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4 Hour Strategy (MACD)

  • #10,581
  • Jan 21, 2008 10:13am Jan 21, 2008 10:13am
Info
Attached File(s)
File Type: zip Daily Wrapup 21Jan2008 Part2.zip   507 KB | 860 downloads
  • #10,582
  • Jan 21, 2008 10:32am Jan 21, 2008 10:32am
Quoting ira
I took short on U/J - that was a beauty, off the 8 MA, broke of triangle, with the rhythm. I set tight take profits +85 on this trade.
I also took E/U short. The reasons: with the trend, out of consolidation, went through 365 and tested it. Closed one lot +33 at 1.4500 level, the other is at b/e and running.

Nicely done, Ira!

Have noticed how well you are planning and executing your trades lately! Keep up the great work.
  • #10,583
  • Jan 21, 2008 10:38am Jan 21, 2008 10:38am
Quoting mike_dg
didnt' i teel u for 2 months euro will never see 1.5
Hi mike_dg,

Yes, you have been...but it did retrace pretty close....you are doing a great job! But, becareful w/saying never.....it could and then your superior analytical assessment would be invalidated. Use probably never and we will think you are looking into a crystal ball (personally, I think e/u will move up and down and this week will see dollar strength)...odd times ahead...

Overall, kudo's to you. Hope you made all those downward pips w/your shorts over the last few months!

Pips
  • #10,584
  • Jan 21, 2008 10:43am Jan 21, 2008 10:43am
this is 1 week early......

HAPPY 1 YEAR ANNIVERSARY PHILLIP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

congrats on maintaining such a wonderful trading methodology and community.
  • #10,585
  • Jan 21, 2008 10:45am Jan 21, 2008 10:45am
Quoting pips4uandme
Nicely done, Ira!

Have noticed how well you are planning and executing your trades lately! Keep up the great work.
pips4uandme, i have problems with putting SL in ira's kind of trade. Would you please kindly help me out.
Thx
  • #10,586
  • Jan 21, 2008 10:49am Jan 21, 2008 10:49am
Quoting pips4uandme
this is 1 week early......

HAPPY 1 YEAR ANNIVERSARY PHILLIP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

congrats on maintaining such a wonderful trading methodology and community.
why, what?? Isn't still 7 days left 'till the 29th O' Jan? Or am I missing something?
  • #10,587
  • Edited Jan 22, 2008 4:22am Jan 21, 2008 11:17am | Edited Jan 22, 2008 4:22am
Thank you Phillip for sharing your great system and for your dedication in teaching us.

Kind Regards
Attached File(s)
File Type: pdf written copy of WeekToCome 20Jan08.pdf   41 KB | 717 downloads
  • #10,588
  • Jan 21, 2008 11:23am Jan 21, 2008 11:23am
Quoting pips4uandme
Nicely done, Ira!

Have noticed how well you are planning and executing your trades lately! Keep up the great work.
Thank you Donna, a compliment from you is worth a lot. Where have you been we missed you!!!
  • #10,589
  • Jan 21, 2008 11:40am Jan 21, 2008 11:40am
Quoting Phillip Nel
Info
Phillip, all I do and all I know I have learned from you and some other people on the thread. So, if anyone still doubts that it works just look at me , I was a complete zero when I came here.
What a good idea to keep SL on the 8MA! We have discussed that it must be above/below 21 in a trend, but with the move like this I would not have been even in breakeven. One lot on EUR is still open, so I'll put the SL there, let's see how it works.
  • #10,590
  • Jan 21, 2008 11:49am Jan 21, 2008 11:49am
Quoting ira
Phillip, all I do and all I know I have learned from you and some other people on the thread. So, if anyone still doubts that it works just look at me , I was a complete zero when I came here.
What a good idea to keep SL on the 8MA! We have discussed that it must be above/below 21 in a trend, but with the move like this I would not have been even in breakeven. One lot on EUR is still open, so I'll put the SL there, let's see how it works.
Thanks for the reply there ira. The problem im not taking in any of trend breakout or trend continuation is to put my SL. Thanks for the help.
  • #10,591
  • Jan 21, 2008 11:53am Jan 21, 2008 11:53am
Quoting pips4uandme
this is 1 week early......

