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4 Hour Strategy (MACD)

  • #10,961
  • Jan 30, 2008 9:36am Jan 30, 2008 9:36am
Quoting maxster
I didn't take Ryan's reply as negative - those that haven't go through what he means will not understand. He is trying to help people from blowing their account by citing an example - and discipline by following your plan is the key. But the ones that have gone through or going through it know it is not that simple.
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  • #10,962
  • Jan 30, 2008 9:59am Jan 30, 2008 9:59am
Quoting maxster
I didn't take Ryan's reply as negative - those that haven't go through what he means will not understand. He is trying to help people from blowing their account by citing an example - and discipline by following your plan is the key. But the ones that have gone through or going through it know it is not that simple.
I didn't mean it in any negative way towards Ryan. He has alot of good advice. I simply think people NEED to go thru the school of hard knocks to learn any lesson that helps us overall. Think back to your teen years. Or if you have kids, thats a good example of watching them learn and grow. It takes patience with people as well as markets.

Happy pippin'
  • #10,963
  • Jan 30, 2008 10:01am Jan 30, 2008 10:01am
Quoting maxster
I didn't take Ryan's reply as negative - those that haven't go through what he means will not understand. He is trying to help people from blowing their account by citing an example - and discipline by following your plan is the key. But the ones that have gone through or going through it know it is not that simple.
I agree with Ryan's sentiments. I have often tried to blame my losses on the market etc. As Phillip said sometimes news affects things adversely and there is nothing that you can do, other times you can predict volatility or a lack of it due to upcoming news releases. I have been itching to place trades according to the 4 hour MACD rules but am also trading other systems. I have had to decide to focus on 1 main system until I am happy with that and then expand. I have a very small trading pot and do not intend to blow it by being reckless. In most of the threads on FF there are newbies coming in asking for EA's (and not knowing even what EA stands for) and behaving as if they can plug them in and watch the money rolling in!!

This thread has taught me an immense amount about trading, and not just trading this system. It's not easy money.

Personally I have decided not to trade today until the interest rates have been announced. This has been a great breakthrough for me as I used to have to get my trading fix every day.

Perhaps I am becoming a better trader, but it is all thanks to people like Phillip, Ryan, Palmer, Donna,Nadia etc etc.

Keep up the good work

Mister ED
  • #10,964
  • Jan 30, 2008 10:04am Jan 30, 2008 10:04am
Quoting kc8flq
I didn't mean it in any negative way towards Ryan. He has alot of good advice. I simply think people NEED to go thru the school of hard knocks to learn any lesson that helps us overall. Think back to your teen years. Or if you have kids, thats a good example of watching them learn and grow. It takes patience with people as well as markets.

Happy pippin'

True but if I can help someone get upto speed faster that would save them lots of time / stress. I know I had a great mentor who made several millions a year for 20+ years. He was great and spent 100's of hours helping me because I helped him with money management. Do not take anything I say as being negative, thats the one thing I hate about the forums is you can not show emotion and people may take what I say the wrong way. If I did not care I would not post.
Keep taking CT trades, I need more money
  • #10,965
  • Jan 30, 2008 10:13am Jan 30, 2008 10:13am
If fed was not going to cut I would be getting long on EUR/CHF @ 2:00 if it does close up green.
Keep taking CT trades, I need more money
  • #10,966
  • Jan 30, 2008 11:08am Jan 30, 2008 11:08am
hi dear phillip
thx for speaking about my question .i hardly could understand ur answer in the mp3 file.(i have difficulty with spoken english ,and i think the english speakers are have a big advantage in forex world)
any way.. thats my problem
and.. i think your idea about m1 trading after fed is good.i'm going to do that too.
  • #10,967
  • Jan 30, 2008 11:34am Jan 30, 2008 11:34am
I am currently working on a lesson that will put the Rules and the Rhythm more visual. Will post it over the weekend.
  • #10,968
  • Jan 30, 2008 12:20pm Jan 30, 2008 12:20pm
Quoting Phillip Nel
I am currently working on a lesson that will put the Rules and the Rhythm more visual. Will post it over the weekend.
I am very exciting to wait for this lesson
Plan your trades and trade your plans
  • #10,969
  • Jan 30, 2008 12:21pm Jan 30, 2008 12:21pm
Hello everyone , if i may just butt in and say a few things about the recent communication between the members of this forum. ( sorry Phillip i hope it is ok with you ).
Here is my humble opinion. This forum is a true blend of Talent, Experience , and Ambition. we help each other in our own way. KC8FLQ said a very smart thing that teaching is like dealing with children. Sometimes we scold them , sometime we tell them politely, but if they keep making wrong choices guess what happens then --. yes we yell at them . some children listen, some react right back. But we as a parent know in our heart that we have their best interest in mind and are trying our best to keep them away from danger or from making stupid mistakes. I think we need to see past the language barrier and discover that the people who offer solid advice ,( no matter what their style is) are here to help us. If some one does not like the other persons style of communication , then filter out the words that hurt you and take the good advice that comes with it and move on. If some one does not speak english as their first language and they ask questions in a challanging manner, then they are not trying to offend u, they are just inquisitive and want to learn more.
It always helps to be polite to each other. which i think everyone is on this forum. We are just different people with different communication styles , but our GOAL IS THE SAME to help each other.
I think i have made some sense. I am honored to be part of this forum. And hope you guys will take my post positively. Wish you all success.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,970
  • Jan 30, 2008 12:33pm Jan 30, 2008 12:33pm
Sorry, for being late with this one. Here is a written copy of daily wrapup for the 29th of January.
Attached File(s)
File Type: doc Daily wrapup for the 29th of January.doc   30 KB | 502 downloads
  • #10,971
  • Jan 30, 2008 1:12pm Jan 30, 2008 1:12pm
Fed will announce its rate in 5 minutes, waiting for the result

