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4 Hour Strategy (MACD)

  • #10,001
  • Jan 4, 2008 12:31am Jan 4, 2008 12:31am
Could you also view that trade as a lower high? Or would that have been the previous trade 0400 on the 3rd (GMT+2)?
Hindsight is 20/20
  • #10,002
  • Jan 4, 2008 2:38am Jan 4, 2008 2:38am
look at the h4 confirmation with m5.i think it could be a good trade
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  • #10,003
  • Jan 4, 2008 4:21am Jan 4, 2008 4:21am
Double Top?
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  • #10,004
  • Jan 4, 2008 5:42am Jan 4, 2008 5:42am
I am away for the weekend. See you people Sunday night(17:00Gmt+2)
  • #10,005
  • Jan 4, 2008 7:07am Jan 4, 2008 7:07am
Quoting bshadroo
look at the h4 confirmation with m5.i think it could be a good trade

What are you doing? If you go to enough different time frames you will find what you are looking for. It seems you are creating you own system, good luck.
Keep taking CT trades, I need more money
  • #10,006
  • Jan 4, 2008 7:20am Jan 4, 2008 7:20am
Quoting bshadroo
look at the h4 confirmation with m5.i think it could be a good trade
Hello. I see that you trade Phillip's 5 minute system as well.Ryan is right. Please do not try to use 5 minute to enter a 4 hour trade. this will not only kill your account but also confuse other members of the forum who are relatively new to this system. 5 minute has nothing to do wiht 4 hour. Phillip has shown us how to use 1 hour for early entry or at the most 30 minutes for a break out / retrace entry. it is all in the forum. Not trying to critisize you but help you. Good luck.
Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,007
  • Jan 4, 2008 8:00am Jan 4, 2008 8:00am
Could someone confirm for me if we enter after the MACD bar that gives the signal or during its formation?

As in lets say the macd has moved through the Zero line do we enter immediately or wait until that candle has closed and confirmed the MACD position.
  • #10,008
  • Jan 4, 2008 9:34am Jan 4, 2008 9:34am
Quoting Micardo
Could someone confirm for me if we enter after the MACD bar that gives the signal or during its formation?

As in lets say the macd has moved through the Zero line do we enter immediately or wait until that candle has closed and confirmed the MACD position.
Until the candle closes with a trend continuation or counter trend(less reliable) signal on the macd....you have no signal....if you enter a trade before the candle closes the signal could go away before the candle closes....a move thru zero is not a signal.....you are looking for a change in the color of the macd...this is all covered in the lessons.....time to read the method again. Like i said earlier....take your time the market will be here....spend the weekend reading about it....listening to mp3's and looking at pdf's.....it will put money in your pocket.....if you dont do it...I can insure you , you will fail...its up to you........hope to see you progress as time goes by....you'll be amazed at what is going on , on the chart that you dont see now....You dont see what you WANT to see, You see what you KNOW to see.....embrace the challenge of increasing your knowledge of this system it is time well spent..... pipip....Jimdandy

p.s.
You do not trade because the macd changes color.....you watch the chart and look at price action around the Moving averages, coupled with Candle emotion and support/resistance levels...A.K.A. "RYTHYM" once the rythym looks like a trade is in the works....you use the macd color change as the trigger....once in the trade the macd is not important....s/r levels tell you where to take profit and place stops.....take partial profits and move rest to break even and then you are in the market for free......Learn ,Learn, Learn.....
  • #10,009
  • Jan 4, 2008 10:15am Jan 4, 2008 10:15am
Quoting Micardo
Could someone confirm for me if we enter after the MACD bar that gives the signal or during its formation?

