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4 Hour Strategy (MACD)

  • #9,881
  • Edited 9:07am Dec 31, 2007 1:57am | Edited 9:07am
this my first post in FF ,I want say THANK YOU for philip and another trader in forum macd h4,keep practice,patience,and succes









"Together More Better Than Alone"
  • #9,882
  • Dec 31, 2007 2:37am Dec 31, 2007 2:37am
Quoting OldDog
For those with difficulty understanding spoken English. Copied from the original mp3 on page 328, post 4911.
It seems that you do lots of work during the holiday. Very thanks again for your efford.
Plan your trades and trade your plans
  • #9,883
  • Dec 31, 2007 2:54am Dec 31, 2007 2:54am
Thanks Phillip.

As the year draws to a close everyone seems to reflect on what they achieved and often on what they did not achieve, or on what they did not start out to do.

I had been wanting to start trading two years ago but there was always something else that needed attention. However, this year I started and I believe that timing is everything - Phillip started his thread at the beginning of this year. Who would have thought that it is now followed by such an international spread of traders from countries all around the world, helping one another! There is hope for mankind! And it started with one man - Phillip.

I have done well over the past four months, and whilst everything is relative..... for me, I have done well. Thanks to Palmer, Pips, Shauny, Owkenowbi, Mike Wong, Nadia, Ryan for assisting me with my own personal questions and growth and to all the others who have contributed to the thread.

As Phillip has said, may the best of the past year be the worst that you will experience this coming year. Here's to a great 2008.

First ........................... and last - Thanks Phillip.
  • #9,884
  • Dec 31, 2007 6:42am Dec 31, 2007 6:42am
you can use canddle pattern for filter CT,if you look your chart the bullish very strong with bullish engulfing,and canddle before signal CT coming no tail from top is signed bullish very strong,sorry with my text cause my english is bad.thanks,


"Together more better than alone"
  • #9,885
  • Dec 31, 2007 8:56am Dec 31, 2007 8:56am
This is example for counter trend eu today canddle pattern bearish engulfing
Attached Image (click to enlarge)
Click to Enlarge Name: ct.gif Size: 18 KB
Attached File(s)
File Type: txt CT.txt   < 1 KB | 498 downloads
  • #9,886
  • Dec 31, 2007 9:05am Dec 31, 2007 9:05am
Quoting juang
This is example for counter trend eu today canddle pattern bearish engulfing
Thank you for showing that. Also a evening star. It is the candles(peoples decision and emotion) that shows there hands and what they intend to do. Even with TC trades you can and must use candle emotion to determine the strength of the decision.
  • #9,887
  • Dec 31, 2007 9:11am Dec 31, 2007 9:11am
Quoting Phillip Nel
Thank you for showing that. Also a evening star. It is the candles(peoples decision and emotion) that shows there hands and what they intend to do. Even with TC trades you can and must use candle emotion to determine the strength of the decision.


master philip i want to say thank you so much with your system ,ican do my analysis because u learn me about market rythem and emotion market(canddle pattern) ,again thankyou


"Together More Better Than Alone
  • #9,888
  • Dec 31, 2007 9:21am Dec 31, 2007 9:21am
The 200SMA has proven itself again as a strong support/resistance level. Hope you people took the evening star this morning for thoae watching on the last day of 2007.
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  • #9,889
  • Dec 31, 2007 9:28am Dec 31, 2007 9:28am
Wow collected 35 pips today, yeah I noticed that evening star and with all the other signals I felt confident and made the trade.

Emmm, let me get this right the price motion will more than likely test the 89SMA?? as it hasn't yet! but the 200 is there where do we stand with that??

Happy New Year
  • #9,890
  • Dec 31, 2007 10:10am Dec 31, 2007 10:10am
I am excited for 2008. I have gone back and back tested my previous trades, to see where I went right, where I went wrong, and where I just got plan lucky.

I have been studying Japanese candlestick formations. I see the Evening star on the EURUSD that Phillip pointed out today, but I probably would have held off due to no emotional tail. Either way, I was asleep when it set up, being lazy over the holiday.

I do have one question.

Phillip, and those who trade like him, what % of trades do you "take 50% profit at 25 pips, and then move the stop loss to break even"?

Do you make this move on every trade? Just trades you are unsure of? 90% of trades and only let your profits run on trades you feel very strongly about?

Just curious.

Thank you and a happy and prosperous new year!

T.J.
  • #9,891
  • Dec 31, 2007 10:38am Dec 31, 2007 10:38am
Quoting Abz
Wow collected 35 pips today, yeah I noticed that evening star and with all the other signals I felt confident and made the trade.

Emmm, let me get this right the price motion will more than likely test the 89SMA?? as it hasn't yet! but the 200 is there where do we stand with that??

