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4 Hour Strategy (MACD)

  • #10,921
  • Jan 29, 2008 11:34am Jan 29, 2008 11:34am
Quoting Palmer
Hmmmm....BladeRunner....

Oh now look what you did, you got Palmer all excited again!!
Keep taking CT trades, I need more money
  • #10,922
  • Edited 11:46am Jan 29, 2008 11:35am | Edited 11:46am
well.. i dont expect this ,just wish this kind of movement (maybe after rate decision ) because i think there could be a lot of pips in it for all of us.
may be a macd green signal with a close above 4800 could be an start of that.
lets see
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  • #10,923
  • Jan 29, 2008 11:37am Jan 29, 2008 11:37am
Okay here are the 3 chats I am looking at, again this may change but this is what I am seeing
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Keep taking CT trades, I need more money
  • #10,924
  • Jan 29, 2008 3:04pm Jan 29, 2008 3:04pm
Quoting Ryanmcd
Okay here are the 3 chats I am looking at, again this may change but this is what I am seeing
Thanks Ryan. Always helpful seeing the potential trades in advance from the experts.

I've started locating all Phillips trades on my charts (and when I can find them, yours - so keep your trade posts coming!) and found it really helpful. Its great for scrolling back to look for similar trade setups (or too leave the ones he didn't take) when a potential real-time trade comes up - if I get a match, all the more reason to take the trade. Also finding it good for really drilling into my head the successful setups and how often they occur - knowing they come up all the time makes it easier to skip the average trade setups, or ones I don't really recognise but which seem to be ok (and straight away aim at my SL when I enter the trade!)

Cheers,
Ben
  • #10,925
  • Jan 29, 2008 3:57pm Jan 29, 2008 3:57pm
Ryan:

You've had waaaaaay too much sugar today.

Things look like they are in sleep mode until the interest rate statement. The GDP report may move things in the morning but I'm flat until after the Fed talks....
  • #10,926
  • Jan 29, 2008 4:30pm Jan 29, 2008 4:30pm
Quoting Palmer
Ryan:

You've had waaaaaay too much sugar today.

Things look like they are in sleep mode until the interest rate statement. The GDP report may move things in the morning but I'm flat until after the Fed talks....

Funny thing is I dont eat sugar or do caffeine I do goto the gym 8+ times a week though, Hay have to have something to do when the market is slow. Also it does look kinda dead but I still think my charts I posted will play out Oh I can type about 90wpm so these messages take about 30 seconds.
Keep taking CT trades, I need more money
  • #10,927
  • Jan 29, 2008 4:58pm Jan 29, 2008 4:58pm
Thanks Phil for the update and Ryan for the charts. I've learned more from this thread in the last few months than my previous 20 years. Palmer, maybe once we get this "news" behind us we can get some pairs "bladerunning" on their 8emas..... Going to be out of the pocket tomorrow, be carefull (GPD and FMOC), could see some false break outs....

Quoting Ryanmcd
Funny thing is I dont eat sugar or do caffeine I do goto the gym 8+ times a week though, Hay have to have something to do when the market is slow. Also it does look kinda dead but I still think my charts I posted will play out Oh I can type about 90wpm so these messages take about 30 seconds.
  • #10,928
  • Jan 29, 2008 5:16pm Jan 29, 2008 5:16pm
Quoting EricthePip
Thanks Phil for the update and Ryan for the charts. I've learned more from this thread in the last few months than my previous 20 years. Palmer, maybe once we get this "news" behind us we can get some pairs "bladerunning" on their 8emas..... Going to be out of the pocket tomorrow, be carefull (GPD and FMOC), could see some false break outs....

True no bladerunner love
Keep taking CT trades, I need more money
  • #10,929
  • Jan 29, 2008 5:36pm Jan 29, 2008 5:36pm
There are a few with potential (like the ones you had posted charts on). Coincidence?? I think not!!!

Quoting Ryanmcd
True no bladerunner love
  • #10,930
  • Jan 29, 2008 5:37pm Jan 29, 2008 5:37pm
Quoting EricthePip
There are a few with potential (like the ones you had posted charts on). Coincidence?? I think not!!!

Hey I am just lucky
Keep taking CT trades, I need more money
  • #10,931
  • Jan 29, 2008 5:46pm Jan 29, 2008 5:46pm
Quoting Ryanmcd
You still long with me on the EUR / CHF? If so I just moved my stop upto cost.

Hello Ryanmcd, no I have closed it since long time at a loss of 20 pips as I was headed for sleep and the price was going against me in the first candle of my trade.

Again, another good lesson learned. I have not sticked to my orignal plan as my stop were at 1.6068 under the 21 EMA. Funny thing price never got there. I really need to have more confidence in my decision and have the courage and discipline of sticking with my orignal plan

I guess that is the difference between an experienced trader and me.

Nice trade Ryanmcd and hope you made a lot of pips on this one if closed already

Biggest issue for me is patience. I need to confess, that is my worst bad habit but I am working strong on it to improve it.

Sincerely

Shreem
  • #10,932
  • Jan 29, 2008 5:58pm Jan 29, 2008 5:58pm
Quoting shreem
Hello Ryanmcd, no I have closed it since long time at a loss of 20 pips as I was headed for sleep and the price was going against me in the first candle of my trade.

