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4 Hour Strategy (MACD)

  • #9,421
  • Dec 13, 2007 4:24am Dec 13, 2007 4:24am
Quoting kc8flq
Hello everybody, I have been reading the pdfs and other files, this system is amazing so far Phil!!I'm in my 2nd paper trade, and a 2nd profit so far. I think I'm getting the hang of it.

Hello everybody! Thought I'd at least stick my nose in here once this week.

kc: The one thing to remember is the patience factor. Take the time to go over the method and review some historical charts to see how things look. Trading can be a frustrating business but if you put the time in it can pay off, especially with Phillip's method. There's a website also for the method, check my signature here. The Tools link has some extra goodies to go along with the method. Welcome to the thread!.

Gotta run folks...still up to my neck in things right now....
  • #9,422
  • Dec 13, 2007 4:33am Dec 13, 2007 4:33am
Quoting vette1974
Remington TJ I see the same on my chart I am going short.
SL @ 1,4748 ?
  • #9,423
  • Dec 13, 2007 5:43am Dec 13, 2007 5:43am
I was going to put the stop at 1.4715. It looks like it went down as planned, I was worried about it finding support on the 200 like twice before that is why I stayed out.
  • #9,424
  • Dec 13, 2007 6:17am Dec 13, 2007 6:17am
USD/JPY is about to form a TC,365 ema maybe the target, any comment?
Plan your trades and trade your plans
  • #9,425
  • Dec 13, 2007 6:26am Dec 13, 2007 6:26am
Quoting vette1974
I was going to put the stop at 1.4715. It looks like it went down as planned, I was worried about it finding support on the 200 like twice before that is why I stayed out.
is the 200MA really so often an exact support?
  • #9,426
  • Dec 13, 2007 6:54am Dec 13, 2007 6:54am
Quoting saka
USD/JPY is about to form a TC,365 ema maybe the target, any comment?
I am upset at myself for missing the EURUSD short this morning. Ugh.

Okay, the USDJPY looks like a possible long. I am uncertain with the long bar that is getting ready to close as I type this message. I have a trend line that the top of this long bar nearly touches. Tough call. I may wait for a retrace on the next bar before going long.
  • #9,427
  • Edited 8:06am Dec 13, 2007 6:54am | Edited 8:06am
I got the e-mail to Fari a bit late so he might have missed it. Here it is.


I did not enter on the first MACD short signal due to the fact that the candle was still small and a breakout to the top above 89 was a possibility. I therefor entered on the candle as on the graph. That tail was the confirmation.

EurUsd
12:00 Enter on Bearish candle on 4H and 1H, MACD divergence and lower high. My aim is to be in the deal if it breaks through 200sma down.
Will go to breakeven after 20pips as to minimise the risk of a 200sma bounce up. Might take 50% profit after 20 and set remainder to -20 as to give the remainder some breathing space away from the 200sma and settle for a BE if it turns around.

Edit 1
50% profit taken for +20. Remainder set at -20 to go breakeven if it turns around with a 40 trailing stop on remainder.

Edit 2
Set remainder at BE after 1.4650 was reached

Edit 3
Set remainder to 1.4670 just above 200 for a possible pullback

Edit 4
Remainder to 1.4650

Edit 5
Remainder to 1.4625

Edit 6
Remainder was closed on 1.4610 after a pullback

Total gain 20 on 50% and 76 on remainder = 48 average
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 46 KB
  • #9,428
  • Edited 7:13am Dec 13, 2007 7:11am | Edited 7:13am
At least I have cought you up Phillip. I did exactly the same trade today on E/U . 1 lot closed for +25 the other is at breakeven.

P.S. I have also managed to take some pips of U/J today from 1hour with this TC on 4 hour.
  • #9,429
  • Dec 13, 2007 7:26am Dec 13, 2007 7:26am
Quoting ira
At least I have cought you up Phillip. I did exactly the same trade today on E/U . 1 lot closed for +25 the other is at breakeven.

P.S. I have also managed to take some pips of U/J today from 1hour with this TC on 4 hour.

I am interested to see if 200 is going to becom resistance. It went back and test it. If it moves now it will GOOOOO!!!

Edit.
My goodness. After I typed this it did move away from 200. It must go now.
  • #9,430
  • Dec 13, 2007 7:39am Dec 13, 2007 7:39am
Wow the EURUSD has really taken off congrads to those who got it. I was too chicken to take the trade I saw it set up but I am starting to loose confidence in my trading even though I am a little over break even in my demo account after 3 weeks. I think it is time for me to go back and rework some previous charts to get my confidence back.
  • #9,431
  • Edited 8:04am Dec 13, 2007 7:40am | Edited 8:04am
wow,missed that one,incredible candle with no news!..that I know off. Retrace to 50 % fib?
Good call Phil!,XMAS present for ones that took it with a full lot or more.
  • #9,432
  • Dec 13, 2007 7:45am Dec 13, 2007 7:45am
Quoting Phillip Nel
I am interested to see if 200 is going to becom resistance. It went back and test it. If it moves now it will GOOOOO!!!

Edit.
My goodness. After I typed this it did move away from 200. It must go now.