HAPPY 1 YEAR ANNIVERSARY PHILLIP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

congrats on maintaining such a wonderful trading methodology and community.
Cannot believe that 1year is gone. Never had an idea that after 1year this will still be going on. Hope this year make a lot more people happy and help them to become more skilled as traders. Thanks to everyone that has contributed to this.
Phillip
  • #10,592
  • Jan 21, 2008 12:06pm Jan 21, 2008 12:06pm
Quoting ira
Phillip, all I do and all I know I have learned from you and some other people on the thread. So, if anyone still doubts that it works just look at me , I was a complete zero when I came here.
What a good idea to keep SL on the 8MA! We have discussed that it must be above/below 21 in a trend, but with the move like this I would not have been even in breakeven. One lot on EUR is still open, so I'll put the SL there, let's see how it works.
It has all been a pleasure in giving what I know to others. I have learned as well from people on this thread. Thanks to everybody
Phillip
  • #10,593
  • Jan 21, 2008 12:17pm Jan 21, 2008 12:17pm
this is 1 week early...... << oh my.. i didn't see the first line. shame of me
nvm..
  • #10,594
  • Jan 21, 2008 12:50pm Jan 21, 2008 12:50pm
Quoting ira
I took short on U/J - that was a beauty, off the 8 MA, broke of triangle, with the rhythm. I set tight take profits +85 on this trade.
I also took E/U short. The reasons: with the trend, out of consolidation, went through 365 and tested it. Closed one lot +33 at 1.4500 level, the other is at b/e and running.
Ira,

Can I ask how you pulled the trigger on the EUR? I was anticipating this trade but by the time the 1H MACD gave me the TC trigger signal it moved too much for me - I get fustrated with the indicator because it lags so much.

Thanks.
  • #10,595
  • Edited Jan 22, 2008 1:08am Jan 21, 2008 3:21pm | Edited Jan 22, 2008 1:08am
Hi,

I took a short TC on eur/chf

1.6010
sl 1.6080 (2x -70)
tp1 1.5960 (+50)
tp2 1.5920 (+90)
r:r 140:140

price has gone down off the 8ema, came back to it and now
I assume it may continue its downmove. no macd-signal.

edit: because of the chf retail sales news tomorrow 8:15 gmt
I altered the sl from -50 to -70 to give the trade a better
chance to survive speculative spikes. r:r is 1:1 on TC, which is still fine

edit:tp 1 taken +50
sl set on +/- 0

edit: sl hit +/-0

total: +50 pips

Regards
  • #10,596
  • Jan 21, 2008 5:53pm Jan 21, 2008 5:53pm
Trend change for all you TC'ers, hope you got out quick like I did, was luck this time not skill.
Keep taking CT trades, I need more money
  • #10,597
  • Jan 21, 2008 6:52pm Jan 21, 2008 6:52pm
Quoting Ryanmcd
Trend change for all you TC'ers, hope you got out quick like I did, was luck this time not skill.
I trade GU, UJ, EU, & GJ pairs and they all are showing MACD bottoms. entering long in 8 minutes. Happy pippin'
  • #10,598
  • Jan 21, 2008 7:15pm Jan 21, 2008 7:15pm
Decided to take GU & EU long. Both SLs are below the resistance by few pips.
GJ & UJ shot the bull too high, making me too difficult to take it because SLs are too wide.
  • #10,599
  • Jan 21, 2008 7:31pm Jan 21, 2008 7:31pm
I figured with the US Markets being closed for MLK day, that things would be slow.

I slept in, and it felt GREAT. By the time I woke up the markets already made their moves.

Lesson learned: Don't sleep in, even on a US holiday.

HiJackxx, do you normally take the CT trades? If so, do you have much luck with them? Do you come out positive at least 50% of the times, or at least is your risk (stop loss) worth the gains?

I am just curious. I often stay away from CT trades, but after reading through "Trading In The Zone" I realize that some loss is expected, to take the risks it takes to become a full time trader.
  • #10,600
  • Jan 21, 2008 11:29pm Jan 21, 2008 11:29pm
Quoting ashes
Hi,

I took a short TC on eur/chf

1.6010
sl 1.6080 (2x -70)
tp1 1.5960 (+50)
tp2 1.5920 (+90)
r:r 140:140

price has gone down off the 8ema, came back to it and now
I assume it may continue its downmove. no macd-signal.

edit: because of the chf retail sales news tomorrow 8:15 gmt
I altered the sl from -50 to -70 to give the trade a better
chance to survive speculative spikes. r:r is 1:1 on TC, which is still fine

Regards
hi
becarefull ! there is a monthly TL around and..
did u get a tc signal on h4?
why ur sl is at 1.6080? couldnt be about 1.6055?(above 1.6045)
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