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4 Hour Strategy (MACD)

  • #9,061
  • Dec 4, 2007 2:07pm Dec 4, 2007 2:07pm
Efranco exactly what I was looking for! Thank you so much for sharing my friend!

Rob
longboat
  • #9,062
  • Dec 4, 2007 2:21pm Dec 4, 2007 2:21pm
Quoting unlv_tj
Are you in any trades right now JimTatum?

Ugh, so upset with myself.
Thought I would drop in for a sec between mosquito bites and bad busses. Hey Unlv, I am sorry for your loss. I have no idea what the charts are reading right now, but wanted to encourage you and myself to remember that trading is a process. One step at a time. Dion
  • #9,063
  • Dec 4, 2007 2:25pm Dec 4, 2007 2:25pm
Quoting HipsterPipster
Thought I would drop in for a sec between mosquito bites and bad busses. Hey Unlv, I am sorry for your loss. I have no idea what the charts are reading right now, but wanted to encourage you and myself to remember that trading is a process. One step at a time. Dion
Hey thanks man. I know you are pretty much out all this month, and I owe you so much for pointing me to this thread.

After 1 week of live trading I am up just slightly. I just need to get used to all this. Oh, and I think I am addicted, LOL. This is A LOT of fun.

Than you again!
  • #9,064
  • Dec 4, 2007 2:32pm Dec 4, 2007 2:32pm
You know that jittery feeling you get after drinking way way too much coffee? If you have that feeling before a trade, you may consider not trading and get profesional help. JK, keep working forward bro.
  • #9,065
  • Dec 4, 2007 2:47pm Dec 4, 2007 2:47pm
thats right UNLV...good that you are learning..just demo trade for awhile.
Most ppl don't make money(us middle class),especially in the beginning,in leveraged products. Go to elite trader.com see the stories.
Its freaking tough! Only money I have made money is in equities..not forex,futures or options.
IHO.
  • #9,066
  • Dec 4, 2007 3:09pm Dec 4, 2007 3:09pm
Dear all

I think this was the most best chance today for the GBP .. regarding to the last trade I got out with nill pips.

Best wishes

Ammar
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  • #9,067
  • Dec 4, 2007 3:14pm Dec 4, 2007 3:14pm
Quoting pips4uandme
Hi Ammar,

Know Phillip already answered w/zero break criteria but I also think it is important to look at the MA's and how they are all closely knit together (not really a very good trading environment). Your trade, however, was a nice range play w/MACD direction (look at the levels of MACD signal too -- pretty weak -- all less than the .0015 level -- shows little interest in pair). I did something similar -- playing the range, but exited at 2.0570 (upper part of lower range). We can thank the CAD surprise rate cut for helping us get the down move (imho) -- maybe some thought BOE may do same? You've moved to BE + a few pips in your favor, eh?

Happy trading

Pips
Hi dear

Infact I was very nervus today there wasnnt any movement today for the GBP .. any how I got out from it with zero pips

have anice trading

Ammar
  • #9,068
  • Dec 4, 2007 3:27pm Dec 4, 2007 3:27pm
what does the number stand for on the current bar on the MACD ?
  • #9,069
  • Dec 4, 2007 4:24pm Dec 4, 2007 4:24pm
Quoting aboammar
Hi dear

Infact I was very nervus today there wasnnt any movement today for the GBP .. any how I got out from it with zero pips

have anice trading

Ammar
Sorry to hear that, Ammar. (Sorry, I misread your post and thought you got in w/range play at 2.0650ish). Your analysis above is nice illustration. Glad to hear you didn't lose any pips (that is always a good trade). Totally understand how you felt w/cable today too -- did you also notice it wasn't moving w/E/U? Been seeing this a bit more lately....hmmmmmm

Now we just sit tight and wait, eh? Expect GBP/USD may be weird until after BOE meets later this week.

Wishing you many great trades!

