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4 Hour Strategy (MACD)

  • #10,981
  • Jan 30, 2008 12:38pm Jan 30, 2008 12:38pm
Yeah, you're right. It's sure fun to think about though. I hope to be there someday.
The problem with experience is that the test comes before the lesson.
  • #10,982
  • Jan 30, 2008 12:40pm Jan 30, 2008 12:40pm
Quoting Bandersnatch
So Ryanmcd, does this mean you are making $2000 a pip?

Because if so, that's freaking awesome.

I am just saying that once you start trading more contract not only do brokers make your spreads better but they set you up on a better platform and give you free research and such. I have been trading a while and started at 1 contract on the ES back in 2000. Also same thing goes as paper trading if you can make 10k in paper but not real money it's emotion, you can trade 10-20-100 contracts and it does not matter if there is no emotion. I know people that trade 100 contracts it's just a number and does not affect the trade at all. The only downside to getting a broker account is 500k min deposit.
Keep taking CT trades, I need more money
  • #10,983
  • Jan 30, 2008 12:46pm Jan 30, 2008 12:46pm
Quoting Golfer
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.
hi willem
very nice to see u posting here i hope u post more here like m5 and many thanks to posts in m5 again.
BTW is there snow in south africa?i though there is sumer?!
hi nadia
i completely in agree with you,i have alot of thing to speek about my good feelings in this forum but my bad english doesnt allow me.
  • #10,984
  • Jan 30, 2008 12:49pm Jan 30, 2008 12:49pm
Here is something that I also look at.

1.5000(M) Major Psychological Take Profit/Buy Breakout FLAT at 1.4886
1.4965(S) All Time Hi Nov 23 Flat On A Failure
1.4920(M) Jan 15 High Sell Failure/ Buy Break
1.4905(M) TL Off Nov 23 Peak Expect Stalling
Keep taking CT trades, I need more money
  • #10,985
  • Jan 30, 2008 12:57pm Jan 30, 2008 12:57pm
Quoting Ryanmcd
Here is something that I also look at.

1.5000(M) Major Psychological Take Profit/Buy Breakout FLAT at 1.4886
1.4965(S) All Time Hi Nov 23 Flat On A Failure
1.4920(M) Jan 15 High Sell Failure/ Buy Break
1.4905(M) TL Off Nov 23 Peak Expect Stalling
Hey Ryan good stuff as ususal. i like the way you have noted down imp price points and their significance. What you mean by the (M) and (S). I am sure there is a simple answer to that
Thanks,
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,986
  • Jan 30, 2008 1:01pm Jan 30, 2008 1:01pm
20 contracts!, so this means wa have a 3 million dollar account(real not demo) owner who is posting on a forex forum

say you risk at least 40 pips when trading a 4H chart, so 20 contracts = $8000, assume risking a 3% of the account so the account is roughly $2.4 million
  • #10,987
  • Jan 30, 2008 1:03pm Jan 30, 2008 1:03pm
I just noticed by typo reading 2000 instead of 200. Sorry to mislead anyone.

In any case, you're totally right, Ryanmcd. Whether it's a micro lot or 100 lots, good traders rely on the charts and good MM.

Regarding the charts, how long is it going to take the dust to settle after the rate cut? The spike seems to have lasted longer than I thought it would. I'm thinking now that it might take a few more hours at least for everything to properly adjust and maybe start settling into a proper rhythm.
The problem with experience is that the test comes before the lesson.
  • #10,988
  • Jan 30, 2008 1:04pm Jan 30, 2008 1:04pm
Quoting mike_dg
20 contracts!, so this means wa have a 3 million dollar account(real not demo) owner who is posting on a forex forum

say you risk at least 40 pips when trading a 4H chart, so 20 contracts = $8000, assume risking a 3% of the account so the account is roughly $2.4 million
I think you added an extra 0.

With 2.4 Mil you can trade 200 contracts
  • #10,989
  • Jan 30, 2008 1:07pm Jan 30, 2008 1:07pm
Quoting maxster
I think you added an extra 0.

With 2.4 Mil you can trade 200 contracts
That was my mistake.

20 contracts x $10/pip/contract = $200/pip
The problem with experience is that the test comes before the lesson.
  • #10,990
  • Jan 30, 2008 1:10pm Jan 30, 2008 1:10pm
Quoting Bandersnatch
That was my mistake.

20 contracts x $10/pip/contract = $200/pip

That is why the brokers give you a better spread, in fact I can trade with a 0 spread on all pairs and pay a commission if I wanted. Just showing you guys what can and does happen if you STICK TO THE RULES
Keep taking CT trades, I need more money
  • #10,991
  • Jan 30, 2008 1:12pm Jan 30, 2008 1:12pm
Quoting BIL2205
Hey Ryan good stuff as ususal. i like the way you have noted down imp price points and their significance. What you mean by the (M) and (S). I am sure there is a simple answer to that
Thanks,

M is major S is small.
Keep taking CT trades, I need more money
  • #10,992
  • Jan 30, 2008 1:13pm Jan 30, 2008 1:13pm
Quoting Bandersnatch
I just noticed by typo reading 2000 instead of 200. Sorry to mislead anyone.

In any case, you're totally right, Ryanmcd. Whether it's a micro lot or 100 lots, good traders rely on the charts and good MM.

