hammer I got in again. Then I watched a lower tf and saw that there was a close above a pivot # and added. Right now I have price at the m2 level so we'll see. Total up about 100 pips floating.....

Edit: Again, this is a 1hr entry. Actual price action is a little more critical here...
Attached Image
  • #8,894
  • Nov 29, 2007 9:52am Nov 29, 2007 9:52am
Thank you Phillip, I was about to lose my mind.

I should have taken the long when I spotted it at 1.467, but too late.

I was asleep during the long bear candle. Wish I didn't have to sleep. DAMN!
  • #8,895
  • Nov 29, 2007 9:57am Nov 29, 2007 9:57am
Quoting unlv_tj
Why is no one discussing this possible long?

I am losing so much confidence, UGH!
Hi Unlv

This is what my chart on Interbankfx looks like. And there are still four minutes left before the close the candle (12H00 GMT candle)
Attached Image (click to enlarge)
Click to Enlarge Name: 20071129 eur 4h.gif Size: 17 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #8,896
  • Edited 10:04am Nov 29, 2007 9:59am | Edited 10:04am
Quoting unlv_tj
Why is no one discussing this possible long?

I am losing so much confidence, UGH!
Ive been watching this but have gotten no signal on my 4hr macd yet....you could have taken the trade at the 89 bounce but this would have been before some major news announcements.....on my gmt chart i have 5 minutes left on this four hour candle and it is 4 pips away from turning green on the macd. ont he gmt+2 chart i have 2 hours and 5 minutes. i have green macd by about 11 pips but have over two hours left for it to change back to red.........also on 1 hour. chart. price has arrived at 21 and could bounce down giving me a tc pattern on the 4 hr and 1 hr ......thats what i am waiting for.......thats my take on it............PIPIp....Jimdandy


update. candle closed on gmt chart with no macd signal.......bottom line is that i do not have a "COMPLETED" macd bar on my 4 hr and 1 hr that agree with each other.......yet.....
  • #8,897
  • Nov 29, 2007 10:00am Nov 29, 2007 10:00am
Quoting unlv_tj
Thank you Phillip, I was about to lose my mind.

I should have taken the long when I spotted it at 1.467, but too late.

I was asleep during the long bear candle. Wish I didn't have to sleep. DAMN!
I read an interview about a news reporter who was asked:

"If you could have one 'superpower' what would it be?"

Her response was:

"The power of not having to sleep."

I thought about that for a long time and it makes all the sense in the world.

There will be another candle...
  • #8,898
  • Nov 29, 2007 10:03am Nov 29, 2007 10:03am
Quoting saka
This week, usa's data is bad, why eur do not go up?

it is tired of going up, it has been going up for 2 years, this is not a stock market were a stock can go from $1 to $200, EU can't accept more EUR gains, 1.5 is the max they can allow, time for EUR to go down for at least the coming year, back to 1.2
  • #8,899
  • Nov 29, 2007 10:06am Nov 29, 2007 10:06am
Quoting unlv_tj
Thank you Phillip, I was about to lose my mind.

I should have taken the long when I spotted it at 1.467, but too late.

I was asleep during the long bear candle. Wish I didn't have to sleep. DAMN!

The 1H was a way to get in on a retrace using MACD as well as candle emotion but then you need some experience based on history and confidence based on trades done on the 1H.

The 4H might still work out but the risk is not worth it at this stage with a signal that was allready given earlier in the day. Just a way of managing risk.

Phillip
  • #8,900
  • Nov 29, 2007 10:08am Nov 29, 2007 10:08am
Quoting Palmer
That's great news, not the finals in college part, the trading. But, I hope the grades match the trading. Think about it though, if you flunk out then just trade as a career!!!:

unlv: I didn't have the time to post but I waited for another 1hr signal. After the bull hammer I got in again. Then I watched a lower tf and saw that there was a close above a pivot # and added. Right now I have price at the m2 level so we'll see. Total up about 100 pips floating.....

Edit: Again, this is a 1hr entry. Actual price action is a little more critical here...
I feel very upset for I entered at the same time as you, but long GBP/USD. From 1h
I entered @2.0625 SL is 2.0600, I was kicked out
Plan your trades and trade your plans
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