Pips
  • #9,070
  • Edited 4:47pm Dec 4, 2007 4:42pm | Edited 4:47pm
This post is in regards to U/J. Why are we forcing the trades? Yen Pairs are a bit tempermental and require a bit of practice (imho). They seem to follow their own set of rules due to the carry trade environment. We haven't seen a good rhythm really develop for the upmove yet -- so why would we want to risk some pips at this stage betting on a bounce? Why not wait for better confirmation? Also, the MACD is in negative territory & price is below the 21 & 8 ema's right now. Price can still go anywhere at the moment, but there isn't much room up to the 8/21. & the current price action provides a resistant line @ ~110.15 (down line meets up line here -- and is near the MA). Personally, I would want to see price peirce this level w/strong upward conf. from MACD before going long or see price bounce from~109.41 w/upmove confirmed. (the irony is I don't trade U/J very often (I'm a G/J E/J trader -- & their price action is diverging which means the yen pairs are acting independently of one another, which is unusual..but I'm bearish on G/J), so I wouldn't take the trade either way...just sharing what I see). I do think price will eventually reach the 200, just not sure how or when it will get there. Have I confused you guys? Yikes!! The good thing about the longs is your stops can be pretty close..

We are only in the beg. of the month and have many days to trade. No need to force it on the second trading day of the month (especially during Dec.).


Hope the trades go way positive for you all!

Best,
Pips
  • #9,071
  • Dec 4, 2007 4:45pm Dec 4, 2007 4:45pm
Quoting FxTex
what does the number stand for on the current bar on the MACD ?
Hi FXTex!

I don't use the MACD pre-programmed indicator, but I think it tells you how many min. until closing. Maybe someone could confirm this?

Happy trading,
Pips

Ps. Bet someone gets cute and say's Last Call! LOL!!
  • #9,072
  • Dec 4, 2007 4:49pm Dec 4, 2007 4:49pm
Quoting HipsterPipster
You know that jittery feeling you get after drinking way way too much coffee? If you have that feeling before a trade, you may consider not trading and get profesional help. JK, keep working forward bro.

!!! You mean that's not normal???

Hope the bus ride is going super Awesome!!!!!!!!! Glad you got the visa issues fixed!

Happy travels!
Pips
  • #9,073
  • Dec 4, 2007 5:17pm Dec 4, 2007 5:17pm
Pips4MeAndYou, thank you for your response on the USDJPY. I was a little shaky when I got up 10 pips, and realized it was not a strong trend, no 4 hour MACD signal and there was MACD diversion.

I have learned my lesson. I did not realize the USDJPY behaved that much differently than say the EURUSD or GBPUSD. I will keep this in mind next time.

Have you taken any trades this week? I am wondering if I have over looked anything.
  • #9,074
  • Dec 4, 2007 5:23pm Dec 4, 2007 5:23pm
Quoting pips4uandme
This post is in regards to U/J. Why are we forcing the trades? Yen Pairs are a bit tempermental and require a bit of practice (imho). They seem to follow their own set of rules due to the carry trade environment. We haven't seen a good rhythm really develop for the upmove yet -- so why would we want to risk some pips at this stage betting on a bounce? Why not wait for better confirmation? Also, the MACD is in negative territory & price is below the 21 & 8 ema's right now. Price can still go anywhere at the moment, but there isn't much room up to the 8/21. & the current price action provides a resistant line @ ~110.15 (down line meets up line here -- and is near the MA). Personally, I would want to see price peirce this level w/strong upward conf. from MACD before going long or see price bounce from~109.41 w/upmove confirmed. (the irony is I don't trade U/J very often (I'm a G/J E/J trader -- & their price action is diverging which means the yen pairs are acting independently of one another, which is unusual..but I'm bearish on G/J), so I wouldn't take the trade either way...just sharing what I see). I do think price will eventually reach the 200, just not sure how or when it will get there. Have I confused you guys? Yikes!! The good thing about the longs is your stops can be pretty close..