Regarding the charts, how long is it going to take the dust to settle after the rate cut? The spike seems to have lasted longer than I thought it would. I'm thinking now that it might take a few more hours at least for everything to properly adjust and maybe start settling into a proper rhythm.

I am in no rush here. the high was nailed and it pulled back on the eur from the daily of Nov 23rd. Just going to wait this out some more.
Keep taking CT trades, I need more money
  • #10,993
  • Jan 30, 2008 1:20pm Jan 30, 2008 1:20pm
Quoting Bandersnatch
Yeah, you're right. It's sure fun to think about though. I hope to be there someday.
Start with $500, make a consistent 5-10 pips a day with a target of 6% ROI per week. The results are that in 2 years you will have 200K in the bank, betting 20 lots per trade and grossing 500k/year. I hope you get there some day.
Frick
  • #10,994
  • Jan 30, 2008 1:42pm Jan 30, 2008 1:42pm
Quoting Ryanmcd
I am just saying that once you start trading more contract not only do brokers make your spreads better but they set you up on a better platform and give you free research and such. I have been trading a while and started at 1 contract on the ES back in 2000. Also same thing goes as paper trading if you can make 10k in paper but not real money it's emotion, you can trade 10-20-100 contracts and it does not matter if there is no emotion. I know people that trade 100 contracts it's just a number and does not affect the trade at all. The only downside to getting a broker account is 500k min deposit.
yes , emotion .even in small contracts shows itself.i remember when i was trading demo i was up by 5000$ (with minilot positios) after 1 year , but now... i'm breakeven after two years real trading.
i'm traiding now only 10k(minilot) sometimes 20k. my first goal is to trade 1lot then 10lot and...
sorry all if its not related to h4
  • #10,995
  • Jan 30, 2008 1:51pm Jan 30, 2008 1:51pm
Quoting Beman
Thanks Palmer for confirming what i've seen(i was sure that pro-trader already didi it), i have question: i know nothing about fundamental analises and seems it would be very usefull to know something... how can i learn something about it? (books, other threads ecc..) maybe there's a topic on this thread explaining it (i still didn't read all the 700 pages!).
Thanks in advance
Beman/Maxster:

The only emphasis I put on the news releases is the volatility that can be associated with them and if you are already in a previous position. Major releases like the Fed today and the non-farm payrolls can do major damage to your account if you are on the wrong side of the market direction. If the numbers come out a lot higher or lower than expected and you are in a position that has a 20 or 30 pip stop...that might not matter one bit. Next time the NFP comes out just watch your quote window and see how the spread goes up 5, 10, 15, or 20 pips. Just the spread alone can hit your stop. Then, if the numbers are way out of line, which does happen, there can be a price spike of 40, 50,...up to 100 pips in the blink of an eye. Your stop loss in a case like this does not matter. Things move too fast and your stop loss can get filled those 100 pips further away from where you thought it would be filled. It does happen. So, just be aware of the eco news calendar events for the pairs where you have a news release. Especially a 'red flag' day. I really don't care one way or another what the news is. The only thing I do care about is if I am in a position and where my stop is. Unless you are a real banker and you are moving money from country to county, then I would subscribe to the Economist or something or starting reading about how the news affects your portfolio.

Does the news really affect a 4hr candle? Yes it does. The current bar from the Fed news on the EU has a range of about 120 pips. If you were short when the news came out and you had a stop loss in you may have had trouble with that fill. My one minute candle had a range of about 40 pips. That one minute took about 1 second to form. Just be aware....

Thinking of the EC here:

Price has made its way back down to the 21. Look how the 21 has held price action back up the last few times it made its way there. This pair is on the verge of crossing the 89 also. Keeping an eye on this one...

MACD setting from 1hr...'chart flopping'...
Attached Image
  • #10,996
  • Jan 30, 2008 1:51pm Jan 30, 2008 1:51pm
Quoting Foricks
Start with $500, make a consistent 5-10 pips a day with a target of 6% ROI per week. The results are that in 2 years you will have 200K in the bank, betting 20 lots per trade and grossing 500k/year. I hope you get there some day.
Frick
Thanks, Frick. I appreciate the support.

And you're right about starting small and focusing on making consistent gains. Compound interest is a marvelous thing.
The problem with experience is that the test comes before the lesson.
  • #10,997
  • Jan 30, 2008 2:17pm Jan 30, 2008 2:17pm
okaaaaay...as soon as I open my mouth, price closes below the 21...re-booting
  • #10,998
  • Jan 30, 2008 2:43pm Jan 30, 2008 2:43pm
Quoting Ryanmcd
M is major S is small.
hehehe , i knew there was a simple answer to that. thanks for reply.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #10,999
  • Jan 30, 2008 3:35pm Jan 30, 2008 3:35pm
Market still kind of a mess going to sit out for 8-12 hours.
Keep taking CT trades, I need more money
  • #11,000
  • Jan 30, 2008 4:27pm Jan 30, 2008 4:27pm
Been out all day, just get back. Personally I would not ask Ryan to change a thing. (and he certainly doesn't need my defense)... The world we live it is full of politically correct sugar coated places we can all visit (mine is work). Ryan on the other hand says his piece in very few words and you never have to wonder what he means or what's on his mind... Thank you Ryan....




Quoting Ryanmcd
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.
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