I hope you are still in this. Start getting the +100 trades, makes it a lot easier to trade
Keep taking CT trades, I need more money
  • #9,433
  • Dec 13, 2007 7:58am Dec 13, 2007 7:58am
Quoting Phillip Nel
I am interested to see if 200 is going to becom resistance. It went back and test it. If it moves now it will GOOOOO!!!

Edit.
My goodness. After I typed this it did move away from 200. It must go now.
Phillip - you are a market wizard!!!
How would you manage this trade now?
  • #9,434
  • Dec 13, 2007 8:03am Dec 13, 2007 8:03am
Quoting ira
Phillip - you are a market wizard!!!
How would you manage this trade now?
what's your PT now?

Till
  • #9,435
  • Dec 13, 2007 8:05am Dec 13, 2007 8:05am
here is the euro trade i just did, i was waiting for euro to break out of 200 sma and was waiting to enter at 200 sma retrace, so i switch to 30 minute chart and enter right at 1.4665 with 2 lots, Set 1st lot to 20 pips, TP ,and second lot to 1.4625 above 2 trend lines that i have. Both targets hit within minutes, i was not expecting such a fast move , but not complaining either .

Ira well done on your entry , you positioned yourself for the break out.i was tempted to enter earlier as well but wanted to see the 200 break,
Price might not have retraced , but when it did i did not hesitate to enter and that is a big step for me. Finally getting somewhere.
Nadia.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro 4 hour.jpg Size: 209 KB
Click to Enlarge Name: euro 30minute.jpg Size: 190 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #9,436
  • Edited 8:31am Dec 13, 2007 8:09am | Edited 8:31am
Quoting ira
Phillip - you are a market wizard!!!
How would you manage this trade now?
I had a Fib drawn but I gave the remainder a chnce for a retrace till 1.4610 which was closed so I am out totally for 48 gain on average. (20 on 50% and 76 on rest)

That is a 161.8% Fib level
Attached Image
  • #9,437
  • Dec 13, 2007 8:17am Dec 13, 2007 8:17am
Quoting BIL2205
Ira well done on your entry , you positioned yourself for the break out.i was tempted to enter earlier as well but wanted to see the 200 break,
Price might not have retraced , but when it did i did not hesitate to enter and that is a big step for me. Finally getting somewhere.
Nadia.
Very good Nadia! We have fallen out of the categories .
  • #9,438
  • Dec 13, 2007 8:27am Dec 13, 2007 8:27am
Quoting RemingtonTJ
what's your PT now?

Till
I was not sure, wanted to keep till the signs of weakness on MACD, but got greedy so closed on the 1.4600. I also have TL there.
  • #9,439
  • Dec 13, 2007 8:32am Dec 13, 2007 8:32am
Well done everyone who made pips on the euro today. You all deserve them for the work you do here!

I seem to be having a major confidence crisis at the moment. I see reasons to trade and then see as many reasons not to, so stay out and lose out. Then I have a word with myself, decide to trade and watch it reverse! So trades that I talk myself out of are winners, and the ones I go for are losers! Not big losses, I have strict MM rules, but I've had 4 in a row now and am even more scared to pull the trigger than ever! I never had any more than 2 losses in a row before and am really struggling with myself to stay on top of the nerves - I think the nerves are winning!

I've kept out for a while through other commitments, but also to demo and try and get some confidence back. It doesn't seem to be coming together for me just now and I don't know why. Sorry to cry here but I don't have anyone else to talk to!

This is why I haven't posted much and, as I said in my reply to Ashes, I don't want to influence anyones trades - I can't even manage my own! I always talk of caution, but you must not allow your caution turn to fear like I seem to have done. Sorry to ramble, this is all for now.

Rebecca.
May all your pips grow into great big fruitful trees
  • #9,440
  • Dec 13, 2007 9:22am Dec 13, 2007 9:22am
Quoting Bag Lady
Well done everyone who made pips on the euro today. You all deserve them for the work you do here!

I seem to be having a major confidence crisis at the moment. I see reasons to trade and then see as many reasons not to, so stay out and lose out. Then I have a word with myself, decide to trade and watch it reverse! So trades that I talk myself out of are winners, and the ones I go for are losers! Not big losses, I have strict MM rules, but I've had 4 in a row now and am even more scared to pull the trigger than ever! I never had any more than 2 losses in a row before and am really struggling with myself to stay on top of the nerves - I think the nerves are winning!

I've kept out for a while through other commitments, but also to demo and try and get some confidence back. It doesn't seem to be coming together for me just now and I don't know why. Sorry to cry here but I don't have anyone else to talk to!

This is why I haven't posted much and, as I said in my reply to Ashes, I don't want to influence anyones trades - I can't even manage my own! I always talk of caution, but you must not allow your caution turn to fear like I seem to have done. Sorry to ramble, this is all for now.

Rebecca.
I have been doing this full time for 4 years and this market is nuts the past week. Just stick with it as it will pass. I have been 80% + winners for months now this week I had a few losers a few winners and it's hard to hit a good TC, as you can see even Phillip is Picking trades that are not easy to spot. To trade this market it's going to take experance and if you don't have that just wait. Don't blow out your account or change your rules. This macd works has worked and will work again. Dec has always been a crap month for me that's why I trade light or don't trade at all. Turn on CNBC even the "pro's" are having problems.
Keep taking CT trades, I need more money
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