We are only in the beg. of the month and have many days to trade. No need to force it on the second trading day of the month (especially during Dec.).


Hope the trades go way positive for you all!

Best,
Pips
Hi,

why to bother if stops are close or not? What kind of MM do you use? If you use fixed amount of % risked in any trade it is not a difference if stops are close or not - in case of failure you loose the same amount of $.
Just of my curiosity.
----
Michael
  • #9,075
  • Dec 4, 2007 5:36pm Dec 4, 2007 5:36pm
I think it will be a good time to go short on eur/usd. Looks to me like price is in a channel and its about to peak out and go back down to 70-160 pips in the near future. I went short at 1.4761. I prob could have waited for it to go up a bit farther but my sl is at 1.4794, so price best stay in channel... lol
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  • #9,076
  • Dec 4, 2007 6:21pm Dec 4, 2007 6:21pm
Quoting FxTex
what does the number stand for on the current bar on the MACD ?

Tex:

The number shows how many pips are needed to change the MACD histogram bar from red to green or green to red....

The parental units are coming in town this evening for a few days and my current work schedule has me tied down. Soooo, gonna be here 'in spirit only' but I'll try to stop by when I can. Should be closer to 'normal' next week. Still trying to figure out what 'normal' actually is....

Trade well...
  • #9,077
  • Dec 4, 2007 6:37pm Dec 4, 2007 6:37pm
hey, pips4uandme

I'm trying to get a hold of you but since I'm new to forexfactory and I cant send private messages. Do you think you could email me at [email protected] I need to ask you something. Thanks
  • #9,078
  • Dec 4, 2007 6:47pm Dec 4, 2007 6:47pm
First, I would like to say this forum is amazing. It has opened my eyes to a new way of looking at forex. Thanks to everyone for your contributions.


How does GBPUSD look as a shorting opportunity? It has been range bound and momentum is falling. The current candles is engulfing the previous candle. The tail touched the 89. Perhaps down to the 2.05 area (this area showed as support on 11/23, 11/30, and 12/3). As of right now would be about 30 pips. Perhaps a few pips above the 89 and a s/l. Let me know what you think.
  • #9,079
  • Dec 4, 2007 7:09pm Dec 4, 2007 7:09pm
Quoting Michael81
Hi,

why to bother if stops are close or not? What kind of MM do you use? If you use fixed amount of % risked in any trade it is not a difference if stops are close or not - in case of failure you loose the same amount of $.
Just of my curiosity.
----
Michael
Ok
Starting with an acount of $1000 and a risk of 1%. You have a TP in mind that is 200 pips.
1. Risk of 1% = $10 risked per trade. ($1000X.01 = $10)
2.A SL of 100 pips gives you a pip value of $.10, (100X$.10 = $10)
3.A SL of 10 pips gives you a pip value of $1, (10X$1 = $10)
4.A $200 profit vs $20 profit is why.
5.With this in mind, you need to consider what SL is safe and gives your trade room to breath and allows you to make the most of your trade without killing it.
  • #9,080
  • Dec 4, 2007 7:35pm Dec 4, 2007 7:35pm
Attached File(s)
File Type: xls PPts.xls   24 KB | 758 downloads
Quoting saka
Could you show me more details? I know that daily pivot point has s1 s2 s3 r1 r2 r3 these point, how could you use them as r/s line or profit target?
Saka,
I think I have posted this in the past somewhere. Here is a spreadsheet that lets me enter the high, low, open and close (OHLC) for the day (Yellow cells). I also calculate Pivots based on weekly OHLC updating at midnight EST. Below that on the spreadsheet, it defines the central pivot point, S1, S2, R1, R2, and midpoints between them. I use these Pivots to set TPs and Stops. Typically, you will find hesitations and resistances as price action approaches these numbers. Right now, the EU is sitting on the R2 (freaky, eh?)
Take a look at it and let me know if you want me to walk you through it.
Frick
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