As in lets say the macd has moved through the Zero line do we enter immediately or wait until that candle has closed and confirmed the MACD position.
4H Rules say entry after the signal bar is closed.
  • #10,010
  • Jan 4, 2008 10:15am Jan 4, 2008 10:15am
I know some people trade USD/CAD using this method so I'll post this. I just got burned taking TC trade on this pair. Not sure why there was this huge spike up after the bad US news today but it went wayyyy past my stop. Anyone else take this trade?
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  • #10,011
  • Edited 10:36am Jan 4, 2008 10:31am | Edited 10:36am
Wow, crazy day with the dollar negative news. I felt a little like RyanMcD netting 75 pips on the Euro...but gotta admit, I was flummoxed by the Loonie. It was almost completely unimpacted by negative USD news and actually reversed to rally the Usd/Cad over a dollar. It was in a TC and broke into a VT after the negative news. Pundits said something about oil price dropping as a cause, but this seems extreme. Any fundy insight or comments there?

On another note, Palmer, nice job on the web site. I take back everything I said about Panhandle clams. Guess I just needed a reason for missing an easy trade and gastrointestinal discomfort seemed like an excuse I have not seen on this thread. <<<ROFIGD Emoticon (Rolling On Floor In Gastrointestinal Discomfort)

...And Mr. Nel, congratulations on the 10,000th posting. This number is a testament to the longevity of your system and enthusiasm of this great community.

Have a good weekend, y'all. Looking forward to some rhythm next week and more 4Hr MacD signals.
  • #10,012
  • Jan 4, 2008 11:26am Jan 4, 2008 11:26am
Quoting Betard
I know some people trade USD/CAD using this method so I'll post this. I just got burned taking TC trade on this pair. Not sure why there was this huge spike up after the bad US news today but it went wayyyy past my stop. Anyone else take this trade?

You took it when the 8/21 ma where not crossed down, I never trade unless they have crossed into the trend the 89ma is in.
Keep taking CT trades, I need more money
  • #10,013
  • Jan 4, 2008 11:27am Jan 4, 2008 11:27am
To those that trade the news today. You cannot trade the NFP on this 4H system. You need a shortterm strategy and a lot og nerves to due that. Remember next time not to trade NFP news. If you have an open trade then close it before the news.
  • #10,014
  • Jan 4, 2008 11:46am Jan 4, 2008 11:46am
Quoting Phillip Nel
Is there someone that will be able to write an EA that will follow a position at a set amount of pips below(when long) and above(when short) a set moving average (simple and exponential) and close the position once the price reached that level.
It will help when one is in a long position that is starting to develope and to put stoploss a set amount of pips below the 21 or 89 moving averages and visa versa for a short position.
1. Maybe built in a partial profit taking after "x" pips and set the rest at the moving average stoploss.
2. An EA to put in a buy/sell order on a moving average and cancelled it after that candle closed(must be able to take 15min and bigger timeframe) and enter a new order on the new moving average value and not renewed when filled. Hope this one can be done. Also with a set stoploss and partial profit and rest set with a stoploss an amount of pips away from moving averages.

Do you people think that it will be usefull.

It will help me to set the remainder of my position after I took partial profit a set distance away from the 21EMA and let it go. It is better as a trailing stop as a trailing stop can come down 30pips but not cross the 21EMA yet and then continue upwards as where a 25 trailing stop would have been taken out.

Thanks
Phillip

Hi Phillip,

First, so many thanks for your great method and your hard work! I studied it for about two months and I was fully convinced it is a proven method. I was especially impressed by YOUR low failure rate and low draw down.

I saw your question several days ago. But took 48 hours to register on FF. If nobody took this job yet, let me do it. I am a C programmer, have been doing MT4 codes for about one year.

In regard of your requests: the first part (MA stoploss) is easy, I made one in last summer and have used it for two or three times. the second part -- i did not get it yet, kind of confused. "put in an order on a MA and cancell it after candle closed"? it will be easier for me if you can show an example with graphs.

I was in Los Angeles; I hate it because all major moving happens when I am sleeping. I just flew over to south China and will be here for two weeks. Hope to do some really good 4H MACD trades here.


Best wishes

Shinetrip
  • #10,015
  • Jan 4, 2008 11:52am Jan 4, 2008 11:52am
Rough week?I took off between Christmas and New Years Day. I did read the forum, and I believe there was a good trade on 12/31 I slept through.I studied some candle stick formations over the break, and worked on physchology a lot (NLP study was very interesting, but I feel so much more confident in life in general after this study).


