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4 Hour Strategy (MACD)

  • #10,101
  • Jan 7, 2008 4:34pm Jan 7, 2008 4:34pm
Quoting Palmer
Charts look stagnant right now...kind of like how I feel right now...LSU vs. Ohio State comin' up...
Good luck Tigers. Still pissed at OSU.... (week schedule and the whole Clarette thing)...
  • #10,102
  • Jan 7, 2008 7:20pm Jan 7, 2008 7:20pm
Quoting Ryanmcd
I am going to short gbpusd and usdjpy if it stays red with a baseball bat Also may take a stab at the usdcad if I get some pullback.
Ryan, About time to get out that baseball bat and beat down the GBP.... (kinda like the tigers are beating the bucs at halftime)...
  • #10,103
  • Jan 7, 2008 7:28pm Jan 7, 2008 7:28pm
hello everyone.. i think this is my first post here.
i've watched the thread and decided to stay sideline because i was still learning the system.
So.. EUR/USD long @1.4699 I decided to take and it is looking good...
Hope it'll move on my favour...
  • #10,104
  • Jan 7, 2008 8:06pm Jan 7, 2008 8:06pm
Quoting BIL2205
hope my blabbering made sense. Good luck
Nadia.
hi,Nadia. You are right, I'm fine. I think I should pay more attention to the rhythm and candle sticks, and find which has the most probability to trade with. Thanks for your encouragement.
Plan your trades and trade your plans
  • #10,105
  • Jan 7, 2008 8:29pm Jan 7, 2008 8:29pm
STOPPED at BE..
  • #10,106
  • Jan 8, 2008 12:15am Jan 8, 2008 12:15am
Morning everyone not really seen any singals again this morning :| Let hope the news brings something?!
  • #10,107
  • Jan 8, 2008 1:04am Jan 8, 2008 1:04am
Quoting welshguy2000
Morning everyone not really seen any singals again this morning :| Let hope the news brings something?!
I took GU long signal formed both on 1 and 4 hour macd @ 1.9719
and banked in 47 pips, although there wasn't any sign to close my long.
  • #10,108
  • Jan 8, 2008 2:41am Jan 8, 2008 2:41am
Quoting hijackxx@hotmai
I took GU long signal formed both on 1 and 4 hour macd @ 1.9719
and banked in 47 pips, although there wasn't any sign to close my long.
Good call - although i would class that as a counter trend trade, so you should keep stops tight or at least lock in some profit.

Good trade - did you take the head and shoulder on MACD as confirmation?
  • #10,109
  • Jan 8, 2008 2:59am Jan 8, 2008 2:59am
Quoting Ryanmcd
Not sure why you guys are trading all these crap setups but I am not. If you rush this you will NEVER make it in trading and this is going to be my last post about waiting for a good trade because I don't need the help and a few here keep trading crap. I guess that's the difference of me doing this for a living and other chasing trades and because they missed one last time they are going to force a trade this time and lose. I have been there I lost 50k in 3 years doing that and blew out 3 accounts so you can either learn from my screwup's or you can lose a lot too does not matter to me.


Please don't take this the wrong way, I hate to see people lose money.
would u please say what was wrong with my usdchf trade?my sl hitted just by 3pips and then it went up all the comming way with just 1 H1 candle.
  • #10,110
  • Jan 8, 2008 3:11am Jan 8, 2008 3:11am
Woke up at 5 AM to catch the bar only to find I did not miss any trades at all. I just have to get to bed earlier, get up earlier, and forget the limit orders unless the set-up looks excellent for a limit order and a quick run.

The only possible trade I see is a CT on the EURGBP to go short. There appears to be an evening star on the Daily charts, and the 4H has closed below the 21 MA.

I am not taking this trade. It would be more forcing a trade than letting the trade come to me, and I got burned yesterday trying this.
  • #10,111
  • Jan 8, 2008 3:56am Jan 8, 2008 3:56am
We had SHS below 0 and price had move up above 21. Price closed above 21 and give a ZB signal. Price will move back to 21 and move away to 89.

Stop loss 1.9730.
I hope this is according to the rule.

IT IS ALWAY EASY TO READ AFTER THE TRADE. I HOPE I READ CORRECT THIS TIME. PLEASE CORRECT ME.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #10,112
  • Jan 8, 2008 4:19am Jan 8, 2008 4:19am
Just taken a short on the USD/CHF from the candle formation & MACD signal.

SL = 1.1181
  • #10,113
  • Jan 8, 2008 4:23am Jan 8, 2008 4:23am
Quoting ejiexe
We had SHS below 0 and price had move up above 21. Price closed above 21 and give a ZB signal. Price will move back to 21 and move away to 89.

Stop loss 1.9730.
I hope this is according to the rule.

IT IS ALWAY EASY TO READ AFTER THE TRADE. I HOPE I READ CORRECT THIS TIME. PLEASE CORRECT ME.
Looks all good to me, where is your target? I'm thinking the 89 but could be wrong?