Again, another good lesson learned. I have not sticked to my orignal plan as my stop were at 1.6068 under the 21 EMA. Funny thing price never got there. I really need to have more confidence in my decision and have the courage and discipline of sticking with my orignal plan

I guess that is the difference between an experienced trader and me.

Nice trade Ryanmcd and hope you made a lot of pips on this one if closed already

Biggest issue for me is patience. I need to confess, that is my worst bad habit but I am working strong on it to improve it.

Sincerely

Shreem
Have to let it run, if you did your work you will be right more then wrong. I was watching it and down 30 before I went to sleep but as I know from past trades let it ride.
Keep taking CT trades, I need more money
  • #10,933
  • Edited 6:04pm Jan 29, 2008 6:01pm | Edited 6:04pm
Quoting Ryanmcd
Out of EURCHF +49.

Hello Dear Ryanmcd, nice trade and great pips. This need to be a good exemple for me to stick to my plan. That is why I like so much this great thread and all people helping each other.

If we are open, we can learn so much from the trades of others

Ryanmcd, thank for the comment of the above post. So true. Another lesson learned and please keep coming your charts and posts. Really like them

Sincerely

Shreem)
  • #10,934
  • Jan 29, 2008 6:15pm Jan 29, 2008 6:15pm
Quoting shreem
Hello Dear Ryanmcd, nice trade and great pips. This need to be a good exemple for me to stick to my plan. That is why I like so much this great thread and all people helping each other.

If we are open, we can learn so much from the trades of others

Ryanmcd, thank for the comment of the above post. So true. Another lesson learned and please keep coming your charts and posts. Really like them

Sincerely

Shreem)

It just takes years, I lost for 3-4 years maybe I can cut that time down for others.
Keep taking CT trades, I need more money
  • #10,935
  • Jan 29, 2008 10:04pm Jan 29, 2008 10:04pm
Dear Fellow 4hr MacD traders,


I've been trading using Philip's 4hr MACD system exclusively for the last 7 months , of which first 4 months were purely on demo, later 2 months were demo + live and full on live since january 2008.

Demo months: Averaged over 300pips per month, worst performance was in Aug2007 (but was the month i felt i learnt most),

Live account: Averaging +300 pips / month. Apart from that live account returns are in the double digit figure monthly.


Prior to June 2007, i have almost zero trading knowledge or experience despite having a banking and finance background. 4hr MACD system and contributors of the thread itself have directly influence my learning curve in trading of which i believe i have made rapid growth in my trading skills and knowledge.

This system works definitely. However, you need to customize your own trading plan to fit your personality and whatever that works best...ie your trading edge...

There is an arsenal of weapons in technical analysis which are used in this trading system. Be it trendlines, fibo , MAs, price action, candlestick formations, they all work...but you need to backtest, forward test which one works the best FOR YOU...i have to emphasise on that this system works and is profitable BUT you need to customize it to yourself in order to have a strong edge.

Last but not least, thank you Philip for your wisdom, generosity and kindness. Also the regular contributors Donna (pipsforyouandme) , Palmer, Nadia (BIL2205), ryanmcd and many others...thank you ...i felt i've learnt so much from the thread and you guys are fundamental in my formative year in trading!

Wish you all the best and many pips to come...together we keep learning and evolve to become better and consistently profitable traders !


Cheers,
Mike Wong
  • #10,936
  • Jan 29, 2008 11:01pm Jan 29, 2008 11:01pm
I've been watching different timeframes just to try out this sistem rules, it works fine on almost all of them (from 15 min up), but it works for sure best on the 4h, there it really gives 80-90% positive trade if you use correctly your TP, BE an SL, so i think we couldn't ask more from a sistem... using smaller frames than 1h becomes risky and that's not really smart, why someone would get a loss when you have the opportuity to catch many wins?
Tried to backtest 55EMa it works really good! i think we should let run at least 25-30% of our trade and place trailing stop about 30-40 pips above/below the 55, (obviously after have placed BE) i know they are a lot but you wouldn't get stopped out too easily in this way, still have to backtest many monthes, so this comes from what i saw in those monthes.
  • #10,937
  • Jan 29, 2008 11:06pm Jan 29, 2008 11:06pm
h4 doesnt give me a buy signal .
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  • #10,938
  • Jan 29, 2008 11:10pm Jan 29, 2008 11:10pm
possible trade on uj?
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  • #10,939
  • Jan 30, 2008 2:26am Jan 30, 2008 2:26am
I had planned to long E/U on a break of the trend line down on the 1H this morning. This would of course be in anticipation of a green MACD on the 4H and therefore TC off the 8.

This happened but I didnt long because the 1H candle looked like a small hanging man and the break above was only just over making me think a redrawn trend line may even keep it inside.

Of course it has rocketed up after the no-trade. Now the question is whether to get in on retrace or on 4H TC signal which will close in another 1 and a half hours.
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  • #10,940
  • Jan 30, 2008 4:05am Jan 30, 2008 4:05am
We would appear to have E/U and G/U TC signals on the 4H at the current close.

The G/U is above the 9900 resistance spoken about yesterday and the E/U is above the 4800 and the trend line resistance also spoken about yesterday.

In both cases stops are fairly wide giving some degree of risk but they are still within the limits and R:R looks good.
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