Philip: Your taking profit from 55 ema is a very constructive method, I will use it as an important tool
Plan your trades and trade your plans
  • #10,972
  • Jan 30, 2008 1:26pm Jan 30, 2008 1:26pm
Quoting saka
Fed will announce its rate in 5 minutes, waiting for the result

Philip: Your taking profit from 55 ema is a very constructive method, I will use it as an important tool
So FEDs didn't change any of those 2 news, eh? EU & GU flew like a rocket!
  • #10,973
  • Edited 2:03pm Jan 30, 2008 2:01pm | Edited 2:03pm
Quoting hijackxx
So FEDs didn't change any of those 2 news, eh? EU & GU flew like a rocket!
yes , i cauth just 9pips in m1 chart from this huge motion , all of that line drawings,waitings,... its broke up my triangle and i did nothing.just 9pips
  • #10,974
  • Jan 30, 2008 2:11pm Jan 30, 2008 2:11pm
I longed AUD/USD the TC 28th Jan. 2008 at 16:00, and leave 1 lot till now, I think if Fed cut rate, Aussie must go higher, if wrong, I will be out with BE
Plan your trades and trade your plans
  • #10,975
  • Jan 30, 2008 2:14pm Jan 30, 2008 2:14pm
Quoting bshadroo
yes , i cauth just 9pips in m1 chart from this huge motion , all of that line drawings,waitings,... its broke up my triangle and i did nothing.just 9pips

9 pips is not bad if you trade 20 full contracts Also if you trade with DBFX and use a brokerage account the spreads go down to 1-2 pips on almost all pairs.
Keep taking CT trades, I need more money
  • #10,976
  • Jan 30, 2008 2:18pm Jan 30, 2008 2:18pm
Quoting BIL2205
Hello everyone , if i may just butt in and say a few things about the recent communication between the members of this forum. ( sorry Phillip i hope it is ok with you ).
Here is my humble opinion. This forum is a true blend of Talent, Experience , and Ambition. we help each other in our own way. KC8FLQ said a very smart thing that teaching is like dealing with children. Sometimes we scold them , sometime we tell them politely, but if they keep making wrong choices guess what happens then --. yes we yell at them . some children listen, some react right back. But we as a parent know in our heart that we have their best interest in mind and are trying our best to keep them away from danger or from making stupid mistakes. I think we need to see past the language barrier and discover that the people who offer solid advice ,( no matter what their style is) are here to help us. If some one does not like the other persons style of communication , then filter out the words that hurt you and take the good advice that comes with it and move on. If some one does not speak english as their first language and they ask questions in a challanging manner, then they are not trying to offend u, they are just inquisitive and want to learn more.
It always helps to be polite to each other. which i think everyone is on this forum. We are just different people with different communication styles , but our GOAL IS THE SAME to help each other.
I think i have made some sense. I am honored to be part of this forum. And hope you guys will take my post positively. Wish you all success.
Nadia.
Hi Nadia

Well said, I am doing exactly what you suggested in your post. Take out the important information from every post - everything that I can learn from - and I ignore the rest. That is the purpose of a thread like this and Phillip's 5min thread. If you don't like my style of communication or trading, ignore the style but look for the important piece of useful information.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #10,977
  • Jan 30, 2008 2:29pm Jan 30, 2008 2:29pm
Quoting Ryanmcd
9 pips is not bad if you trade 20 full contracts Also if you trade with DBFX and use a brokerage account the spreads go down to 1-2 pips on almost all pairs.
thx ryan, my broker is MIG and it has 2pips spread in eurusd.i posted my trade in phillips m5 thread , maybe i should put a buystop for the possible breakup before fed , but it was more risky.
  • #10,978
  • Jan 30, 2008 2:29pm Jan 30, 2008 2:29pm
When I did backtesting I didn't pay attention to news release time - I sometimes wonder why upcoming news is even important in real time trading on 4H or higher time frames except maybe if news were to come just before trade entry.

Makes me wonder how many of those backtest large profit trades are a direct result of being in a trade during news.

That 4H TC signal that Phillip took to me was a very good signal except I would of put the SL below that 4H candle. But because of the news I didn't take it.

Palmer's point is very clear as he post "news coming no positions open" a lot.

Do most veterans go with Palmer on this?
  • #10,979
  • Edited 2:52pm Jan 30, 2008 2:30pm | Edited 2:52pm
So Ryanmcd, does this mean you are making $200 a pip?

Because if so, that's freaking awesome.
The problem with experience is that the test comes before the lesson.
  • #10,980
  • Edited 2:36pm Jan 30, 2008 2:34pm | Edited 2:36pm
Quoting Bandersnatch
So Ryanmcd, does this mean you are making $2000 a pip?

Because if so, that's freaking awesome.
Dude,
That's like asking a woman her age. Somethings are better left unsaid...
I prefer to stay on a level playing field by calling out average pips made per trade and let the experience speak for itself.
Frick
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