Happy New Year
As I typed this the price went through the 200 but my First TP would have been the 200 and then the 89 on a set trailing stop. The evening star was the strong signal therefore the 200 was my 1st TP. Will see if it goes to 89.
Might pull back to 21 and then go to 89 as part of the rules.
  • #9,892
  • Dec 31, 2007 10:39am Dec 31, 2007 10:39am
Quoting Phillip Nel
The 200SMA has proven itself again as a strong support/resistance level. Hope you people took the evening star this morning for thoae watching on the last day of 2007.

Wow, a big movement on the last day of 2007 after the news release. Caught 90 pips on cable, Eur break even (set SL to breakeven too early), happy~~
NEVER enter a trade JUST because you want to trade.
  • #9,893
  • Edited 10:58am Dec 31, 2007 10:42am | Edited 10:58am
Quoting unlv_tj
I am excited for 2008. I have gone back and back tested my previous trades, to see where I went right, where I went wrong, and where I just got plan lucky.

I have been studying Japanese candlestick formations. I see the Evening star on the EURUSD that Phillip pointed out today, but I probably would have held off due to no emotional tail. Either way, I was asleep when it set up, being lazy over the holiday.

I do have one question.

Phillip, and those who trade like him, what % of trades do you "take 50% profit at 25 pips, and then move the stop loss to break even"?

Do you make this move on every trade? Just trades you are unsure of? 90% of trades and only let your profits run on trades you feel very strongly about?

Just curious.

Thank you and a happy and prosperous new year!

T.J.
Hi
I have this strategy because of my working conditions. Can enter trades but not watch it live so I set my 1st TP to 20-30 depending on the pip range for total profit and set the rest either at BE or at a trailing stop. Each one must work out what is best for him. If I am watching live I will never let a 25pip gain run into a loss. If I think that the price is still going to go higher but might retrace I will use the 25gain on the other half as a stop to get BE overall should the second half been taken out.
  • #9,894
  • Dec 31, 2007 11:08am Dec 31, 2007 11:08am
Pulling the Trigger, written copy from page 376, post 5627. For those with difficulty understanding spoken English.
Attached File(s)
File Type: doc PhillipNel Pulling the Trigger- written copy.doc   7 KB | 711 downloads
  • #9,895
  • Dec 31, 2007 12:41pm Dec 31, 2007 12:41pm
wait for a sell signal?
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  • #9,896
  • Dec 31, 2007 2:20pm Dec 31, 2007 2:20pm
Happy New Year to all !
  • #9,897
  • Dec 31, 2007 6:21pm Dec 31, 2007 6:21pm
For us in the U.S. it is New Years Eve!!!! May everyone have a wonderful celebration passing the torch from 07 to 08!! May we all revel in the wonders 2007 shared and look forward to the adventures that await us in 2008! Wishing everyone love, laughter, health and prosperity!!

"See" you all in a few days when the holidays are over for me....and it will be back to work!

Congrats to all the traders who did well the last few weeks!! You guys are awesome!! & to the people who I haven't responded yet to PM's ...I promise to get to them in a few days (sorry, I am very non work motivated through December).

Wishing you all the best,
Donna
  • #9,898
  • Dec 31, 2007 8:02pm Dec 31, 2007 8:02pm
Phillip,

this is a veritable GOLDMINE of information you've put together
for us. I'm loving this...

thanks. you're the man...
Chester B
  • #9,899
  • Jan 1, 2008 1:35am Jan 1, 2008 1:35am
Quoting bshadroo
wait for a sell signal?
Looking at the bulllish divergence on your 1 hr chart makes me think it may give a little bounce here...Maybe a little bounce up to the 61.8 fibo? This would equate approximately to a retrace to the 21 ema on the 4hr chart.....on the 4 hr chart it has come down thru the 89 and not so much as looked back....usually it will retrace some before moving on down as per the rules....Time will tell the story....pipip....JimDandy
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  • #9,900
  • Jan 1, 2008 2:47am Jan 1, 2008 2:47am
hi Phillip,

I've spent the last several hours reviewing your system and
I'm sure i'll need more time to review it and of course trade
with it.

I agree a trader need a system and stick to it...I will try
this one because i've been spending too much time
scalping.

1 question so far:

Question: How important is the sequential profit taking for
this system? Could I use the following rules instead?

30 pips in profit - move SL to 25 pips in profit, go to next MA...
then cash out at either +25 or bigger target.

Either that, or just stick to original profit target, maybe subtract
a few pips just to make sure to hit it... I think that
might be easier if i'm just getting used ot it. What do you think?

Thanks again for a system that seems absolutely terrific.

COMMENT:
Also, in terms of profit targets, would it make sense to
take a look at other pairs to see the relative strength
or weakness of both currencies. If , say, USD is very
strong on a day compared to yen or gbp, and you
are trading EUR/USD short, then you may have
greater profit target based on what other
pairs are doing.

I can't wait to trade this system.

I havent tried out the 1H, but it seems a few peopel on
this thread have identified high probably trades
using rounded bottoms or tops on USD/JPY.

But i'll start off just trading EUR/USD and GBP/USD on 4H
, no early entries, for the new year on this system and see how it goes.

Best, Chester B.
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