The past two days I had foundation work done on my house. I wanted to be involved, it is who I am. So I was out shoveling dirt and gravel for 8 hours a day, wearing myself to nothing. Those men work DAMN hard, I was blown away. $8,000 later, and my foundation is once again solid.Anyway, I have slept through a lot this week. I did get up for the 4 hour bar last night, but did not see anything setting up. It looks like it has been a rough week. What I have not slept through, didn't seem worth taking.



The USDJPY has been in a great trend, but the movements have been so fast you need to catch the on the 1H charts. And even at that, the 1H charts are barely fast enough.The GBPUSD seems to be struggling to find a down trend. Lots of indecision.



The EURUSD is struggling to find an up trend. I see some got shook out of what appeared to be a great set-up. I would have taken it myself had I been awake. And I too would have been stopped out with that damn long tail (early 1/3/2008).


The USDCHF has been in a nice down trend. But much like the USDJPY, you would need to go to the 1H charts to catch most of the movement. I am going to watch this pair closely next week.



The USDCAD I am tempted to drop. This pair has been so sporadic lately, maybe it is always sporadic. I will continue to follow it for the time being.



The EURGBP I am glad to have added. This pair has been in a nice uptrend. I have not taken a long trade (even with the nice trend) since it is above highs that have not been seen since very early 1997. If it shows long next week, I believe I will go long.


Is everyone having a rough week?
  • #10,016
  • Jan 4, 2008 11:52am Jan 4, 2008 11:52am
Quoting Ryanmcd
You took it when the 8/21 ma where not crossed down, I never trade unless they have crossed into the trend the 89ma is in.
Ryanmcd,

I want to be sure I am clear on your recent quote regarding Trend Continuation Trades.

Please confirm if this is correct.

In order for you to consider a Trend Continuation Trade to go Long...not only does price need to be above the 89MA but the 8MA should also be above the 21MA. Vice versa for a short position.

Thanks in adance for your answer.

TNFPosterboy
  • #10,017
  • Jan 4, 2008 12:00pm Jan 4, 2008 12:00pm
Quoting tnfposterboy
Ryanmcd,

I want to be sure I am clear on your recent quote regarding Trend Continuation Trades.

Please confirm if this is correct.

In order for you to consider a Trend Continuation Trade to go Long...not only does price need to be above the 89MA but the 8MA should also be above the 21MA. Vice versa for a short position.

Thanks in adance for your answer.

TNFPosterboy
That's an 'ideal' situation but because the 8ema is such a short period if the rhythm of the market is 'there' this might just be more of a pause in the trend.
  • #10,018
  • Jan 4, 2008 12:01pm Jan 4, 2008 12:01pm
That is good advice I'll think of that next time. I just noticed it bounced of the 21, wasn't paying attention to the 8ema. I should have known better than to trade after NFP but I was hoping the market had been able to get back to normal 30 minutes after the release. GBP TC would have worked well, I saw all the news today was positive for GBP though so I didn't take it. I'm still learning this system so that's why I'm posting when I lose to hopefully get some feedback like this. The 150 pip spike was still pretty crazy though (happened well after nfp released).


Quoting Ryanmcd
You took it when the 8/21 ma where not crossed down, I never trade unless they have crossed into the trend the 89ma is in.
  • #10,019
  • Jan 4, 2008 12:05pm Jan 4, 2008 12:05pm
Quoting Palmer
That's an 'ideal' situation but because the 8ema is such a short period if the rhythm of the market is 'there' this might just be more of a pause in the trend.
Thanks Palmer,

So is it safe to say if you only trade this type of setup that you will probabaly be left out of some trades but have a higher probability?

Thanks!

TNFPosterboy
  • #10,020
  • Jan 4, 2008 12:54pm Jan 4, 2008 12:54pm
Quoting Palmer
That's an 'ideal' situation but because the 8ema is such a short period if the rhythm of the market is 'there' this might just be more of a pause in the trend.
True, but I like having everything I can stacked in my favor to take a trade
Keep taking CT trades, I need more money
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