Hmm also what do the RT, VT, RB and TC on your MACD stand for??? I'm confused
  • #10,114
  • Jan 8, 2008 4:44am Jan 8, 2008 4:44am
Quoting ejiexe
We had SHS below 0 and price had move up above 21. Price closed above 21 and give a ZB signal. Price will move back to 21 and move away to 89.

Stop loss 1.9730.
I hope this is according to the rule.

IT IS ALWAY EASY TO READ AFTER THE TRADE. I HOPE I READ CORRECT THIS TIME. PLEASE CORRECT ME.

I would be careful with this one. You entered on a bearish shooting star candle. Don't give this trade too much room. Also I don't believe that a cross of the zero line is a macd signal but if I'm wrong someone correct me. There is support above this shooting star candle and I expect price to creep up to test but to reverse.
  • #10,115
  • Jan 8, 2008 5:06am Jan 8, 2008 5:06am
Quoting kdmezzo
I would be careful with this one. You entered on a bearish shooting star candle. Don't give this trade too much room. Also I don't believe that a cross of the zero line is a macd signal but if I'm wrong someone correct me. There is support above this shooting star candle and I expect price to creep up to test but to reverse.
Actually you are right, there is no such signal. It looks like people have started to envent new MACD signals, not good .
  • #10,116
  • Jan 8, 2008 5:09am Jan 8, 2008 5:09am
Quoting welshguy2000
Just taken a short on the USD/CHF from the candle formation & MACD signal.

SL = 1.1181
I took this also.

Price had been topped around 1.1190 for 3 candles now and the last one was a bearish belt-hold. The trade is with the trend and the price closed bellow the 21 and the 8.

It concerns me that the fast MAs are converged, meaning indecision. News is also close and important (say the analists), although it is not on my "don't trade it!!!"-list.

Entered at 1.1169
SL: 1.1205 (above daily high and the round number)
TP: 1.1107 (above round number and mid way to the last low)
R:R > 1

Welshguy, why did you choose that SL?

Robert
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  • #10,117
  • Jan 8, 2008 5:16am Jan 8, 2008 5:16am
I'm a bit confused of what is going on on the thread lately!
I don't know maybe it's me, or my data, but I didn't see anything worth trading so far!
There was only one deal I would have taken on E/U, I have marked it on the chart due to the tail, IT, and evening star with the hanging man inside, though it was a CT trade, but it worked well to the 21. I didn't take due to the sleep, but there is nothing else to trade so far.
Look at the candles, up, down,up. Look at the 8 and 21 - they are flat and interlaced, there is no rhythm at all! The price has closed again above 21, but there is no signal. As we are in an up trend, so I more favour for long, but only after the price will retrace to the 8 or 21 and give TC signal.
Let's wait for the rhythm to show itself and then take the deals.

People, PATIENCE and PATIENCE!
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  • #10,118
  • Jan 8, 2008 5:19am Jan 8, 2008 5:19am
no flow with things right now...patience for the setups.....
  • #10,119
  • Jan 8, 2008 5:23am Jan 8, 2008 5:23am
ira:

Ryanmcd said it in so many words earlier. I don't watch all the pairs but the majors just don't look appealing right now. I took a quick Tc on the Yen yesterday and that was it. It may take several 4 hour bars (days) before something starts to move then fall in line with the rhythm of things. That being the case, I have plenty of 'other' work to do so...I'll glance at charts from time to time instead of watch them for the next few days.

People get bored and they look for trades. DO NOT DO THIS. It will ruin your account.
  • #10,120
  • Jan 8, 2008 5:46am Jan 8, 2008 5:46am
Quoting Palmer
ira:

Ryanmcd said it in so many words earlier. I don't watch all the pairs but the majors just don't look appealing right now. I took a quick Tc on the Yen yesterday and that was it. It may take several 4 hour bars (days) before something starts to move then fall in line with the rhythm of things. That being the case, I have plenty of 'other' work to do so...I'll glance at charts from time to time instead of watch them for the next few days.

People get bored and they look for trades. DO NOT DO THIS. It will ruin your account.
Palmer, I couldn't say it better!
I was not only talking about E/U, G/U - look how 1,9700 acts as support, if you are taking TC wait for the candle to close below that level. There is also divergence, the price is squashed between the TL and 1.9700 level.
People, if you are bored, please do the backtesting, it really takes a lot of time, but it's priceless!

OK, I don't criticise anyone, actually I want to help. I know how loss can hurt you, and few losses in a row may drive you nuts! You will blame yourself, you'll blame the system, you'll try to change something, or what is worse you'll try to get your money back. It doesn't matter if you are trading demo or live, demo losses hurt too! It's real pain, so why to bring yourself in it?

We should post our trades here, otherwise how are we going to learn? But, let's talk about the reasons WHY WE TAKE THE TRADE. MACD signal in itself is not enough, and some people are taking trades even without it! Let's discuss the rhythm, the support and resistance, the candles. Look how Phillip does his trades, there are always arguments why he took the trade.
Sorry for long post, but it looks like many didn't listen to Phillip's wrapup yesterday.
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